Can someone post a brief summaty of what she said. Don't have sound on my PC at work. Thanks.
Quoting: Anonymous Coward 186361
Transcript:
Ms. KAPTUR. Mr. Speaker, here is the latest reality game. Let's play Wall Street Bailout.
Rule one: Rush the decision. Time the game to fall in the week before Congress is set to adjourn and just 6 weeks before an historic election so your opponents will be preoccupied, pressured, distracted, and in a hurry.
Rule two: Disarm the public through fear. Warn that the entire global financial system will collapse and the world will fall into another Great Depression. Control the media enough to ensure that the public will not notice this.
Bailout will indebt them for generations, taking from them trillions of dollars they earned and deserve to keep.
Rule three: Control the playing field and set the rules. Hide from the public and most of the Congress just who is arranging this deal. Communicate with the public through leaks to media insiders. Limit any open congressional hearings. Communicate with Congress via private teleconferencing calls. Heighten political anxiety by contacting each political party separately. Treat Members of Congress condescendingly, telling them that the matter is so complex that they must rely on those few insiders who really do know what's going on.
Rule four: Divert attention and keep people confused. Manage the news cycle so Congress and the public have no time to examine who destroyed the prudent banking system that served America so well for 60 years after the financial meltdown of the 1920s.
Rule five: Always keep in mind the goal is to privatize gains to a few and socialize loss to the many. For 30 years in one financial scandal after another, Wall Street game masters have kept billions of dollars of their gain and shifted their losses to American taxpayers. Once this bailout is in place, the greed game will begin again.
But I have a counter-game. It's called Wall Street Reckoning. Congress shouldn't go home to campaign. It should put America's accounts in order.
To Wall Street insiders, it says ``no'' on behalf of the American people. You have perpetrated the greatest financial crimes ever on this American republic. You think you can get by with it because you are extraordinarily wealthy and the largest contributors to both Presidential and congressional campaigns in both major parties, but you are about to be brought under firm control.
First, America doesn't need to bail you out, it needs to secure the real assets and property, not your paper, that means the homes and properties of hardworking Americans who are about to lose their homes because of your mortgage greed. There should be a new job for regional Federal Reserve Banks. We want no home foreclosed if a serious work-out agreement can be put into place. And if you don't do it, we want a notarized statement by a Federal Reserve official that they tried and failed.
Second, taxpayers should directly gain any equity benefits that may flow from this historic bailout. We want the American people to get first priority in taking ownership of the institutions that want to pass their toxic paper onto the taxpayers.
Third, before any bailouts for Wall Street, America needs major job creation to rebuild our major infrastructure. America needs assets, not paper. We need working assets.
Fourth, the time for real financial regulatory change is now, not next year. A modernized Glass Eagle Act must be put in place. We need to reestablish locally-owned community savings banks across this country and create within the Justice Department a fully funded unit to prosecute every single high-flying thief whose fraud and criminal acts created this debacle and then forced their disgorgement of assets going back 15 years.
Fifth, any refinancing must return a major share of profits to a new Social Security and Medicare lockbox, where the monies can go to pay for a dignified and assured retirement for every American. This Member isn't voting for a penny of it. Those who created and profited from this game of games must be brought to justice. The assets they stole must be returned to the American taxpayers, right down to the tires on their Mercedes.
Mr. Speaker, I ask my colleagues to join me in cosponsoring my bill to create an independent commission to investigate these well-heeled wrongdoers. Real reform now, or nothing.
Anonymous Coward User ID: 503073 9/26/2008 6:38 AM
Re: THE BAILOUT ! ! ! And you thought YOU were already PISSED ! ! !
BRAV O MARCY!!!!!!!!!! And thanks to OP for sharing the link. If there is a way to pass this on please let me know. My computer skills aren't that great but I have a lot of friends that would LOVE to see this and who in turn would send it to their friends! Again Bravo! I wish I had been there to hear this!
Anonymous Coward User ID: 477699 9/26/2008 8:27 AM
Re: THE BAILOUT ! ! ! And you thought YOU were already PISSED ! ! !
BRAV O MARCY!!!!!!!!!! And thanks to OP for sharing the link. If there is a way to pass this on please let me know. My computer skills aren't that great but I have a lot of friends that would LOVE to see this and who in turn would send it to their friends! Again Bravo! I wish I had been there to hear this!
