I heard on the radio about an item on page 300 of the current bill before the Senate (the Emergency Economic Stabilization Act of 2008)...300 pages! I thought to myself...what sort of "emergency bill" would take that many pages, I wondered? It's not as if they're actually writing the statutes and procedure manuals for implementation. And besides, wasn't the original plan 7 pages?
Turns out it's actually 450 pages...seen 'em with my own eyes. And it's filled with an extraordinary number of things that have little or nothing to do with the crisis at hand. In short, it's the same old bullshit politics as usual, dripping with pork barrel and special interests. Don't believe me? Download your own 450 page copy at http://banking.senate.gov/public/_files/latestversionAYO08C32_xml.pdf, and happy reading.
Of course, I might just be a political naif who doesn't understand just what it takes. I do understand bluff, bullshit and diversion, however...after all, I'm from Las Vegas.
For your titillation, here's just a few tidbits excerpted from the table of contents of just a few titles of just one section of the bill...it goes on and on and on for 451 pages and is stuffed to overflowing with so much extraneous crap that I doubt I will ever be able to read and digest it all...but trust me, someone will...
Title III
- Sec. 308 - Increase on limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands
- Sec. 309 - Extension of economic development credit for American Samoa
- Sec. 310 - Extension of mine rescue team training credit
- Sec. 314 - Indian employment credit
- Sec. 316 - Railroad track maintenance
- Sec. 317 - Seven year cost recovery period for motorsports racing track facility
- Sec. 319 - Extension of work opportunity tax credit for Hurricane Katrina employees
- Sec. 322 - Tax incentives for investment in the District of Columbia
- Sec. 325 - Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds
- Sec. 401 - Permanent authority for undercover operations
- Sec. 402 - Permanent authority for disclosure of information relating to terrorist activities
- Subtitle A - General Provisions
- Sec. 502 - Provisions related to film and television productions
- Sec. 503 - Exemption from excise tax for certain wooden arrows designed for use by children
- Sec. 504 - Income averaging for amounts received in connection with the Exxon Valdez litigation
- Subtitle B - Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Act of 2008
- Sec. 512 - Mental Health parity
- Sec. 512 - Mental Health parity
- Sec. 601 - Secure rural schools and community self-determination program
- Sec. 602 - Transfer to abandoned mine reclamation fund
And remember...this is a teeny-tiny part of the whole!
All my love,
Len
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Comments: 19
I think I've figured this one out -- knowing that the coming collapse will require our young people to hunt squirrels and pigeons for sustenance, our legislators have had the foresight to make their wooden arrows tax exempt.
Thank you, Senators! It's good to know that someone in Washington is looking out for the little people.
I would have rather seen something that addressed the underlying issues--look at things like the mark-to-market rule as well as a full investigation of how we got to this point. The House Republicans had an idea that wasn't as costly and didn't require buying the loans, but the Dems and media treated them like they were holding up some really amazing piece of legislation.
I don't deny that there are problems that need to be addressed, but calling what we're seeing an emergency seems more like getting the public in fear (which does cause a negative impact on the stock market) so the thing will go through. That's just sad to me.
An Important E-Mail. I think it's from Nigeria! (Not!!)
9/26/08
Dear American:
I need to ask you to support an urgent secret business relationship with a
transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has
had crisis that has caused the need for large transfer of funds of 800
billion dollars US. If you would assist me in this transfer, it would be
most profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my
replacement as Ministry of the Treasury in January. As a Senator, you may
know him as the leader of the American banking deregulation movement in the
1990s. This transaction is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds
as quickly as possible. We cannot directly transfer these funds in the
names of our close friends because we are constantly under surveillance. My
family lawyer advised me that I should look for a reliable and trustworthy
person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account
numbers and those of your children and grandchildren to
wallstreetbailout@... so that we may transfer your commission for
this transaction. After I receive that information, I will respond with
detailed information about safeguards that will be used to protect the funds.
Yours Faithfully Minister of Treasury Paulson
http://bettybowers.com/betty4president/