Steve G.

Tell Congress: Just Say No to Donkey Punch Bailout Plan!

In Activism, Congress, Corruption, Economics, Fraud, George Phillies, Libertarian, US Government on September 25, 2008 at 11:46 am

Petition from the desk of George Phillies, but don’t blame him for the headline

http://www.ipetitions.com/petition/nobailouts/

petition urging Congress to reject the bailout

Let’s send Congress and the press the message. The text of the petition:

Respecting that many people have worked very hard to get a Congressional majority for their party, ‘we will vote against you’ covers the 2010 primaries as well as the general election.

Congress: Reject Paulson’s Bailout!

We call upon Congress to reject bank bailouts. We urge every Senator and Representative to vote against the plan. We urge every Senator to filibuster any bank bailout bill.

Congressmen: We mean it! If you vote for the bailout, we will vote against you, this Fall or in your next primary.

To pay for Treasury Secretary Henry Paulson’ plans, Uncle Sam will borrow trillions of dollars. That’s trillions of dollars out of our pockets and into the pockets of Paulson’s cronies. Congress should reject the Paulson plan and leave our money in our pockets.

Paulson’s plan will bankrupt the American taxpayer so Paulson’s banker friends can avoid suffering. Paulson wants to save his banker buddies by throwing our money at them. Instead of throwing money at bankers, Congress should throw the Paulson plan–and Paulson himself–into the wastebasket of history.

Americans believe in personal responsibility. If your neighbor borrows more money than he can repay, the penalty should fall on him, not on prudent working men and women like us who chose to live within their means. That goes for our neighbors, and it goes double for bankers and financiers, who are supposed to know how to invest money.

Congressional regulations make sure: When you sign a mortgage, the numbers you will pay were right in front of you. The Paulson plan to buy up mortgages rewards irresponsible people at the expense of the people who believed in the American way of thrift and frugality.

The Federal government should not stop banks from failing. That’s selective Federal intervention to aid the incompetent. That is just plain backwards. Congress should insist: If a bank wants to turn its assets over to Uncle Sam and go out of business, it should turn over absolutely all its assets, not just its bad assets. That includes funds reserved for executive buy-outs.

Congress should make sure: Foreign banks should get nothing from Uncle Sam. If foreign banks are unhappy with their investments, they should ask foreign taxpayers to pay them off. American working men and women should not pay through the nose because foreign bankers are too lazy to check out their investments and too incompetent to tell their investments cannot possibly be good.

Paulson proposes that his decisions should not be subject to review by the courts. Who does he think he is, King George III against whom George Washington revolted? Paulson would give himself powers that the King of England lacked. Americans would have no protections from Paulson’s bad judgement, no matter how grievous their injuries. That’s unconstitutional and immoral.

Congress should ask itself: Should we trust Paulson’s judgement? The record is clear: Paulson and Fed Reserve Bank Chair Bernanke got us into our mess. Paulson was completely wrong then, and there’s no reason to suspect he’s gotten smarter since. Congress has trusted Paulson for far too long. It should stop doing so.

Having said that, in these economically disorderly times some Americans through no fault of their own are momentarily unable to keep current on their mortgages. A program of modest loans with paybacks that could be re-scheduled, covering part of mortgage expenses for a limited time, would be far cheaper than the Paulson plan. To protect the taxpayer, such loans should not be voided by bankruptcy.

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  1. [...] Ron Paul wants people to contact their Congressional rep about the Paulson bailout and related ripoff attempts. So does George Phillies. [...]

  2. I don’t mind signing some these, but do they ever work? Voicing your opinion via a petition is great, but has an online petition actually accomplished anything?

    I’m just asking a serious question.

  3. It probably works about as well as voting in most cases.

    How often does your vote decide an election? And for most of us here, how often do we get an election that goes the way we want?

    Freedom of expression is important. It does count for something. Eventually, sometimes, it does gets results.

    Failing to exercise our freedoms leads to losing them, and losing freedom of expression is a key step on the road to mass murder by governments.

    That said, see this:

    http://givemeliberty.org/RTPLawsuit/Research/Higginson–ShortHistory.PDF

  4. Unfortunately, the prudent will pay whether or not the bailout/bad loan workout goes through or not. We are between a rock and hard place – take on more debt and buy some time to affect change and perhaps a softer landing or
    trigger a damaging recession. Considering how the vast majority of Americans elected the clowns who got us into this mess, my choice is to put the debt on everyone (except those of us who are registered Libertarians, made a contribution to Ron Paul, or can otherwise prove that we have warned against this pile up for many years.)

  5. No way, No How … No Bailout. Did you know many of the fat cats who circulate from board to board and from job to job throughout the financial industry are also members of the Bilderberg Group and or the Trilateral Commission, founded respectively in 1954, and in 1973, in New York City? When someone takes your money and steals your car, it makes an impression. When they belong to such a shadowy political clique, it leaves an indelible impression. Many elected officials even belong to these cabals, hence the secrecy. When Bill Clinton eased banking restrictions, he dished out $8-billion dollars for “community reinvestment loans.”

    When the financing schemes fell through, as is their wont whenever 30-million Mexican nationals buy inflated properties and default, it left banks in the lurch. Hillary Clinton counted on the Politically Correct loan giveaways to buy votes. Interestingly enough, had Hillary secured the nomination; she, instead of Barack Obama would preside over the bailout. So, where’s that $8-bilion plus dollars? Where’s Hillary? Why the caveat in Section 8 of the bailout: “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?”

    The Global Initiative people (code speak for car thieves) took my money; they did in fact steal my car. If you or I did half the things these people have done, we’d be serving consecutive life sentences. Wise up, get angry, and let the bubble burst. Besides, a bailout guarantees us nothing. We’re going to be just fine. You have my word on it. Gentlemen, I want my money back: http://theseedsof9-11.com

    “You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.” –Andrew Jackson, on fraudulent financiers, 1832.

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