Monday, September 22, 2008

Wait Just a Damn Minute!

Ok let me get this straight. Wall street and the big banks were given complete freedom by the "conservatives" like Bush and McCain to do anything they want, any time they want with no significant regulation or oversight. Their theory being that the Free Market will control what will happen better then government.

So they did what they wanted. Many in these institutions made millions creating false wealth, shoddy business practices, giving bad loans and creating all kinds of strange instruments in order to get wealthier and wealthier.

And guess what, the Free Market did work, this bubble of false wealth is bursting. But now they are telling us, that the problem is these institutions got so big and so important in our economy that we have to bail them out.

So now comes George W Bush and Hank Paulson. George who created false crisis to rush our country into war, to pass the Patriot act, the single most devastating law to constitutional rights in our country's history, now wants us to buy that this is another crises and we need to jump in and do something now without thinking about it.

Hank Paulson a former CEO of one of the companies that helped create this mess, Goldman Sachs, now Secretary of the Treasurer, wants Congress to give him $700,000,000,000. He is going to hire "consultants" these would of course be people from these very institutions that mismanaged us into this mess. Then Hank and these other cronies what to protect the people that made millions of this mess by giving their former colleagues our tax money to keep them from losing all their millions they made while most of America suffers.

And here is the kicker. He wants complete authority with no oversight whatsoever. Sound unbelievable? Here is section 8 of the proposed bailout. "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

The money they want to give to their friends and colleagues is your money. It is your children's money. In fact 700 billion is approximately $2500 for every man, woman and child in the United States.

Are you ready to give $2500 of your money to help out the guys who made millions through mismanagement? Then tell them use it anyway you want and we won't watch or review it?

I think not. This is Bush and Hank Paulson trying to raid the safe before they leave the company in a few months.

Obama is saying. Hold up lets look at this. McCain is all over the place as usual. The facts are some bailout will be necessary. But throwing more money without changing the regulatory situation that Bush and McCain created is just plain stupid.
Bailing out those that made millions while leaving the people that were wrong who are losing their homes, is just plain immoral.

We need wisdom from a man like Barack Obama to actually solve the problems that created this mess. Not a transfer of the funds of the U.S. Treasury to the millionaires that created and benefited from it.

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