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Author Topic: Emergency Economic Stabilization Act of 2013  (Read 891 times)
SquishySquish
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October 17, 2013, 06:36:54 AM
 #1

An Act

To provide authority for the Bitcoin Community to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting users, to provide individual income tax relief, and for other purposes.

DIVISION A--EMERGENCY ECONOMIC STABILIZATION

TITLE I--TROUBLED ASSETS RELIEF PROGRAM

SEC. 101. PURCHASES OF TROUBLED ASSETS.

(a) Offices; Authority-

    (1) AUTHORITY- The Secretary is authorized to establish the Troubled Asset Relief Program (or ‘TARP’) to purchase, and to make and fund commitments to purchase, troubled assets from any financial institution, on such terms and conditions as are determined by the Secretary, and in accordance with this Act and the policies and procedures developed and published by the Secretary.

    (2) COMMENCEMENT OF PROGRAM- Establishment of the policies and procedures and other similar administrative requirements imposed on the Secretary by this Act are not intended to delay the commencement of the TARP.

    (3) TARP ASSETS- Assets defined as "troubled" include ASICMINER shares, LABCOIN shares, IceDrill shares and btcQuick shares

    (4) FUNDING SOURCE- The bitcoins used for purchasing of the troubled assets will be obtained from a one-time block creating 100,000 BTC.
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October 17, 2013, 07:00:02 AM
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A bailout?! Cheesy

How about we let the market take care of things..
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October 17, 2013, 02:24:45 PM
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Aww the poor tarps have been through so much already...can't they cover piles of firewood and swimming pools in peace?! Please people, think of the tarps.  Cry

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October 17, 2013, 02:50:32 PM
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Cheesy
And this is why Bitcoin is great: idiots won't be bailed out, and won't be able to mis-invest again.

This.
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