Posts Tagged 'Bail Out'

Already, another Bailout Scandal!

Why was your uncle SO against the $700+Billion bailout?  Because having Hank Paulson calling the shots at the Treasury – and setting up a Wall Street bailout plan – is like asking a fox to guard the henhouse.  The original bill did not have enough oversight and transparency, and the re-worked one – that they shoved down our throats – was just as deficient, but with a lot of ADDED pork!

The transparency aspect has already been compromised.  (Not that your uncle is surprised any!)  Check out the story at this link:

http://www.washingtonwatch.com/blog/2008/10/23/bailout-scandal-undisclosed-sums-paid-to-ny-mellon-bank/

Why do you think this blog’s tag-line is:  Listen to your uncle!

;~(  YUR

Don’t Buy The Hype! (More Language Games)

The geniuses, who love to parse words, in order to allay your concerns and sway your opinion, are trying real hard to sell us the Wall Street Bail Out Plan as the “Economic Rescue Plan”.  They know that not enough people will buy into the idea of bailing out the corporate fat-cats, who largely are responsible for the situation that we are facing.  So, what DO they do?  Well, they replace “bailout” with a more palatable word.  A more positive word.  A more heroic word.  “Rescue”.

You “bail out” your buddy, when he gets arrested for drunk and disorderly.  You “bail out” your brother-in-law, when he gets picked up in a “John” sting.  Essentially, you “bail out” someone who has done something WRONG.

Firemen come to the “rescue”.  A lifeguard “rescues” the drowning person.  The cavalry, or the Marines, come to the “rescue”.  When there’s a flood, or earthquake, or any natural (or man-made) disaster, those who come to help are called “rescue” workers.  There is nobility in a “rescue”.

But, rescuers are not paid to be judgmental.  When it comes to doling out $700Bil, of tax payers’ money, to prop up mis-managed, failing businesses . . . shouldn’t we expect some judgment?

Now, guys like John McCain are now complaining about Congress’s “inaction”.  Inaction?  They took action, John.  They voted “NO”.  Enough (bi-partisan) congressmen made the assessment that the bill was lacking, and took the necessary action.  If they had the choice between that bill and another bill, and didn’t choose either one, then THAT would be inaction.

And, they keep telling us that “Time is running out!”  “Time is of the essence!”  “We HAVE to get this done!”  Whenever you sign any kind of contract don’t they always advise you to read things . . . carefully, first?  I mean we should ALL know exactlywhat we’re getting ourselves into, right?  Doesn’t it make sense to take a little time . . . in order to get it right?  The first vote gave it a thumbs down, and the world didn’t end.  So, now we’ve been given a little more time.  Hmmm.  It reminds me of those big car sales, where they tell you to: “Buy NOW!”  “Sale Ends September 30th!”  But, now . . . because they weren’t able to sell enough:  “Sale Extended to October 3rd!”

Whenever anybody tries to pressure you in to something, it usually means it’s not going to be in your best interest.  Don’t let them bully us into a bad decision.  WE are the ones paying.

YUR

Marcy Kaptur’s “WallStreet Bailout”

Ladies and Gentlemen, I present to you our next media darling: Representative Marcy Kaptur!!!  If I had been present, at the time of her speech, I would have given her a standing ovation that would’ve lasted SO long they would’ve had to drag my ass outta there!  She speaks truth to power.  She speaks for ME.  About the only thing that I would have added would be a call for Hank Paulson’s resignation.  They’ve finally pushed their sick little game just a little too far, and finally . . . FINALLY enough Americans have woken up long enough to say:  Screw you!  We are not going to take it anymore.  The gravy train has made it’s final stop!

Paulson no longer has credibility.  And maybe, through this attempted force-feeding of bad legislation, with all their fear-mongering, enough Americans will see just how complicit the corporate media has been, and DEMAND that they clean up their act as well!

YUR

Rejected Bail Out

Subtitle: “Is it any wonder you are too cool to fool?” – David Bowie, Fame

The architect/author of the bail out bill was George W. Bush appointee Henry (Hank) Paulson.  An ex-Goldman Sachs chief executive, whose comp package in 2005 was $37Mil, and was (projected) $16.4Mil in 2006, before being named United States Secretary of the Treasury on June 3, 2006.  His estimated net worth is north of $700Mil(US).

With this little bit of wording, in the initial version:

Sec. 8. Review.

“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.”

. . . is there any wonder why anyone responsible would be hesitant to approve anything submitted by this man?  A guy FROM Wall Street wants to give $700Bil (of our tax $s) TO  Wall Street, and he has the stones to insert such a Rovian/Bush escape clause???  From this point on the guy’s credibility (like his boss’) was shot.

Bush Job Approval           Survey Date          Apprv%      Disapprv%    Unsure%  

USA Today/Gallup 9/26-27/08 27 69 4 -42

Even IF the version that came up for vote today had all the necessary provisions for protecting the tax payers – and we’re hearing there were still substantial loopholes – there was always going to be a George Bush/Hank Paulson stink to this thing.  They could very easily remove half of this stink if Paulson RESIGNS (Are we to believe that – for the past two years – Hank didn’t know what was going on at: Bear Stearns, Lehman Bros, Merrill Lynch, Washington Mutual, Wachovia Bank, etc.?) and they get someone who doesn’t smell like a fox, working on the inside of the hen house.

YUR


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