Bush and all the factotems of officialdom and their lackies (in both parties)are barking and howling and yelping every minute of the day now it seems, to make sure we all buy their line that unless the common people agree to take on nearly a trillion dollars in additional debt, the sky itself will fall. Well guess what folks? They are lying. They are creating this big lie and mass psychology of groupthink in order to pull off a thoroughly illegitimate and unnecessary act of fraud and theft. It's the same kind of con job we got on how we "had" to surrender our liberties because of 9/11 and how we "had" to invade Iraq or they would nuke us. Except this time, the dire threats are totally without credibility and the lies are even bolder than in the other cases. Why anyone would trust the tyrant Bush and his henchmen under these circumstances boggles the mind. The world must be looking upon this spectacle scrathcing it's head and wondering what the hell is going on in the once great United States.
It is time for cool heads to preval. The lies, hype and propaganda cannot stand the light of day. Speed is the only element that favors this spectacular heist. Slow things down (as our system is intended to do to protect us from unwise decisions) and they thieves will be thwarted. Regardless of the threats and attempts to scare the nation, our leaders need to stand firm against the hype and demand a high price from Wall Street, fully comensurate with the exceptionally huge request they are making of the common people of America. If they fail to do so, it will mean they will be back for more and soon.
What is the truth of the matter here regarding the financial problems Wall Street has and is trying to foist upon the taxpayers? The truth is not what we're hearing on tv or reading in the newspaper. The truth is that if the nation's greediest and most irresponsible businessmen are not rescued, the sky will not fall. The people will not suffer anymore than they already do. The economy will not collapse or stabilize based upon whether we assume the bad debts of the wealthy speculators who crapped out on fraudulent, worthless "securities" they knew were no good. The whole idea of having to hand over nearly a trillion dollars right away or else is little more than the most brazen scam ever perpetrated on any people in history!
Those of us who live in the real America have been aware of dire economic circumstances for years. The doctored unemployment statistics do not reflect the actual unemployment rate in the nation. Wages have been stagnating or dropping for decades despite continually increasing productivity on the part of our workers. Health care now is for the fortunate and destitute only: everyone in between just gets and stays sick until they're bankrupt. All the while our people have been suffering their increases in productivity have ot been used to reward them but to allow the corpulent rich to gorge themselves even more than they used to do.
The "dire" consequences we are all supposed to care about are, in fact, dire only for the predatory rich people. The suffering of these wealthy people, if you can call it suffering at all, is not a problem at all for most common Americans and won't have a negative impact on their lives. It actually might have a postive impact. We plebians have been in dire conseqences for the longest time and few (if any) of the aforementioned factotums, lackies, etc... of either party gave a tinker's damn about us, our relatives, friends, children or neighbors. I think it's high time then that the common people return the favor and say to Wall Street and to the wealthy and their tribunes "Go fuck yourself!"
If Wall Street is made to suffer the consequences of it's own irresonpsibility and greed how does that negatively impact the America I live in where people are and have been suffering for years much more than the wealthy on Wall Street will ever suffer if they have to own up to their fraud and incompetence? The truth is that it doesn't. The powerful have found it acceptable to have our people suffer and struggle so I think it high time we told our "betters" now that they want to steal our money on top of screwing us for the past 30 years that it's time they tasted the medicine we've been swallowing forever!
Ultimately, this financial problem/collapse/crisis highlights a much bigger and overarching truth that Americans have not faced and the powerful are even now laboring very hard to keep from coming out. That greater truth is that our capitalist system, left to it's own "genius" is a collosal failure. This lesson was learned well by the American people during the New Deal and the right wing has never ceased to do all it could to make sure people forgot it. Well they got their wish and it has delievered precisely what it always delivers: riches for the rich and subsistence for eveyrone else regardless of how much wealth is available. It is a system, that, left to it's onw devices, never fails to fail. The system has gone bust once again because it doesn't work. It isnt malfunctioning at all. It's now functioning just as the wealthy wanted it: unfettered by regulation, under the total control of the modern day Babbit's of America who care not at all about anyone but themselves and who simply cannot control their shortsighted greed even if, in the long run, it is to the benefit of the sacred shareholders.
During the Prague Spring of 1968 Alexander Dubcek and those whose hopes rested upon his efforts talked about fashioning what they called "Socialism with a human face." We in America need to look clearly at our system and decide pemanently that we must have a "Capitalism with a human face." If we do not demand this, then the system will eventually collapse in chaos and revolution. Is that what the predatory elite really want?
