Homestead mailing list

[bob ford <bobford79 AT yahoo.com>]

The local banks and credit unions still have to borrow money from the 
"system.  Try to draw off your credit union heloc, and see if your ability 
hasn't been throttled , even if your personal fico score and income has 
remained rock steady.
 
You say:  "Bank local".  If you bank at a small local bank, ask them if they 
receive systematic infusions of money from banks within the larger overall 
system.  When it gets right to the matter, they are all 'allowed' to operate 
by the Fed, large or small.  Unless there is a gold/silver bullion bank of 
which I have not heard.....bobf



----- Original Message ----
From: Lynda <lurine AT softcom.net>
To: homestead AT lists.ibiblio.org
Sent: Sunday, September 21, 2008 11:03:55 AM
Subject: Re: [Homestead] Buddy, can you spare $700B.

Well, I suppose this could be true because just like everything else (Third 
Party, Buy Local), the average dumbed down, Hummer driving, soccer mom type 
sheople don't get it.  Little local banks aren't going to fail, nor are the 
little local owned credit unions.  They don't rely on playing with money to 
survive.

Now, if everyone simply woke up and smelled Rome burning, they'd get off 
their ignorant assets and vote Third Party, buy local, dump the hummer, 
remember that legs are for walking, their kid doesn't "need" a Blackberry or 
a cell phone, they don't "need" to buy, buy, buy and they should be 
supporting their little local community owned bank!

Lynda
----- Original Message ----- 
From: "bob ford" <bobford79 AT yahoo.com>


I read one estimate that between 5000 - 8000 banks will fail, within the 
next five years. If true, the staistics alone are disturbing, but the result 
is frightening. Our banking system will becom even more centralized, more 
controlled by the same moronic clowns who control Wall Street and Congress 
today.

I just hope for a day when the regular working people realize that, for the 
most part, the "wizards of the universe" are not the "best and the 
brightest", they are simply the best connected and least scrupulous.

If these crass people can keep their ill-gotten gains, upon the tax-paying 
back of people who actually do physical work, in the heat, the cold , and 
the rain, then, i don't see any brightness in the future of our country, 
unless it is the light of well placed fires, lit bit highly principled young 
people. ....bobford



----- Original Message ----
From: "Clansgian AT wmconnect.com" <Clansgian AT wmconnect.com>
To: homestead AT lists.ibiblio.org
Sent: Sunday, September 21, 2008 4:29:48 AM
Subject: [Homestead] Buddy, can you spare $700B.

As of this week you will be living in a different country.

The bailout of the mortgage industy, the 'don't want to discuss anything so
insignificant as the housing bubble', the 'ain' making any more land -
recovery is just around the corner - never been a better time to buy' 
industry,
contains the following, these are quotes from the proposed legislation:


"TheSecretary's authority to purchase mortgage-related assets under thisAct
shall be limited to 700,000,000,000 dollars outstanding at any one time"

(That is, it isn't a $700B bailout, that's just the amount that can be
outstanding at one time. This bill authorizes the treasury to spend an 
unlimited
amount of money)

"The Secretaryis authorized to take such actions as the Secretary deems
necessary tocarry out the authorities in this Act, including, WITHOUT 
LIMITATION"

""Designating financial institutions as financial agents of the
Government,and they shall perform all such reasonable duties related to this 
Actas
financial agents of the Government as may be required of them"

(That is, the Sec. of Treasury can appoint any of his banking buddies as
deputies and they can have the same authority and impunity as he has)

"Sale of Mortgage-Related Assets. The Secretary may, at any time, upon terms
and conditions and at prices determined by the Secretary,sell, or enter into
securities loans, repurchase transactions or otherfinancial transactions in
regard to, any mortgage-related assetpurchased under this Act."

(That is, the Sec of Treasury can buy worthless assets from his buddies for
the full face value and then sell them for five cents on the dollar and the 
US
taxpayer picks up the tab for the difference).

And this is the clincher:

"Decisions by the Secretary pursuant to the authority of this Act are
non-reviewable and committed to agency discretion, and may not be reviewed 
by any
court of law or any administrative agency"

Nobody, not even God, can regulate or oversee the Secretary of the Treasury,
not the courts, congress, nobody. It makes the Secretary of the Treasury the
dictator and emperor of the country. </HTML>
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View the archives at:
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