blank'/> Liberally Lean From The Land Of Dairy Queen: This Man Has A Big Bag Of Your Money - And He Intends To Use It

9.22.2008

This Man Has A Big Bag Of Your Money - And He Intends To Use It

The text of the $700 billion government bailout bill is relatively short, very clear, and absolutely jaw dropping. In essence, it gives Secretary of the Treasury the authority to buy whatever mortgage loans he wants from banks across the nation and, heck, maybe even get pretty creative. Proof:
Sec. 2(b) Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act,
And what if he does something absolutely stupid or wants to bail out banks with whom he has past personal or business relationships? Get ready for the shocker:

Sec. 8. Review.

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.

I've never seen anything like what our federal government is doing right now. They are giving our money away and telling us to our face that there is nothing we can do to challenge it. And it's a bi-partisan slap in the face with a Republican president and a Democratic congress.

Land of the free? Sheesh. We're slaves to a federal entity that abuses us and does not fear us. Not exactly the cornerstone of a great nation.

(Credit: Houston lawyer Mark Bennett.)

35 comments:

Jarhead said...

To all who(m?) shall see these presents: greetings!

This is a bad deal. The Bush administration's bloated, meddling, interventionalist government is the very antithesis of traditional conservatism and a true setback for the "Republican" party going forward.

Disgraceful. If the Democrat controlled congress has a brain among them, they'll shut this bailout down and let the invisible hand smack some of these greedy financial firms around a little.

Of course that will never happen, because the Dems have as much at stake personally/politically as the Republicans do. The market will recover because it's efficient and it works. The economy will stagger under the weight of this bailout for years to come because it's influenced by the jerks on both sides of the aisle that we have chosen to run our country. That system is hopelessly broken.

That is all.

Carry on.

wordkyle said...

What is shocking to me is that you appear surprised. Washington DC does something to people.

Anonymous said...

Sad situation for Doug Supernaw. Anyone heard lately if he has gotten out of the mental home.

Anonymous said...

We're told that the US can't afford universal healthcare. But we can afford to bail out Wall Street.

Anonymous said...

Jarhead, be sure to check to see who is voting for this in the U.S. Senate and how much they received in donations from Fannie Mae. In order of amount received from Fannie Mae were: Dodd, Obama, Kerry. Please take a civic class and you might understand that a Democrat Congress has to pass on this. And you may also note that they are bought and paid for by Fannie Mae.

Anonymous said...

You're being fleeced for your money at every turn. DWI, traffic tickets, lawyers required for any and every stupid transgression, etc., etc.

And still you sit on your collective fat asses and watch TV.
Think the NFL and American Idol are what's important in life. You deserve everything you bitch about or don't care about because they have succeded in separating you from your cash while you obsess about every meaningless Hollyweird type on your 52" HDTV screen.

America has become the land of fools and the fools have willingly sold their souls to the state for the false images offfered up in the convenience of their living rooms.

TV is killing America. What about this are you too stoopid to see?

M-M said...

I have been against all these bailouts. This $700 billion deal sucks the most. I just can't believe how our government continues to sell us out.

The truth has come out on the AIG deal since last week. Did you see all folks in congress that had millions invested in AIG, thus stood to lose millions if not bailed out? That's why AIG got bailed out. Follow the money trail, is always true.

It doesn't surprise me to see Bush continue to betray the conservative values, which in this instance are smaller, less invasive government. Just so disappointing and frustrating.

Anonymous said...

Gripe gripe gripe....we're good at griping and not doing anything about it.

If the decision had not been made to bail out these companies our economy would be so bad and yo would still be gritching... except your wording would be a little different.

To me this seems like the most liberal move Bush has done....redistributing the wealth. This is what the libs pickett for every day. How can you gripe?

Anonymous said...

"Allow me to explain how our federal government works. To begin with, by the federal government I mean Democrats ad Republicans working together. And the only thing dumber than a Democrat and a Republican is when those pricks work together. You see, in our two-party system, the Democrats are the party of no ideas and the Republicans are the party of bad ideas. It usually goes something like this. A Republican will stand up in Congress and say, 'I've got a really bad idea.' And a Democrat will immediately jump to his feet and declare, 'And I'm can make it s**ttier.'"

-Lewis Black

Anonymous said...

I saw this on the news. The world is a scary place. I can't believe this one person has so much power.

Anonymous said...

If we could get as many Americans to go to the polls and vote as we have Americans with cable T.V., we might be able to take back control of this country. But, like 10:14 said, as long as you are willing to sit on your butts and watch the news and complain about what's going on instead of getting involved with change....you're screwed...blued...and tattoed.

