Here it Comes!:: U.S. to Form Another RESOLUTION TRUST CORPORATION to BAILOUT!!!

[HOLLYWOOD]

Paulson on the FRONT PAGE! another RTC

http://www.cnbc.com/id/26773689

Jack Kemp, an financial Minion of John McCain, (Remember McCain's Financial Miss Teen South Carolina response to Ron Paul during the presidential debate?)
and others, FOX NEOCONS, CNBC Cheerleaders, NY Times, ... Financial Debt Armageddon

ALL calling and pushing for Another: U.S. RESOLUTION TRUST CORPORATION

Exactly what BAILED-OUT the Savings & Loan Charade of the late 80's early 90's.

Please be AWARE:

The government told the people and country it will need about $50 BILLION to resolve the Savings and Loan Scandal.

Final S&L bailout Tally:

$236 BILLION

http://www.nytimes.com/2008/09/17/business/17resolution.html?_r=1&oref=slogin

DO NOT ENTRUST THE GOVERNMENT, FED, POLITICIANS, BANKS to do this. WE PAID for this... another INDIRECT, OPAQUE, HIDDEN COST BAILOUT!

Please communicate this everyone... No more INDIRECT/OPAQUE BAILOUTS

Contact your U.S. Representatives to kill this type of BAILOUT INITIATIVE

 

[HOLLYWOOD]

More on it via Bloomberg:

http://www.bloomberg.com/apps/news?pid=20601087&sid=ap5S4G6bhJ2M&refer=home

Officials Weighing Plan to Ease Crisis, Senator Charles Schumer D-NY

By Alison Vekshin

Sept. 18 (Bloomberg) -- U.S. Treasury and Federal Reserve officials are considering a ``permanent'' plan to address the financial crisis, said Senator Charles Schumer, who proposed a new agency to pump capital into troubled financial companies.

``The Federal Reserve and the Treasury are realizing that we need a more comprehensive solution,'' Schumer, a Democrat who chairs the congressional Joint Economic Committee, told reporters in Washington today. ``I've been talking to them about it.''

Senator Schumer proposed an agency to inject funds into financial companies in exchange for equity stakes and pledges to rewrite mortgages to make them more affordable. His remarks indicate momentum is building for some wider plan after the Fed and Treasury's takeovers of Fannie Mae, Freddie Mac and American International Group Inc. this month.

Discussions with the Treasury and Fed focus on ``trying to do something more permanent'' after the series of government interventions, the New York senator said. For the Fed, ``it's hard for them to do monetary policy, which is their primary task, and then run all these businesses,'' he said.

Fed officials announced an $85 billion takeover of AIG two days ago, hours after leaving their benchmark interest rate unchanged in a decision that rebuffed some investors' calls for a cut.

Fed Functions

``There is some preliminary discussions about how to sort of encapsulate and separate the two -- both to keep focus on monetary policy by the main Fed leaders, but also to prevent any conflicts of interest,'' Schumer said.

Lawmakers are weighing responses to a crisis that prompted Treasury Secretary Henry Paulson to seize Fannie and Freddie and caused the bankruptcy of Lehman Brothers Holdings Inc. in the past two weeks.

Schumer proposed a solution using the Great Depression-era Reconstruction Finance Corp. as a model.

``This step would allow federal and private efforts to modify loans, and avoid defaults and foreclosures, which have been at the root of the turmoil in U.S. financial markets,'' Schumer said in a statement today.

House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat, this week proposed Congress create a federal entity to buy bad loans. Senator Hillary Clinton of New York, a former candidate for the Democratic nomination for president, proposed resurrecting a 1930s-era agency to stem foreclosures.

``We need a modern day Home Owners' Loan Corporation,'' Clinton said in remarks at the Senate today. ``There will not be any semblance of a normal or orderly market'' without ``quarantining'' the devalued loans outstanding, she said.

The HOLC bought up outstanding mortgage and issued new, more affordable loans that helped people stay in their homes, Clinton said.

To contact the reporter on this story: Alison Vekshin in Washington at [email protected]

 

[Mister Grieves]

So this will be the move that buys them enough time to keep things together until the elections, I take it.

 

[ord33]

The stock market definitely appears to be moving in the upward direction on this news. It has went up drastically here very recently since the discussion of the RTC.

