Comrades, we are faced with a situation whereby the government, now more Socialist than ever, flat out refuses to listen to the will of the people; despite the fact that their constituents oppose their bankster “rescue” plan 9 to 1.

I watched, disgusted, as so-many representatives spoke on the floor of the house.  Most of them only concerned with the pork and incentives for idiots (like increasing FDIC insurance), who won’t understand that they are really being screwed and that the FDIC insurance is going to be worthless at any level if the fiat money system collapses.

Imagine that, trying to buy a few votes, versus the future of our nation.  The incredulity of these so-called “representatives” is beyond reproach and I am quite certain that their actions will be are sorely regretted legacy, just months from now when “bailout” Barney’s farce is realized for what it actually is.

Betrayed by the Bailout: The Death of Democracy

William John Cox | GlobalResearch.ca

On this date, October 3, 2008, the American people were betrayed by those whom they had elected to represent them. The members of Congress who voted for the Wall Street “bailout” violated their oath of office to “support and defend the Constitution” … “that I will bear true faith and allegiance to the same” … “and that I will well and faithfully discharge the duties of the office on which I am about to enter: …”

Without holding any meaningful hearings or public discussions and listening only to those most responsible for the economic disaster, Federal Reserve Board Chairman Ben Bernanke and Treasury Secretary Henry Paulson, Congress abdicated its responsibility to the American people.

Locking out most members from all discussions, the congressional “leadership” emerged from their backrooms with legislation that grants Secretary Paulson the ability to spend at least $700 billion to “take such actions as [he] deems necessary” … ” to promote financial market stability.”

Entrusting tremendous political and financial power (and a ton of borrowed money that taxpayers will have to repay with interest) into Paulson’s sole discretion, members of Congress must have been aware that, prior to his cabinet appointment in 2006, Paulson worked for 32 years at Goldman Sachs, one of the Wall Street firms that stands to benefit greatly from his “actions.” Read the rest of this entry »

Jim Sinclair’s Commentary:

Have you acted to protect yourself? This type of event has only one way to go, from California to Maine.

WaMu, now there is a kettle afraid of the pot. Can you wait 8 weeks to eat?

WaMu wary of IndyMac cashier’s checks

More strange doings tonight surrounding the failure and federal takeover of IndyMac: some rival banks are refusing to honor cashier’s checks written by IndyMac — even though those checks are backed by the federal government.

John Bovenzi, the FDIC official now running IndyMac, tells the Los Angeles Times today he is “deeply troubled by reports that there are financial institutions that are refusing to honor or are placing excessive holds on IndyMac Federal checks.”

On latimes.com tonight: “Sheryl MacPhee, 46, said she liquidated a certificate of deposit at IndyMac’s San Marino branch Tuesday morning after a two-hour wait. She then took the cashier’s check to a Washington Mutual branch in South Pasadena to deposit.

“MacPhee said a WaMu manager told her that under a new corporate policy, the bank was not accepting IndyMac checks. If a customer insisted on depositing the check, it could be eight weeks or more before the full amount would be accessible, she said she was told.”

More: “WaMu spokeswoman Olivia Riley declined to discuss details of the bank’s check policies. ‘We have a check hold policy that takes into consideration a variety of factors,’ she said. ‘WaMu is accepting checks from IndyMac customers; however, depending on the specifics, funds will be subject to an extended hold period.’ Wells Fargo said it too was placing extended holds on many IndyMac checks as a precaution.

“Officials at the Office of Thrift Supervision, WaMu’s chief regulator, are investigating the complaints about the checks, OTS spokesman William Ruberry said.”