George Bush, asked to comment on this late night news on the financial crisis was quoted as saying, "Where's my teddy?"

Any thoughts?

The compensation limits will be enacted primarily, but not solely, through the tax code by reducing tax deductions for firms that pay executives more than $400,000 a year.

What complete bullshit. This will do very little to stop the CEO's from taking enormous salaries.

More corporate welfare.

No money for health insurance for children, but hundreds of billions for wall street.

What an utter crock of shit.

"But the White House and politicians on Capitol Hill have said the government could earn back much of its money, or even turn a profit."

BWAAAAAAAAAAAAAAAAAAAAAAAAHAHA
HAHA!

no, really - bwah.

"In his public testimony and private remarks, Paulson has repeatedly emphasized the need to spend $700 billion to soothe nervous markets. At that price, the government's upfront investment in the rescue package would be more expensive than the current cost of the Iraq war, which stands at about $650 billion, according to the Congressional Research Service."

well this OUGHT to stop all the bitching about the war, yes?

""The rescue effort we're negotiating is not aimed at Wall Street -- it is aimed at your street," Bush said. "And there is now widespread agreement on the major principles. We must free up the flow of credit to consumers and businesses by reducing the risk posed by troubled assets.""

see my previous #3 statement...strange...

government turn a profit???

bwaaaaaaaaaaaaahahahaha!

sorry, but this is one of the MOST ironicly highlarious events of my lifetime!

Nanc-
What should be done/not done instead?

well this OUGHT to stop all the bitching about the war, yes?
~Nanc

Iraq $583,364,877,230 as of now

By the time the 700 Billion is spent Iraq will probably be the same amount.

Hey does this sound familiar, sort of same church different pew:

"We are dealing with a country that can really finance its own reconstruction, and relatively soon." Wolfowitz, March 28, 2003.

well this OUGHT to stop all the bitching about the war, yes?
~Nanc

As well: 4174

... a millionaire financier haunted by the pressures of dealing with the credit crunch.

I'm reminded of the old Lawyer joke the punch line being a good start.

how many lap dances will this pay for? how many lavish meals? how many dollars out of the 700 billion will be waste or unaccounted for? who dishes out the cash?

i have a bad feeling. i really think they should just give it to the public and say, well, when your money runs out, were all fucked. so go treat yourself!

Pelosi calls the Republicans "unpatriotic" for not attending the meeting. The Republicans said they were not invited. Dodd said the Democrats just forgot to invite them. Only two key Republicans were there in a room full of Democrats. Pelosi also said she was never warned about the pending crisis. No wonder the bail out passed. Pay it and weep.

How is it possible for Pelosi to even function?

Yup it's official. The powers have agreed on how they are going to ass fuck us for 700B USD.

no investigations, no legal action, no indictments

just $700 billion bailed

and people would still vote for a republican

MADNESS!

Whew, I was worried for a minute there that this wasn't going to happen. I just need Nullifidian in here to tell me how great it is that our government is destroying the currency for bankers benefit so I'll be able to sleep tonight.

Time to jump on the gold train. It's going through the roof tomorrow. That's where the crackpots will be making their money.

and people would still vote for any of these fucking assholes

Fixed it for yah TH.

Democrats also made a number of concessions, abandoning demands that bankruptcy judges be empowered to modify home mortgages on primary residences for people in foreclosure. They also agreed not to dedicate a portion of any profits from the bailout program to an affordable housing fund that Republicans claimed would primarily assist social service organizations that support the Democratic Party, the official said.

Oh and can we get Buffalo Bob in here to whine about how this was done for "the little guy"?

Of the $700 billion figure, House Majority Leader Steny Hoyer (D-Md.) said: "Nobody believes that's going to be the final cost."

The best information is always in the last line of the article.

"no investigations, no legal action, no indictments just $700 billion bailed and people would still vote for a republican ... MADNESS!" #16 | Posted by truthhurts

It's Democrats, silly one. You haven't figured it out yet! If it was the Republicans fault there would be hundreds of investigations starting as we speak. If it was Republicans fault the Democrats would be screaming "Bush and Republicans fault". Only 2 Republicans were invited in the bail out meeting with Bush and the Democrats. Democrats never take legal action on corruption in their party. I am surprised they didn't include "Cold Cash" Jefferson in the bail out process.

and people would still vote for any of these fucking assholes

---------------------
At last on the same page with someone in this toilet.

kbm-

RE: "It's Democrats, silly one."

