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The Hill Just Killed The Market - Stocks, Euro Stumble As Conservatives Push To End IMF Bailout
As rumors and chatter circulate across trading desks, European equity and credit markets are starting to lose their giddiness. European sovereigns are leaking back wider and financials starting to underperform and it is being noted that, as reported by The Hill, that conservatives say they will try to block the IMF from bailing out Italy and Spain. Pointing to the huge bill this could leave at US taxpayer's feet, Republicans are concerned at the secrecy with which Geithner has acted. Sen. Tom Coburn appears to be at the helm of this legislation, noting:
"We're throwing good money after bad down a hole that I think is not a solvable problem. Europe is going to default eventually, so why would you socialize their profligate spending."
Of course, this is beyond obvious, because as we have been saying all along with every reincarnation of the idiotic "IMF to bailout [XXX]" rumor, there always is just one snag. A rather substantial one at that: US congressional approval for expanded IMF bailout capabilities.Specifically, when discussing the latest iteration of the IMF rescue we said: "La Stampa forgot to mention one thing: any changes to the IMF, which currently is massively underfunded and is why the organization was forced to create two new liquidity facilities: a Precautionary and Liquidity Credit line, since it is unable to fund its New Arrangements to Borrow, have to go through US Congress when it comes to expanding funding capacity. Yup, the most dysfunctional, corrupt and criminal thing in the world - the US House of Representatives, where unless everyone is short Italian CDS, this will never pass. In other words: this rumor is dead in the water." And so it is.
From The Hill:
Conservatives craft bill to prevent IMF bailout of crumbling eurozone
Conservatives say they will try to block the International Monetary Fund from bailing out Italy and Spain, which they say could leave U.S. taxpayers with a huge bill.
Republicans on both sides of the Capitol complain that the Obama administration has refused to share details of what Treasury Secretary Timothy Geithner is discussing with European leaders amid reports the IMF could intervene.
Sen. Tom Coburn (R-Okla.) says he is planning legislation directing the U.S. government to veto an expanded role for the fund.
Senate Republican Steering Committee Chairman Jim DeMint (R-S.C.) and Rep. Cathy McMorris Rodgers (Wash.), a member of the House Republican leadership, also have legislation to curb the proposed intervention.
“I’m adamantly against the IMF being involved in this,” Coburn said.
“We’re throwing good money after bad down a hole that I think is not a solvable problem,” he said.
“Europe is going to default eventually, so why would you socialize their profligate spending,” he added.
Coburn estimates the U.S. could be liable for as much as $176 billion if the IMF shores up Italy and Spain and the European Union collapses.
President Obama this week said the U.S. “stands ready to do our part” to help resolve the crisis, and Geithner in October said using U.S. tax dollars through the IMF to shore up Europe’s efforts was appropriate.
DeMint offered an amendment to the defense authorization bill instructing the U.S. executive director of the IMF to use the voice and vote of the United States to oppose funding of the European Financial Stability Facility, the bailout fund that would be used to stabilize countries at risk of default.
“We need some transparency about what’s really going on,” said McMorris Rodgers. “It’s hard to get information. We’re talking about U.S. taxpayer dollars being involved in the European bailout. The administration needs to be honest with the Congress. I believe Congress needs to be involved in making this decision.”
At least this will halt the idiotic rumormill for a day or two.
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not anymore u not...
Bullshit. Did the BRICs suddenly decide to fund the IMF? Everyone else is broke! Link? Evidence? .... crickets.
Besides, why does the IMF have to do anything when talking shit is working so well?
That won't stop them/us from bailing out them/us. And you call yourself a doctor... pfffft!
Does this mean that the IMF has 'disavowed' Europe?
Are we into the Ghost Protocol?
soon, mick
not worse than waiting for santa, i hope
So the IMF (funded mostly by the U.S.) will have to bail out the U.S.? How's that gonna work again?
crash the system, crash it now, the sooner we do, the sooner compensation returns to people who's labor is actually worth a shit. (hint; it won't be paper pushing fucknuts).
About bloody damn time and not enough. Congress controls the budget of the United States and when the Fed pulls this crap it completely and utterly undermines them.
Of course CONgress has been undermined by the Fed plenty of times (QE2 a glaring example), but to bail out Europe is really beyond the pale.
I am surprised we are hearing about this now, we should have heard a rebuke on Wednesday.
Well technically with the deficit being funded by the FED, the FED controls the budget of the US.
