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The 'Bailout' Abomination

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Alice in Wall-Street-Land has fallen through George Orwell's Economic looking-glass, and the Mad-Hatter Federal Government is here to throw her a tea party!

The unmitigated and unprecedented prostitution of votes-for-pork this Friday to gain passage of the most economically destructive legislation in the history of American (and probably World) civilization was truly amazing. And equally sickening and destructive to the American and World economy. The Wall Street Banksters ( I call them that because their present goals and tactics are indistinguishable from those of Organized Crime) and their Federal Reserve Consiglieres had their hand-picked White House mouthpiece George W. Bush yell 'Fire' in the economic theater this week, after they had set the economy on fire in the first place! Franklin D. Roosevelt said 'We have nothing to fear but fear itself'. Wise words indeed. G.W. Bush this week all but screamed 'Be AFRAID!!! Be very AFRAID!!!' or words to that effect. A curious way to calm the Markets, don't you think? Or a calculated way to accelerate a self-fulfilling prophecy of economic doom into fruition, so that his financiers, backers and cronies could engineeer a wholesale takeover of the U.S. Economy.

I have to begrudgingly admire this organized crime syndicate though... Their 'BE AFRAID!!! BE VERY AFRAID!!!' act worked beyond their wildest expectations in starting and continuing the socially and eceonomically destructive 'War On Terror', which allowed their Armament, Security and Financial Mafia families to pillage, rape and ruin the American economy, the American Taxpayer and the financial system of the United States for the last few years. All the while fattening thier coffers, consolidating their wealth and acquiring more power. So why not start a 'War On The Economy' by using the very same methods?

This Rescue/Bailout/Protection/Ponzi Scheme that has been foisted on the American Public was rushed through without adequate debate, scrutiny or even the majority of Members of Congress even READING THE BILL! It will do nothing to 'help the economy', let alone rescue anyone or anything other than the very few (and very rich!) financial executives and controlling shareholders who were either stupid enough to allow their companies to fail so miserably, or else avaricious and evil enough to engineer a collapse- knowing their multi-billion-dollar Lobbying Corps on K-Street would wring a few trillion more out of the bled-dry taxpayers by appealing to and adding to the fear of the unsuspecting public. BUt the most heinous part of their tactical assault on the American economy involved appealing to the raw greed and lust for power and access in those legislators who would knowingly sell their mothers into slavery it it furthered their careers or campaign war chests (or chances for re-election).

Let's look at the numbers... 700 Billion dollars (or 800 billion, or a trillion- it's going to go even higher!). It would only take 60 billion to buy up EVERY non-performing Mortgage in the country, by the Government's own figures! That is what supposedly 'triggered' this crisis. Yes, 60 billion dollars worth of Mom-and-Pop remortgaging for a new home or Uncle Al trying to start a new business. Or how about this- based on the government's own figures, 700 billion dollars would buy up the present capitalized assets of 23 out of 24 of the United States Largest banks, as well as a good piece of the largest, J.P. Morgan! Why not give that 700 billion to the American Debtor Public with the stipulation that it be used to pay off Mortgages, Credit Cards, outstanding loans and other obligations? It would not only (through the public) give the Financial Institutions the money they claim they need to 'survive' , but would also help the poor and middle class back into solvency and further along the 'economic recovery'! That is, unless the purpose and ultimate effect of this legislation is not really to 'save the economy', but only one small, very wealthy and powerful sector of that economy, to the ultimate detriment and collapse of the economy as a whole.

According to the snake-oil salesman behind this abominable legislation, it's all YOUR fault, America! Not the Banksters who allowed unqualified borrowers to have mortgages and loans they KNEW would never be paid back. Not those same Banksters who sold the Mortgages to consolidators, knowing they were taking good money for bad debt. Not the consolidators who packaged all those debts into 'securities' (a non-sequitur if I ever heard one!), and sold them to investors, Pension Funds, Foreign Governments and other companies (and probably their own shell companies!), knowing FULL WELL that they were participating in the world's largest Ponzi Scheme. Certainly not the Federal Regulators who allowed EVERY STEP OF THIS PROCESS to take place without raising flags, investigating and PROSECUTING wrongdoers! And, Finally, ABSOLUTELY NOT the Federal Reserve! That Non-Governmental Body, which has NO GOVERNMENT REGULATION WHATSOEVER (you knew that, didn't you?), yet is allowed to control our money supply, regulate credit markets and create artificial 'Boom-And-Bust' cycles, ultimately for it and it's PRIVATE INVESTORS' own PRIVATE PROFIT!

