What a disgrace

Please note I am Donna Edwards' opponent this November so I might have a bais here.

That said, I did personally call Ms. Edwards' office after her no vote on the bailout and commended her.

I then sat down and sent out a press release commending her vote to the local press.

Then Donna received a call from Oboma, who by the way has his biggest employer contributor on open secrets listed as Goldman Sachs with many other wall street firm listed right after, changes her vote.(Mccain is right up there with Oboma)

Ms. Edwards won the primary because she nailed Al Wynn for voting for the republicans' and bankers' bankruptcy reform bill which now prevents people from writting off credit card debt. Her vote today is far worse for the working class.

Ms. Edwards also called Al Wynn the absentee Congressman. Since the primary we have had 3 scheduled Candidate forums and Donna Edwards has skipped all 3.

Ms. Edwards fought the National Harbor until she beat Al Wynn and then immediately purchased a home in that exclusive neighborhood.

Ms. Edwards believes because she is in a safe seat and is funded with millions by SEIU, George Soros and son, the Rockefeller Family Fund, the Rockefeller Brothers Fund, the Park Foundation, the RJ Reynolds and Lehman Banking Family and is in a "safe" democratic seat that she can turn her back on the voters in her district.

The only reason I entered the race was because when I asked Ms. Edwards to watch the "Money as Debt" video she refused.
I warned Al Wynn and her of the coming banking collapse then and she cared not to even investigate.

If she had watched this video she would have known 1 year ago that the banking system was about to fail.

Donna claims to be the "candidate who listens". These are just another case of empty promises from
a politcian. Had she listened when I begged her too a year ago, she could have spent 4 months in Congress
bring the coming collapse to the attention to the rest of Congress. I dropped off information describing the role of derivatives in the collapse to her office before the first vote she made no mention of them in her alternative No bailout plan. It is interesting to note I gave the same article to T Boone Pickens that day. Mr. Pickens started reading the document on the spot. He truely cared about the problem. I am afraid Ms. Edwards is concerned with enjoying the power of being in office more.

Ms. Edwards is willing to crack the whip for the money masters. Her vote today will enslave us and our children for decades to come.

Please google and watch "money as debt".

Go to my website to find great article on derivatives and how they are the real cause of the banking meltdown.

Within a few short months the bankers have taken over all of wall street, the government controls 75% of the mortgage business (and are giving the management of these markets to two banks one of which is a foreign bank) and the largest insurance company.

In addition to todays $850 giveaway($150B pork/bribes & $700B bankers gift) the US taxpayer has provide financing for $1.7 trillion in newly created private bank money. Throw in the $5.5 trillion of Fannie Mae/Freddy Mac Mortgage liabillity(with some offsetting assets) and thats $7.7 trillion and mounting in new US debt.

What Congress and the rst of the public don't understand is that the real toxic assets are mortgages, they are the mortgage secures that are leveraged 30 to 50 to 1 using the mortgages as 2% to 3% collateral and the $60 trillion dollars of credit default swaps that are in default or soon to be in default.

A default swap is an asset because it generates an income stream and is put on the banks books as some multiple of its yearly income. However, default swaps are also contingent liabilities. Because they are only contigent, they don't have to be put on the banks books as liabilities. Hence, in the true sprite of Enron, banks can cook their books drastically.

One example is JP Morgan. One of the few big banks left standing. JP Morgan has $900B in assets, it also has $90 trillion in derivates.

With this new $700B bailout money Paulson can buy $50 trillion or even $100 trillion dollars in derivative contingent liability for the US taxpayer.

He can then come back and tell Congress and the public that he needs another $5 to $10 trillion in order to keep these default swap, interest rate swaps, etc. From being triggered by a default or an interest rate
move which his friends at the privately owned Federal Reserve would willingly supply.

Now Congress and the American taxpayer would have a bigger gun to our head and be told either give the banks annother $10 trillion dollars or face a $100 trillion dollar debt.

This can only get worse because there are $1.3 quadrillion of derivatives that can be accounted for (no idea have how many more between private parties) and the dollar amount of derivates is growing at a 20% to 30% rate each year.

There only exists $100 trillion in total assets worldwide. Now not all these derivatives will probably trigger and many will expire before triggering. But because the money supply and interest rates are controlled by the world's private central banks, it could easily happen if they so choose to do so.

In liberty,
Peter James
peterjames08.com