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Treasury Department TARP Bait and Switch

WASHINGTON (AP) — Treasury Secretary Henry M. Paulson Jr. said Wednesday that the $700 billion government rescue program would not be used to purchase troubled assets as originally planned.

http://www.nytimes.com/2008/11/13/business/economy/13bailout...



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Just for fun

Wouldnt it be a hoot for all to file civil cases against Paulson?
Judge Judy would just LOVE us..snickers.

Can hear it now.
Case Number XXXX-XXX
Misfit4Peace A Member of WE THE PEOPLE V Paulson
Charges are: Stealing--Fraud--Conspircy--Crimes Against the Constitution
etc..etc..etc...

Freedom is another way to God...A corrupt government is a straight way to hell.

I believe in Hope & Change..I Hope the government will Change
Spindale-Rutherford County-North Carolina

making it up as they go along

Not so.

1) They demanded to be able to change the terms. You wouldn't do that if you didn't believe you would change the terms.
2) They demanded freedom from prosecution. You wouldn't do that if you didn't believe you were doing something that wouldn't cause controversy shortly.
3) They pushed through a tax break for banks to write off losses when purchasing other banks before the bailout. They wouldn't have done that unless they wanted the banks to buy other banks.
4) They are buying stock in the banks. They are all Keynseian. See the above post about what Keynes and the communists wanted to do about bank ownership by the state.

The government owning banks.

What does that remind me of? Oh yeah, The Communist Manifesto.

Fifth Plank: Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.

Somewhere in hell, John Maynard Keynes is laughing maniacally and dancing a jig.

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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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So, they're using the money to buy ownership positions in the

banks. There's an article on Yahoo describing how democrats now want to bailout the auto industry by buying ownership positions in the companies:

http://news.yahoo.com/s/ap/20081113/ap_on_bi_ge/financial_me...

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"An economy built on fiat money is a society on its way to ashes."

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"An economy built on fiat money is a society on its way to ashes."

Brothers and sisters...

...let them run aground and sink the entire financial system... It has already started its slide into oblivion. They could not stop it if they wanted to. They created too sharp a differential and now it is all going to publicly collapse. The only thing being attempted now is to crash land in as best a place as possible for "them".

There will be more turbulence, but it will be much better on the other side. Nothing more than another sinusoidal cycle... Up and down...

A global two day strike of all human workers would really send it off with a bang though. Think we could "organize" it? :) Hell a week long strike would really create some fireworks.

Making it up as they go along

In other words, these "experts" don't have a clue what they are doing and are making this up as they go along. They might as well admit they just pulled that $700 billion figure straight out of their asses. This is a complete joke that we have people like Ron Paul essentially on the sidelines of this disaster while these know-nothing jokers are in charge.

Register as Republican and Vote for Ron Paul

How many asses do we need to

How many asses do we need to kick before they listen?

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"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore

exactly

.

I wonder how many times

I wonder how many times these programs will have to fail and need to be ‘refocused’, before some of these guys starts to at least ponder if perhaps the extreme simplicity and predictability of a sound money system, is not worth giving up whatever advantages it is they perceive the current system provides?

I mean, many of the people involved in this twisting, turning and repeatedly failing, are some of the most prominent economists on earth. They are trained (well at that) to seek empirical validation for their models, not just close their eyes and blindly follow ideology. So, even if asking them to wholesale switch to an Austrian mode of thinking is a bit much, You’d think there would at least be _some_ official debate on the matter, considering how obviously flawed their current models have turned out to be.

Crazy!

And, like JoeD below, I feel we should take every opportunity to exploit people’s disgust with these programs and try to drag them over to our side. The more information becomes available on these bailouts, the more ammunition we have. In that sense, the more of the money ends up as executive compensation, the better. Also, in the same vein, let’s hope Bush leaves some bailouts undone, so that they can taint Obama as well.

Actually...

Paulson has a degree in English from Dart so I don't think he is very well trained in economics!

_________________________
http://www.jabronitools.com

Lies upon Lies!

Only in government can a budget be defined for a specific purpose and then be completely reallocated.

I am beside myself with this nonsense.

I can think of a hundred ways to complain about it, a hundred different directions to point a finger. But it does no good. We need a plan.

Someone's comment was that it's time to "storm the gates" and that the time for arrests is long past. I happen to feel that the time to storm the gates has also passed, or at least, the primer to actually take collective action has eased. The stimulus has been reduced; we need a new primer.

It will have to be induced.

Truth be told, much is being done. There are still groups like End the Fed and RTR taking action. The momentum, the inertia, of the R3voLution is still rolling forward, but it seems that the beating people are taking from the economic crisis is crushing their spirit or making them feel impotent.

And many look to Obama to save us all. The trouble with sleepy Americans is that they STILL want someone else to do the dirty work for them. They've forgotten what personal responsibility is. Obama will set up a new government program to save us. That's the answer. Oh please!

Americans are in a coma, and the readers of Daily Paul and all of Ron Paul's supporters, among many others, are among the few who have been stirred from their slumber. But now that we're awake, what can we do?

