WASHINGTON—U.S. senators took a major step toward passage of a broad revamp of U.S. financial markets Thursday as Democratic leaders were able to secure support from both sides of the aisle to put a close to debate.
The Senate voted, 60-40, to limit debate on legislation that would change the way mortgages and credit cards are regulated, financial firms interact with regulators and boost the government’s ability to deal with systemwide failures. A handful of Republicans voted with Democrats to invoke what is known in the Senate as “cloture.”
The vote puts a hard cap on the amount of time the Senate has to debate the 1,500-plus page piece of legislation, and clears the way for the Senate to take a final vote on the measure as soon as Thursday evening. Senate Democrats would need to clear a handful of procedural hurdles for that to occur, but leadership was discussing the possibility, according to several congressional aides.
This is the massive hidden problem that no one in the Beltway is talking about; Republicans included:
I am currently reading this bill and wanted to drop an interesting tidbit on you. For those interested in reading the 114 page Manager’s Amendment, go here. I am only a couple hundred pages into this POS but starting on page 60, a new government office is to be established. The “Office Of Financial Research” will be part of the Treasury, and will have a Director appointed by the President and confirmed by the Senate. This office will also have a data collection center to keep track of all financial and nonbank financial institutions so as to be able to report to Congress on companies that ‘threaten’ the economy. It is unclear how big or how many new government employees this office will create, but considering how events are unfolding now with Obamacare, I’m assuming pretty large.
The interesting tidbit pertains to the Financial Research Fund that is to be established and the ability of the Office that is providing Congress with reports to invest monies they aren’t using. Let me know if you think that’s a conflict of interest, and if you would like to know exactly how much money that is?
“Funds obtained by, transferred to, or credited to the Financial Research Fund shall be immediately available to the Office, and shall remain available until expended, to pay the expenses of the Office in carrying out the duties and responsibilities of the Office.”
“Shall not be construed to be Government Funds…”. Whose money is it then?
Harry Reid has a new campaign ad out touting him as “America’s Most Powerful Senator”. I beg to differ considering how much Harry has to chase after the two republican senators from Maine, Olympia Snowe and Susan Collins, to get any of his anti-capitalist legislation passed in the Senate because he can’t keep his own democrats in line. I wonder if Nancy is giving him pointers on arm-twisting and chicago style politics?
Harry, you ain’t all that. Nevada? Are you tired of this third of the Axis of Marxism, (Obama, Pelosi, Reid), threatening our freedom and pocketbooks?
Go here to read “Jay Rockefeller Is Coming For the Internet”.
When we saw that video, we KNEW they were coming for our means of communication. For those of you that are just joining the information age, the scenario goes something likes this, and I am paraphrasing as this is by no means the whole time-line. I know my readers are going to add other important events to the list.
In the 1880’s Andrew Carnegie started talking about putting the British Empire and the American Empire together.
1902 – The Pilgrims Society of Great Britain is formed.
1903 – The Pilgrims Society of the United States is formed.
The American aristocracy starts buying into all forms of business and controlling boards.
1910 – The Jekyll Island consortium of NY Bankers puts together the Federal Reserve Act. (Paul Warburg)
1913 – The Federal Reserve Act is passed and the central banking system is set up.
1919 – The League of Nations covenant is written.
1920 – The League of Nations begins.
1921 – The Council on Foreign Relations is formed by Paul Warburg.
The American aristocracy starts foundations, i.e. Carnegie, Ford, Rockefeller.
1929 – The Great Depression starts.
1945 – The United Nations begins.
The American aristocracy starts funding the campaigns of politicians that want to become the American Aristocracy.
The American aristocracy starts running their sons, and later daughters for public office.
The American aristocracy starts institutes, think tanks, and groups funded by the foundations.
The Community Reinvestment Act is amended to allow groups like ACORN to pressure banks with the help of Congress to give loans to people that could NEVER afford them.
The Housing Bubble is created.
Annette Nazareth created the voluntary program intended to supervise large investment banks including Goldman Sachs, Morgan Stanley and the now-defunct Bear Stearns and Merrill Lynch.
AIG and the New York Banks are allowed to grow to immense proportions.
911 occurs and the campaign against the Constitution and civil liberties begins in earnest; i.e. Homeland Security and the Patriot Act.
The Iraq war starts thereby draining the treasury and demoralizing the country.
The housing bubble collapses.
Americans are instantly impoverished and demoralized.
The usurpers-in-charge are put in the White House and the unconstitutional laws continue.
The White House and Democratic Congress with the help of a few traitorous Republicans are jamming through INSANE monetary bills.
Billions of taxpayer money is funneled through AIG to the aristocracy owned banks here and abroad.
Trillions of dollars go from the Fed to the aristocracy’s banks.
The White House and Democratic Congress are trying to pass laws that would require mandatory service, the food police for home gardens among other food producers, and an end to the term limits for the president.
AND WE NOW HAVE Jay Rockefeller of one of the American Aristocracy calling for S773 and S778 along with Olympia Snowe. Please note that the control of the CyberSecurity Czar falls under the control of the Executive Branch.
A bill to ensure the continued free flow of commerce within the United States and with its global trading partners through secure cyber communications, to provide for the continued development and exploitation of the Internet and intranet communications for such purposes, to provide for the development of a cadre of information technology specialists to improve and maintain effective cybersecurity defenses against disruption, and for other purposes.
A pair of bills introduced in the U.S. Senate would grant the White House sweeping new powers to access private online data, regulate the cybersecurity industry and even shut down Internet traffic during a declared “cyber emergency.”
Senate bills No. 773 and 778, introduced by Sen. Jay Rockefeller, D-W.V., are both part of what’s being called the Cybersecurity Act of 2009, which would create a new Office of the National Cybersecurity Advisor, reportable directly to the president and charged with defending the country from cyber attack.
A working draft of the legislation obtained by an Internet privacy group also spells out plans to grant the Secretary of Commerce access to all privately owned information networks deemed to be critical to the nation’s infrastructure “without regard to any provision of law, regulation, rule or policy restricting such access.”
And here is an interesting tidbit I ran across while researching Preston Bush, the granddaddy to the crazy Bush 2 that gave us the Iraq War and the Patriot Act. No copyright infringement here. It explains how and why the Bush family dynasty was welcomed to the inner circle. I can already see how this is going to end, and it is not going to be pretty. We now know the who; the why and the how is becoming more apparent each day.
So fellow Patriots, how do you feel about losing your money, your land, your food, your guns, your means of communication, and YOUR CONSTITUTION?
UPDATE: 4/6/09: Shtuey sent the link and I uploaded it – send it around bloggers (please).