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Is Paulson's Bailout Proposal Constitutional? No


US Politics & Gov't  (tags: treason, empire, unconstitutional, power grab, treasury secretary, paulson, americans, corruption, republicans, bushadministration, usa, abuse )

Mari
- 3953 days ago - news.yahoo.com
Paulson's power grab was specifically spelled out by the treasury secretary in Section 8 of his proposal, which read: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be



   

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Mari 's (1356)
Tuesday September 23, 2008, 4:01 am


Paulson's power grab was specifically spelled out by the treasury secretary in Section 8 of his proposal, which read: "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."

 

Blue Bunting (855)
Tuesday September 23, 2008, 4:13 am
IOKIYAR

(it's ok if you are republican)
 

Mari 's (1356)
Tuesday September 23, 2008, 4:31 am

Can anyone say "The Republican Empire"

No joke intended.



 

Mari 's (1356)
Tuesday September 23, 2008, 5:17 am

Bush urges Congress to pass quick relief bill

By MARTIN CRUTSINGER
Associated Press Writer
Mon Sep 22, 9:59 AM ET

WASHINGTON - Pressuring Congress, President Bush says the "whole world" is watching to see if Republicans and Democratic lawmakers can quickly agree on a plan to halt a financial meltdown without adding extra elements to the legislation.

Bush's move Monday came as some leading congressional Democrats called for a cautious, deliberative approach to stabilizing troubled financial markets. Some Democrats are seeking to add provisions to the massive rescue bill, such as limiting pay for executives of the troubled companies in need of the bailout.

The president said such efforts would "undermine the effectiveness of the plan."

Bush added: "Indeed, the whole world is watching to see if we can act quickly to shore up our markets."

http://news.yahoo.com/s/ap/20080922/ap_on_bi_ge/financial_meltdown_374


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


This story shows how the Bush Administration tried to panic congress into rushing to rubber stamp the proposal without making changes that would limit Paulson's power.

The administration was plainly hoping to slip the part about Paulson being in total control pass congress.
"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."

Of course, that would have allowed Paulson to prop up banks controlled by his cronies while simultaneously letting all other banks go under. This power could have allowed Paulson and his allies to monopolize all economic power in the US, perhaps even in most of the world.

If you think that Paulson wouldn't do this type of thing, take a look at the last two investment banks that survived. One of them was Goldman-Sachs. Paulson is the former head of Goldman-Sachs. Isn't it coincidental that the company that he has so much influence over was one of the few survivors? Its almost as coincidental as Halliburton getting so many huge military contracts in Iraq when Dick Cheney is the former head of that company. See any patterns here?

 

Mari 's (1356)
Tuesday September 23, 2008, 2:06 pm


Funny how this just happened right before the elections!

Thanks for the notes all!

 

Kevin L (13)
Tuesday September 23, 2008, 3:15 pm
It's got to be done fast or there will be dire consequences, the administration is saying. Reminiscent of the drumbeat to war that fueled the vote to authorize a trillion dollar giveaway to defense industry, isn't it?
 

(1)
Tuesday September 23, 2008, 3:49 pm
Yes Bush is saying this must be done by the end of the week Cheney is behind close doors Republains are starting to have second thoughts and trying to but this in the demortic hands power One last change to get the White House Funny no They know that they will lose the stacks are getting higher
 

(1)
Tuesday September 23, 2008, 3:51 pm
Paulson could be the fall guy and I am not sure I would lay this at his door step No Bush is the one I would hold acctable
 

Mari 's (1356)
Tuesday September 23, 2008, 4:15 pm

Obama responds YouTube

http://www.youtube.com/watch?v=8sWPYRxb26Q

 

(1)
Tuesday September 23, 2008, 4:45 pm
yes Bush wants this paased befor the end of the week Cheney is meeting behind close doors The Republians are having second thoughts Would love to have Dem holding the bag
 

Blue Bunting (855)
Wednesday September 24, 2008, 12:30 am
Insofar as the economic crisis is concerned let us all be reminded that the fundamental flaw in all the "solutions" offered is that those solutions are offered to "fix" a problem that cannot be fixed. To understand this basic point, you require only three sentences from Mike Whitney's analysis. Here they are:

This cycle [in the market] will persist until the bad debts are accounted for and written off or until the exhausted dollar-system collapses altogether.

And:

In truth, there is no fix for a deleveraging market any more than there is a fix for gravity. The belief that massive debts and insolvency can be erased by increasing liquidity just shows a fundamental misunderstanding of economics.

This is the truth that almost no one will accept.

Will Dmeocrats NEVER recognize when they're being "set up" by the RepubliCON crook$ AND LIAR$?


"I wonder how many times you have to be hit on the head before you find out who's hitting you? It's about time that the people of America realized what the Republicans have been doing to them," - Harry Truman.
 

Barbara Tomlinson (431)
Wednesday September 24, 2008, 8:03 am
NAOMI KLEIN, author of 'Shock Doctrine', endorses Wall Street demo this Thursday, not just in NYC!