WHICH, OF COURSE EXPLAINS WHY BUSH -WHOM YOU VOTED FOR- AND HIS APPOINTEE, PAULSON, ARE PUSHING THE DEAL.

With Dems in control of the WH and both Houses of Congress, the bankruptcy provisions and other things they wanted in the Bill, but did not want to have to match with an equal number of Repube amendments, will be added later.

If any of the naysayers here have any proof that either they have a better plan, or that this crisis is not as potentially devastating as advertised, I haven't seen it.

I picked up and dropped a Merrill exec this morning who described the bail out as a band aid on a gunshot wound. He's going back to New York to see what he can, in his words, "salvage." Mark my words...Wall Street will be asking for more $$$ in six months. Accountability seems to be in real short supply lately.

It may be that I'm nuts but this bailout will fall on it's ass unless fundamental changes are made to the basic method of operation. Unless the money is available for a lot more banks, this will be a lost cause.

Because of a couple of ruinous wars that we can't afford and a great deal of hopelessly screwed up plicy decisions by this administration,there is little anyone can do to save our economy.

Probably McSame provided a lot of advice based on his S & L scam experience.

Probably McSame provided a lot of advice based on his S & L scam experience.

~NORTHGUY3

McSame, criticized by Congress for having exercised "poor judgment".

WHICH, OF COURSE EXPLAINS WHY BUSH -WHOM YOU VOTED FOR- AND HIS APPOINTEE, PAULSON, ARE PUSHING THE DEAL.

#23 | Posted by BetelG

and the Democrats gave him $350,000,000,000.00!! With more to come!!!

They are all in this together--Good Cop/Bad Cop--And you bought into it.

If any of the naysayers here have any proof that either they have a better plan, or that this crisis is not as potentially devastating as advertised, I haven't seen it.

#24 | Posted by Corky

Actually, Ron Paul's plan is the best.

Democrats also made a number of concessions, abandoning demands that bankruptcy judges be empowered to modify home mortgages on primary residences for people in foreclosure. They also agreed not to dedicate a portion of any profits from the bailout program to an affordable housing fund that Republicans claimed would primarily assist social service organizations that support the Democratic Party, the official said.

Oh and can we get Buffalo Bob in here to whine about how this was done for "the little guy"?

#19 | Posted by IraqiBukkake at 2008-09-28 11:04 AM | Reply

I can understand your confusion, since the article was written in English. The passage you quote states that Dems wanted bankruptcy judges to be able to modify mortgage rates so homeowners could save their homes.

Republicans didn't want bankruptcy judges to be able to modify mortgages so people could save their home.

The Dems also wanted to create a fund from any profits that would go to an affordable housing program so more "little guys" could own their own home.

The republicans opposed this fund saying that it would primarily assist social service organizations that support the dem party.

That republicans don't support social programs and dems do support programs--this outcome is not surprising.

Your quote states that dems conceded (That means "gave up") their attempt to get these things for the "little guy" so that the bail out could become a reality.

Your quote highlights the difference between dems and reps. Reps are all about the corporate bailout, but not the little guy. The dems are for the little guy, but the reps obstruct any help the dems try to give him. Like Universal Health Care--Education--Freedom.

Actually, Ron Paul's plan is the best.

#30 | Posted by Eddie at 2008-09-28 12:18 PM | Reply

If only someone could link to the Ron Paul plan. But that's far beyond the capabilities of mortal man.

I'm sure the deal includes the taxpayers covering Frank, Dodd, Paulson and Pelosi's a$$.

Thanks to a lame congress and senate, this is the weakest our country has ever been.

Here is MY plan: BANKRUPTCY

Your money is FDIC insured so you lose nothing.

Congress = House + Senate.

You forgot the Executive branch of the MONUMENTAL FAIL trifecta.

And the Judicial branch.

You just never know what will google up.

Actually, Ron Paul's plan is the best.

#30 | Posted by Eddie

More deregulation of the market and government is evil bullshit?

Right. That kind of "thinking" is what created this mess.

If only someone could link to the Ron Paul plan. But that's far beyond the capabilities of mortal man.

#32 | Posted by Buffalo_Bob

LOL!!! I thought Boob couldn't say anything dumber....

Go to his web site! LOL

Ron Paul states his plan all over YouTube! Every time he talks... All you need to do is listen!

But you can't do it, because you don't buy into this Constitution thing. you think that being fair to everyone is just... well, too unfair.

Actually, Ron Paul's plan is the best.

