The phone lines have been ringing up on the Hill and people are being noticed.
The latest is that they don't want to jump in and make a mistake (Thank you God!) and both parties are balking at the idea of giving this kind of bail out without any consequences.
Accountability and Oversight are being thrown around a lot among them. So far, we are on the radar.
A bailout is imminent, so is the CEO payoff. The Golden Parachutes will be forthcoming, Congress just needs to find out how much a CEO is worth.
President Bush is going to take his appeal to the American people by giving a speech (they are working out the details as of this morning). He does not want any conditions, he wants the money now and worry about the "little details" later.
A parent I know told me back in June that the White House would create a crisis to keep Bush in office longer.
I am very ignorant in a lot of things and always willing to learn, so I questioned her statement and asked her to explain. She said that if there is a crisis, it does not matter who the next president is because the sitting president will remain in office, like another 9/11 attack, for instance.
A bit of concern and skepticism was my reaction, because "how much worse can things get, really?" and what are the odds of a major crisis? I filed it in the back of my brain and moved on.
Today I found out that there is this thing called "Executive Power 51", which states that if there is a FINANCIAL CRISIS, the sitting president can suspend the current elections and remain in power.
No comment on my part. I am stumped at the moment and need to percolate this info.
I'll add to this post later on in the day, when I find out more of what is happening.
Until then, I wish you PEACE
A friend asked me a few questions and I answered them to the best of my ability. To protect her privacy I will only post my answers.
1. Not in favor because there are no checks and balances.
The guy (Paulson) has 500 million dollars at stake in the stock market and he is the one to get the blank check with no questions asked. There are no provisions to have these banks re-negotiate the bad loans they issued with the homeowners facing foreclosure. They want a complete bail out for all the things they greeedily went after with no consequences or losses on their part. The CEO's want their golden parchutes as well.
2. A financial crisis is a complete meltdown of the economy without the possibility of a recovery. A complete stock market crash.
In a financial crisis, the stock market will shut down for an hour if it losses 20% and for a day if the losses are 30%. The stock market has not creashed or closed. They have been manipulating the crisis. Everyone was horrified at the loss of 500 points and the expected reaction was to pump all that money into Paulton's hands right there and then.
It did not happen and the next day, the stock market recovered all the losses. Cooler heads need to prevail. A complete assessment and distribution of obligations and responsibilites. Furthermore, you don't put the fox in charge of the hen house. An independent entity needs to step in, not those who are going to walk away with billions and put them in their offshore accounts.
3. McCain has not showed up to Washington ONCE since all this started. The Senators and Congressmen have come out publickly to state that he has done nothing to be helpful, nor has he showed up once to get involved, all they have heard is sound bites that have not been helpful in anyway. Furthermore, at 8:30 this morning Obama called McCain to issue a joint statement about having a meeting with Bush. At 2:30 pm McCain called Obama and agreed. Minutes later, he issued an unilateral statement that it was his idea and challenged Obama to follow suit.
McCain makes me sick.
Obama wants to do the debate. McCain wants to get out of it because he is loosing and this is another good distraction. Obama stated that no one can expect a President to handle only one thing and there is no reason to suspend anything. (We all multi-task, Presidents do too)
4. Believe in your heart. Believe in common sense. Demand the truth and the facts and settle for nothing less. You do that with the medical community, you have executive experience and you are one smart person.
I don't accept lies from either side.
I verify and double and triple check everything. This is too important, I have 2 girls that deserve as much effort from their parents as possible to leave them with a better world than the one we have now.