Will Healthcare Bill Revive Government Programs

In a tweet from a fellow member on Twitter he sent this: Is it possible that obamacare is really a slick way to make social security solvent again? Thanks to InThe5th on Twitter for giving this tweet for me to look at this idea that healthcare reform may have another motive by the Federal Government and every idea that comes from Washington always seems to have multiple motives.

This started me thinking will healthcare bill H.R. 3200 infuse funds into the ailing Social Security, Medicare and Medicaid programs. In part of this bill it is mentioned that fees will be assessed on all health and accident policies and that these fees should be considered as taxes. Some questions I have is does the accident coverage include our car insurance and will it include life insurance or even medical coverage in a homeowners policy ( I can see the taxes rising in fees now)? Only problem with the fees or taxes is that certain Government programs are exempt except those that are through insurance policies. Now the fees/taxes are to be paid by plan sponsor and the definition of plan sponsor is on page 833 of bill, okay you charge a fee/tax for health or accident insurance and who will ultimately pay for this? Let me make a wild guess the person or persons who have the coverage will pay this fee/tax and everyone who has insurance not under certain Government programs will end up paying.

This quote is from page 834 at the bottom of page:

‘‘CHAPTER 34—TAXES ON CERTAIN

23 INSURANCE POLICIES

‘‘SUBCHAPTER A. POLICIES ISSUED BY FOREIGN INSURERS

‘‘SUBCHAPTER B. INSURED AND SELF-INSURED HEALTH PLANS

Under certain income guidelines or circumstances and not just certain government programs should anyone be exempt from these fees/taxes this is ridiculous that they can even mention and I quote: any program established by Federal law for providing medical care other than through insurance policies. Many people think that without social programs we would all pay fewer taxes and on that point I disagree the government would just find another way to over tax us. And without some social programs many more people in this country would be destitute and before you say it, no I don’t believe people should be able to sit back and get a free ride from someone else. But I also know sometimes people need a helping hand, children need someone to look out for them when their parents don’t, many physically or mentally handicap people did not ask for their situation and even retired individuals who have paid all their lives into Social Security or had entire life savings stolen from them need someone to help them. I know some of you may disagree with me on social programs and all I have to say to that is one of the great things about America is that we can disagree, but still get along and learn things from each other. Okay now you know where I stand on these exemptions not that I believe in this healthcare bill, I just wanted to be clear about certain groups.

Now will Congress, the Senate or other Government employees be paying this fee/tax, (I would think not) why would anyone vote for a tax on themselves if they were in their position. Even the AMA’s new President J. James Rohack would support a nationwide healthcare plan like Government employees have or a private and public and private combined system.

One of the first things that caught my attention was a provision in the Social Security Act Section 1801 (42 U.S.C. 1395) Prohibition against any Federal Interference : Nothing in this title shall be construed to authorize any Federal officer or employee to exercise any supervision or control over the practice of medicine or the manner in which medical services are provided, or over the selection, tenure, or compensation of any officer or employee of any institution, agency, or person providing health services; or to exercise any supervision or control over the administration or operation of any such institution, agency, or person. Now I don’t about you but the wording of this code tells me they cannot enact this healthcare bill with some of the Social Security, Medicare and Medicaid provisions they have included.

The amount of money that will be collected in fees/taxes would in my opinion infuse much needed funds into the ailing Social Security, Medicare and Medicaid Government programs. In this report JCX-31-09 from the Joint Committee on Taxation revenues will increase $583 billion over a ten year period (2010-2019), now keep in mind these are only estimates and I bet the increase in revenue will be much higher. Now to be fair to anyone that will say I have not provided all budget information the Congressional Budget Office (CBO) estimates the Federal Deficit Impact will be $239 billion and not the $1.5 trillion that I continue to hear from many, as stated in a letter to Representative Charles Rangel. This letter mentions and I quote: These estimates reflect effects of interactions between insurance coverage provisions and other Medicare and Medicaid provisions, now I would like to have them explain what these effects are to everyone. It also discusses effects on Social Security revenues that are classified as off-budget in addition to other provisions that would increase revenues or reduce spending in the ten year period. The letter also discusses and I quote: payments of penalties by uninsured individuals, firms that did not provide qualified health insurance and other firms whose employees would receive subsidized coverage. Now who decides who has to pay a penalty (more government red tape), what happens if you your income situation suddenly changes and you become uninsured. Per the bill H.R. 3200 we would increase the number of people that have health insurance, but in the letter from CBO it states that 17 million nonelderly residents will still be uninsured and nearly half will be unauthorized (illegal) immigrants. Do you think that all the immigrants will pay a penalty, but I bet all the 8.5 million legal residents will be forced to pay this penalty? Also the high income individuals over $350,000 would pay a percent based on income to add to these federal revenues.

