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?