The Mounting tab
Federal Government has already spent, pledged or put on the line more than $1 trillion dollars to rebuild the nations financial system (From the party that promises you less Government and free markets).
Among this years major commitments:
$700 Billion to invest in banks and ACQUIRE troubled assets.
From my understanding the government buys up private stocks and owns part of the banking system. Is that capitalism? I think the new the word should be socio-capa-commu-lism.
$300 Billion to back cheaper mortgages for troubled homeowners.
Hey I got an idea why not let the government buy all our homes and then there would be no troubled homeowner mortgages...they'd all be renters. Then our government could be the ultimate slumlord.
$200 billion dollars to back assets of Fannie Mae & Freddie Mac.
Freddie and Fannie should get married file for bankruptcy and collect welfare.
$123 Billion to bail out American International Group (AIG).
Now you'd think that smartest guys in the room would have bought insurance to bail themselves out. Oh...that's right right they were insured or is that assured by the Republicans & Democrats with words to this effect," Hey Guys don't worry we gotcha covered."
$29 billion to help J.P. Morgan Chase acquire Bear Sterns.
Gee...and all I want is some help to acquire ownership of my mortgage for a small fee of $150,00. What a selfish SOB I am.
The total cost to ransom back your country is 1.35 trillion dollars. Please make that in small bills and in non-sequenceail numbers.
Here's my question:
How many Americans agreed to this bailout?
Call your Representatives today!
Friday, October 17, 2008
Tuesday, October 14, 2008
700 Billion Dollar Bail Out
From http://www.gainesville.com/article/20081009/znyt02/810090324 we read,
“Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, the White House said on Thursday”.
Here’s my question: Why is there a lack of confidence in the financial system?
Henry Paulson, the heir apparent to 700 Billion Dollars says this…
In Spring 2007, Secretary Paulson told an audience at the Shanghai Futures Exchange that "An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention."
Now he wants 700 Million (I’m sorry that’s his net worth) I mean BILLION dollars to bail out Wall Street and U.S. Banks. Notice the headlines don’t read the US..they say Paulson.
http://www.bloomberg.com/apps/news?pid=20601068&sid=ay09Vm6BF.vw&refer=home
In August 2007, Secretary Paulson explained that U.S. subprime mortgage fallout remained largely contained due to the strongest global economy in decades.
Now here’s a guy that were giving 700 Billion dollars to. What are his qualifications? Oh…that’s right he was Chief Executive Officer of Goldman Sachs from 1994 to1998.
Despite the 2007 subprime mortgage crisis, Goldman Sachs was able to profit from the collapse in subprime mortgage bonds in the summer of 2007 by selling subprime mortgage-backed securities short. Wow imagine that!!!
On July 20, 2008, after the failure of Indymac Bank, Paulson reassured the public by saying, “it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.”
I believe him when he says it’s a manageable situation…really he’s telling the God’s honest truth. Paulson, Ben Bernanke and pals have seen this coming. They sit on the sidelines and wait and then they clean up. Maybe somebody can tell me who’s been making the most money in last 4 weeks. Those are the guys who know what is going on!
On August 10, 2008, Secretary Paulson told NBC’s Meet the Press that he had no plans to inject any capital into Fannie Mae or Freddie Mac.
Could it be that Paulson is playing the role of the Joker in the Batman Movie in 1989. I can hear Paulson say, “And now, folks, it's time for "Who do you trust!" Hubba, hubba, hubba! Money, money, money! Who do you trust? Me? I'm giving away free money”.
Here’s the question of the day!
Where is this 700 billion dollars coming from?
Call/write your senators and ask them. If you find out please let me know!
Does anyone see any common threads with CEO Dick Cheney and Halliburton and their lucrative 12 billion dollar contract in Iraq? They say history repeats itself but so soon?
“Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, the White House said on Thursday”.
Here’s my question: Why is there a lack of confidence in the financial system?
Henry Paulson, the heir apparent to 700 Billion Dollars says this…
In Spring 2007, Secretary Paulson told an audience at the Shanghai Futures Exchange that "An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention."
Now he wants 700 Million (I’m sorry that’s his net worth) I mean BILLION dollars to bail out Wall Street and U.S. Banks. Notice the headlines don’t read the US..they say Paulson.
http://www.bloomberg.com/apps/news?pid=20601068&sid=ay09Vm6BF.vw&refer=home
In August 2007, Secretary Paulson explained that U.S. subprime mortgage fallout remained largely contained due to the strongest global economy in decades.
Now here’s a guy that were giving 700 Billion dollars to. What are his qualifications? Oh…that’s right he was Chief Executive Officer of Goldman Sachs from 1994 to1998.
Despite the 2007 subprime mortgage crisis, Goldman Sachs was able to profit from the collapse in subprime mortgage bonds in the summer of 2007 by selling subprime mortgage-backed securities short. Wow imagine that!!!
On July 20, 2008, after the failure of Indymac Bank, Paulson reassured the public by saying, “it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.”
I believe him when he says it’s a manageable situation…really he’s telling the God’s honest truth. Paulson, Ben Bernanke and pals have seen this coming. They sit on the sidelines and wait and then they clean up. Maybe somebody can tell me who’s been making the most money in last 4 weeks. Those are the guys who know what is going on!
On August 10, 2008, Secretary Paulson told NBC’s Meet the Press that he had no plans to inject any capital into Fannie Mae or Freddie Mac.
Could it be that Paulson is playing the role of the Joker in the Batman Movie in 1989. I can hear Paulson say, “And now, folks, it's time for "Who do you trust!" Hubba, hubba, hubba! Money, money, money! Who do you trust? Me? I'm giving away free money”.
Here’s the question of the day!
Where is this 700 billion dollars coming from?
Call/write your senators and ask them. If you find out please let me know!
Does anyone see any common threads with CEO Dick Cheney and Halliburton and their lucrative 12 billion dollar contract in Iraq? They say history repeats itself but so soon?
Introduction
My name is Michael. I have been a registered Democrat, a registered Republican. I am now very cynical about both parties. I have come to realize that the two party systems are different sides of the same coin. Really...all things lead to money. Money is not the the root of all evil. The exact quote is, "The love of money is the root of all evil". The people in charge the world's money supply are definitely in love with money and power. Money buys power. Power gets control and control rules the world. Who are these people? They are plenty of conspiracy theories out there but my focus is to ask questions about what is going on in our country. I would like to start conversations, verifies facts and then harass our elected officials with these questions. I will write satires and say ridiculous things only to start the conversation. We don't have to agree but we must all admit that we have a duty to search what is true. Please...for those of you who believe there is no such thing as truth please go to http://www.thisismytruth.com/.
To harass (of course we harass with respect) our government find your state's senator, congress person or the White House by visiting these sites. Call them with your questions.
http://www.senate.gov/
http://www.house.gov/
White House
comments@whitehouse.gov
To harass (of course we harass with respect) our government find your state's senator, congress person or the White House by visiting these sites. Call them with your questions.
http://www.senate.gov/
http://www.house.gov/
White House
comments@whitehouse.gov
I look forward to many posts and conversations!
Michael
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