Sunday, September 21, 2008
The New Socialist Dictatorship
There is a new socialist dictator and his name is Henry Paulson. The secretary treasurer is behind the bank bailouts, which will raise the national debt and saddle americans in order to pay for the golden parachutes and lifestyles of the plutocrats that run the financial institutions that are failing. Henry Paulson was head of Goldman Sachs and appears to be protecting his own at our expense. We now hear that he wants to extend the bailouts to foreign banks that have operations in this country. This dictator will saddle us potentially with 1 trillion in debt, and yet, he has to call Warren Buffet for advice, a robber baron that makes his bones in downturns and through other people's misfortunes, not to mention it is unethical if not illegal for Paulson to be discussing what is in essence insider information. Didn't Martha Stewart go to jail over that? To add insult to injury, Paulson is pushing congress to pass this buyout without knowing what it entails and the consequences. To understand how much power this guy wants, a quote from the bailout bill: “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”...“The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.” There is an old saying that the fish stinks from the head and this one does. These plutocrats have screwed up with the subprime debacle. Bailing them out is analogous to a co-dependent parent or spouse that keeps bailing out, covering for and making excuses for a spouse or child that has a bad drug problem and commits crimes. Right now we are at a point where tough love is called for, and it's times for the banks to eat the shit sandwich. The problem is we have a new dictator in Henry Paulson that wants to bail out his buddies. Bush is showing poor leadership in backing this ill conceived plan. What do you think? Paulson is not an elected official, and Bush is a lame duck, but their plan will affect us for decades to come. Who do you blame? We have an election coming up and Barack Obama's solution is more regulation and bureaucracies, definitely a step in the wrong direction. Right now I am waiting to hear from John McCain and the silence is deafening.
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