Not that I'm for a RTC type solution....

 

[autobot]

Looks like the markets think the RTC will solve all the problems. Dow up400+ and gold lost its 50 dollar gain for the day.....

I don't trust it at all but still feel relieved anyway..........

 

[wizardwatson]

The markets will go up and the dollar will go down.

 

[autobot]

THe dollar is up....Really confusing.

 

[Crash Martinez]

Looks like the markets think the RTC will solve all the problems. Dow up400+ and gold lost its 50 dollar gain for the day.....

I don't trust it at all but still feel relieved anyway..........

Relieved? I've never been so NON-relieved to see the Dow shoot up 500pts. This "solution" is nothing but the guarantee of Socialism and hyper-inflation.

Don't bother reading about 20th C. Russia, Cuba, Yugoslavia, Poland, etc... You're about to live it firsthand.

 

[autobot]

It easy to be relieved when stocks and the dollar go up because of some magical RTC thing which who the heck even knows what that is?

I think its just an 80's catchphrase for taxes paying off banks debt....but I am sure ya'll will enlighten me

 

[Brian4Liberty]

Facsist economics...

 

[PatriotG]

TOTAL BS!

I do not want to pay into this fund.
Not unless they give me all of my Social Security Money up front from that "Trust Fund".

Then I will consider it!


We need a revolt....I see this as nothing more than a major ripoff.

e.g John Thain walks away from Merrill with Millions. This is what we are paying for?

Man Im Pissed about this.

 

[Vote Waterman 2028]

Relieved? I've never been so NON-relieved to see the Dow shoot up 500pts. This "solution" is nothing but the guarantee of Socialism and hyper-inflation.

Don't bother reading about 20th C. Russia, Cuba, Yugoslavia, Poland, etc... You're about to live it firsthand.

agreed.... ive done reading on both russia and cuba, along with argentina. It seems were heading in the same direction. All i see is hyperinflation on the horizon, but it wont just be the US who suffers....asian and european markets will be hurting big time as well. But im not an economic expert, so maybe bernanke is a savior and were all just wrong, let us pray....

 

[georgiapeach]

If we do have hyperinflation, will PM's value inflate also?

 

[HOLLYWOOD]

Facsist economics...

WAIT! It gets Worst...

US Senator Charles SCHUMER's Solution Video:
http://www.cnbc.com/id/15840232?video=860130242&play=1


Bill Clinton is opening his mouth, enforcing a RTC/RFC type bailout. Spews tons of Socialistic Crap to Maria Bartilromo on CNBC.

He states: Greenspan wasn't the problem, "If there was an ENERGY policy induced 6 years ago the money would of went internal to the new technologies and this crisis wouldn't have been nearly as BAD.

NOW Clinton's NWO

http://www.clintonglobalinitiative.org/NETCOMMUNITY/Page.aspx?pid=2356&srcid=-2


http://en.wikipedia.org/wiki/Clinton_Global_Initiative


NOW some of the SPONSORS, can't forget that Money Trail:

http://www.clintonglobalinitiative.org/NETCOMMUNITY/Page.aspx?pid=2513&srcid=2458

 

[ord33]

Josh Rosner on CNBC's Fast Money today at about 5:20pm Eastern had about the best idea(s) and solutions I've heard yet.

This guy needs to get his idea in there instead of the RTC.

EDIT: Add - Does anyone have a youtube of this. I'd like to hear this again because to me what he said made a lot of sense.

 

[Paul.Bearer.of.Injustice]

the RTC is just an anti-Treasury

 

[misericordia]

desperation breeds faith in anything but freedom. apparently.

 

[HOLLYWOOD]

desperation breeds faith in anything but freedom. apparently.

Here's the USUAL SUSPECTS coming up with their own BAILOUT plan/SCHEME:

Talk about Chimps running the Financial Zoo!

Dubya Bush
Dick Cheney
Hank Paulson
Ben Bernake
Sheila Blair
Nancy Pelosi
Harry Reid
John Boehner


None have contacted Ron Paul, why? Because they want to do another ILLEGAL UNCONSTITUTIONAL ACT to bailout their financial Campaign backing, Corporate/Lobbyist Klan.