Let me clear up one of the things I have heard over and over about the greedy insurance companies trying to block this bill and using right wing extremists groups at town hall meetings. First why would any insurance company not like this bill when an estimated 37 million people will get insured and more than likely still be serviced by these same companies? Not sure if most people understand some people on Medicare and Medicaid are insured through private insurance companies and not through a government entity directly. Also considering insurance companies are always betting that most people will use fewer dollars on healthcare than they have had to pay in for premiums. And add the added bonus if you drop your coverage they may be required to contact the government and report you (did not find this in the bill but I bet it will be added if not already there). On page 72 of the bill it mentions a Health Insurance Exchange for individuals and employers to a variety of choices of insurance coverage from QHBP offering entities (Insurance Companies). The insurance companies may not get every person in that 37 million but even 50% would add quit a bit of income to their bottom line. Add in the government bureaucracy and red tape in the denial of claims along with their own, many people may be stuck paying some medical bills on their own.

I cannot say I have read the entire bill and will more than likely not ever read it completely, but from what I have it looks like the possibility of a large amount of unexpected federal revenue. Also the many different areas they will likely explore in the future for more revenue will increase every citizens taxes, even lower income people will pay for the added cost in the many products they buy. One of the lessons everyone should have learned when gas prices spiked is that the extra cost to a company will be passed along to the consumer. And I don’t care what your income level we will all pay the extra cost for healthcare on the products we buy.

Thank You,

Average Citizen

Peak Oil Truth or Lies

First let me say I cannot see the future and if peak oil will become a reality, but I also realize most things are dependant on energy and most of the world’s energy comes from oil. Many products contain oil or a byproduct of oil and without them it would change the world as we see it. Even food is connected to oil or some other form of energy and would have to be grown and produced locally to avert higher costs associated with production or transportation; even countries like Britain are looking at ways to protect their food supply. From what I have read, heard and watched there are many people on both sides of the peak oil controversy. I still would like you to decide for yourselves if peak oil is a reality for yourself or just a myth pushed by tree huggers who want to get people to cut down on the pollution on the planet especially CO2 emissions, even though most of them are planning ahead for the future beyond peak oil. Or you may think rich oil companies are the ones behind it to push up the price per barrel of oil to add to their wallet, but from a stockholders point of view would you invest in a company that has no future to make money for you.

Now that we have looked at both sides and some of the advantages and disadvantages of both sides in this controversy, the real people that matter on this subject are the lawmakers who decide what peak oil means to them or even if they care about peak oil. In my opinion they have done very little to react incase peak oil is real until now bill H.R. 2454 American Clean Energy and Security Act of 2009 passed in the house on June 26, 2009. This bill not only concerns pollution, clean energy and many other areas, but will raise the cost of energy to a point that people will be very concerned about what that energy will cost them and will make them use less energy or drive their car less frequently. This will affect people of middle and poorer classes greatly while the upper classes will be able to move to another country or just stay here because they can afford to. Now if you were a politician would you want to tell America that you have known about peak oil for 40 years and have done little to prepare the country for the effects of peak oil and what it will do to the economy, or would you try to pass a bill that will have the same effect to reduce oil consumption and increase taxes on energy or wealth for the select few.

As I have researched in my other blogs on peak oil, many states, cities, counties and towns have been preparing for peak oil, the same way they would for a tornado, hurricane or other disaster. So as you can see some are preparing just in case and are watching the peak oil outcome, but what has the United States government done for 40 years to prepare the citizens of this country just in case peak oil is a reality? Very little in my point of view other than to add to the wealth of politicians and companies that contribute to their campaigns, even the cap & trade bill will help to add more wealth to these same people and take from the wallet of the average person. Consider this also when you look at peak oil, in the past has the United States government always told American citizens the truth even though the real story they were covering up was insignificant in the grand scheme of things just to protect their own reputations. Now a true politician who loves the country they live in would prepare the citizens with the truth and not only tell them what they want to hear so they can be assured of reelection in there next campaign even if it means they will lose.

