Old Project Avalon Forum (ARCHIVE) - View Single Post - We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab)

Trippin Ninja · 09-25-2008, 07:40 PM

This bailout itself doesn't stop at 700 billion.

Paulson’s draft bailout plans says: “The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.”

As Chris Martenson writes, “This means that $700 billion is NOT the cost of this dangerous legislation, it is only the amount that can be outstanding at any one time. After, say, $100 billion of bad mortgages are disposed of, another $100 billion can be bought. In short, these four little words assure that there is NO LIMIT to the potential size of this bailout. This means that $700 billion is a rolling amount, not a ceiling.”

09-25-2008, 07:40 PM	#25
Trippin Ninja Avalon Senior Member Join Date: Sep 2008 Location: Satellite Beach, FL Posts: 9	Re: We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab) This bailout itself doesn't stop at 700 billion. Paulson’s draft bailout plans says: “The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.” As Chris Martenson writes, “This means that $700 billion is NOT the cost of this dangerous legislation, it is only the amount that can be outstanding at any one time. After, say, $100 billion of bad mortgages are disposed of, another $100 billion can be bought. In short, these four little words assure that there is NO LIMIT to the potential size of this bailout. This means that $700 billion is a rolling amount, not a ceiling.”