The Fed has been pouring TRILLIONS OF AMERICAN TAXPAYER DOLLARS into the 'Credit Market's (read- Pockets of their own banks and financial institutions), and selling trillions of dollars in newly created 'Debt' via virtually unbacked Treasury Bonds to China, Dubai, Russia and god knows who else just to keep their self-created 'credit bubble' from bursting. Those 'infusions' exponentially increased the REAL money supply (not the overcooked figures that Chairman Bernanke trots up to Capitol hill every month or so!). That means that the price of everything from a gallon of gas to bread to clothes to heating oil to EVERYTHING goes up in price in a hidden (but painfully felt) 'Inflation Tax' that hits the poor and what's left of the middle class the hardest. Meanwhile, the wealthiest corporations and individuals are able to game the system to avoid and even take advantage of these economic swings. Why else is there right now more wealth concentrated in the hands of fewer people than in any time in our nation's history?

So where is the brave politician or media pundit who is willing to tell the REAL STORY to the American public? Perhaps he or she has been bought off by the money, acess to power or employment security that our beknighted Congressmen have? Or maybe they are bound and gagged with threats recriminations by working for the same people that are benefitting wildly from this all-too-real crisis of their own making? Or maybe they are so caught up in the machinery that they are too confused to tell the difference?

It amazes me that those who came into office in Washington decrying the 'system', it's overspending, over-taxing and under performance never seem to wait too long to come under the heady influence of big money and big power. There is virtually no difference between Democrats and Republicans, when they both cave in to big money interests- even when it means selling out the economic soul of their own country! Even 'The Maverick' McCain who rails against 'Big Spenders', Waste' and 'Pork-Barrel Spending Bills' voted for unquestionably the biggest, most wasteful and Pork-Laden piece of Legislation this country has ever seen. And he joined hands with the advocate for 'Change' in voting for the biggest 'More-Of-The-Same' bill in history.

It is being said that these companies being bailed out are 'too big to fail'. Who decided that? Where is the evidence? Who allowed them to get 'Too Big'? Who allowed them to be so horribly mismanaged (in dealing with government-regulated securities) for such an extended period without oversight, so that they ultimately DID fail? Why were the 'Fundamentals of the Economy strong' only a few weeks ago, when they obviously HAD to know this wall of debt sewage was racing down the economic hill for some time?

Most importantly, WHY ARE THESE QUESTIONS NOT BEING RAISED LOUDLY AND CLEARLY NOW? Oh, right... the election... It's more imprtant to look at the style of a candidates hair, or listen to their pronouncements of glittering generalities and mean-spirited personal attacks than it is to focus on the CENTRAL ISSUE facing America today. But then again, you can't hold the candidates or the politicians' feet to the fire when you yourself are working for the same paymaster who owns the media conglomerate you work for, as well as the banks, the industries and the POLITICIANS who you should be investigating as they loot the Treasury and economic future of this country!

Yes, America, welcome to the Brave New World of Corporate Socialism/Fascism. Where the government chooses which industries and individuals will prosper with government bailouts and tax dodges, and decides which ones will whither and die through onerous taxation, over-(or under)-regulation, and which will be gobbled up at fire-sale prices when the next 'credit bubble', 'savings-and-loan-crisis' or other engineered 'crisis' is massaged into the economy. It's not about Democrat vs. Republican, Left vs. Right or Liberal vs. Conservative. Those labels have become meaningless in the sea of lobbyist dollars that has swamped the moral miasma in Washington D.C.

All that matters is Right and Wrong. And Americans, when given the true facts of a situation, and not the 'crisis' bum's rush into poverty, are able to clearly see the difference. And this Christmas-Pork-Tree Corporate Welfare-for the Few-At-The-Top Bailout is clearly wrong.

xtrabiggg

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I am a 47-year-old lifelong Republican with strong libertarian (small 'l') leanings. I have felt the party has left me over the last 8 years, as more money and big-government interest took over the leadership.
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Theoretically, every hard working, tax p... by Matthew Peters on Sunday, Oct 5, 2008 at 1:11:50 PM

 

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