Quoting: childoflight 511098
You can either highlight the transcript that someone posted above, and rightclick on it and select copy (or use control-c). You can then rightclick-paste (or use control v) to paste it in an email.
If you wish to forward the video as well, click on the Youtube video (not on the play button) to go to the youtube site. Copy the URL on top and paste it in the email for your friends to check it out.
Anonymous Coward User ID: 504602 9/26/2008 8:33 AM
Re: THE BAILOUT ! ! ! And you thought YOU were already PISSED ! ! !
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COMMONSENSE - WISH ALL ELECTED OFFICIALS THOUGHT THAT WAY.
If the "free market" and the private banking system do not serve WE THE PEOPLE adequately, WE THE PEOPLE are responsible for changing it.
TO HELL WITH THE IDEOLOGY.
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NATIONALIZE THE BANKING SYSTEM.
Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks... will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs..
The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating. -Thomas Jefferson
History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance. -James Madison
If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations. -Andrew Jackson
The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity. -Abraham Lincoln
Issue of currency should be lodged with the government and be protected from domination by Wall Street. We are opposed to...provisions [which] would place our currency and credit system in private hands. - Theodore Roosevelt
Despite these warnings, Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote: I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men. -Woodrow Wilson
Years later, reflecting on the major banks' control in Washington, President Franklin Roosevelt paid this indirect praise to his distant predecessor President Andrew Jackson, who had "killed" the 2nd Bank of the U.S. (an earlier type of the Federal Reserve System). After Jackson's administration the bankers' influence was gradually restored and increased, culminating in the passage of the Federal Reserve Act of 1913. Roosevelt knew this history.
The real truth of the matter is,as you and I know, that a financial element in the large centers has owned the government ever since the days of Andrew Jackson... -Franklin D. Roosevelt
"You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out. If the American people only understood the rank injustice of our money and banking system, there would be a revolution before morning. If the central bank continues to control our currency, receiving our public monies, & holding thousands of our citizens in dependence, it would be more formidable & dangerous than the naval & military power of the enemy. " - Andrew Jackson
"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers." - Congressman Louis T. McFadden
"We began planning the Revolutionary War in order to issue our own money again" - Benjamin Franklin
“Whoever controls the volume of money in our country is absolute master of all industry and commerce…when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.” - James Garfield, 20th President Of U.S. Assassinated 1881
“Every effort has been made by the Federal Reserve Board to conceal its powers, but the truth is that the Federal Reserve System has usurped the government. It controls everything in congress and it controls all our foreign relations. It makes and breaks governments at will.” - Louis McFadden, Chairman of the House Committee on Banking and Currency
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the government at defiance. The issuing power of money should be taken away from the banks and restored to the people to whom it properly belongs." - Thomas Jefferson
"Some people think the Federal Reserve Banks are the United States government's institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers." - Congressional Record 12595-12603 June 10, 1932
"The eyes of our citizens are not sufficiently open to the true cause of our distress. They ascribe them to everything but their true cause: the banking system... a system which if it could do good in any form is yet so certain of leading to abuse as to be utterly incompatible with the public safety and prosperity." - Thomas Jefferson
"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States." - United States Senator Barry Goldwater
“The financial system has been turned over to the Federal Reserve Board. That board administers a finance system by authority of a purely profiteering group. That system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. This (Federal Reserve) Act establishes the most gigantic trust on Earth. When the president signs this bill, the invisible governments by the monetary power will be legalized. The people may not know it immediately but the day of reckoning is only a few years removed, the worst legislatives crime of the ages perpetrated by this banking bill.” - Charles A. Lindbergh, Representative, MN
"The Federal Reserve is answerable to no one.” - Ronald Reagan
THEN NATIONALIZE HEALTH CARE
THEN NATIONALIZE ENERGY
Some things should not be profit driven, profit taking in some industry hurts many people to the benefit of the few.
We need a new public/private business model not based on funneling money to industry or exploiting the tax payer.
WHEN THERE IS NO LAW ENFORCEMENT FOR WHITE COLLAR CRIMINALS DUE TO GOVERNMENT CO-CONSPIRACY - IT'S TIME TO REMOVE THE MOTIVATING FACTOR - PROFIT.
CALL ME A SOCIALIST - I DON'T CARE - RAW CAPITALISM FAILS THE PEOPLE OVER AND OVER AGAIN.
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