Do you think there is a chance?

There is always so much more to the story, What we are not being told would enrage and panic the country, According to the Emergency economic stabilization act of 2008 Foreign banks can physically come into the US to confiscate property and secure their investments.

Like any other bill they will have a few Kucinichs and the rest will softsoap their constituents. ALL of them will tell you "we are outraged". The reps who are solid in their districts will vote "aye" on the bailout and receive fair compensation and not worry about it affecting his/her bid for re-election, the rest will draw straws to see who falls on their sword and votes "aye" knowing they will have hell to pay at home. They will do this with JUST enough votes to pass it- the long straws get to say "i voted against it" to their constituents. All of the "aye" votes will be given a packet of selling points to pacify their constituents that explain why they "had to vote aye for the good of the economy". At the end of the day- a few hundred people will have done the opposite with a few hundred million taxpayer's money than what they were demanded to do. And theres nothing you can do about it. What I dont understand is this...Why dosnt congress simply all vote "no" knowing full damned well Bush would just veto and push it through anyway on executive order? Everyone hates him and he's on his way out anyway- why not let him take all the blame and not risk losing their re-election bid? Its GOING to go through- I just dont understand why they dont just make him the sacrificial lamb, disassociate with a "no" vote and when he vetoes and pushes it through anyway-not look implicit.

Live Free or Diebold

but I'm not optimistic. We haven't had the ears of our Reps regarding the really big matters in my somewhat-brief lifetime. When you have the president of the CFR on Morning Joe saying this has to happen, then it doesn't look good. Just keep calling and emailing... Put the fear of God into them.

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"I killed the banks"

Look at this article: Live Blogging the Treasury Call

Can't say I know exactly what this is, other than it seems to be a conference call that took place, and someone live-blogged. It appears that the information provided came directly from a representative of the Treasury. Some interesting tidbits:

- Tax provision: firms can deduct up to a million RIGHT NOW. if you contribute to the fund, that'll be reduced to 500k.

- If there's a loss after 5 years, the gov't can attempt to recoup losses; would go to the entire industry and not just participants...analysis will be done, sent to president, then sent to congress for approval, though no real method in place at the moment

700 billion will come in tranches:
- 250 bn comes immediately

- when secretary determines he needs more, he'll go ask congress for the next 100 bn (no time limit here on when Paulson can ask...could ask the day after he gets the 250 bn)

-when the secretary determines he needs more after that, he'll go back to congress, and they'll consider for 15 days (no time limit here on when Paulson can ask...could ask they day after he gets the 350 bn)

- Some guy from Treasury says he wants people to focus on legislation, not implementation. One of his colleagues says he thinks that's a "very good idea."

Q: Will the Treasury still get equity stake in companies that chose insurance? Can the Treasury decide whether or not to let companies participate?
A. The Treasury will consider "long-term viability" of the firm. For the most part, we want to help the healthy banks get healthier as opposed to healing the failing banks.

Q: Didn't catch the name, Davis Polk: When you decide to buy non,residential/commercial assets, do you have to ask for approval?
A: No, just consult with fed chair and send a note to congress

Q: Jeff, didn't catch firm name: Is there any way to ensure the purchased dollars are actually re-lent back into the system? will that be mandated?
A: No provision for that
Q: Can you add that?
A: We're always open and considering.

Hope for the best but expect the worst. As far as the chance—we always have a chance. Never let anyone convince you otherwise.

Cliff Treadway, Sioux City, Iowa

there is a chance it will not pass...

See my post: WHAT TO DO IF THE BAILOUT PASSES

Strength and Honor