Chuck Ponzi September 23rd, 2008
What more is there to say?
Gamblers, thieves, whoremongers. Seemingly unstoppable by lawmakers who care nothing for their constituents, except that the gamblers, thieves and whoremongers give them a cut on the way through.
If this passes, I will publish who voted for it and against it. If they are not against it, they are agains the American taxpayer. We have already rescued too many and I have had it. No incumbents should rest on their laurels. They are there by the grace of the citizens.
Here are some notable lies from the NYTimes:
If it works the way it should work, this is not an expenditure, it’s an investment.” — Secretary Paulson
If it were an investment, why doesn’t the Federal Reserve Bank step up and buy them? It’s a private institution that should be interested in investment, and they can create money out of thin air. I can assure skeptics that once the money is given, it will never come back. Either Hank Paulson is stupid or thinks we are. Take your pick.
In response to a question, Secretary Paulson sought to clear the air about who the bailout was supposed to help. “This is all about the American taxpayer,” he said. “That’s all we care about.”
Wow, blatant lying. It’s about buying someone else’s mistake so they won’t have to get punished for it. Coupled with these being friends of Hank and Bernies, and it’s cronyism at its pinnacle in history. I fear America will not survive this.
However, I am happy that some of the members of Congress are acting like they understand the problem:
Senator Jim Bunning, Republican of Kentucky, has emerged as one of the most strident enemies of the bailout proposal, and he did not disappoint today. “It’s financial socialism, and it’s un-American,” he said in his opening statement. On Friday, he offered a eulogy for the economy, saying, “The free market for all intents and purposes is dead in America.”
Senator Elizabeth Dole, Republican of North Carolina, had some harsh words for the mortgage giants that the government took over earlier this month. “Fannie and Freddie have utterly failed to deliver on their intended purpose,” she said. “In fact, they have done just the opposite.”
We’ll see if it sticks. I’m glad to see that some of the Republicans retain their party’s spirit besides Ron Paul.
and, the Democrats haven’t completely lost it either:
For Mr. Dodd, a larger issue was at stake in Mr. Paulson’s plan. “After reading this proposal, I can only conclude that it is not just our economy that is at risk, but our constitution as well.” Mr. Shelby echoed the point, saying the Treasury department was continuing “its ad hoc approach on a grand new scale.”
Our Constitution won’t be worth toilet paper if this passes. It’s so sad to know that so many died for this country, defending the rights and liberties afforded by the constitution. Only to have it shredded by fraudsters and liars. It is truly a sad day in America. Paulson and Bernanke are setting themselves up as enemy #1.
And, if that all depresses you, perhaps some humor about the situation will cheer you up. I am an ardent fan of scambaiting, and wish there was some way a normal citizen and taxpayer like me could stop Bernie and Hank from making the second (or perhaps the) biggest financial mistake of the Bush Administration. In light of this, I have discovered a satire of the bailout in the form of a 419 Nigerian email that has been going around, but found here. The joke is that Paulson is sending this around:
Dear American:
I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.
Yours Faithfully Minister of Treasury Paulson
As promised, I am posting directly before the election how each of the California congresspersons voted for the massive +$700B bailout. I believe that this number will be completely used up; I have no faith in lawmakers or the Treasury Department to make the right decision when it comes to how to steady the financial system; this money will find its way directly into the richest people’s net worth one way or another. The only way to prevent it is to prevent disbursing money.