Thank You,

Average Citizen

Peak Oil or Cap & Trade and Security of United States

You may be asking yourself what peak oil has to do with cap and trade bills and the security of the United States. As we all know the military uses large amounts of fossil fuels to operate all the vehicles they have at their disposal and other branches of government also use fossil fuels for the protection of the United States. The bill H.R. 2454 American Clean Energy and Security Act of 2009 mentions security in its title and many times in this bill, but addresses very little of what the implications of energy independence are to United States security. Even the security of the economy depends somewhat on fossil fuels to some extent in relation to the rest of the world and the different economies around us.

If fossil fuels were to become very expensive to United States companies, would they continue to purchase crude oil from other countries or would they be able to bid on contracts with foreign nations against government run oil companies. Would they keep United States interest before the interest of their companies own bottom line, for example China’s National Petroleum Corporation has contracts with Iraq in joint bid with BP. Will this contract bring oil into the United States or to China and will any oil that is shipped to U.S. from this contract bring more profit to China? I mention China for the reason they are in a better economical position than the United States and also can out bid other private interests on contracts for the reason they are government run and backed. They can look at the price and may not bid, but if they really want the oil they may out bid others just to control the oil in a region.

Many other countries are selling their oil to countries besides the United States, like Iran to Pakistan and India, Japan and China or Russia and China. In fact China seems to be obtaining contracts within many nations including Mexico, Venezuela, Canada, and Cuba for example. One of the things you may want to remember is the United States has not wanted to drill off the gulf coast due to environmental concerns. Will Cuba or China be as concerned about the environment or be held to the same standards as companies drilling in U.S. waters? The price of the drilling in deep water may have been another reason the U.S. has not wanted to drill here and may be influenced by corporate interest. When private companies decide that oil is to expensive to drill for and care little about the security of the U.S., but a nation like China who owns all the oil companies in their country has the security of that nation at a very high interest as well as their own economy. Even the United States government has reports concerning China’s energy security and quest for commodities, which makes me think some people in our government are starting to realize they have allowed the U.S. to be placed in a very dangerous position.

Now back to why I think cap and trade bills has plenty to do with peak oil and very little to do with curbing emissions from Americans. If the H.R. 2454 was to be passed it would have not only create an unfair tax it would also make many start to use less electricity, fuel and other items. This would greatly reduce our dependence on foreign oil and pass along the cost of investing in new energy sources squarely on American consumer’s backs. Between our government and corporate America they have done very little to invest in other energy sources for over 40 years due to the fact that oil has always been cheap. Now that oil will become more expensive in the future many U.S. companies are turning away from oil and looking at alternative sources. Profit to these companies I am sure is playing a major role in these decisions to turn away from foreign oil and to other sources.

Many people think that peak oil is a ploy by the oil and energy industry to raise the price of fuel and energy costs, but keep this in mind these same industries support cap and trade bills. If you have been listening to what is going on around us you will understand that the representatives in Washington are controlled by corporations. Now if cap and trade bills would greatly affect the sales of fuel and energy shouldn’t they be against these bills and not for them. This is more of a reason I think that peak oil (oil will be more expensive in future version and no I don’t think we will suddenly run out as many people misrepresent the definition of peak oil as) is more of a reality than the U.S. government is revealing to we the people.

Here is more information why I think peak oil has more to do with cap and trade bills than emissions reductions. Production of oil in the U.S. has been dropping since 1971 as figures show on this Department of Energy website. Stripper wells or marginal wells are about 85% of the total number of U.S. oil wells and produce 915,000 barrels of oil per day, as they produce less oil the cost to retrieve more oil from that well is not economically viable and the well is abandoned. From 1994 to 2006, approximately 177,000 marginal wells were plugged and abandoned, representing a number equal to 42 percent of all U.S. operating wells in 2006. They do have projects to save stripper wells but only if they are not already abandoned and the surface infrastructure is not removed due to the expensive cost of replacing it. Other countries like China and India have growing economies and populations, both of them will have a severe impact on the price and consumption of foreign oil. Also if you look at where they are geographically located they are nearer to most of the world’s major oil supplies and have direct overland connections to this oil, these facts alone will mean they can purchase oil cheaper than the United States.

Neither China nor India and many other countries have plans to curb the emissions from industries or citizens within their borders and U.S. industries will look to move to places like this to avoid cap and trade limits. Now if our representatives know this will cause jobs to move to other countries why would they enact this cap and trade bill? When average citizens of the United States care more about the economical damage that cap and trade will do than the Congress, the Senate or even the President there has to be another motive. Only history can or will decide where peak oil relates to all the current and future events happening in our society.

