The Red Brick Times

  Monday, September 22, 2008

Let the games begin:
"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.

Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.

At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees."

Posted 4:49 AM by whatley (2) comments

       Comments:
  • Do what I did this morning. Call your entire Congressional delegation. Two Senators one Congressman. State very succinctly that Section 8 of Secretary Paulson's little manifesto is a deal killer(Quote:"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.") and that any purchase of anything from any corporate entity will be secured by an equity position the company equal to the investment.

    It only takes a few minutes and its fun. Use the handy links below.

    Contact Pelosi: http://speaker.house.gov/contact/
    Contact Reid: http://reid.senate.gov/contact/index.cfm
    Contact Obama: http://my.barackobama.com/page/s/contact2

    Find Your Senator
    http://www.senate.gov/general/contact_information/senators_cfm.cfm

    Find your Congress Critter
    http://forms.house.gov/wyr/welcome.shtml
    # posted by Blogger A. O. : September 22, 2008 8:24 PM
     
  • If we ask real nice maybe the Iraqis will place a call to their Swiss bankers and help bail our economy out.
    # posted by Blogger whatley : September 24, 2008 5:20 AM
     
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