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I'm on my way to work and, besides, I don't know how to cut and paste but EVERYONE needs to read and learn about BASEL 11.
It was formed by the G10 nations in June 2004 to set a limit of 10 times the amount that can be loaned than is on deposit. EU banks came in line with this before Sept 1. Sept 20, 2008 was the deadline and the US has not complied. Hence, the big bailout. Royal Bank of Scotland is due billions of dollars once the "Main St. Bailout" is approved. Do you think our congressmen know this? I don't.

Basel !! is in wikepedia.

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That's BASEL II (not 11)

I've been following the BASEL issues and, as I understand, effective October 1 the U.S. banking system will not be compliant and will NOT be able to participate in the world economic markets. It sets standards for "reserve" levels and our banks are woefully out of compliance hence the 'urgency' to pass a bill to fleece us for the needed funds.

The failure of the bill was the thing to do but Paulsen and the chimp have their a**es on the line for billions. They have stolen plenty to cover the shortage and should be forced to pay it back. However there is little that we can do with the corrupt Exec and Judicial branches that we have.

The poor old Legislative branch does not 'get it' and wants only to blame the other side. Business as usual, you know. Nasty Pelosi, Barney Fife er Frank can only pi** and moan about the failure while Boehner (Bane-r) can only gloat but does not offer a solution of his own. It is truly a pitiful display on view for the entire world to see.

I've written Nasty Pelosi and Dr. Paul expressing my 'condolences' and thanks, respectively, and urge you to do the same. Pelosi can be contacted at www.speaker.gov and Dr. Paul from his congressional site. He can't respond to folks out of his district but I assure you he will listen!

I feel kinda' gypped that Dr. Paul is my Rep. I don't have anything to gripe about!

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I'm sure this had a lot to do with it

but the text states it doesn't require full compliance until 2015.

Here's an interesting fact, though. Tthe MSM reports over the weekend were saying that the banking industry was aware of this crisis for 2 years. Guess who left Goldman Sachs 2 years ago to head up Treasury. That's right!
Hank Paulson decided in June 2006 to give up his position which paid him 16.4 million that year alone and run the Treasury Department at an annual salary of $191,300.00.

Now I ask you what kind of businessman does such a thing? He must really love his fellow man to sacrifice his own interest to serve his country, right? Or does anyone think he came to Treasury to do a job for Wall Street that required someone on the inside?


and this is why the bailout needed to happen for the crooks- they told you outright that they needed to get the shit off thier books. well, that is why, because they are insolvent and now noone will cooperate with their criminal FED or the treasury snake H.P. WTG congress! did ya'll see bush speak! ha! he looks old and tired and rumor has it he is on house arrest in theWH.

President RON PAUL





Why would the Royal Bank of

Why would the Royal Bank of Scotland be due billions of dollars? Is that some sort of penalty for not honoring the Basel 11 agreement?


Not sure how it all works

but this is a link to that particular bailout



Am trying to find out more info...

affirmation: President Paul

affirmation: President Paul 2008

keep this bumped.

affirmation: President Paul 2008