Unbelievable. Now we, the taxpayers, get to protect the foreign fat cats and corporate moguls, by being stuck yet again with their bill too.
This is amazing in it’s breadth and scope and audacity. And incredibly dangerous for the country. Planned by design, just like 9/11.
It doesn’t yet seem to matter to the average sheep that the American printing presses are going to start rolling at ever faster speeds, but it should. You can’t pay off debt or wipe out debt by creating more debt. It’s very simple really.
Failing financial institutions are not my problem, nor yours. But the government is insisting that they are to be your problem, alleging that this is “for your protection”. Every time the government claims “I’m here to help you”, you should run the other way.
Vaughn also sent me a bunch of links, there are a few that have already been posted here:
No, it wasn’t Dr. Evil that was asking for that amount. But it is someone that is as equally as troublesome; ‘Decider Guy’. Here we are into another weekend, and it is the third that the financial Ponzi scheme is playing itself out. Last weekend we saw the Lehman’s bankruptcy, yet they got $138 billion from JP Morgan (that has no money) and that was Federal Reserve-backed. The weekend prior to that was the $200 billion bailout of Fannie/Freddie. This weekend, no different. But, before we get to that, a crude accounting recap of this past week:
$138 billion for Lehman Brothers from JP Morgan, Fed-backed, AFTER the announcement of their bankruptcy;
$50 billion for the stock market before Tuesday’s open;
$85 billion for the ailing AIG;
$50 billion for Bank of America to buy Merrill Lynch. Although I can’t prove it and it’s not stated anywhere; I have a gut feeling as B of A has no money;
$247 billion cash injection from 6 central banks for the stock market on Thursday (Bank of Canada being one of them).
Then ‘Decider Guy’, ‘Commander-In-Thief’ announces Saturday morning that everyone is going to be responsible for $700 billion more! Are you twitching yet? You should be as all, if not most of that money, is going to come out of your pocket in the form of taxes – higher ones. The 700 billion bucks hasn’t been approved as yet, but you know it will be. Junior gets – what his buddies want. Don’t you just love bailing out billionaires on Wall Street? If you see one, kick a banker for me. Hard.
I’m not going to shock you. You can add up those dollar amounts and see for yourself that in the past 3 weeks, it adds up to a shit-load of money. Hint: it’s well over a trillion dollars of out-of-thin-air-backed-by-nothing play-dough.
Oh, what a difference a week can make.
They have been anyway. Bailouts/Rescues or not.
Friday? Good. I wanted a day for when financial collapse would start. And just why do they keep calling them ‘rescue plans’? They haven’t “rescued” anything for the past month! They simply throw more debt at debt!
This is from November 2007. Is it time for this to come to fruition? This line from the article was a good predictor; “The Panic of 2008 will lead to a lower U.S. standard of living….”
Why are American taxpayers who are already drowning in debt due to U.S. gamblers also being asked to also bail out foreign speculators? Well, that may be a typical question which a US citizen may ask without being apprised that 6 central banks just bailed out the US this past week.
7 minutes. Informative. But Max’s cartoon voice is killer. Here’s his website.
In the face of impending doom; have your military ready to suppress the masses of the angry and unemployed:
It is long past the time to be asking “what the hell is Congress and the Senate been doing?”, but at times like this, you have to wonder about the question anyway. Here is the answer:
Officials expect passage by huge margins in both chambers, since Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke have told congressional leaders the country’s financial stability depends on it.
House Democrats plan to insist on adding protections for homeowners facing foreclosure, and want to add measure to help homeowners facing bankruptcy, and an executive compensation restriction designed to prevent golden parachutes for the heads of troubled institutions.
Sen. Barack Obama (D-Ill.), who was supportive of the bailout concept in a statement released Friday, thinks that “whatever gets done in Congress has to protect Main Street,” senior adviser Stephanie Cutter said on MSNBC on Saturday.