Things have gone from bad to worse to all out wonky. First off, wisdom has shown that the bailout isn't going to work. If it was invested in improving schools, medical facilities and general infrastructure we might see a turn around in America, but giving it to those folks who squander any equity they make on higher bonuses and day trading instability is plain foolishness. Now, it has gotten much worse. When Paulson etal announced the TARP Capital Purchase Program, he promised transparency. After all, with TARP, there is a very real potential of bankrupting the Treasury. Today, Bloomberg reports that Paulson and his robber Baron friends are giving away $7.7 trillion in credit and, get this, he isn't telling Congress who is getting the money!
This money could pay off half of every mortgage in America. Or it could provide free healthcare for every American. Think about what a relief that would be for American companies especially the automotive industry whose Union workers get full coverage. Or it could provide free education or best yet...it could stay in the Treasury and we could stop risking national insolvency.
I just quizzed my son for an exam last week. How did the British gain control of Egypt? My son replied, "By force, they invaded." No. Egypt borrowed too much money for building the Suez Canal and the British ended up own a majority share in the country!
Showing newest posts with label Paulson. Show older posts
Showing newest posts with label Paulson. Show older posts
Thursday, November 27, 2008
Wednesday, November 26, 2008
Citigroup
This bailout sucks...sucks our hard earned money that could be going into infrastructure and education, pouring it into people's hands that squander money on vaporfare.
Why can't the politicians see the simplicity of Paulson's scam
For example- answer me this...
Why have we've pumped in $45 billion into Citigroup which two days ago was only worth $35 billion on the market when we could have just bought the whole thing for less?
Why can't the politicians see the simplicity of Paulson's scam
For example- answer me this...
Why have we've pumped in $45 billion into Citigroup which two days ago was only worth $35 billion on the market when we could have just bought the whole thing for less?
Wednesday, October 1, 2008
Idiots Rule!
The Senate did what!?!?!?
Start this mantra:
There is no financial crisis. The rich have the money they are just trying to get more.
Keep chanting it until you have enlightenment.
During Reagan, unemployment went past the 10% for almost 6 months. The week? 6.1%
In 1982, there were 13 billionaires in the United States. Now, there are over 500 billionaires.
Two years ago the U.S. imported about $185 billion a month in Goods and Service and exported only $120 billion.
Last month? The U.S. imported about $230 billion in G&S and exported almost $170 billion.
That means we are buying more stuff and making more money to buy it with...as a country.
If you're not feeling your wallet getting thicker, somebody must be pocketing that extra cash.
People like Paulson who has convinced the Senate to give the rich even more money. Now, call, write, e-mail your Reps. Don't let the House pass this bill!!!!
Start this mantra:
There is no financial crisis. The rich have the money they are just trying to get more.
Keep chanting it until you have enlightenment.
During Reagan, unemployment went past the 10% for almost 6 months. The week? 6.1%
In 1982, there were 13 billionaires in the United States. Now, there are over 500 billionaires.
Two years ago the U.S. imported about $185 billion a month in Goods and Service and exported only $120 billion.
Last month? The U.S. imported about $230 billion in G&S and exported almost $170 billion.
That means we are buying more stuff and making more money to buy it with...as a country.
If you're not feeling your wallet getting thicker, somebody must be pocketing that extra cash.
People like Paulson who has convinced the Senate to give the rich even more money. Now, call, write, e-mail your Reps. Don't let the House pass this bill!!!!
Monday, September 29, 2008
Bailout fails!!!
Can we get a Hallelujah?
I hope you all looked closely at the votes. It is the Republicans who defeated this. The Democrats WANTED to had over the money with virtually no strings attached. But lo, not all Democrats voted for the bill. In a personal note to me Neil Abercrombie wrote: "I will not vote to bail out people who committed massive fraud on the American public." My sentiment exactly! But overall, when the Republicans shoot down a chance for their rich buddies to get richer, you know it must be flawed. Leaves you wondering how sheepish the Democratic establishment has become? They Republican establishment was obviously following their President's whim. It is only the rank-and-file representatives (ie people like you and me) that defeated the bill.
Everybody keep on their reps to kill this once and for all because they are planning a re-vote.
Paulson, unwittingly shows off the absurdity of the plan and its dark unpinnings:
One of the more contentious issues was how to limit the pay of executives whose firms seek government aid, a top priority for Democrats and even some Republican lawmakers. But it was a concern for Mr. Paulson, who worried about discouraging firms from participating in the rescue plan
So, if an executive can't make oodles of money off the bailout, they might not want their struggling companies to participate?
Paulson knows these folks since he was the CEO of the on-the-way-to-be-screwed Goldman Sachs. He is personally worth over a half a billion dollars himself! They don't care about America's economic well being, just amassing more personal wealth.
If Paulson thinks it is so important, why doesn't he convince a couple hundred of his best buddies to bailout Wall Street. They have the billions they ripped from the heart of working America.
But that would be too risky for them, but for some reason it is good enough for the rest of the hundreds of millions of Americans?
I hope you all looked closely at the votes. It is the Republicans who defeated this. The Democrats WANTED to had over the money with virtually no strings attached. But lo, not all Democrats voted for the bill. In a personal note to me Neil Abercrombie wrote: "I will not vote to bail out people who committed massive fraud on the American public." My sentiment exactly! But overall, when the Republicans shoot down a chance for their rich buddies to get richer, you know it must be flawed. Leaves you wondering how sheepish the Democratic establishment has become? They Republican establishment was obviously following their President's whim. It is only the rank-and-file representatives (ie people like you and me) that defeated the bill.
Everybody keep on their reps to kill this once and for all because they are planning a re-vote.
Paulson, unwittingly shows off the absurdity of the plan and its dark unpinnings:
One of the more contentious issues was how to limit the pay of executives whose firms seek government aid, a top priority for Democrats and even some Republican lawmakers. But it was a concern for Mr. Paulson, who worried about discouraging firms from participating in the rescue plan
So, if an executive can't make oodles of money off the bailout, they might not want their struggling companies to participate?
Paulson knows these folks since he was the CEO of the on-the-way-to-be-screwed Goldman Sachs. He is personally worth over a half a billion dollars himself! They don't care about America's economic well being, just amassing more personal wealth.
If Paulson thinks it is so important, why doesn't he convince a couple hundred of his best buddies to bailout Wall Street. They have the billions they ripped from the heart of working America.
But that would be too risky for them, but for some reason it is good enough for the rest of the hundreds of millions of Americans?
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