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US Treasury to add to bailout package?

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Let me just refresh your mind here with a couple things about NESARA.

1. NESARA stands for the National Economic Security and Reformation Act (also just known as the Reformation Act around DC). Don’t get that mixed up with another misnomer of the National Economic Stabilization and Recovery Act (like on Wikipedia) as that’s not correct.
2. When NESARA is announced, we will all be receiving about $10M.
3. In my opinion, Obama is the one who is going to take us to the next level and he is pushing really hard to get his bailout bill passed which he has named “The American Recovery and Reinvestment Act”.

Obviously, if we are all to receive $10M each, a $800B bailout is not going to supply enough money for everyone. There needs to be much more money supplied. How are they going to do that? Well, my understanding is additional “add-ons” to the original bailout bill that Obama is putting through are going to just start surfacing. Bring all these big numbers to the public slowly, right?

Who’s going to do that, you ask?

Well, how about the new Secretary of the US Treasury? (Timothy Geithner)

It looks like Geithner is going to reveal a plan on Monday that would buy up troubled assets from banks and deal more broadly with the credit crunch and the foreclosure crisis. Could this be the part of NESARA where all the loans and mortgages are forgiven?

Maybe!

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Treasury officials to unveil overhauled bailout plan…

From Ed Henry
CNN Sr. White House Correspondent

WASHINGTON (CNN) — The Obama administration is planning a separate financial stability plan that could cost hundreds of billions of dollars on top of the massive stimulus package the Senate is struggling with, two senior administration officials said.

Treasury Secretary Timothy Geithner will unveil an economic recovery plan Monday that would buy up troubled assets from banks and deal more broadly with the credit crunch and foreclosure crisis, according to the officials.

The officials describe the move as a major reform of Treasury’s Troubled Asset Relief Program (TARP), the federal bailout that was created in autumn to try to stabilize the financial system, but has come under withering criticism across the political spectrum.

“It will be an overhaul of the whole program,” one senior official vowed about the package being put together by Geithner and other top economic advisers to President Obama.

Officials said the goals of the new plan will include bringing new transparency and accountability standards to TARP, keeping people in their homes and increasing lending to consumers and small businesses.

Full article HERE.

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