Thank You,

Average Citizen

Peak Oil and Global Warming Fact or Fiction

With the recent news about Cap and Trade bills, energy problems, and global warming I have not heard any mention of what is happening with the world in relation to peak oil and what the changes in energy consumption are related to peak oil. First most people have never heard of the term peak oil or even know what it means; I will try to clarify what the meaning is of this term and how it relates to the world as we know it.

Peak Oil is the term given to the global oil production and the top it will reach of oil production (plateau) then start to decline to the downward production on the other side of the peak, it does not mean we are running out of oil only it means that the end of cheap oil production is getting nearer. Other forms of oil production such as oil sands (also known as tar sands), oil shale and offshore drilling are more expensive and each has environmental concerns to take into account.

Even Representative Roscoe Bartlett has stated that deep water drilling is expensive and oil would have to be $211 a barrel to be profitable. From January 17-18, 2007 Congressional Record Report Quote :

By the way, the world's experts on oil believe that we have, most of them, we have probably found about 95 percent of all the oil that we will ever find. You notice that when we find oil now, we find it in very difficult places to get to. The last big find was in the Gulf of Mexico, through 7,000 feet of water, and then about 30,000 feet of rock and dirt until you get down to the oil. We aren't now developing that field, and I am told, you can be told a lot of things that aren't true and I don't know the veracity of this, but I am told we will be developing that field when oil reaches $211 a barrel, because that is what it will cost to get the oil out of that field..

With prices of barrels of oil on the rise the severe economic and social problems that will be faced in the future really needs to be addressed by the general public and not only by politicians. Yes I know the price of oil has went down from what it was last year, my opinion on that is if you drastically raise the price of oil people will consume less and like in the 70’s or 80’s this has been shown as a good way to lessen the consumption of oil and if you change the amount of consumption you extend this date when oil will peak.

When will this peak happen there have been many different dates given for the global oil production peak? In 1956 a geologist named Marion King Hubbert had predicted the peak for the United States lower 48 states to be 1970 and many geologist, physicists, bankers, investors, and members of congress believe he was right about the peak in 1970 and we will have a global peak in the future. They all disagree on when this day will come even some like Hubbert predicted that we have already hit that peak, but many factors affect peak oil like consumption, technology and even politics.

You may ask do politicians have plans or are making plans surrounding this issue and yes congress, states, cities and towns are doing just that. There is a very long list of sites so I will not list them all, but here is the peak oil link where they can be found. You should also check with your state and local representatives to see if they have addressed the peak oil situation. You may also check to see if they have an extensive bike route plan or increased mass transit extension (Atlanta to Macon) in the works as I have found in my area (the bike plan also ties in with other counties).

House of Representatives December 2005
House of Representatives March 2006
House of Representatives May 2006
House of Representatives January 2007
House of Representatives March 2007
House of Representatives June 2007
State of Connecticut November 2007
City of Lawrence Kansas September 2008
City of Bloomington Indiana December 2007
City of Portland Oregon January 2007
City of Fort Collins Colorado 2009
Town of Chapel Hill North Carolina October 2008
Town of Westerly Rhode Island August 2008

Is peak oil going to end the world, in a word “NO” but it will change the world as we know it unless more steps are taken to develop cheaper alternative sources of energy. Why did we not develop more cheap efficient sources sooner, the word greed comes to mind all other sources have been underfunded by the government and corporations for years. The powers that be have begun to wake up to the fact that they have failed humanity for their own greed and who are they asking to make up for all the years of doing this why me, you and all taxpayers with the cap and trade bills to pass an unfair tax to consumers thru energy purchases or emissions taxes. Even President Obama agrees this cost will be passed along to consumers for the changes in our economy for the sake of global (peak oil) warming. On global warming I disagree with many people on this issue because I have heard more about this and nothing in the news about peak oil. Now do not misunderstand I believe we all should protect the planet for our children and grandchildren in the future. The global warming and peak oil references are to just too close to be ignored, quoted from President Obama the proposal would save 1.8 million barrels of oil over the lifetime of the vehicles sold in the next 5 years. All the programs being put in place or on the drawing board will not only reduce global warming, but will also extend the peak oil date.

The US has also commissioned several reports about peak oil US Department of Energy Hirsh Report and United States Government Accountability Office 07-283, now if this did not exist why would we have all this information and meetings taking place about a theory. Before you raise the question, yes they have done reports on global warming and have well published the results of those reports in news media and other sources. I doubt any person in the United States could go thru an entire day without hearing or reading something to do with global warming. The same cannot be said for peak oil “WHY” if this is not an important subject why spend money on reports and waste time meeting about a theory.

