So When Gov. Owns Banks

[Christina]

When the government ends up owning all the banks and now with the AIG buyout the insurance companies do we still have a democracy?

 

[HammerStone]

Monetarily speaking, we've never really had a democracy. The Federal Reserve is only federal in that a few in one location control the whole shebang. Other than that, the federal reserve is really the private reserve.It's a scary thought to think that the same government that mishandles everything else will run these giant organizations. The government is much too powerful, and our poor founders are rolling in their graves at the monster that is now born. It's only going to get worse, really, regardless of who is elected.

 

[Christina]

yeah Im sure you right the whole World is starting to feel it ............................. Wall Street opens on sinking prices, Moscow halts trading, Israeli banks hammeredDEBKAfile Special ReportSeptember 17, 2008, 8:18 PM (GMT+02:00) Trillionaire US insurance company bailed outGoldman Sachs, J.P. Morgan, AIG were hit hard Wednesday even after the White House approved a Federal Reserve $85 bn rescue loan to save the American insurance giant American Insurance Group from bankruptcy. In another key development, Barclays announced a deal to buy core businesses of Lehman Brothers, whose bankruptcy triggered the current avalanche on the world’s financial markets. Russia halted stock and bond trading on Wednesday after less than two hours, preventing further selling on top of Tuesday’s record-breaking falls. The government pledged $60 billion to help local banks.In the City of London and New York, moves are afoot for mergers to bail out the banking system. In Tel Aviv, prices plunged across the board, with the major banks taking an extra beating. The public voted no-confidence in the leading banks (Bank Hapoalim fell 12.5 percent) and the finance minister, Ronnie Bar-On’s assurances that the Israeli economy is insulated from the global crisis. After meeting bank heads Wednesday, Bank of Israel governor Stanley Fischer issued a statement that Israel banks are “relatively well run.”Economic experts foresee an Israeli recession is just around the corner. Lehman Brothers is a major player in Israel’s structured-products market and options market. Personal savings schemes, exports to the United States and Europe and foreign investment are also bound to suffer from the crisis.The Federal Reserve approved the AIG bailout although Tuesday, treasury secretary Henry Paulson said no more taxpayer money would be used to save companies from collapse, out of fear of a global chain reaction which would rebound on Wall Street. Barclays has shelled out an estimated $2-3 billion to buy key Lehman Brothers assets. Some 5,000 of the 30,000 sacked staff received phone calls Tuesday night to get back to work on the double. As foreigners employed on Wall Street, Israelis are second only to Canadians.Thousands have been thrown on the job market. Aside from those recalled by Lehman Brothers after the Barclays buyout, many will return home adding to the pressures on the job market. Israel’s hi-tech industry, second only to the US in annual start-ups, was already facing difficulties before the current crisis, as export orders began drying up. One large company last week gave its entire staff of thousands 6-8 weeks to “make other arrangements.”Questions hanging over the New York-generated crisis now are: Which institutions are next in line for bankruptcy? How much is the Bush government prepared to spend to rescue companies in trouble? Up to its ears in a huge budget deficit over wars in Iraq, Afghanistan and fighting terror, federal intervention in the financial sector may be a shot in the arm in the short run but eventually the American economy will pay a price

 

[Vindicated]

The fed is a provately owned bank, it is not controlled by the federal government.http://www.save-a-patriot.org/files/view/frcourt.htmlthe controlling interests of that money lie in europe. During the early years of our country when the federal bank was established rich folks from europe (britian mainly) invested in the federal bank in order to make money, thus controlling the shares of the bank (as we would see it today, just like stocks in the stock market). all of our money is controlled by those deep pockets.p.s. why did you and denver change your names?

 

[Christina]

So what do you guys think of this New Bail out plan that sent the stock market soaring it reminds me of stories I heard before the "29" crash how can you add all this debt to the taxpayers back on top of the deficit when we have no money to pay what was already owed. PS read explanation on names http://www.christianityboard.com/christian...59206#post59206

 

[Christina]

Suing To Stop the AIG BailoutNot a lot of MainStreamMedia (MSM) attention to this, but here's a little 'sand in the gears' for the PowersThatBe who are anxiously extending federal (e.g. our) tax dollars to bail out the formerly private insurance company AIG:"Federal Lawsuit Filed to Stop AIG Bailout http://www.wethepeoplefoundation.org/PROJE...Sept18-2008.pdfU.S. Lacks Constitutional Authority for Emergency Loan Queensbury, NY -- On the day following the 221st anniversary of the signing of the U.S. Constitution, WTP Chairman and constitutional activist Robert Schulz today filed a federal lawsuit in United States District Court in Albany seeking to halt the execution of the emergency bailout of American International Group, Inc. (AIG) by the United States Government and the Federal Reserve. The lawsuit asserts that the commitment of public funds and credit for the direct benefit of privately owned AIG is an ultra vires action by the United States Government and Federal Reserve, i.e., beyond the limited legal authority granted by the Constitution. The lawsuit asks for a "show cause" hearing demanding that the Government produce evidence of its legal authority to commit public funds for such a purpose, as well as emergency and permanent injunctions halting the bailout transaction. According to available information regarding the transaction, the Federal Reserve will loan AIG $85 billion dollars to stabilize its financial crisis, in effect, using taxpayer money to fund the loan. In consideration of taxpayer financing of the private bailout, the U.S. will receive stock warrants for 79.9% of AIG stock.