[quote=underdose]I suspect there may not be another bail out. I don’t know if the new bailout that did pass had the same language as the first one that got shot down. If it did, with the Treasury getting basically unlimited power with no accountability to anyone, this bailout might turn out to be sufficiently an open ended blank check. The $700 billion will magically transform into trillions, maybe about 3 to 5, without another bill being passed. When? Gradually over the coming months. The bailout will do absolutely nothing to prevent the collapse, just as nationalizing Freddie and Fannie and AIG did absolutely nothing, so as the economy continues to deteriorate in the coming months, they will just keep pouring more and more money on it. But I’ll bet they will do it mostly on the sly. And they will really freak when the Xmas retail numbers are weak…[/quote]
Bingo! The new bill is the same as the old with 140 billion extra in pork for the greasy little congress people to dine on, so it’s now up to 840 billion now. No need for a new one he has a blank check. I think he might have to get a note signed by the president or something to access more funds. But no inconvenient vote. I’m sure it will be the strictest of oversight;)
I don’t think bail-out is the correct word. Maybe “Kleptocracy transition bill” or what ever perverse form of government we are going to.
“The one thing that’s been proven is the absolute fear-mongering that’s being used to drive us is false,” Sherman said. “I’ve seen members turn to each other and say if we don’t pass this bill, we’re going to have martial law in the United States.”
Ok, so the legal structure of martial law is no congressional oversight i.e full dictatorial powers given to the president. I’m not sure there is a difference between a threat of martial law and actual martial law philosophically. Maybe the congress people are just paranoid nut-jobs?
I think it is safe to assume we are not in Kansas anymore.
