Good Morning Bloggers - The Bush Administration's - Paulson's - proposal that will slam into Congress next week demanding that Americans pump roughly $1 trillion into the US financial industry is nothing short of the greatest theft in the history of the US - and possibly the world.
I know that many of you are going to tell me that it's unavoidable, and that we have to spend the money to avoid a depression. Fine, but that doesn't change the fact that taxpayers are being asked to assume hundreds of billions in banking and other debt, which only occurred because of the way the Republicans destroyed the firewalls between different financial sectors, causing banks and small lenders to loan money willy-nilly, conning borrowers, and ultimately making billions reselling the paper for incredible profits.
It also doesn't change the fact that we're printing money so fast that our inflation rate will skyrocket, and probably next year, after Obama becomes president. It will be just in time for you Republicans to blame the entire mess on us. It just isn't fair. You screw everything up and will probably get away with blaming us. It's MADNESS! I wish you would all wake up tomorrow with a bloody conscience. HOW CAN YOU LIVE WITH YOURSELVES! You're screwing your own children, grand-children and great-grand-children. You're all nuts! You take, take, take, and when you destroy the system, you want to be bailed out - and then want more. You cannot be trusted running government.
I know many of you Republicans blame the borrowers. It's convenient, isn't it? You claim the borrowers lied their way into their loans - supposedly having no intention of paying them back. I think that's your way of coping with your own party's outrageous screw-up - no, THEFT! You can't blame people for wanting a better life! The Bush Administration, the SEC, the Treasury, and the Fed should have all be watching for this! Government and its institutions are supposed to make sure this doesn't happen - by law - and they dropped the $1 trillion pound ball!
If John McCain is elected and these policies are allowed to continue, then the proposed bailout will be paid for by the American worker and more bailouts may be required in the future because the greed and "casino culture" as McCain describes will be allowed to continue. There are so many thieves in this scenario that I don't have enough time to describe them all, so I will simply say that I believe the Republican Party and the Bush Administration should now be considered the most successful thieves in the history of our nation, and possibly in the history of mankind.
Btw, if you try and argue that FDR spent a lot of money to pull the nation out of depression, my response is that the money was spent on the American worker to create jobs and build infrastructure that serves us today. The trillion dollar bailout being discussed today bares no resemblance. It's simply stealing money from hard working people and giving it to large international institutions that will continue to steal from us.
I warn you, unless we elect Barack Obama and the laws are changed to repair the damage, this will go on, and on, and on. You will keep letting the fox into the proverbial chicken coop. We are screwed, and unless we all act now, we will be even more screwed!
Friday's Political Rant #1 - Michael