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Old 09-21-2008, 01:51 AM
 
177 posts, read 232,611 times
Reputation: 105

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Bush Administration Seeks "Dictatorial Power"

Note: This is serious and powerful information. This man Mish predicted the Crush of our monetary system, years ago. If only I had listened.

Bloomberg is reporting Treasury Seeks Authority to Buy Mortgages Unchecked by Courts.[indent]The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets.

Last edited by TnHilltopper; 09-21-2008 at 10:36 AM.. Reason: Copyright
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Old 09-21-2008, 02:11 AM
 
27,903 posts, read 34,437,106 times
Reputation: 4031
"Senator Christopher Dodd, the Banking Committee chairman, said the plan's framers should consider the full debt load of U.S. consumers, possibly including credit cards."



That's the way it goes.....

Next we will start hearing about how irresponsible we are and how financially we just can't handle our money very well....

Then we get "bought" out......

Soon you start requesting health service in advance...

Shortly after you start receiving your monthly check along with birth control and a letter you must sign saying you will only have 1 child (male).

Next we turn in all our guns....

Then you get the "do's" and "don't" list....


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Old 09-21-2008, 02:27 AM
 
177 posts, read 232,611 times
Reputation: 105
You know what the big irony of this all is? The banks and mortgage companies became greedy offering loans to people that could not afford them or those who had bad credit. Then they neaty tied these loans up with pretty packaging and ribbon and handed them over to investors/stock market to be sold in the open market.
Was this in a sense criminal? YOu betcha!! They walk away free with a big wad of money and we the taxpayers foot the bill. Amazing, only in America.
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Old 09-21-2008, 03:52 AM
 
2,173 posts, read 2,525,713 times
Reputation: 880
To those who lost their home or will lose their home to foreclosure, or who can't make their mortgage payments I just want to offer a big 'Thanks a lot' for putting us all in this mess!
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Old 09-21-2008, 05:04 AM
 
1,163 posts, read 1,963,689 times
Reputation: 1106
Wanna see tyrannical behavior? I suggest you read each President's executive orders from the last 20 years. Scary, scary stuff.
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Old 09-21-2008, 05:27 AM
 
454 posts, read 678,656 times
Reputation: 101
Thank you for this post. we can't just be bailing out companies that made dumb investments.

The executive branch has become so powerful at the expense of do-nothing-me-first congress.
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Old 09-21-2008, 05:48 AM
 
127 posts, read 202,333 times
Reputation: 44
What worries me is what happens when China doesn't want to lend us money anymore? I came across a news article from 2007 the other day that said China was hinting then that they don't want to lend the US money anymore. The interest rates are too low and there are better ways to invest their money.
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Old 09-21-2008, 06:47 AM
 
Location: Charlotte
12,646 posts, read 13,916,104 times
Reputation: 1679
Quote:
Originally Posted by ZGACK View Post
To those who lost their home or will lose their home to foreclosure, or who can't make their mortgage payments I just want to offer a big 'Thanks a lot' for putting us all in this mess!
You're pointing the finger at the wrong folks.
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Old 09-21-2008, 06:55 AM
 
Location: Ohio
19,903 posts, read 14,228,365 times
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Quote:
Originally Posted by ZGACK View Post
To those who lost their home or will lose their home to foreclosure, or who can't make their mortgage payments I just want to offer a big 'Thanks a lot' for putting us all in this mess!
I think automatic wage garnishments are in order. Also, state and federal income tax refund seizure. Those people need to be made to pay off their foreclosed mortgages.

Perhaps in doing so, it will scare other people into not getting mortgages without putting at least 30% to 40% down (like they used to do).
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Old 09-21-2008, 07:13 AM
 
Location: a warmer place
1,748 posts, read 4,933,946 times
Reputation: 758
Quote:
Originally Posted by Mircea View Post
I think automatic wage garnishments are in order. Also, state and federal income tax refund seizure. Those people need to be made to pay off their foreclosed mortgages.

Perhaps in doing so, it will scare other people into not getting mortgages without putting at least 30% to 40% down (like they used to do).
It really is a combination of greedy lenders and greedy borrowers. Both are to blame. We are all just stuck cleaning up the mess. But as a country we need to stop living on debt and start living more honestly. Those of us who have been doing this all along are going to get penalized anyway. But maybe now, as a country people will be more careful and smarter about the way they do thnigs.
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