The two are happily married. Congress gets to rack up a tab, the FED gets to do whatever it needs to to keep the game going.
pods
News flow has been pretty negative for Euro all day. But pre NON Farms Mr. Market didn't want to move it lower. But now post event, and with ECB next week ( rate cut, more problems with USD funding, lower rate differential), any excuse is good to whack the EURO.
On the tech side, a < 1,4000 close on EUR/USD will give us 2 weekly closes below this level. Mind the Gap:)
Oh, and finally, Love those Republicans:)
In all reality, when the shit hit the fan in the US our friends on the other side of the pond "did not want to import our cancer". Well, leave them to their own devices to deal with their cancer.
Their cancer is our cancer it is in the whole system .
Yes, precisely why the whole system needs to crash. Anyone who knows that their labor has real value should not fear a collapse as compenstaion (in whatever form that may be) will return to folks who are actually worth a shit (hint; it won't be paper-pushing fucknuts).
And to think how much our collective increases in productivity has been stolen over these last 100 or so years is almost unfathomable.
We should all be working 10 hours per week by now. But, growth is needed at all costs, gotta stay ahead of the interest.
Thank God we cannot print oil.
pods
Nothing to see here. The can introduce any bill they want. If they don't have the votes it doesn't mean shit. The printing will go on and our children and their children's children will pay for it.
Children? I dont think so. Try you and i. The term children sounds so distant
"The term children sounds so distant"
And, based on the apparent lack of understanding of reality I'd say that many so-called adults ARE children.
Beautiful. Can they stop the IMF bailing out the banksters and crooked politicians here in Ireland too?
Watch the financials reverse on this story. If the attempt to block is successful, and I suspect it will be, the bank joy joy we are seeing now will disappear.
Eat your own losses, Wall Street. The Greater American Depression NEEDS these excesses to clear via your share prices.
So does Congress have to approve the expanded bailout like Tyler says? Or do they have to block it because it automatically happens like the article implies?
"We're throwing good money after bad down a hole that I think is not a solvable problem. Europe is going to default eventually, so why would you socialize their profligate spending."
Excuse me.........but isn't it ALL bad money?
After your bets have gone bad you just show up the discount window to get more. That's when it's good. Then you promptly double down on the original bad bets. That's when it's bad again. There's a quick instant in which it is good money but you have to have a keen eye.
In case you don't have access to the discount window then you take client money and administer as necessary. Remember, this is called 'co-mingling'.
http://www.youtube.com/watch?v=DCFIAidTeV8
2:35 + 5:35
"Excuse me.........but isn't it ALL bad money?"
Yeah, this clearly highlights the absurdity of it all, doesn't it?
Republicans can't believe how much the Obama admin has manipulated the statistics this week. instead of investigating the 4 sigma beats they needed to put something negative out in the press so they can get into this rally and join the fun.
Republicans hate Obama so much they'll do anything to block this epic recovery we're experiencing!
(sarc tag needed, really?)
Mr. Coburn, Mr. Blankfein is waiting for you with a suitcase full of campaign contribution. Please don't make him wait since he is doing God's work.
Unfortunately this is just chatter - the printing press has become alive like a monster waking up from last 3 months slumber. They have decided the print in unison accross the world. Senate/Congress cannot do much about it as they do not control the Fed. So there is free printing until at least November.
"Senate/Congress cannot do much about it ...."
They could actually nullify the federal reserve act.
There you go, restore ownership of America to it's citizens. How novel. My prediction is the families behind the Fed are far too used to the excessive usury they have been collecting. We would all get WWIII before this is allowed to happen.
"They could actually nullify the federal reserve act. "
I almost got the vaoprs with that thought.
Of course it could not pass, but...
Just getting that out on the table would be a great baby step that would start getting people to to think that the FED might not be necessary for salvation and that it just might be what's standing in the way of it..
Vote in Ron Paul.
Exponential here we come
Easy come, easy go.
Finally - grid lock is good for something!
The Euro pols are going to love this. Perfect scapegoat for them.
Gee Conservatives doing a good thing for once.
sure, now let's see how much pork they exchange their votes for. Lots of talk, still no action.
Some yes, but DeMint and the SC reps have been pretty consistent in holding their ground on debt and spending- they all gave the repub establishment the finger during the debt ceiling kerfuffle in August and certainly didnt hurt themselves with their voters by doing so. The only problem child in SC ranks on national level politicians on the right is Graham, and he is dead meat in '14.
Nah, the opera was written long ago....coordinated good cop bad cop act is all. Now we'll have a little intermission puppet show entertainment with a congressional hearing or 2, to keep the audience distracted.