NO BAILOUT FOR WALL STREET: PROTEST ON WALL STREET [NYC] THIS THURSDAY!

Actually, protests are occurring not just on Wall Street, NYC, but in many cities all over the U.S.!
In Seattle, the protest will be next Thursday, the 25th, at 4 PM, in front of the Washington Mutual {Bank} Building, 1301 2nd Ave.

Note: Naomi Klein [author of the recent book Shock Doctrine, about our predatory economic/ruling class system] is not organizing this protest, she is just helping get the word out about it. If you would like more information, please contact Arun Gupta at ebrowniess@yahoo.com.

"This week the White House is going to try to push through the biggest robbery in world history with nary a stitch of debate to bail out the Wall Street bastards who created this economic apocalypse in the first place.

This is the financial equivalent of September 11. They think, just like with the Patriot Act, they can use the shock to force through the 'therapy', and we'll just roll over!

Think about it. They said providing healthcare for 9 million children, perhaps costing $6 billion a year, was too expensive, but there's evidently no sum of money large enough that will sate the Wall Street pigs. If this passes, forget about any money for environmental protection, to counter global warming, for education, for national healthcare, to rebuild our decaying infrastructure, for alternative energy.

This is a historic moment. We need to act now while we can influence the debate. Let's demonstrate this Thursday at 4 pm in Wall Street.{And in other cities too, besides NYC!}

We know the congressional Democrats will peep meekly before caving in like they have on everything else, from FISA to the Iraq War.

With Bear Stearns, Fannie and Freddie, AIG, the money markets and now this omnibus bailout, well in excess of $1 trillion will be distributed from the poor, workers and middle class to the scum floating on top.

This whole mess gives lie to the free market. The Feds are propping up stock prices, directing buyouts, subsidizing crooks and swindlers who already make a killing off the mortgage bubble.

Worst of all, even before any details have been hashed out, The New York Times admits that 'Wall Street began looking for ways to profit from it' and its chief financial correspondent writes that the Bush administration wants 'Congress to give them a blank check to do whatever they want, whatever the cost, with no one able to watch them closely'.

It's socialism for the rich and dog-eat-dog capitalism for the rest of us.

Let's take it to the heart of the financial district! Gather at 4pm, this Thursday, Sept 25 {in YOUR city's financial district!}.

By having it later in the day we can show these thieves, as they leave work, we're not their suckers. Plus, anyone who can't get off work can still join us downtown as soon as they are able.

There is no agenda, no leaders, no organizing group, nothing to endorse other than we're not going to pay! Let the bondholders pay, let the banks pay, let those who brought the 'toxic mortgage-backed securities pay!

On this list are many key organizers and activists. We have a huge amount of connections -- we all know many other organizations, activists and community groups. We know P.R. folk who can quickly write up and distribute press releases, those who can contact legal observers, media activists who can spread the word, the videographers who can film the event, etc.

http://www.naomiklein.org/shock-doctrine/wall-st-protest

Do whatever you can -- make and distribute your own flyers, contact all your groups and friends. This crime is without precedence and we can't be silent! What's the point of waiting for someone else to organize a protest two months from now, long after the crime has been perpetrated?

We have everything we need to create a large, peaceful, loud demonstration. Millions of others must feel the same way; they just don't know what to do. Let's take the lead and make this the start!

AGAIN:

When: 4pm -- ? Thursday, September 25

Where: YOUR "FINANCIAL DISTRICT" {or retail core or bank center} in your city. {Probably a website has some info.} WALL STREET, if you happen to be in New York City. If in Seattle, Washington Mutual Bldg -- 1301 2nd Avenue.

What to bring: Banners, noisemakers, signs, leaflets, etc.

Why: To say we won't pay for the Wall Street bailout.

Who: Everyone!"

Please reproduce this in appropriate groups and messages; get e-mails out and get this into other venues, blogs and websites! If someone could make a {separate} News Item out of this, that would be GREAT. I am having problems with News Items today; and am running out of time. THANKS FOR YOUR HELP ON THIS!!!!! BMutiny T

 

Blue Bunting (855)
Wednesday September 24, 2008, 4:12 pm
Did McCAIN just read his email or Something? 10 days ago he claimed the fundamentals of the economy are strong... now he's not going to campaign because of the economy?

Sounds to me like McCain, "the most absent Senator in Congress" chicken doesn't want to debate because "the economy" which McCain admits he knows nothing about, will be a major part of the debate.

RepubliCON$, when they're losing, always want to change the rules in the middle of the game.

When 4 polls are showing Obama is leading the economy by 10+ points, McCain has to pull another stunt and gamble to get some media attention.

McCain, the poor old guy he can't make the debate. Then how is he going to run a country?????
 

Mari 's (1356)
Thursday September 25, 2008, 3:53 am


No one should have this much power or control.

The LOVE of money is the ROOT to all evil and we need to pull out the root to this weed.



 

Locan Sleeping-Squirrel (209)
Thursday September 25, 2008, 6:07 pm
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

Thomas Jefferson
 
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