In closing friends the public needs to learn more about peak oil and the implications of what is happening in the economy due to this occurring. We all will pay for the greed that has allowed money to be placed at a higher value than human life; the pain and suffering that has been felt in the past and will be felt in the future for the sake of greed needs to be stopped.

Thank You,
Average Citizen

Millions Being Stolen By Banks Legally

This in my opinion this is the greatest crime in history, the person or persons that planned and orchestrated this should be jailed even though this was done legally. Hopefully all people will realize that the government is no longer on our side and needs to be stopped in giving away taxpayers money.

The following information is public information on many government websites also have included many news articles and they can be accessed by everyone, in the following document I will try to explain how they have done this. Bill S2856 (section 1) was passed to begin paying interest from the Federal Reserve on reserves (bank balances held in the Federal Reserve) this also includes foreign banks, the original effective date was to start on October 1, 2011. The date of bill S2856 was changed in bill HR1424 (section 2) to take effect on October 1, 2008 along with the Economic Emergency Stabilization Act of 2008 allowing the treasury to spend 700 billion dollars to purchase distressed assets and make capitol injections into banks. In the following months there have been several reports of banks hoarding cash (section 5) why I wonder? Deposits at the Federal Reserve have never been higher (section 7 and 8) even Wikipedia has this information (section 10), but mostly this has been ignored by the main stream media. The current deposits total $955,220,000,000 as of May 20, 2009 (section 8) I am not an accountant and could not imagine the amount of money that is being paid out on this astronomical figure, but the Congressional Budget Office has projected estimates (section 9) keep in mind this estimate is based on the start date of October 1, 2011 on normal deposits of 10 to 20 billion dollars and not October 1, 2008 on figures of 900 billion dollars. Where did the banks in the United States get this large amount of money (bailout funds), why from me, you, your children, your grandchildren and generations to come? Is this the perfect crime only time and the judgment of the population will decide, I only hope many will open their eyes to what is going on around them. I have included relevant articles from news sources and government websites that I have not specified in this article they are for more information on this crime.

Many will think this is an attempt to discredit the government or one of the political parties involved and may even think this was written by some nutcase, but sorry I do not try to do any of these only to inform people of the truth with verifiable information. Take the time check the facts from this document, see for yourself that all I have said is true and has been done legally in front of everyone while we were not paying attention. I have learned a lesson while researching this information to pay attention with what is going on around me and to not only be concerned with my own life.

This is the Federal Legislation website if anyone needs to verify the bills below, click on advanced search to access previous year’s legislation pick year of congress and enter bill or keyword.

http://www.govtrack.us/congress/legislation.xpd

1) Bill S2856 for Federal Reserve to (Section 201) start paying interest on bank reserve and excess reserve deposits (Section 203) starting in October 1, 2011. This bill became law on October 13, 2006

http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=109_cong_bills&docid=f:s2856enr.txt.pdf

2)Bill HR 1424 Economic Emergency Stabilization Act of 2008 (Section 128) date change for Bill S2856 to October 1, 2008, this was tucked neatly into a bill that no one was allowed to read and threatened with marshal law to hurry up and pass.

http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_cong_bills&docid=f:h1424enr.txt.pdf

3) Fed asks for authority article.

http://blogs.wsj.com/economics/2008/05/07/fed-to-seek-authority-to-pay-interest-on-reserves/

4) Fed Paying Interest on Reserves: an Old Idea with a New Urgency

http://blogs.wsj.com/economics/2008/04/29/fed-paying-interest-on-reserves-an-old-idea-with-a-new-urgency/

5) Banks hoarding cash why, maybe large interest payments?

http://businessfinancemag.com/blogpost/what-wrong-tarp-1210

http://www.forbes.com/2009/02/12/ecb-banks-borrowing-markets-econ-0212_libor_12.html

http://www.philly.com/philly/business/Andrews_Banks_hoarding_cash.html

6) From the Federal Reserves own website, why so many changes in the formulas and rates?

http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm

http://www.federalreserve.gov/newsevents/press/monetary/20081006a.htm

http://www.federalreserve.gov/newsevents/press/monetary/20081022a.htm

http://www.federalreserve.gov/newsevents/press/monetary/20081105a.htm

http://www.federalreserve.gov/newsevents/press/monetary/20081216d.htm

7) Federal Reserve Deposits

http://www.forbes.com/2009/02/03/banking-federal-reserve-business-wall-street-0203_loans.html

http://www.rgemonitor.com/financemarkets-monitor/254725/why_exactly_does_the_fed_pay_interest_on_reserves

8) From the Federal Reserves own reports, find the following in the report (remember this figure is in millions of dollars). Also under Release Dates at the top of page on any of these reports you can find past reports.