How dare those Tea Party jackwagons challenge my superior intellect! I will now unleash Tiny Tim and Barry O's faithful Chicago minions (otherwise known as OWS) to camp out on all their doorsteps...
I AM THE BERNANK!
Don't worry. The "China bailout of IMF" rumors are cocked and ready to roll.
Uh oh, how long before voting is made illegal in Amerika?
I've figured for a while now that this past Nov was our last chance... The Machine has a strong hold on our nuts and they ain't gonna let go, come hell or high water.
As soon as it accomplishes anything!
pods
Actually LOP, voting is the true opiate of the masses. It allows everyone to have that faint glimmer of hope that things can be changed.
When that hope dies, so do lots of people.
pods
Helicopter Ben does not answer to Coburn.
"(...) there always is just one snag. A rather substantial one at that: US congressional approval for expanded IMF bailout capabilities."
Invade Iraq, Afganistan, Iran? There is a snag, you see - Congress has to declare war first. Keep people (alleged terrirists) in jail indefinately without trial? A snag: the Constitution prohibits this kind of shit outright. Impossible!
Naive and cute.
We are not cowards.
How idiotic of you to think so.
We're just doing our job.
The bankers pay our salaries, not you. (What we get from you is essentially only to cover up the fact that we don't work for you, we don't represent you.)
So we'll pretend for a few days that we have your best interest in mind.
Then we'll pretend to wash our hands of it on one pretext or another.
Europe will get the money.
It's not your money.
Fools.
IMF will get everything it needs - jus a small smoke screen for Reps to hide behind as legisation gets passed...
I get the feeling that this is politicking - soon enough God's hand will touch Coburn's campaign contribution and Coburn will bless it.
Anyway, I don't really care, since I'm looking to GTFO of this market. Too much associated BS.
True.
This is probably jawboning for constituent purposes.
It is always nice to hear refreshing honesty.
I love the teabaggers more and more each day.
He is faulty in hi thinking, but at least it is for the right reasons.
That Geithner is one Perfect asshole.
Hey watch it pal, that's the author of "Welcome to the Recovery" you're badmouthing.
today on mad money it will be announced that we are now at defcon 1............
"The Hill Just Killed The Market"....how, exactly, does one kill a corpse?
I think it meant they killed the electrode muscle spasm the market corpse experienced the other day....500 CC adrenaline straight to the heart....CLEAR!! Hit him again!
LOL!
Its like when they reloot... they rekill.
......so why would you socialize their profligate spending.
Sounds great coming from a US Senator
So the IMF has to wait on Congress for funding UNLESS the un-elected Fed overrides the process and prints funny money.
But if the Fed doesn't get the money back it still shows up on our tab?
Sounds like a win-win to me....errr...uhhhh....hold on a second.
excellent point!
Eventually all money will come with a self-adhesive backing to facilitate easy application as wallpaper.
What a hoot! An American politician talking about profligate spending.
calm down. the Socialsts/Central Planners still control the Senate and the Administration. we will still pump money rhrough the IMF and Fed into the Euro abyss. http://confoundedinterest.wordpress.com
End Game bitchez! Neocons will fund the wars, but won't fund bailouts. Looks like the PPT and the FEd will come to save the day.
libertarian86.blogspot.com
This article came out at 6 am. The US markets peaked at 10:30 am. Does anyone look at time stamps?
We don't need no stinking time stamps.
After what both parties passed during the night in the senate, it doesn't really matter.
http://www.politico.com/news/stories/1211/69585.html
Toad Hall Overrun, BiCheZ!!!
Bullshit Friday Options Vol Pump...Hmmm should I buy puts for the weekend, so S&P's can be 50 higher early Monday am?
Looking at some of these posts it appears a damned if you do or damned if you don't. I am glad it is being blocked myself. Funding the IMF just puts the tab on my back and it is already about to brreak. Screw what side of the fence they were on this is a good thing in my mind. I am tired of the crap and if the EU will not print why should we print it for them. Enough already.
Have you noticed that Timmy Franz Geithner, member of Kissinger Associates, Inc., founded in 1982, is a New York City-based international consulting firm, founded and run by Henry Kissinger, and Brent Scowcroft. The firm assists its clients in identifying strategic partners and investment opportunities, and advises clients on government relations throughout the world. has not been heard from in many months?
