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Dispatches From the Front

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Message David Cox
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For the bankers and investors, these are can't-miss, sweet deals at great rates; for the middle class and people in trouble, you get nothing! You'd think a deal like this would be too good to pass up. Well, you're wrong because it gets better. "The government is entitled to a share of the profits." The private investors said this, and these are their words so I think it is fully appropriate that they get full credit for them. The government is entitled to a share of the profits from the private investors that they "squeeze" from delinquent homeowners. If, however, the struggling delinquent can't be squeezed, then the FDIC will consider writing down the cost of the banker's investment!

Struggling homeowners must deal with the banks while the federal government works with the banks, as well as partners with them, no less. I'd say considering the circumstances I'm still an optimist. The same banks that tanked the economy get to borrow the money back from the Federal Reserve for a quarter of a percent. While you, and notice that I don't include myself because I'm no longer a taxpayer, will pay out three and a half percent interest to give the bankers their money at a quarter percent.

Considering it's the largest transfer of wealth in American history from the middle class to the investor class, I'd say I'm still a sport! I think more than anything else what I want for you to understand is that this isn't about me. There are only two kinds of people here, those that are wet and those who are going to get wet. I'm wet, I'm soaked to the bone, but they can only get you once. They'll take everything you've got and steal from you in the process. They'll leave behind only your memories and dreams of former days.

Dreams of when you had a job and a house and a car and a future. I haven't lost my sense of humor though. I can still laugh at tea-partiers and the people who pay attention to them and worry about them. A dozen bikers and myself could send the whole bunch scurrying for their Suburbans and minivans. But remember this, when the paper rolls up the far edges join in the middle, and the next version of coffee klatches or tea parties won't carry funny signs, but bricks. Especially when they discover that the people who've robbed them were rewarded and subsidized for it by their own government.

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I who am I? Born at the pinnacle of American prosperity to parents raised during the last great depression. I was the youngest child of the youngest children born almost between the generations and that in fact clouds and obscures who it is that (more...)

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