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Under Proposed Bailout, Feds Could Speculate, Nationalize Any Company or Industry, Or Do Anything Else They Want Using Taxpayer Money

Posted By admin On September 22, 2008 @ 11:42 am In Featured Stories | Comments Disabled

George Washington’s Blog [1]
Monday, Sept 22, 2008

The Fact Sheet [2] from the U.S. Treasury states:

 

The purchases are intended to be residential and commercial mortgage-related assets, which may include mortgage-backed securities and whole loans. The Secretary will have the discretion, in consultation with the Chairman of the Federal Reserve, to purchase other assets, as deemed necessary to effectively stabilize financial markets.

 

So Paulson, in consultation with Bernanke, could “deem it necessary” to “stabilize” the financial markets by buying boat loads of gold. Or by cornering the market in uranium or platinum.

Or they could decide that they needed to buy Microsoft and Google.

Just like Bush and Cheney have gotten us into oil wars and wars to protect Israel [3] under the guise of being necessary to protect our national defense, Paulson and Bernanke could do anything they want by pretending it is for the stability of the financial markets, especially since no one could challenge their actions in court [4].


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URLs in this post:

[1] George Washington’s Blog : http://georgewashington2.blogspot.com/2008/09/under-proposed-bailout-feds-could.html

[2] Fact Sheet: http://www.ustreas.gov/press/releases/hp1150.htm

[3] oil wars and wars to protect Israel: http://georgewashington2.blogspot.com/2008/05/neocons-admit-that-war-on-terror-was.html

[4] no one could challenge their actions in court: http://georgewashington2.blogspot.com/2008/09/we-have-days-to-stop-700-billion.html

[5] Bernanke Admits Bailout is NOT Aimed at Helping Taxpayers: http://www.prisonplanet.com/bernanke-admits-bailout-is-not-aimed-at-helping-taxpayers.html

[6] US forced banks to take bailout money: http://www.prisonplanet.com/us-forced-banks-to-take-bailout-money.html

[7] Despite Taxpayer Bailout, Fed Says Banks Tighten Loan Standards Most on Record: http://www.prisonplanet.com/despite-taxpayer-bailout-fed-says-banks-tighten-loan-standards-most-on-record.html

[8] Bank Borrowing From Fed Already Exceeded Bailout Total in Last Week: http://www.prisonplanet.com/bank-borrowing-from-fed-already-exceeded-bailout-total-in-last-week.html

[9] Federal Reserve Loses $2.4 Billion In Taxpayer Money In Most Recent QE2 POMO Interval: http://www.prisonplanet.com/federal-reserve-loses-2-4-billion-in-taxpayer-money-in-most-recent-qe2-pomo-interval.html

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