I believe that instead of glossing over the titanic failure of the conmen of Wall Street, our leaders should let the predators crash and burn and only move in when we, the taxpayers and common people of the country, set terms very favorable not to them, but to us! Like any financial institution or investor rescuing a bankrupt company we should provide no capital without a full $1 in equity for every $1 dollar we put up. We should demand the best and most favorable terms for us, not for them and for a seat in every boardroom and to set terms for operations of such businesses moving into the future. After all, we are not rescusing families here or poor people. We are rescuing large, money making institutions that exist solely for profit.
The failure of Wall Street is not a crisis for the common American people at all. This is a crisis only for the powerful representatives of predatory wealth in America and their benefactors. FDR called them the "maelfactors of great wealth" I believe. Only the calendar has changed, but the nature of the interests FDR and the New Dealers battled haven't changed one whit.
What's happening is The Battle at Kruger with human participants instead of peaceful water buffalo vs a pride of hungry lions taking place right in front of us. If you haven't seen The Battle at Kruger just put that title into Youtube or a search engine and go watch it. It will be worth your while. We, the people through our government, hold all the cards in this situation, but we are so used to being cowed and belittled and told what to do by the predators of Wall Street that we are hesitant to charge them, take command, set terms and force them to do our will for once. It is time for our leaders to assert the power of the people and provide not one penny in relief for the predators without a direct, equitable exchange that benefits us. Anything less, and the US Congress, as the representative of the people's interests, should say no to any action at all.
Comments
"They are lying."
We have the same sense of smell. And I agree it won't help average Americans much if at all if recent history is any indication. This rush to cram a bill down our throats is likely just a rush to make sure the public doesn't catch on and react in time to put a stop to this latest raid on our children's future. Any bill that is rushed through like this has no transparency because very few have a chance to carefully assess the implications or to see what's being thrown in at the last minute.
So I've been waiting for Obama--or McCain-- to come out with a strong statement that says "lets put the breaks on and give Congress and the taxpayers a chance to carefully review this trillion dollar transfer of taxpayer funds to the well-stocked corporate welfare account." (I have less hope that McCain will put the breaks on...but Obama said the election is about the people, and about changing the way Washington works, and that he would make sure all Americans have a seat at the table when important decisions are being made. And he said transparency is so important to good government and effective policy and discourse.
Is Obama silent because the public actually buys this nonsense due to the 24/7 media brainwashing that's going on right now? ("depression or hand over a trillion--that's your choice, American taxpayers") Then again, I'm not sure many are buying this; I hear the phones in Congress are overloaded and tied up with Angry Americans.
Clause 8 (at end of comment) is an abomination. Is clause 8 just a red herring that was never really meant to actually go in the bill? Was clause 8 just put in to later be taken out as a way to placate a predictably angry public? (a public that would not accept most of the REST of this bill EITHER, with or without clause 8, if they had any time to digest this and further evaluate it?) Is clause 8 just going to be used as a "see what we did for you...we got rid of clause 8 so now we, the trusty Congress, will ensure we give a trillion of your children's money to the right people." I mean it's ludicrous to think Congress would give anyone this kind of money to dole out on his own and risk leaving out their biggest donors. That could never have been a real plan.
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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.
more on clause 8 is here: http://www.huffingtonpost.com/2008/09/22/dirty-secret-of-the-bailo_n_128294.html
by Logico (not verified) on Thu, 09/25/2008 - 7:59pm
oops...I meant "brakes"
by Logico (not verified) on Thu, 09/25/2008 - 8:00pm
I am afraid that Obama's silence is due to the fact that he is fully a part of the Washington congressional Democratic brothel dedicated to servicing the rich and powerful while also claiming to be looking out for the little guy. I fear that Obama, like many if not all of the other Congressional D's has not come to terms with the fact that you cannot serve two masters. He and they cannot serve the interests of predatory wealth and of the people. That little scam won't work anymore.
Of course, I'm still for him over McCain but the truth is that the people have very little voice in either party and that's why we've got this elaborate con job taking place now. If it can be slowed, it can be stopped. Perhaps Bernie Sanders and a few rabid right wing Republicans can filibuster it.
by oleeb (not verified) on Thu, 09/25/2008 - 8:31pm