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Urgent Bailout Bill Sells Us To China-Updated

October 2, 2008
from SupportedtheBailout

"Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen." - Brad Sherman , D-California.

The Bill says:

(9) TROUBLED ASSETS.-The term ‘‘troubled assets'' means-

(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability;

and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.


 

Note carefully - there is no "Made in the USA" requirement, and nothing prohibits a non-US institution from "selling" a security to a US bank, which then immediately resells it to the TARP. Nor is there any provision to prevent Secretary Paulson from defining any other financial asset as "promoting financial market stability", and while he must notify Congress, they cannot block his purchase.

CONTACT YOUR REPRESENTATIVES RIGHT NOW AND TELL THEM THEY MUST FILIBUSTER THIS BILL; THIS BILL WAS WRITTEN TO BAIL OUT THE G-DAMN CHINESE, NOT AMERICANS, AND WE WILL NOT ALLOW THIS!

If you are having trouble getting through to http://www.house.gov/ or http://www.senate.gov/ to get your Senator and Rep phone and fax numbers, use my lookup engine instead.

As for the Senators who voted for this bill - we'll soon have a "Hall of Shame" nametag gallery for you. America will not forget that you intentionally concealed a foreign declaration of economic warfare against the United States.

ALL 435 MEMBERS OF CONGRESS WERE FAXED THIS LETTER TODAY (10/2 11:14 AM); NO CONGRESSPERSON HAS AN EXCUSE FOR VOTING FOR THIS BILL GIVEN THAT IT IS DRIVEN BY FOREIGN EXTORTION, NOT MAIN STREET USA.

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