#30 | Posted by Eddie

More deregulation of the market and government is evil bullshit?

Right. That kind of "thinking" is what created this mess.

#39 | Posted by Corky

You're not really paying attention to Ron Paul are you. You think he's insignificant because the Republican Party rejected him.

I challenge you to learn about Ron Paul and what he's about.

I'll get you started. In short, Ron Paul is against the Federal Reserve (the World Banking Cartel) and our Protectorate, OPEC. Just understand this simple concept and you'll begin to understand what he's about.

I challenge you to get over yourself. I know more about Randian objectivism than you do, and Paul is a right wing anarchist kook.

Worshipping the free market while condemning any common sense pragmatism about regulation got us into this mess, and Paul is more of the same.

The Bush crime family has just completed robbing our U.S. Treasury blind -- billions on his illegal war in Iraq, a trillion now to bail out his scum friends on Wall Street whom the Republicans help do it with their worshipping of deregulation and free trade run amok..

Bush's legacy -- the destruction of the United States -- as we sat back and let him do it.

Washington Post has an interesting article outlining McFail's disasterous campaign "suspension" and non-involvement in the debate. Apparently John never heard of long distance calls:
"but the campaign was not quite ready to move on this weekend. McCain flew back to Washington early Saturday, canceling an Ohio visit so he could remain part of the bailout negotiations.

But McCain did not go to Capitol Hill, preferring to make calls from his headquarters.

"He can effectively do what he needs to do by phone," Salter said. "He's calling members on both sides, talking to people in the administration, helping out as he can."

Bush's legacy -- the destruction of the United States -- as we sat back and let him do it.

Not me. I've been calling him a moron every chance I've had. Just now are the idiots who voted him a 2nd term starting to pretend like they didn't.

All it took was Osama Bin Laden calling Bush names 3 days before the election too. Kerry was leading 'til then. But, the cowards who shiver at every utterance of Orange Alerts voted for this moron anyway.

Probably the same crowd who are for shooting people in the back.

Paulson has repeatedly emphasized the need to spend $700 billion to soothe nervous markets.

I've got some cheaper ideas...First-shove Paulson into prison for attempted fraud for the rest of his life.

To "calm" the cattle in the market?

Ever hear of tranquilizer darts? Then load 'em up with Prozac. That'll keep 'em calm....

Congress has asked all taxpayers to please bend over.

If I'm forced to bend over for these shit stains-I'm gonna make sure I've got a REALLY bad case of explosive diarrhea....

I challenge you to get over yourself. I know more about Randian objectivism than you do, and Paul is a right wing anarchist kook.

#42 | Posted by Corky

LOL!!! Ok, Corky.

Some advice. Don't respond to something you nothing about. You are making an ass out of yourself.

I guess Thomas Jefferson was a right-wing anarchist too, then.

Nice try, though. You seem smart, but you are just blinded.

Worshipping the free market while condemning any common sense pragmatism about regulation got us into this mess, and Paul is more of the same.

#42 | Posted by Corky

Again! I challenge you to do a little research into it. Just a little, that's all. You'll begin to see it.

Yes, I think the banking industry should be highly regulated and so does Paul. You completely misunderstand.

Just have a little bit of an open mind.

House Republicans won a major victory, convincing negotiators to include a provision that would require the Treasury Department to create a a federal insurance program, funded by the banks, that would guarantee banks and other firms against loss from any troubled asset

Sounds like another big government program to me. I though that was antithetical to Republican / Conservative principles? I guess that it is ok when it meets your needs. After all, your needs are the only ones that matter.

Apparently John never heard of long distance calls:

#44 | Posted by northguy3

I thought McCain helped Alexander Graham Bell in inventing the telephone!

"McCain, come here, I need you (to bend over for me)"

The U.S. Government has always been nothing more than a confidence scam for the merchant class junta. Starting with the slaving owning/gun running/drug dealing/native american genocidal/monkey fucking founding fathers up to today. S.O.P.

Nanc try offering solutions instead of complaints.

Am I wrong or does this seem to suggest that if the govt was to just pay of all of our mortgages and send us the clear titles, it would be cheaper than the $700 Billion bailout?

As stated above, 2007 mortgage debt was $10.5 Trillion (76%) of the $13.8 Trillion total household debt. Estimated in March 2008 that only $587 billion (5.5%) of equity supports the mortgage total, meaning mortgaged houses were leveraged 18 times on average. Keep in mind that this ratio is quoted at a time housing prices were falling dramatically, meaning the supporting equity ratio is also further declining. See also equity in all homes nation-wide fell to the lowest home equity ratio in history even before prices recently started their dramatic plunge.