When the voting public decide to vote ISSUES and not PARTIES, this US of A might just have a fighting chance. But, as long as individuals like WordKyle are as absorbed with being a die-hard Repub....irregardless of how bad the Repubs have screwed up this nation and econony.
The basis of the Repub party is finance and money. In Biblical times, Publicans were the " keeper of taxes and collectors of monies."
Democrats basic principles are individual issues. That's why we live in a "Democratic" society and support and defend"Democracy".

If you are just now waking up to the fact that the Gov't controls us.........well....WHERE THE HELL HAVE YOU BEEN??????

Anonymous said...

Shut up, go to the polls and re-elect your dumba$$ incumbent political office holders. Just like you do well over 90% of the time, every election.

Anonymous said...

They should go ahead and bail out Dallas ISD as well. Makes just as much sense.

At this point...I'm glad I'm poor and credit is ruined due to divorce.

Anonymous said...

I am somewhat surprised the Democrats are not flattered, Washington giving away money? I am somewhat even more surprised Republicans are not asking for Bush to step down, that is the most non-conservative move the Republicans have ever made. It's all being done to "Save America" my ass. It's all being done to save "their" sorry ass'. In the past people have talked about the Bilderbarger group. Now let's talk about the "New World Order" and the "Tri-lateral Commission". It's not about Republican and Democrats, it's about the money. Members of the TL or the NWO are H.W. Bush - Member, George Bush - Member, Bill Clinton - Member, Jimmy Carter - Member and the list goes on. The goal, three Super Powers such as the U.S., Europe, Japan (Tri=Three) run the world because they have the money. When problems arise such as we have right now and we make such a stupid move to relieve it we end up in more financial trouble, especially with a war, energy, etc. we have to come up with another plan which will probably be another 10 to 15 years down the road but the plan will probably include Super Powers. At this time however, we are bailing their (Washington elitist) ass out, not our's folks, theirs, but we cannot come up with health care, cures for cancer, cures for diabetes, cures for Lou Gerigs (spl) disease or Alzhimers (spl) but they can use our money to bail themselves out of a hole. The next time you need a loan, good luck!! The American public does however need to take some of the blame because we are the dumbass' who put them in office and let them remain. Washington has us all so rapped up in Liberal, Conservative, Republican, Democrat, He lied, They lied, He said, They said, we don't see what is really taking place behind all the hype. Put a few good business people in Washington minus all the hype, lobbyist and pundits and watch how fast this Country could turn around. If myself and 50 million other people would give Washington the finger and stop paying taxes we may get their attention.

Remote Controller said...

The really ironic thing is: The congress has been voting themselves out of power, the patriot act, the homeland security act and now this $700 billion bailout. After this bill is passed, we will be in a true fascist society and the congress will have no power to change it.

Anonymous said...

When do the people responsible for this mess pay for it? The people who invested in the banks and in doing so encouraged them to loan more money to make more money. The people who pushed through mortgage documents that were not entirely accurate. The people who bought houses on false pretenses or bad financial decisions. Why do I have to pay for the trouble?

I trust no politician. I think it's odd that Democrats are often controlling Congress when financial crisis hits and a Republican President gets blamed for it. I think it's sad that a President who promotes his ability to cross party lines doesn't get within sniffing distance of the party line.

Do we really have the best government system in the world or is that just what we want to keep believing? A system controlled by big money and special interests is the best? I think not.

Anonymous said...

OK,

Let's start with turning Kay Granger, John Cornyn, Phil King out.

yes, I realize I will have to turn on my own Repurblican Party to vote that way.

Let's make it clear to their opponent that have one term to "show their stuff" or they will be turned out at the next election.

Anonymous said...

Everybody's right...Everybody's wrong...except 725am is closest to right...we are all controlled by a very few who control the world money supply, everything spins off the flow or non-flow of $$$. As long as people have enough themselves they will not rise up..but just as soon as their own finances get squeezed, they want to join the fight..this applies to almost all of us. Do we really want to change this way of life we love..?? THINK ABOUT IT..!!

Anonymous said...

Amen to vote the positions not the party!!

Amen to term limits!!

Amen to placing those in Washington on the same health care, social security and retirement system we all are on!!

Amen to letting them know we "are madder than hell and we aren't going to take it anymore"

Families budget, take care of their children, pay bills, pay taxes, work, pay their mortgages and for the most part keep it all together, why in the hell can't those in Washington?
We put them in office to take care of us not their own sorry ass'.

Double Fake Neil Cavuto

Anonymous said...

We're leaving from the Wal-Mart parking lot on a one way bus to Canada at 2:00 this afternoon. Any takers?

M-M said...

