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In a speech yesterday, Congressman Brad Sherman told the House that the only way "they" could pass the bill, aka Emergency Economic Stabilization Act of 2008 was "by creating and sustaining a panic atmosphere" and that that atmosphere is not justified. The Congressman then went on to say that many of his colleagues were told that if they voted against the bill (on Monday) that:
"the sky would fall, the market would drop two or three thousands points the first day, another couple of thousand the second day, and a few members were even told that there would be martial law in America if we voted no".
I was pleasantly surprised to see these words from the house and now bail out bill was passed 240 to 160 means 40% voted NO. So it is not bad , as we thought , But that is not enough. we are already SCREWED ( for eternity ? ).
This bailout bill had so much "pork" added it to that the "sweeteners" motivated all the new "yes" votes. Yes, we still have the best U.S. Congress that "money" can buy, even if the money is mere fiat "debt assignment notes" in a fractionalized banking system. This bailout bill will do nothing for Wall Street, who will still have to clean up its own act. Fearmongering is the order of the day and our Alfred E. Newman lookalike was ready to sign it right into law. What? Me Worry?
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I was pleasantly surprised to see these words from the house and now bail out bill was passed 240 to 160 means 40% voted NO. So it is not bad , as we thought , But that is not enough. we are already SCREWED ( for eternity ? ).