Mr. Geithner is the last remaining member of President Obama’s initial economic team, and has been the most influential. In 2011, the president worked to prevent Mr. Geithner from stepping down, convincing him to remain on through the 2012 election.
http://topics.nytimes.com/top/reference/timestopics/people/g/timothy_f_geithner/index.html
TURKEY TROTS TO WATER GG FROM CINCPAC ACTION COM THIRD FLEET INFO COMINCH CTF SEVENTY-SEVEN X WHERE IS RPT WHERE IS TASK FORCE Tim Geithner RR THE WORLD WONDERS[8
All your IMF bail out money are belong to us.
Odin, Bragi say hello.
A while back I was having a "discussion" here where I asked a poster on how Obama was destroying things (put aside for a moment the question of how you destroy something that is already ruined), I replied that I was far more concerned about the Repubs doing something to initiate a deflationary collapse.... Seems I wasn't far off the mark...
Face it, Obama aint ruining things, he was elected to be Undertaker in Chief.... get over it, if you don't like the embalming job....
reigning in the IMF is a joke, the money is coming out of the Federal Reserve which is operating with the EXPLICIT guarantee of the US taxpayer. that is to say the Bernanke has put US dollars in the ECB. last night Fischer (Dallas Fed Chief) and Kudlow were trying to lie their way around it, Fisher claiming A) that no money was going into the EUROPEAN banks, it was going to the ECB. (no i didn't buy that stolen property officer, but i did agree to take a deposit contingent on his providing proof of ownership...)
and B) that QE3 would not accomplish anything, and therefore was a non starter. keep on lieing boys, its what you do best...
Indeed, this too shall pass, once appropriate "monies" have been hauld over! St Rally is here to stay, January and beyond, will be a different story!
Thanks God, we still can find a few sane people in this world.
Well, looks like the Europeans have copied the US's playbook:
Euro Central Banks May Provide $270B via IMFhttp://www.bloomberg.com/news/2011-12-02/euro-region-s-central-banks-see...
Hm... I'm in need of some money, I think I'm going to head home and write myself a check! This shit is easy! How could we all have been so stupid? </sarc>
Oh, sorry, missed that story-filler word - "MAY."
"I'm in need of some money, I think I MAY head home and write myself a check!"
Stay tuned!
Let's get real. They may pretend to balk at footing the bill for Europe, but they (i.e. we, US citizens) will end up footing the bill in the end. Just like every other 'major' issue, they pretend there are 2 sides, and in the end they 'compromise' on something that in reality is what both sides wanted all along.
the /es has been pumped like a dog in heat all week. look at an hour chart, its ballistic.
now when the bad news hits it will not drop below the resistance set in october, i don't think the real bad news has hit yet.
still i don't think i would hold short over the weekend, it worked so well last weekend and all, (20 pt gap up)
those waskaly wepublicans!
the usa will provide the funding to bailout the banks (europe)...........ANYONE THAT THINKS DIFFERENT IS AN IDIOT.
WHEN THE DUMB FUCK DALLAS FED GOV STATED YESTERDAY THAT THE FED WOULD ABSOLUTELY NOT BAILOUT THRU THE IMF...DUH. hey never have...our treasury funds the IMF.
You know, there are a lot of things Obama has done that have made me steaming mad, but the most horrifying one of all is that he and Geithner have given me no choice but to find myself occasionally in bed with douchebags like Coburn and DeMint. I just got throwup in the back of my mouth as I wrote that.
It's kind of pointless to say "NO" to the IMF, and still let mad dog Bernanke run around the place pissing every hydrant [..e-er-m, providing liquidity).
"Europe is going to default eventually"
Did anyone bother to tell these clowns that there is no such thing as the "country of Europe"? The PIIGS are actually independent countries (within economic boundaries etc.) not "states" of Europe.
Bottom line, if you are going to have fun, you are going to have fun more than once, since these COUNTRIES will go bancrupt one by one! Rinse, repeat! ;)
But no worries, the american sheeple as much as sheeple in Europe will get used to the sound of *bang there went my money!* eventually.
Peace.
For once the tea party cooks with gas
I appreciate the alternative viewpoints and information that ZH provides...but some of you are the biggest cry baby whiners i've ever encountered. It seems you'd rather complain, bitch and moan and rip every little detail than actually provide constructive, positive commentary.
If I had to summarize some of you it would like as follows
"everything sucks, everything is retarded, the world is ending, but i'd rather bitch about it on a forum than do anything about it, i'm so much smarter than everyone"
How can a conservative attempt to block the exact actions we all are so strongly against be anything but a positive? Yet some of you are so intent on portraying everything in a negative light (more than likely in tune with your own self defeating personas) that sometimes I wonder what news or action would you applaud?
