No BULL...The Real LINE on BAILOUT Bill

As the news media banters about the bailout deal, yesterdays notes and negotiated lobbyist tainted agreements have been put into the hands of Capital Hill lawyers to be put into proper Bill format. In laymans terms...a bad bill is about to get worse, and we are going to get screwed even harder than we think. Let us look at some of what we know about this rancid bailout bill that panders to the rich and elite at the expense of us in the lower and middle class.

• The initial funding would be $250 billion. Another $100 billion would be subject to the president’s request.

Ask yourselves...why even bother putting in that little caveat about $100 Billion being subject to the president's reguest? Is there anyone out there that believes said request won't be forthcoming before the ink on the man's signature is dry? If you do, I have a Bridge to Nowhere I would like to sell you.

• The final $350 billion could be available upon another presidential request but would be subject to a congressional disapproval resolution, which would then be subject to presidential veto.

Pay attention here FOLKS...first, this is a SECOND $350 Billion dollars. Next, the Congress could disapprove of disbursing this funding, but the PRESIDENT COULD VETO IT. Is this what the negotiators call protecting taxpayers? Mark my words, if just for spite, George W. Bush will make sure every penny of this EARMARK for the rich and elite is in the pipeline before he leaves office.

• There would be no time restrictions on the release of the funds, so the total potentially could be paid out over a very short time.

As predicted ABOVE, there is no TIME RESTRICTIONS on this bailout...ask yourselves folks, do you really trust George Bush and Mr. Paulson to spend $770 Billion dollars of our taxes between now and the end of the year?

• There will be a limit on golden parachutes for departing executives of troubled financial firms, but the plan is quite complicated and, “I think that should be left until you have the legal draft,” he said.

Quite complicated? Why? Lets make it STRAIGHT FORWARD, a $400,000 salary cap, end of story! This little caveat is a LOBBYIST DREAM, and one that they will be RICHLY REWARDED FOR. Americans should be burning up the phone lines into Capital Hill.

• There is no bankruptcy modification provision but foreclosure forbearance is part of the deal.

So, Wall Stree FAT CATS get $770 BILLION DOLLARS, and all we as tax payers get is NOTHING...lets explain foreclosure forbearance...you get an extra 30, 60 or 90 days before the GRIME REEPER arrives to throw you out into the street.

Here is the biggest INSULT OF ALL...remember our OWNERSHIP? You know, we bail you out, we get ownership SHARES...not exactly, and we should SCREAM BLOODY MURDER ON THIS ONE.

You see, we don't get SHARES, but instead will be issued WARRANTS! Do you know what a WARRANT IS?

In finance, a warrant is a security that entitles the holder to buy stock of the company that issued it at a specified price, which is usually higher than the stock price at time of issue.

Warrants are frequently attached to bonds or preferred stock as a sweetener, allowing the issuer to pay lower interest rates or dividends. They can be used to enhance the yield of the bond, and make them more attractive to potential buyers. Warrants can also be used in private equity deals. For instance, it was a common practice during the height of the dot-com bubble for a landlord of sought-after commercial real-estate to demand warrants from high-tech startups as part of the lease agreement. Frequently, these warrants are detachable, and can be sold independently of the bond or stock.

Corporations issue warrants to enhance the future value of their stock to the people holding it.

A) Why not STRAIGHT OUT STOCK OWNERSHIP?

B) Who holds these WARRANTS, and how are they going to be exercised, and when? If we are already giving them $770 Billion dollars, why do we have to turn around and spend MORE TAX PAYER MONEY TO BUY STOCK?

THUMBS DOWN ON THIS ONE FOLKS