THIS BAILOUT BILL IS NOT ABOUT AMERICAN BANKS OR ASSETS; IT IS A SELLOUT TO FOREIGN INVESTORS AND BANKS. THE TRUTH WAS OUTED ON KUDLOW'S 9/30 SHOW BY BRAD SHERMAN (D-CA). UPDATED ON 10/7 TO INCLUDE THE EVENTS SURROUNDING THE PASSAGE OF THE NOW-LAW.

Here's an old video I made months and months ago (January 8th of 08, in fact)..... there are times I hate being right, and this is one of them....

"Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen." - Brad Sherman , D-California.

The Bill says:

(9) TROUBLED ASSETS.—The term ‘‘troubled assets’’ means—

(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability;

and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.

Note carefully - there is no "Made in the USA" requirement, and nothing prohibits a non-US institution from "selling" a security to a US bank, which then immediately resells it to the TARP. Nor is there any provision to prevent Secretary Paulson from defining any other financial asset as "promoting financial market stability", and while he must notify Congress, they cannot block his purchase.

As for the Senators and Reps who voted for this bill - we'll soon have a "Hall of Shame" nametag gallery for you. America will not forget that you intentionally concealed a foreign declaration of economic warfare against the United States.

ALL 435 MEMBERS OF CONGRESS WERE FAXED THIS LETTER (10/2 11:14 AM); NO CONGRESSPERSON HAS AN EXCUSE FOR VOTING FOR THIS BILL GIVEN THAT IT IS DRIVEN BY FOREIGN EXTORTION, NOT MAIN STREET USA.

As the election has passed, this site is now closed.