2012: Countdown to Ascension

Entry for September 29, 2008

A Major Mistake

Congress is poised to pass the Bankster Bailout Bill, which is little more than a massive corporate-welfare-largesse plan.

Members of Congress undoubtedly have heard plenty of heat from outraged constituents, but apparently this has been nullified by a combination of extreme fear tactics and an invitation to join the feeding at the trough.

The major media appears to be avoiding coverage of protest demonstrations against the Bankster Bailout, thus contributing to the myopic reasoning among our leaders that they can skate through this without major consequence. My intuitive read is that they have seriously underestimated the public's capacity to understand that they are being abused and sold out, and their capacity for anger in response.

The proposed bill does very little to address the homeowner's plight - this shows just how completely divorced from reality and common sense our leaders have become.

Common sense would dictate, that as a minimum, a foreclosure moratorium and mandate to renegotiate all troubled mortgages would be at the top of any legislation. This would help ordinary people and stabilize the housing market at the same time.

Instead, Republicans fought any attempt to allow bankruptcy courts to adjust mortgage terms. These are the same Republicans who brought you the bankruptcy "reform" act a few years ago, which sticks even more knives into the suffering masses.

This is all a major mistake, and the consequences will be swift to follow. In coming months, foreclosures are sure to escalate, and the downward spiral will continue. The Banksters may end up owning a huge portfolio of vacant real estate, but the value will continue to drop. Eventually, major civil unrest is likely. Perhaps that is why troops are being deployed domestically.

Many cooler heads are refusing to get sucked into the administration's fear mongering. Here is a sample: http://www.huffingtonpost.com/david-sirota/top-5-reasons-to-vote-aga_b_130068.html

http://rawstory.com/news/2008/Kucinich_says_bailout_doesnt_have_votes_0928.html

-Darkwave

2008-09-29 14:27:36 GMT

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		Connecting the dots...An Intuitive look at the ongoing paradigm shift that is altering our world.

		Entry for September 29, 2008 A Major Mistake Congress is poised to pass the Bankster Bailout Bill, which is little more than a massive corporate-welfare-largesse plan. Members of Congress undoubtedly have heard plenty of heat from outraged constituents, but apparently this has been nullified by a combination of extreme fear tactics and an invitation to join the feeding at the trough. The major media appears to be avoiding coverage of protest demonstrations against the Bankster Bailout, thus contributing to the myopic reasoning among our leaders that they can skate through this without major consequence. My intuitive read is that they have seriously underestimated the public's capacity to understand that they are being abused and sold out, and their capacity for anger in response. The proposed bill does very little to address the homeowner's plight - this shows just how completely divorced from reality and common sense our leaders have become. Common sense would dictate, that as a minimum, a foreclosure moratorium and mandate to renegotiate all troubled mortgages would be at the top of any legislation. This would help ordinary people and stabilize the housing market at the same time. Instead, Republicans fought any attempt to allow bankruptcy courts to adjust mortgage terms. These are the same Republicans who brought you the bankruptcy "reform" act a few years ago, which sticks even more knives into the suffering masses. This is all a major mistake, and the consequences will be swift to follow. In coming months, foreclosures are sure to escalate, and the downward spiral will continue. The Banksters may end up owning a huge portfolio of vacant real estate, but the value will continue to drop. Eventually, major civil unrest is likely. Perhaps that is why troops are being deployed domestically. Many cooler heads are refusing to get sucked into the administration's fear mongering. Here is a sample: http://www.huffingtonpost.com/david-sirota/top-5-reasons-to-vote-aga_b_130068.html http://rawstory.com/news/2008/Kucinich_says_bailout_doesnt_have_votes_0928.html -Darkwave 2008-09-29 14:27:36 GMT Site Home