The attempt is already defeated, simply because these fuck-head Republicans know it has no chance. Otherwise they would never dare break the failing system faster than it is going to anyway.
It's all for show for re-election purposes. Both the Democrats and the Republicans simply move on an issue when it suits THEIR needs and the needs of the BANKING ELITE WORLDWIDE.
The world runs on the free-flow of money (which is now debt). That money is both drying up and not moving where it still exists. The IMF bailout is simply a heroin fix. These Refucklicans know this. They know that they will be the ones stuck with the blame if this goes through.
Which is precisely the reason they ARE voting on this issue because they know it DOES NOT HAVE A SNOWBALL'S CHANNCE IN HELL OF PASSING.
But it makes GREAT PR for the campaign.
First campaign promise is to separate the Federal Reserve's assets from any US Treasury guarantees. Since cutting them off suddenly is not in anyone's interest I would gradually step down their access to taxpayer dollars. The immediate effect would reprice a portion of the MBS which the Fed is buying. The object here is to keep the Fed from leveraging beyond a certain threshold.
The UST Sec would see this number was met and report to Congress. Second thing is to restore the printing of currency to the Congress. This does not effect the Fed's role in monetizing debt, but it does place limits. No matter how much a President and a Congress want to deficit spend the amount of fractional reserves in the banking system and the leverage of the Fed's balance sheet would provide counter weight.
Congresses role is to protect the value of the currency. To that end all notional money, all investments and all federal debt will be floated against the amount of hard currency in the system. Limits on this ratio would be enforced, and persons wanting to transfer notiional money into real currency would be exchanged at the current rate.
There would be two dollars, the first probably gold backed, because Bernanke is wrong there is more than enough gold to back the physical currency in existence. If a dishonest president and his bankster friends wanted to inflate the stock market for profit and gain eveyrone would be able to see what they are doing, and the act would provide no gain when the stocks were sold for cash. I would always protect the nations currency.
I would put the nations SSN trust fund in 30 year TIP bonds, fire every one at BLS and calculate the CPI in an honest and straight forward method. I would cancel all new appointments to SCOTUS, end all black contracts for DOD, and have the attorney general prosecute corporations as though they were individuals. If you kill someone you go to jail.
If corporations find it easier to operate as public trusts, we can do that too.
I very rarely agree with the GOP, but on this I'm behind them 100%. No more debt. Let the IMF deal with it. And if they are insolvent, then I don't think the American taxpayers should suffer more austerity measures to pay for the IMF/European/Wall Street banker's gambling debts.
Fuck every one of these worthless Republicans. Once their banker overlords school them in what will happen to the world and the U.S. if they do not pony up trillions more in taxpayer funds and in particular what will happen to their cushy Washington jobs and lifewtyles, they will all drop to their knees or bend over on all fours and take that banker dick for all its worth.
I know its going to blow up anyway. Just saying that these fucktard Republicans who blow all this hot air for their base about putting an end to all this madness are so full of shit we could get off oil today and run the fucking country on the methane alone.
The very fact these banker whore Republicans are even daring to speak like this, knowing full well they will blow the system up faster than it would otherwise, is that they know they do not have the votes to overturn this.
Therefore they have the ok from their banker pimps to primp and preen for the ignorant Tea Party base who will vote for them in the end with the saying..."Well...my guy stood up to the bankers and the socialists...we need to send him back for two more years to finish the job!"
Fuck 'em all and fuck the American voters who put these whores up there....time and time again.
A damn fine rant....
You ensure change so that nothing really changes... The Leopard, Visconti movie.
Republican/demo congress is like Italy then.
Simple & Direct - They are NOT bailing out Europe...The Federal Reserve continues its 3+ years of financial system bailout - Why else would the swap lines include the feature of being bi-directional? There were only two other times this swap line feature existed; 1) September 2011 (very short duration), 2) September 2008 - I applaud this action!!!! Technically, we are not assisting the EU - it is merely polarizing capital into the financial sector to offset the toxic assets & derivative exposure that are misrepresented on banks' balance sheets! Go Republicans - Kick Ass & Take Names!!!
Let's see here - Congress wants to get involved in this mess? Well, I'm all for that. First, it's not like anyone in Congress has the intellect to actually understand what is going on, therefore, it is safe to assume that no matter how bad the mess is, a little Congressional intervention is bound to make it worse while increasing the expense to taxpayers. Hell, Congress could probably put Timmy and Ben to shame should it get it's finger on the print button. Yes, more Congressional input, that's what we need here.