Zap- Funny you quote Wolfowitz. It's also funny we haven't heard a peep from this Zionist piece of shit. THIS is the man, with the help of another Zionist piece of shit, Richard Perle, that have helped in this country short-term self-destruction. Im just curious to know if there are any Jewish-Americans (oxymoron on American) that support my feelings for these 2 manipulators of American politics? Anyone want to take a stab at that?

The FIX is in.

Democrats also made a number of concessions, abandoning demands that bankruptcy judges be empowered to modify home mortgages on primary residences for people in foreclosure

Fucking cockbiting wretches.

No shame at all.

Too mad to even make a proper comment here.

ARRRRRRRRGGHHH!!!!

Be Well.

/ ** DB ** of EPIC PROPORTIONS!

Too mad to even make a proper comment here.

ARRRRRRRRGGHHH!!!!

Be Well.

/ ** DB ** of EPIC PROPORTIONS!

#57 | Posted by dethspud

I completely agree Spud.

They rushed to get a package together. Nothing good comes from a rush job such as this.

I was counting on Congress to really think this one through and they screwed up!

EDDIE

I was counting on the WH showing this plan to Congress months ago when they drew it up. They sprung this on everyone at the last minute.

"struck an accord to insert the government deeply into the nation's financial markets"

"Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power"

Benito Mussolini

ChrisCalif- And lest we forget, it was the Bush Admin. that had advanced knowledge of the events leading up to 9/11. They were warned by foreign intel. as well as the female agent in the Minny FBI offices. Thank the lord Bush the younger doesn't have any male offspring(demon seed) to run for office (Emperor) one day.

-Don't respond to something you nothing about. You are making an ass out of yourself.

Uh-huh. The self-retorting are alive and well.

Paul's Libertarian financial Darwinism is a form of objectivism. Now, I know those are larger words than you are used to, but there are always The Googles.

-Rush job

I guess we could wait for several more bank failures, no credit, and a 30 trillion dollar run on money market funds, but why?

And I must say, it is bad enough to have to listen to fringe Libertarian looney toons and hypocritical House Republicans whine about something that no one likes, but that has to be done, without also having to listen the usual suspect pants-pissers go on about how didn't get all the things this country needs in this one Bill.

If it's good enough for Obama, it ought to be good enough for you.

So, Shawn is a lefty pants-pisser? Who knew?

If the WH had seen fit to let anyone else know about the looming crisis and their plan Congress wouldn't have been having to scramble to come up with an 11th hour, 59th minutes plan.

The WH had their plan drawn up months ago

If wishes were horses, we could all go riding, eh?

So corky is a stupid asshole... Who cares?

The remark about Obama wasn't to you, mah bitch.

EDDIE

I was counting on the WH showing this plan to Congress months ago when they drew it up. They sprung this on everyone at the last minute.

#59 | Posted by AMERICANUNITY

What's the rush?

hey Canadians- any room left up there?

America died today.

any room left?

~Dynamite Jacket

More room than people, actually.

The more the merrier.

America died today

And Spud was singing
Bye Bye Miss American Pie
Drove my Chevy to the levy
but the levy was dry
Cos them Fat ole Cats
were stealing all the damn pie
Today ...the music died.

Be Well.

god i hate that song.

now all i get to do is play imaginary guitar solos in my head.

-Today ...the music died.

What was your solution?

No credit? More banks down? A 30 trillion dollar run on money markets? Lost jobs, closed businesses?

Obama thought this way the best of bad choices in a bad situation, but I don't see him presiding over the death of America.

Cinch thy girdle.

our Dear Leaders just made it absolutely clear to the world that Banksters rule this country. some of us already knew it in our hearts- but watching helplessly while lawmakers first shit their pants in fear at the pronouncements of Paulson and Bernanke, then make a closed room deal sometime in the middle of the night against the desire of the majority of americans is heartbreaking. this giveaway only kicks the can down the road, putting our children deeper into debt slavery and delaying the meltdown for few days (or weeks if we are lucky). If you have been paying attention, you will have understood that the goal of the bailout is not to help struggling americans, but to protect the ability of banks to lend money. Nobody ever got out of debt by taking out a loan.

