|1. I would have voted against any bailout.|
using tax money to pay for the failure of ventures by businesses encourages
more risky behavior in the future. The long term cost of this moral hazard
will be greater than any short term stability that a bailout MIGHT provide,
as industries will continue to pursue short term gain with long term risk,
and that will be bad for the economy regardless of how government responds
in the future.
|1. My vote for the package was all about Main Street
–jobs, retirement savings, home owners, and small businesses. Our
country is at an economic crossroads and I felt that the ramification of
doing nothing impacts us all. While I recognize that the path toward
economic stability and security for working families will require more
aggressive work, I am confident that a new President and new Congress will
provide the leadership we need to strengthen foreclosure mitigation efforts
to provide direct relief for homeowners, to guarantee Americans'
hard-earned savings, and to create jobs by setting new priorities. This is
only the beginning of our work to stabilize our economy and prepare for our
future—creating jobs, rebuilding our infrastructure and setting
important priorities for health care, energy independence, and prosperity
for working families.|
2. It is impossible to speculate what the
needs of other industries may be in this economy as we move forward. This
decision was less about saving an indusry and more about preserving
savings, retirement accounts, small businesses and jobs. I am prepared to
join with my colleagues to respond to this systemic crises with short- and
longterm solutions in the coming days and months.
It is madness to give $700 billion to the
banking cartel that has destroyed our economy just so they may use this
money to loan it back to us at interest.
Every voter needs to go to
peterjames08.com and watch the "Money as Debt" video to
understand what has happened. Nothing in the bailout bill has fixed the
systematic flaw in the monetary system.
The crash was caused by too
much debt. Issuing more debt to try and fix it is insane.
Lincoln knew what to do. He told the bankers NO and issued interest free
money directly from the US Treasury. We need to issue interest free US
Notes from the Treasury and either spend it on our failing infrastructure
or lend it interest free to the states for infrastructure
Andrew Jackson fought the banks and repealed the charter
of the central bank. He is the only president to have no public debt. We
must abolish the Federal Reserve System. Federal Reserve banks are private
corporations owned by the commercial banks for their benefit not ours.
Jackson called the central bankers a "den of vipers and
2. It is not the federal government's place to
bailout private companies. The number of billionaires has grown from 16 to
over 1,000 in the last 20 years. To have a free market on the way up and
social welfare for these billionaires on the way down is just plain
My opponent, like most Americans and members of Congress
hasn't a clue what a derivative is or how money, credit and
circulation works. I do. I have been studying the monetary system for 35
years. I warned Donna Edwards of the coming collapse over a year ago. She
did not listen then. She is not listening now. She refuses to debate me on
this or any issue.
There are $62 trillion worth of credit default
swaps and over $1.3 quadrillion(that's a thousand trillion) of
derivatives. Derivatives are growing by over 20% per year. The bailout bill
does nothing to stop the growth of debt or derivatives. In fact, all these
bailouts are generating massive increases in debt.
"It is an
old maxim and a very sound one, that he that dances should always pay the
fiddler. Now, sir, in the present case, if any gentlemen, whose money is a
burden to them, choose to lead off a dance, I am decidedly opposed to the
people's money being used to pay the fiddler…" - Abraham
All these bailouts require the taxpayer to go deeper into
debt to allow the rich preferred shareholders and management to continue
siphoning the wealth of our nation.