Where were these guys when Paulson broke out the checkbook?
Notice how it says," they will try".
The FED does what it damn well pleases.
That they gave out trillions without approval or consultation should have resulted in immediate arrest.
This is "printing money at will" with no controls and if there are any they are ignored.
From my idiot congressman...a response to the Fed / IMF problem.
They are all bought and paid for:
Dear Friend: Thank you for contacting me regarding the use of federal funds to support the International Monetary Fund (IMF). I appreciate your thoughts and comments. The IMF, established in 1944, is an organization of 186 countries, including the United States, that seek to foster global monetary cooperation, facilitate international trade, promote high employment and sustainable economic growth, secure financial stability, and reduce poverty around the world. On April 23, 2010, with its debt increasing to 115% of gross domestic product (GDP), Greece formally requested assistance from the IMF and the European Union (EU) to help stave off a worsening fiscal crisis. In response, the IMF approved a three-year, $40 billion loan to Greece as part of a $145 bailout package engineered by the EU. All IMF members are required to contribute to the Fund, and the United States is largest contributor. As a result, federal funds will be used to bail out Greece’s excessive spending habits. Out-of-control spending has put the United States in our own tenuous economic position. Our national debt surpassed $14 trillion in December 2010, and there is no end in sight. President Barack Obama’s fiscal year (FY) 2011 budget request carries a $3.83 trillion price tag that will lead to a $1.3 trillion deficit in 2011, and $8.5 trillion in additional deficits over the next ten years. With this level of spending, a recent report from the U.S. Department of the Treasury predicted that U.S. debt-to-GDP would rise to 102% by 2015. Despite this fiscal position, upon enactment on June 24, 2009 of H.R. 2346, the Supplemental Appropriations Act of 2009, the United States increased its commitment to the IMF by $108 billion at the request of President Barack Obama. While I support the aims and goals of the IMF to enhance our world market, I believe we should not bail out the irresponsible habits of foreign governments, especially when our own national debt is on an unsustainable trajectory.During consideration of the Senate's version of H.R. 4173, the Restoring American Financial Security Act of 2010, I supported an amendment to restrict the use of federal funds to aid irresponsible foreign countries. Offered by my colleague Senator John Cornyn, Amendment 3986 instructs the United States’ Executive Director of the IMF to take into account a country’s public debt-to-GDP when considering an IMF loan proposal. If the executive director determines that the proposed loan will not be repaid, this amendment obligates the President of the United States to vote to oppose the proposed loan. With my strong support, the Senate adopted Amendment 3986 on May 17, 2010.
A strong world market benefits Texas and the United States. Texas is a major exporter throughout the world, and recent IMF assistance to Mexico and Latin America has helped strengthen our state's economy. However, as the largest contributor to the IMF, we must ensure that our federal funds are used in a responsible manner.
We must also heed the warnings of Greece and get our financial house in order. I am deeply concerned by the consequences that increased spending might have on our economy. I have opposed increased spending because we need to have fiscal sustainability going forward. A tax, borrow, and spend approach will not meet this need. The deficits that our nation has incurred over the past two years have placed an immense burden on our children and grandchildren. You may be certain that I will work to ensure that America's priorities are adequately funded, while providing the fiscal discipline necessary for short- and long-term economic growth. Please know that I will also continue to press for change in the IMF loan system. It is my hope that with greater oversight and limitations on spending, the IMF can become a more positive tool in reducing global economic uncertainty. I appreciate hearing from you. I hope that you will not hesitate to contact me on any issue that is important to you. Sincerely, Kay Bailey Hutchison United States Senator 284 Russell Senate Office Building Washington, DC 20510 202-224-5922 (tel) 202-224-0776 (fax) http://hutchison.senate.gov
TBH, this is just talk. The Republicans will cave. Pols on both sides of the isle always do.
Plus, they are NOT biting the hands that feeds them; those who contribute to the campaigns that do destructive things to our economy KNOW what we KNOW. They are hedged accordingly.
if only, the repubs will bail on us, again and again
,,,ANYONE STAND IN THE WAY OF INTERNATIONAL BANKERS WILL BE EITHER DESTROYED OR ASSASINATED LIKE JFK,,,Democracy is the biggest hypocracy because it completely eliminates Violent Revolution,,,No matter who we elected, politicians all bend over when it comes to International Bankers,,,,
The crown has trillions. They could stop this in a minute. But they want genocide. I say they're fair game.
Got to back up the Mafia and the Vatican........