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| 5/23 |
| 2008/9/22-29 [Politics/Domestic/President/Bush, Politics/Domestic/SocialSecurity] UID:51255 Activity:nil |
9/22 If you would like to call your senator or representative about the
$700B bailout (the one where Congress would give Hank Paulson sole
discretion on what to spend it on), but are not sure what to say:
http://www.tickerforum.org/cgi-ticker/akcs-www?post=62163
(I left messages over the weekend with Mike Honda, Boxer, and
Feinstein. I also said that bank transparency needs to happen
SIMULTANEOUSLY with any money disbursement. How in the hell do you
have any negotiating power when you give the money first and negotiate
later on reform measures?)
\_ Look how well it worked in Iraq!
\_ also see: -op
http://www.businesswire.com/news/home/20080922006376/en |
| 5/23 |
|
| www.tickerforum.org/cgi-ticker/akcs-www?post=62163 Add To Your Ignored User List The following was posted by Comrade Eleua Quote: My Ticker Brethren: I have spent the last hour calling my reps in Congress. They are getting screamed down by the people of the USA. I have actually found a methodology that puts your concerns above those that are calling to vent frustration. Listen carefully: When the staffer picks up the phone, tell them that you understand they are getting slammed and that you are not calling to scream at them. Tell them that you understand that Congress is scared of what Paulson/Bernanke have given them. TELL THEM THAT YOU HAVE A SOLUTION - AN OUT - THAT ALLOWS CONGRESS TO KEEP ITS CONSTITUTIONALLY MANDATED POWERS OF FINANCIAL OVERSIGHT AND REGULATORY AUTHORITY, AND SOLVES THE PROBLEM SO THAT WE NEVER FACE THIS AGAIN. Outline the three problems with the banks: 1 Fictional accounting 2 Unregulated derivatives 3 Overleverage Tell them that your solution is to address the causes, not the symptoms. ORG The staffers I have talked to have done this with me on the phone and are now viewing Karl's "solutions" video. What they do with it is presently unknown, but it sure beats the hell out of just them tallying one angry phone call after another. IF the DC number is jammed, call the primary phone number in the district, then try the DC number again. ALSO, FOR THOSE OF YOU WHO HAVE NOT VISITED FedUpUSA IN THE PAST 12 HOURS, YOU NEED TO GO THERE RIGHT NOW, BEFORE YOU DO THIS, WATCH THE VIDEOS AND READ THE LINKED DOCUMENTS, SPECIFICALLY THE FIRST LINKED DOCUMENT. This was taken directly to the Senate, but I really think that the guys who are closer to the people will make louder noise - and that would be the House of Representatives. I mean really - when was the last time your Senator visited your district and talked to a single human being there? They're the ones who are going to have to be down in the trenches facing the people. Add To Your Ignored User List I always try to use that method of being friendly to the staffers. Talk to them like your are giving some inside information because you care about them. As to the facts, I have a simpler and quicker approach-- tell them what the dollar and oil are doing. Explain in very simple terms why dollar is falling and oil shooting up again. Explain that these are objective facts they can verify very easily from charts on google finance. Add To Your Ignored User List Well, none of my NJ Senators or Congressman have a position yet according to their phone answerers. Pascrell}, the other two were too busy answering phones to listen to our three suggestions but noted my opposition to the bill, they sounded harried so it seems people are getting through. They ascribe failure to a lack of inspiration or ability, or to misfortune, rather than to insufficient application. At the core of every true talent there is an awareness of the difficulties inherent in any achievement, and the confidence that by persistence and patience something worthwhile will be realized. |
| www.businesswire.com/news/home/20080922006376/en -> www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20080922006376&newsLang=en BUSINESS WIRE)--According to Karl Denninger, of FedUpUSA, the $700 billion bailout proposed last week by Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson effectively anoints Paulson "King" of American Finance. The plan for the largest bailout in history has been rapidly crafted and is being forced through Congress a week before recess, effectively moving Wall Street's disaster to Main Street with little discussion and less understanding, according to Denninger. The bailout does not address the issues affecting market confidence and will severely undermine the United States' balance sheet. "The plan has been sold using fear rather than facts to both Congress and the American people," said Denninger, of FedUpUSA, a grassroots organization, and The Market Ticker, provider of commentary on capital markets. "The fear gripping our financial markets flows from a lack of trust in the health of firms on both Wall Street and worldwide," said Denninger. "Throwing money around does nothing to address the root cause and, in fact, simply creates further instability as we continue to have government fiat choose which firms succeed and which ones fail." Currently, interest on the national debt is the second largest expenditure besides military (this excludes Social Security and Medicare which are included in the Unitary Budget, but funded separately). The $700 billion bailout, which could potentially end up costing much more, will add even more debt interest. Debt interest has the potential of becoming the largest budget item, dwarfing the entire budget. This in turn could lead to capital flight from the United States and a devaluation of the US dollar, already significantly depreciated under Secretary Paulson, among other things. FedUpUSA and Denninger are advocating for an alternative - a plan that will restore confidence by ensuring that all market participants are able to objectively value firms, thereby calming both the credit and stock markets. |