While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Republican (fascist/socialist) President George W. Bush signs the Paul Wellstone Mental Health and Addiction Equity Act, requiring health insurers to provide equal coverage to both physical and mental maladies.

       NOTE: This will make it even more expensive for those with limited resources to able to purchase affordable health insurance.

       [added 5/30/2021]

       An unlawfully elected senate (within the provisions of the fraudulent 17th amendment) passes the Economic Stabilization Act of 2008 (YEA, 74; NAY, 25) after 150,000,000,000 “dollars” in tax breaks for specials interests were added, increasing the BBB to 451 pages.  The “Billionaire Bailout (and left taxpayers the) Bill was defeated two days previous in the house of representatives.

       NOTES:

  • The act contains many unrelated provisions, one of which redefines electricity as a clean-burning fuel —  in spite of the fact that most electricity is generated from burning fossil fuels.
  • Democratic (socialist/fascist) senator Sherrod C. Brown, of the Federal enclave of Ohio, reported three days previous that he has been receiving 2,000 e-messages and telephone calls a day, that were running 95% opposed to the BBB, but voted “YEA” anyway.

       Postscript: Of the 261 CONgressmembers who voted YEA on the BBB, only five of them were defeated for re-election.  Of the 17 senators who voted YEA on the BBB and ran for re-election, only three were defeated; one of them was Ted Stevens of the Federal enclave of Alaska, who was tainted with accusations of graft and bribery.  This should demonstrate to the states and WE THE PEOPLE that popular election of U.s. senators has not worked, and that the States need to re-assert their prerogative immediately and resume election of their Senators.

[added 5/30/2021]

     The United states Army, Third Division, First Brigade Combat Team (private mercenaries) is redeployed to the joint Northern Command (the military arm of the Department of Homeland Security) to be temporarily renamed as the Consequence Management Response Force, “an on-call Federal response force for natural or manmade emergencies and disasters, including terrorist attacks.”  This is the first time an active duty military unit has been assigned to a support role for civil authorities.

       [added 5/30/2021] Thanks to nance and Freedoms Phoenix for this entry.

       Christopher Cox, Esq., Chairman of the Securities and Exchange Commission issues SEC Release Number 34-58703, extending the ban he placed on “short selling” (the practice of borrowing a stock, selling it, repurchasing it and an anticipated lower price, and returning them to the original owner by a specified time) of 799 listed stocks, be suspended for two weeks.

       NOTES:

  • As an attorney (Officer of the Court) Cox was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].
  • Short selling is of great benefit to investors as it allows them to profit on negative information, which allows profits to be made from negative information.  It is a common practice in many business sectors, and not much different from the farmer who sells a futures contract for what he has not planted yet.  Furthermore, no amount of short selling can depress the price of a stock over the long term, if the corporation’s underlying health is better than the negative appraisal assessed by speculators; in this case speculators trading on false negative assumptions would lose substantially.

       Question: Is Cox embarrassed because short sellers have done a better job at detecting fraud, Questionable accounting, and other management misbehaviors, than his own agency, which failed to catch WorldCom, Enron and Tyco?

       Postscript: As a result of this policy, which was intended to keep stock prices from falling, the decline in stock prices actually accelerated after the ban went into effect.  But not with the ban on short selling in effect, investors were not able to soften the blow by covering some of their losses with short sales.

       [added 5/30/2021] Thanks to Freedom’s Phoenix for this entry.

Subsequent Events:

10/2/2008                   10/3/2008                   10/6/2008                    10/7/2008                   10/11/2008

10/12/2008                 11/17/2008                  1/5/2009                      1/30/2009                  2/4/2009

2/22/2009                   2/27/2009                   3/7/2010

Authority:

“Law of the Jungle”
ccc-2point0.com/preface

References:

“The Misnamed ‘Mental Health Equity Act,'” Orange County (California) Register, 10 March 2008, Local:6.

H.R. 1424[110th]: Emergency Economic Stabilization Act of 2008 (GovTrack.us)
www.govtrack.us/congress/bill.xpd?bill=h110-1424

http://www.sec.gov/rules/other/2008/34-58703.pdf
www.sec.gov/rules/other/2008/34-58703.pdf

Plans for destroying the sovereignty of three nations continue.
www.marketoracle.co.uk/Article4939.html

CBS News Timeline: U.S. Credit Crunch & Financial Failures Follow Subprime Mortgage Crisis
wjz.com/business/credit.crisis.timeline.2.8186/99.html

SEC says extends short sale ban on financial stocks
mobile.reuters.com/mobile/m/FullArticle/CBUS/nbusinessNews_uUSTRE49101E20081002?src=RSS-BUS

CHRONOLOGY: US financial crisis
www.monstersandcritics.com/news/business/news/article_1434735.php/CHRONOLOGY_US_financial_crisis

The Bailout of Abominations by Robert Higgs
www.lewrockwell.com/higgs/higgs89.html

http://tax.cchgroup.com/Legislation/2008-Emergency-Economic-Stabilization-Act.pdf
tax.cchgroup.com/Legislation/2008-Emergency-Economic-Stabilization-Act.pdf

Don’t Sell Short Selling Short – Gary Galles – Mises Institute
mises.org/story/2527

The SEC Short Sells Us Down the River- Art Carden and Robert P. Murphy – Mises Institute
mises.org/story/3139

Banning Short Selling | The Big Picture
www.ritholtz.com/blog/2009/07/banning-short-selling/

Emergency Economic Stabilization Act of 2008 – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008

Economic Outlook 2008: Darkening Clouds – Dominick Armentano – Mises Institute
www.mises.org/story/2805

US Army Brigade Assigned to Homeland Tours – “Helping People at Home” Respond to Natural, Man Made Emergencies-Terrorism | War Is A Crime _org.mht
warisacrime.org/node/36173

Current U.s. National Debt:

$36,167,124,467,492

Source