How do you grain more or less the bailout covering credit card debt, corporate debt and other non-mortgage debt?
The bailout is not restricted to mortgage-related debt.
Did you hear the media or any of the politicians alluding to that fact?
Read the bill -- specifically, the definition for troubled assets - earnings close attention to sub-clause (B).
"(9) TROUBLED ASSETS. -- The term "troubled assets" means--
(A) residential or commercial mortgages and any securities, obligations, or other instruments that are base on or related to such mortgages, that in respectively case was originate or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and
(B) any other financial instrument that the Secretary, after consultation next to the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but singular upon transmittal of such determination, in writing, to the appropriate committees of Congress"
Sub-clause B means that two unelected official - one from the government (Paulson) and one from a private baking cartel (Bernanke) can decide what types of assets crash down under this legislation. That is totally absurd.
Don't be fooled by the misleading expression in sub-clause (B) "but only upon transmittal of such determination, within writing, to the appropriate committees of Congress". That language exists to provide a talking point to put up for sale the bill. That is not a requirement for Congressional approval - it is merely a duty to inform.
Senate bill:
http://www.govtrack.us/special/econstimb…
Go here for links to various versions of the House and Senate bills
http://www.theopenhouseproject.com/2008/…
If you are not OK next to this, will you contact your reps by email and phone NOW to tell them you are still opposed to the bailout surrounded by any form?
Capitol Hill Switchboard: (202) 224-3121
Congress
http://www.house.gov/
https://forms.house.gov/wyr/welcome.shtm…
Don't give up if they are busy. Call the local offices if you must. Those links may be slow any from high traffic. If so, search Google for other sources for contact information.
Answers:
I chew over the police should look into this. It is a case of shoplifting. Where everything be lifted by those in the shop.
All debts and monies owed by private individuals to these companies must and should still be collectable.
I say a big NO.. 65% of Americans are against it..
cant do anything more or less it so whats the point,its done,maybe not,still another vote.
Let me start by saw that I believe that credit cards are nothing by legal loan sharks. They allow credit card providers to victimize relations who cannot handle money. They get individuals hooked on "credit", as if using credit is a good thing.
Credit is the aptitude to go into debt. Debt is not a good article, unless you are the creditor, and you are legally able to charge outrageous interest. People near self discipline, understand that you can't have everything you want, right very soon. They understand that we need to establish our priorities, and afterwards make choices. Economics means choice.
So what the credit card companies own done is to put millions of Americans in debt, many of whom cannot achieve out of that debt. Besides enticing people into this debt, they charge the merchant 3% on all credit card transaction, which increases the prices of these products by 3%. And immediately, these criminals want the taxpayers to cover their interest receipts from those who are unable to pay?
I expect this qualifies as a conspiracy to defraud the American taxpayer. What do you think?
For what it is worth, whether you believe it or not, those industrries are subsequent to fall. Already the car loans, credit crunch and those debts are tightening around here. Good luck at getting any credit immediately. It is not hidden, it is forcast and needs to be included to collect those markets too.
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