Storming the gates of government won't work unless the whole country does it. Changing the minds of Americans (i.e., waking them up) seems impossible: they are hypnotized.

It seems that only when pushed to the absolute brink are people discontented enough to actually stir from their slumber. People fight only when they have nothing left to lose.

The trouble is, those people who have a wayward spirit are easily crushed in despair. Once awake, once revived, "life support" must kick in quickly until the person can again think on their own.

Common ground, a life line, can be established with the sleeping masses the MOMENT they express their discontent. In their frustration, they have expressed dissatisfaction with the "system." This is your moment to connect!

In order for more people to wake and scream, "I'm mad as hell, and I'm not taking it anymore!" ... and then actually do something useful with that energy ... their minds must be seeded with hope and their hearts ignited with a passion for justice. If this does not happen, there will not be enough of us to win.

And it doesn't have to be the gates of government that we storm... It can be virtually ANY institution in our society, because nearly all of them has failed us. Is your neighbor dissatisfied with the local school district? Are they unhappy with bad news coverage? Upset at government? Angry about corporate greed?

As soon as discontentment is voiced, you have an opportunity to engage their mind, and plant the seed. People don't even know how to stand up and fight a parking ticket anymore. They think, "You can't find City Hall." Like hell you can't! You may not win, not every time, but if your battles are chosen carefully, and if enough people are voicing their grievances, Americans will become reacquainted with the American spirit.

The will to fight for freedom and justice is the most invigorating and satisfying sensation I have ever known. And backing down from that fight puts a nauseous feeling in my gut... it just feels wrong.

Help everyone you know find the will to Stand Up by giving them the tools they need to begin thinking like an American -- a real American, not this hypnotized shell of an American they've become. When they express discontent, take their hand and put the tools of freedom in it!

The mind will seek a nail to drive the moment the hammer is in hand!

I have a question

I keep reading how this "new" plan was better for us anyway, not that either was a good plan for the people....BUT...this article, and the words of Bastard BenPaul forget about this....

What the hell happened to the 2.5 TRILLION that they won't speak of, as mentioned on Bloomberg.com? http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_c...

Did the $700 billion grow to 2.5 TRILLION...and now they are going to give out the original amount, in addition?...what the hell is going on here? Please someone fill me in.

Lost in Oklahoma

CRIMINALS, THEY ARE ALL CRIMINALS!

When will someone arrest these criminals?! They should all be tried for treason.

United States Code at 18 U.S.C. § 2381 states "whoever, owing allegiance to the United States, levies war against them or adheres to their enemies, giving them aid and comfort within the United States or elsewhere, is guilty of treason and shall suffer death, or shall be imprisoned not less than five years and fined under this title but not less than $10,000; and shall be incapable of holding any office under the United States."

robpatozz
www.trueworldhistory.info
www.campaignforliberty.com
www.endthefed.us

Arrest them?

Arrest them?

This is 'storm the gates' time, folks! Not 'arresting' time.

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"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore

Oh look at that...

They're going "to focus first on how to repair the financial system as a way to bolster the global economy" at their New World Order confab this weekend. We'll have a global, cashless fiat monetary system before you know it.

Digg here: http://digg.com/business_finance/Treasury_Shifting_Focus_of_...

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"An error does not become truth by reason of multiplied propagation, nor does truth become error because nobody sees it. Truth stands, even if there be no public support. It is self sustained." -Mahatma Gandhi

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"...a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." -John F. Kennedy

Tyranny with a capital 'T'

They just don't care anymore. The New World Order is being ushered in as if we never once had freedom in this country.

I'm sure we'll start to see increased public displays of depravity and immorality now that the tyranny is right out in the open.

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"An error does not become truth by reason of multiplied propagation, nor does truth become error because nobody sees it. Truth stands, even if there be no public support. It is self sustained." -Mahatma Gandhi

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"...a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." -John F. Kennedy

Ron Paul will probably make

Ron Paul will probably make a statement on this today.
Just a prediction

THE FEDERAL RESERVE - Americas OVERLORD

It does not take a majority to prevail ... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men.
— Samuel Adams

13 No servant can serve two masters; for either he shall hate the one, and love the other, or else he shall lean to the one, and despise the other. Ye cannot serve God and riches. - Luke 16

Mr. Paulson is an absolute puppet.

"Mr. Paulson praised a new set of guidelines issued Wednesday by the Federal Reserve and other bank regulators, saying that they addressed a crucial issue of making sure that banks continue to lend at adequate levels."

He is talking Federal Reserve guidelines that will further the cause of the Money Masters. Speak enough double-talk and no one will know what is being said or what is going on. Mr. Paulson is an absolute puppet.

I thought it was a stupid

I thought it was a stupid idea to begin with, however once again lie to the public, ignore the citizens who spoke out against it and then do what you want with their tax dollars. Excuse me China's dollars, or is it the Saudi's that now own us? Gosh I can't keep up these days.

Do not give into evil, but proceed ever more boldly against it.

Do not give into evil, but proceed ever more boldly against it.