There is a part of everyone that delights in the idea of watching it all burn. In this case it is probably the only thing that can save America as it is knows by her citizens. Wall streets grip on out government needs to be broke for this country to survive. no bailout. let them eat cake, i say.

What was your solution?

~Corky.

In a nutshell?

Bubble up instead of trickle down.

Own not loan.

Help those who hurt and fuck rewarding failure.

Be Well.

Cinch thy girdle.

"There's a cold wing blowing they say
It's gonna be a cold, cold one
So brace yerselves my darlings
It won't bring anything much our way
Except more Dustbowl Days."

Sounds like fun.

Tell Obama and the Clinton economic team and the rest of us exactly how that would work, and how you would get it passed and veto-proofed before the inevitable happens?

cold wing = new wind

Be Well.

/Natalie Merchant is a tender Goddess!

Tell Obama and the Clinton economic team and the rest of us exactly how that would work, and how you would get it passed and veto-proofed before the inevitable happens?

Impossible , as you well know, because of the degree of corporate corruption in the system.

This kinda shit doesn't happen overnight and it can't be fixed overnight. The troubles are so deeply rooted they are practically systemic.

That sed?

Refuse to sign and make known yer refusal to sign anything that doesn't address the problem from a bottom up perspective. At least force banks to refinance rather than default on the loans they criminally approved fer a start.

Spud knows yer trying to stave off the worst of the many potential disastrous consequences here but ya really do gotta draw lines in the sand sometime and stick to them.

Spud doesn't want to see a free falling American dollar leading to massive hyper-inflation.

Christ, America would then become somewot akin to Germany pre-WWII.

Only with nukes and an even larger sense of entitlement.

So Do Not Want.

Be Well.

-Refuse to sign

Then the inevitable happens and one loses one's nose to spite one's face.

It isn't an answer. Obama got as much as he could, and knows he can get most of the rest latter.

Have a little faith in your candidate. There was nothing else to do.

And America isn't dying because everyone didn't selfishly get everything they wanted in this one Bill.

The far right and the far left sound more alike each day.

Your quote states that dems conceded (That means "gave up") their attempt to get these things for the "little guy" so that the bail out could become a reality.

Your quote highlights the difference between dems and reps. Reps are all about the corporate bailout, but not the little guy. The dems are for the little guy, but the reps obstruct any help the dems try to give him. Like Universal Health Care--Education--Freedom.

Exactly. With the Sword of Damocles hanging over their stock portfolios, the Dems collapsed and said fuck the little guy along with destroying his currency.

Translation: We all sing the same refrain...The wail of the whiner. "There's nothing we could do!" Wow, stop me if I've heard that one before.

Republicans, as vile as they may be, will stick to their guns and wait it out. Democrats fold like a cheap suit everytime...just like Iraq. Nevermind though Bob, keep them pom poms flailing.

Saying that 'obama got as much as he could' is more or less equivalent to a whore raising the prices of a fuck.

Then the inevitable happens and one loses one's nose to spite one's face.

What is the inevitable? Damaged stock portfolios or rampant inflation as a result of this shitty bill? Which one REALLY affects Main Street? (I love the new tag line that retards sop up like a biscuit to gravy.) You act as though as this is going to stop anything. It won't and we'll be an additional trillion in debt.

What happens when the derivative house of cards comes falling down? J.P. Morgan has 90 trillion in derivatives...you bailing that out too? The floodgates are open and we're fucked.

Have a little faith in your candidate. There was nothing else to do.

Right on cue.

Something you would be expert on, eh?

Bitchin', moanin', and the sky is fallin'... AND no workable solutions?

Typical.

Spud doesn't want to see a free falling American dollar leading to massive hyper-inflation.

Isn't that change you can believe in?

/Natalie Merchant is a tender Goddess!

#79 | Posted by dethspud

I've been off the Natalie Merchant bus every since the misandry demonstrated in that video for Wonder.

Bitchin', moanin', and the sky is fallin'... AND no workable solutions?

Typical.

Until you start addressing the real root of the problem (i.e. The poisonous Federal Reserve) the rest is pointless.

Something you would be expert on, eh?

that was to Shawn of the Dead grey matter.

Trying to save the economy is pointless?

Right. Gotcha. OK.

We'll get the Fed overhauled by fer ya Monday.

Trying to save the economy is pointless?

Right. Gotcha. OK.

We'll get the Fed overhauled by fer ya Monday.

At least we can have the dollar destroyed by Monday morning. See, that's what we call "doing something". Thanks, I feel so much better.

