Alt-Coin Trader

The Mother Of All Bailouts To Come


The big question for Americans who hate bailouts is whether the Senate will follow the House's lead and grant the Federal Reserve the statutory authority to bail out individuals, partnerships or corporations to the tune of $4 trillion.

On Page 506 of the House-passed bill, which is titled the "Wall Street Reform and Consumer Protection Act" is the following language: The amounts made available under this subsection shall not exceed $4,000,000,000,000.

This so-called "reform" and "consumer protection" legislation authorizes a $4 trillion bailout fund for Wall Street. That is more money than President Obama's 2011 budget ($3.8 trillion), the gross domestic product of Germany ($3.7 trillion), and between five and six times the amount of the Troubled Assets Relief Program. A majority of House members actually voted for a bill containing $4 trillion in new bailout authority.

You just can't make this stuff up. It is really in the bill.