Current report (this link will change when archived). Depository institutions 955,220
As of May 20, 2009

http://federalreserve.gov/releases/h41/Current/

http://federalreserve.gov/releases/h41/20090507/

9. Consolidated Statement of Condition of All Federal Reserve Banks (continued)Millions of dollars Depository institutions 825,623 Wednesday May 6, 2009

http://federalreserve.gov/releases/h41/20090108/

9. Statement of Condition of Each Federal Reserve Bank, January 7, 2009 (continued)Millions of dollars Depository institutions 846,140 Total

http://federalreserve.gov/releases/h41/20081002/

4. Consolidated Statement of Condition of All Federal Reserve BanksMillions of dollars Depository institutions 179,291 Wednesday Oct 1, 2008

http://federalreserve.gov/releases/h41/20080807/

5. Statement of Condition of Each Federal Reserve Bank, August 6, 2008 (continued)Millions of dollars Depository institutions 10,862 Total

9) Congressional budget office estimates costs in millions to taxpayers, but date change starts in 2008 not 2011 and the estimates are based on normal deposits.

http://www.cbo.gov/doc.cfm?index=7692&type=0

10) http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008
Taken from Wikipedia website.

The Fed announced that it would begin paying such increased interest on both reserve and excess reserve balances on October 6, 2008.[153] Banks immediately increased the amount of their money on deposit with the Fed, up from about $10 billion total at the end of August, 2008, to $880 billion by the end of the second week of January, 2009.[154][155] In comparison, the increase in reserve balances reached only $65 billion after September 11, 2001 before falling back to normal levels within a month.

How much interest is paid on $800,000,000,000??????????

Have found more important information on this and it looks like Senator Chris Dodd knew this would increase the federal deficit, as stated in a letter dated October 1, 2008 from the Congressional Budget Office Director Peter R. Orszag to The Honorable Christopher J. Dodd Chairman Committee on Banking, Housing, and Urban Affairs United States Senate.

http://www.cbo.gov/ftpdocs/98xx/doc9852/hr1424Dodd.htm

Quote from the letter:

Other provisions in Division A would on net increase the budget deficit. For example, the legislation would allow the Federal Reserve to pay interest immediately on certain reserve balances of depository institutions, rather than starting on October 1, 2011, as allowed under current law. CBO estimates that, over the next three years, the provision would reduce the Federal Reserve’s payments of its profits to the Treasury, which are classified as revenue in the federal budget.

Another reason Bill S 2856 from 109th Congress in 2006 needs to be repealed, this is just another way they are allowing corporate America to commit crimes legally. Sadly not a single member of Congress voted against this Bill, the Senate passed it unanimously and the House passed it with 417 yea votes with 15 not voting.

From the Bill:SEC. 720.

ELIMINATION OF CRIMINAL INDICTMENTS AGAINSTRECEIVERSHIPS.(a) INSURED DEPOSITORY INSTITUTIONS.—Section 15(b) of theFederal Deposit Insurance Act (12 U.S.C. 1825(b)) is amended byinserting immediately after paragraph (3) the following:‘‘(4) EXEMPTION FROM CRIMINAL PROSECUTION.—The Corporationshall be exempt from all prosecution by the UnitedStates or any State, county, municipality, or local authorityfor any criminal offense arising under Federal, State, county,municipal, or local law, which was allegedly committed bythe institution, or persons acting on behalf of the institution,prior to the appointment of the Corporation as receiver.’’.(b) INSURED CREDIT UNIONS.—Section 207(b)(2) of the FederalCredit Union Act (12 U.S.C. 1787(b)(2)) is amended by addingat the end the following:‘‘(K) EXEMPTION FROM CRIMINAL PROSECUTION.—TheAdministration shall be exempt from all prosecution bythe United States or any State, county, municipality, orlocal authority for any criminal offense arising under Federal,State, county, municipal, or local law, which wasallegedly committed by a credit union, or persons actingon behalf of a credit union, prior to the appointment ofthe Administration as liquidating agent.’’.

In closing just to let everyone know I am not a reporter and did not write this for financial gain only to inform, the reason I wrote this is last year an internal alarm went off when I heard about the bailout and I knew something was not right about what was happening. I like to think of it as starting a journey to the truth and I hope this is found out by all.

Sincerely,
Average Citizen