On Wed, 24 Sep 2008 22:04:54 -0400, "Mike Marlow"
wrote:
Not that I'm in favor of this bailout, but where did you get the scoop that
there would be no accountability?
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Several people [actually two] have sent me off list emails asking
what they can do about this money grab. In all honesty, not
much, as this appears to be a "done deal," and Congress is again
putting on a punch-n-judy show for the amusement and diversion of
the great unwashed [that's you and me]. However if you are
interested and want to do something, write or email your senators
and representative to vote no. You can get their email/snail
mail/fax addresses at
http://www.senate.gov/general/contac...nators_cfm.cfm
http://www.house.gov/
tip - bookmark their web mail sites for easy access in the
future.
For whatever help it might be here is the copy of the email I
sent on just the immunity aspect of TARP bill. Feel free to use
all, part or none.
-------------------------
I have already emailed you urging the rejection of TARP [Troubled
Asset Relief Program] aka the 700 billion dollar Wall Street
bailout.
As is increasingly common, the more critical background
information is not being presented in the U. S. media, and must
be obtained from international sources. After reviewing this
material, I am even more adamantly opposed to this legislation.
Two items of particular interest and critical importance:
(1) The 700 billion figure appears to have been pulled out of
thin air, and has no basis in fact. "The cost of the Treasury
plan to save the US financial system from collapse cannot be
estimated because it is too vague, Peter Orszag, head of the
Congressional Budget Office, told legislators on Wednesday." For
details and complete article see
http://www.ft.com/cms/s/0/78ecb166-8...0779fd18c.html
(2) The rescue program as proposed will place the Secretary of
the Treasury above the law and answerable to no one. This also
has the potential to shield the people and organizations that are
responsible/accountable for this situation from both criminal and
civil liability. Any legislation that contains language such as
"Decisions by the Secretary pursuant to the authority of this Act
are non-reviewable and committed to agency discretion, and may
not be reviewed by any court of law or any administrative
agency," and "The Secretary is authorized to take such actions as
the Secretary deems necessary to carry out the authorities in
this act, without regard to any other provision of law regarding
public contracts." Is totally unacceptable. Indeed, I suggest
that anyone submitting such a proposal should be immediately
removed from any public office of trust and responsibility, as
they obviously have either no understanding or no intention of
abiding by their oath to "uphold, protect and defend the
Constitution of the United States." For complete article see
http://www.iht.com/articles/2008/09/....php?pass=true
Senator McCain's proposal for a governmental commission to
examine the causes for the current economic problems has merit as
long as the commission is a Federal Grand Jury issuing
indictments under the RICO, mail/wire fraud, and conspiracy
statues, with both significant prison time and asset forfeitures
resulting.
-----------------------
Note that the American car makers just got their snouts in the
trough for "only" 25 billion in the House revenue bill just
passed. (Still must pass the senate, but this is a "must pass"
bill to keep the fed. government running]
http://www.ft.com/cms/s/0/83bfe68c-8...0779fd18c.html
also see Wall Street comes to Main Street [the real economy]
http://plantcity2.tbo.com/content/20...ships-nationw/
http://www.theautochannel.com/news/2...24/128852.html
Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).