10:14 How about this? Last night I sat on my couch and watched a NFL game on my 58" TV, with my laptop and wrote all our congress men and Senators about all this bailout stuff. So, see it is possible to watch TV and still be involved in trying to make a difference.

Anonymous said...

Has it not occurred to anyone that Congress lacks the power to circumvent "judicial review". That provision, at least, is unconstitutional on its face.

Anonymous said...

McCain's position is clear in this statement before the Senate in early 2006. It proves he had good judgement. The democrats voted against this legislation. They were bought and paid for.

Sen. John McCain [R-AZ]: Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

Quick Info
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005
Last Action: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Status: DeadI join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.

Anonymous said...

What about all of the people who have had their houses foreclosed on in the past year? Where was the U S government when their lives were being turned up-side-down? I'm don't agree with what the government is doing now. But you sure have to wonder what is going thru those peoples minds who have already lost their homes!

Anonymous said...

I like the way you point out that this is a bi-partisan problem. These bail-outs are not happening at the sole direction of a Republican president. He's not been perfect (no president has) but let's not make him the scapegoat for every decision made in Washington, either. Don't you think it's past time we took a long hard look at our government and found ways to change it?

Anonymous said...

Just the truth please. Barry, please forget party loyality and put on your prosecutor's hat for this one.

Here is a good explanation of how we got to this point in the Fannie Mae/Freddie Mac crisis.

http://www.ibdeditorials.com/IBDArticles.aspx?id=306370789279709

Mr. Bill Clinton and his pushing affirmative action subprime lending practices was the beginning of the end. That was followed by the bribing of Dodd, Obama and Kerry.

Anonymous said...

if someone could answer just one (1) question...what if 90+% of americans were totally against this..what could we do to stop this right now..? please anybody...

Anonymous said...

I believe the only way to avoid mass panic turned violent revolution will be to get this fiat paper money into the hands of the masses..quickly..it doesn't matter to the C&K..so long as their power remains intact..they can continue to print and distribute world currencies at will. Bottom line being the C&K owns the underlying assets..the land, properties used as collateral for this money being loaned to AMERICAN TAXPAYERS...I'll say again if you think you own your property/land/inventory..try not paying your TAXES..you'll soon find out who really owns your land etc and our country...all sad but true, were all sheeple U2JH..!!

Jarhead said...

10:58:

**SMACK**

Carry on.

Anonymous said...

Jarhead foolishly turns this into a partisan issue as if the Dems were behind this plan. IT CAME FROM THE WHITE HOUSE & PAULSON for Pete's sake.

It's a big screw you to the Congress, the courts, and the taxpayers. This White House supports the rich. It's that simple. Big Oil got their treats early. Now Wall Street's gonna get theirs before the clock runs out the the GOP is back out of power.

If you are a Republican you should be working to retake and rebuild your party that has been hijacked by wealthy lunatics who are trying to have it all and destroying our country in the process. Ron Paul? Bob Barr? Just please, don't blame the Dems for the fact that George Bush, Dick Cheney and their team put us in this mess. It's a fact. Grow up and take some responsibility for your enabling of these thieves. If you really love your country then don't make excuses for these people. They wouldn't lift a finger for you.

Anonymous said...

To 10:44
That is a question like" What would happen if the unstoppable object met the immovable object".
You will never see 90% of the American population stand together for an issue. That would mean 10% are left scratching their butts. Whereas in reality, today, 10% vote and make decisions for the other 90% who are scratching their butts wondering what happened to our system, our officials, our economy and complaining about the retards we ( the 10%0 elected into office.
M-M.....you are one of the cable/wireless users.......did you vote last election? You involved in local politics? Do you attend you political party's meetings? City Council meetings? County Commissioners Court meetings? Local ISD meetings?
Hmmmnnn....if I were a bettin' man, I'd say no to most of those.

Jarhead said...

12:38:

Boy, you did some selective reading of my post.

Try reading it again.

M-M said...

12:44 If you were bettin on those, you'd lose. And that's my point, you were carrying on about people watching TV and doing nothing and claiming TV is what's wrong. That's NUTS! Hello, how about dishonest politicians, bankers, CEO's etc, etc. That's what is wrong. They are fleecing America from DC and me going to a ISD board meeting has nothing to do with the crap going on in DC. Pull your head out, please!

Anonymous said...

The man is a liberal weenie. Enough said.

Anonymous said...

mr 1244 i will tell you this..90+% of americans stood together during the great depression...and we may stand together again in same condition..but far worse this time..due to many factors..300,000,000 population armed and dangerous as opposed to the generation who got through the depression together. if there's one thing our leaders know it is they will do anything to avoid all out panic..imagine what our country would soon look like..USSR..!