« Christopher Story FRSA: Michael C. Cottrell's U.S. Financial Reform Proposals More Relevant Than Ever Given Basel-II Compliance Requirements | Main | Zeitgeist on Money: Zeitgeist Addendum »

Highlights and full text of Friday's coup d'etat

If one looks at this bill, even at a glance, then you have to conclude that what went down earlier last week was all staged dog and pony show.

this bill was ready and waiting to go through.

and no other bill was ever going to go through.

but here is the evidence that the bill was never about a bailout (many of the financial institutions have started rejecting it!!) it was about tyranny of government and financial sectors and bolstering of "mental health" programs financially to further assist in the dumbing down of America and minimization of resistance and "blowback" now and in the future.

Do something that Congress didn't do...

READ the bailout bill (or at least browse its 403 pages as I did. Here are interesting tidbits that I found)



First, here is the coup d'etat in so many words...

The Secretary (of the Treasury) is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation, the following:

Designating financial institutions as financial agents of the Federal Government, and such institutions shall perform all such reasonable duties related to this Act as financial agents of the Federal Government as may be required.

SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN. (WTF??? - Garko)



(a) In General.--Paragraph (2) of section 4161(b) is amended by redesignating subparagraph (B) as subparagraph (C) and by inserting after subparagraph (A) the following new subparagraph:



``(B) Exemption for certain wooden arrow shafts.--

Subparagraph (A) shall not apply to any shaft consisting of all natural wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly--



``(i) measures \5/16\ of an inch or less in diameter, and



``(ii) is not suitable for use with a bow described in paragraph (1)(A).''.



(b) Effective Date.--The amendments made by this section shall apply to shafts first sold after the date of enactment of this Act.



SEC. 504. INCOME AVERAGING FOR AMOUNTS RECEIVED IN CONNECTION WITH THE EXXON VALDEZ LITIGATION. (BACK BY POPULAR DEMAND? - GARKO) (a) Income Averaging of Amounts Received From the Exxon Valdez Litigation.--For purposes of section 1301 of the Internal Revenue Code of 1986--



(1) any qualified taxpayer who receives any qualified settlement income in any taxable year shall be treated as engaged in a fishing business (determined without regard to the commercial nature of the business), and



(2) such qualified settlement income shall be treated as income attributable



*******************

SEC. 512. MENTAL HEALTH PARITY. (GOES ON FOR MANY PAGES - WTF DOES MENTAL HEALTH PARITY HAVE TO DO WITH A FINANCIAL BAILOUT BILL? RIGHT! IT DOESN'T HAVE ANYTHING MORE TO DO WITH IT THAN....

ONLINE GAMBLING HAS TO DO WITH A PORT BILL REAL ID HAS TO DO WITH AN IRAQ SPENDING BILL BUT IT GIVES THEM THE OPPORTUNITY TO GET SOMETHING PASSED THAT WOULD NOT HAVE PASSED ON ITS OWN! - GARKO)



(a) Amendments to ERISA.--Section 712 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1185a) is amended--



(1) in subsection (a), by adding at the end the following:



``(3) Financial requirements and treatment limitations.--



``(A) In general.--In the case of a group health plan (or health insurance coverage offered in connection with such a plan) that provides both medical and surgical benefits and mental health or substance use disorder benefits, such plan or coverage shall ensure that--



``(i) the financial requirements applicable to such mental health or substance use disorder benefits are no more restrictive than the predominant financial requirements applied to substantially all medical and surgical benefits covered by the plan (or coverage), and there are no separate cost sharing requirements that are applicable only with respect to mental health or substance use disorder benefits; and



``(ii) the treatment limitations applicable to such mental health or substance use disorder benefits are no more restrictive than the predominant treatment limitations applied to substantially all medical and surgical benefits covered by the plan (or coverage) and there are no separate treatment limitations that are applicable only with respect to mental health or substance use disorder benefits.



"Take it easy...BUT TAKE IT!", THE GARKO FACTOR * DISCOVER THE POWER OF DOING NOTHING AND THE POWER OF SELFISH ACTIONS * "No man's life, liberty, or property is safe while the Congress is in session."

Mark Twain * GARKOISMS "if you believe that the enemy has the power then you are empowering the enemy" "better take ownership of your life or someone else will for sure"



October 6, 2008 in Current Affairs | Permalink

TrackBack

TrackBack URL for this entry:

https://www.typepad.com/services/trackback/6a00d83451d3ac69e201053564f552970c

Listed below are links to weblogs that reference Highlights and full text of Friday's coup d'etat:

Comments

The comments to this entry are closed.