It's a lie! It's a bald and bearded face lie!

We're being told by 2 millionaires (Bernanke and Paulson) who own hundreds of millions of stock in failing investment institutions, we will certainly be in a recession if one of them doesn't receive 700 billion ASAP.

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday it risks a recession, with higher unemployment and increased home foreclosures, if lawmakers fail to pass the Bush administration's $700 billion plan to bail out the financial industry.

Sen. Richard C. Shelby of Alabama, the panel's senior Republican, was even more blunt. "I have long opposed government bailouts for individuals and corporate America alike," he said. Seated a few feet away from Paulson and Bernanke, he added, "We have been given no credible assurances that this plan will work. We could very well send $700 billion, or a trillion, and not resolve the crisis."

YOU GO REPUBLICAN SENATOR, SHELBY!!

Senator Jon Tester D Montana: stated that every time the congress has been pushed into a spur of the moment decision it has turned out to be a disaster and on that they collectively regret.

YOU GO DEMOCRAT SENATOR, TESTER!!

What a lot of us are not aware of is there is upwards of 1,000 trillion worth of MSB derivatives that are at risk. We don't have enough in the whole world to bail this out. This is shadow banking system, (investment banking) gambling with other people's money. It's been around since before the first depression. Hoover proposed a bail out of the banks . . . it passed and the robber barons made millions but, the banks still failed. We the people lost everything. The Japanese tried it in the '90's and they spent the next ten years trying to dig out from under the horrible economic conditions. Bail outs do not work. The Henry Paulson's of the world devise money making schemes: from: mortgage backed securities (MBS's) to MBS derivatives to selling bundled mortgages several times over. It's like junk bonds. It's all on paper and in the computer their is no real asset. Money out of thin air. There's nothing to back it. Now he can't cover the notes and wants to cover his ass for another 6 weeks. After the election he won't be the secretary of the treasury and when the house of cards tumbles, it won't be on his watch. Oh and by the by, you are aware that the people that will be responsible for investing of the 700 billion are the very same people whose financial expertise created the need for the 700 billion.

ALRIGHT!!! ENOUGH!!!!

I thought the stock exchange had some automatic protection put into effect back in 1987. ( Under the SEC's rules, a drop of 350 points in the Dow would bring a 30-minute halt in NYSE trading. If the Dow declined another 200 points, trading would cease for one hour. No additional circuit breakers would operate that day, but a new set would apply the next trading day.)

Why hasn't this protection been mention in any of this rush to "bail out". These wall street wheeler dealers are trying to scare congress and the American people into making a very bad decision. Just like used car salesman they're telling us that we don't have much time to decide. If we give them the $, the economy is in the tank. If we don't give them the $, the economy is in the tank. We're in a lose lose situation. Let them fail! Let the shadow banking system experience what all those Enron stock holders experienced. Let Paulson and his ilk lie in the beds they made for themselves. Let the wealthy investors who bought into these schemes deal with those who sold worthless pieces of paper, and keep their greedy mitts off of any more of our money.

DaG out