-Thanks, I feel so much better.

Good. That's what we're all about here.

Iraq $583,364,877,230 as of now

By the time the 700 Billion is spent Iraq will probably be the same amount. -- Zap, #9

Don't forget pension and medical care costs. Most estimates I've seen for the total cost of the war range between $1.5 and $5 trillion. (You almost have to laugh about this. What the hell kind of range is that?)

I've been off the Natalie Merchant bus every since the misandry demonstrated in that video for Wonder

~HC

Whaaaa?!?!?!?

"Wonder" is one of the most powerful, beautiful, soulful, special songs and vids of all time.

How can anyone possibly dislike it?

Spud easily puts it in the top 1 percentile of all vids ever created.

Just cos the vid is comprised of 99% women does not by any stretch of the imagination make it anti-male.

The symbolism of the preying mantis bothers you?

Spud always thought it was a reference to prayer itself and not decapitating and eating yer male lover after sex.

"With Love and Patience and with Faith
She'll make her way"

Is that where you fell off the bus?

Cos if so that's a pretty ignorant interpretation.

Yer post was a joke maybe?

Trying to understand.

Be Well.

"But the White House and politicians on Capitol Hill have said the government could earn back much of its money, or even turn a profit."

Murphy and Rightisright will believe it.

It's happened before. Bubba made back 600 million on the Mexican bail out.

Federal Reserve Board Abolition Act (Introduced in House)
HR 2755 IH
110th CONGRESS
1st Session
H. R. 2755
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
June 15, 2007
Mr. PAUL introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Federal Reserve Board Abolition Act'.
SEC. 2. FEDERAL RESERVE BOARD ABOLISHED.
(a) In General- Effective at the end of the 1-year period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System and each Federal reserve bank are hereby abolished.
(b) Repeal of Federal Reserve Act- Effective at the end of the 1-year period beginning on the date of the enactment of this Act, the Federal Reserve Act is hereby repealed.
(c) Disposition of Affairs-
(1) MANAGEMENT DURING DISSOLUTION PERIOD- During the 1-year period referred to in subsection (a), the Chairman of the Board of Governors of the Federal Reserve System
(A) shall, for the sole purpose of winding up the affairs of the Board of Governors of the Federal Reserve System and the Federal reserve banks
(i) manage the employees of the Board and each such bank and provide for the payment of compensation and benefits of any such employee which accrue before the position of such employee is abolished; and
(ii) manage the assets and liabilities of the Board and each such bank until such assets and liabilities are liquidated or assumed by the Secretary of the Treasury in accordance with this subsection; and
(B) may take such other action as may be necessary, subject to the approval of the Secretary of the Treasury, to wind up the affairs of the Board and the Federal reserve banks.

(2) LIQUIDATION OF ASSETS-
(A) IN GENERAL- The Director of the Office of Management and Budget shall liquidate all assets of the Board and the Federal reserve banks in an orderly manner so as to achieve as expeditious a liquidation as may be practical while maximizing the return to the Treasury.
(B) TRANSFER TO TREASURY- After satisfying all claims against the Board and any Federal reserve bank which are accepted by the Director of the Office of Management and Budget and redeeming the stock of such banks, the net proceeds of the liquidation under subparagraph (A) shall be transferred to the Secretary of the Treasury and deposited in the General Fund of the Treasury.
(3) ASSUMPTION OF LIABILITIES- All outstanding liabilities of the Board of Governors of the Federal Reserve System and the Federal reserve banks at the time such entities are abolished, including any liability for retirement and other benefits for former officers and employees of the Board or any such bank in accordance with employee retirement and benefit programs of the Board and any such bank, shall become the liability of the Secretary of the Treasury and shall be paid from amounts deposited in the general fund pursuant to paragraph (2) which are hereby appropriated for such purpose until all such liabilities are satisfied.
(d) Report- At the end of the 18-month period beginning on the date of the enactment of this Act, the Secretary of the Treasury and the Director of the Office of Management and Budget shall submit a joint report to the Congress containing a detailed description of the actions taken to implement this Act and any actions or issues relating to such implementation that remain uncompleted or unresolved as of the date of the report.

"We have a greater moral responsibility to act than those who live in ignorance. Once you become knowledgeable you have an obligation to do something about it."

www.campaignforliberty.com

Blow me corky.

Ah, Shawn is the intellectual type. He'd prolly have more fun with Ride, though.

So the dems voted with Bush. What's new?