While Congress has been putting on a live theater show about how "concerned" they are that some AIG executives got several million dollars in bonuses, you're not being allowed to find out that people in higher places than that have stolen thousands of times as much of that money for themselves. Maybe this will finally convince you than an Establishment Democrat is every bit as vile as an Establishment Republican.They shouldn't have given AIG the stinking bailout in the first place. The tip of the iceberg screams putrescence. If you only knew what's going on behind the scenes, you'd scream. If you want to know, take your heart medication, and read on.
The Bush Administration was a den of vipers, no doubt. But the Obama administration is no different, a fact that's coming to light much sooner than I expected.
The Barack Obama administration knew about the bonuses even before they gave another $30 billion to AIG, and Obama himself was even in on the take from AIG during the campaign season. But that is as a snowflake in hell compared with how big the real problem is.If your congressional representative voted for the most recent stimulus package or for the bailout last November, no agenda item should be more important for you than to see that he or she is not re-elected. If he or she voted for either of these highway robberies, then your representative is either economically daft or they are a criminal.
These gangsters are behaving as though the world would cave in if "too-big-to-fail" AIG were allowed to fail. Please don't fall for that silly canard. Let me ask you this: when Enron went out of business did your power go out? As a pattern for things to come, it's important to notice that that "too-big-to-fail" organization did a lot more damage when it was still in business.
It wasn't just Bush administration officials that knew about this.
When Enron went out of business did your power go out? As a pattern for things to come, it's important to notice that that "too-big-to-fail" organization did a lot more damage when it was still in business.
Obama administration officials knew (and know) about it just as well as their Establishment Republican counterparts. And they are lying to you with as much effrontery as the Bush people were.Timothy Geithner didn't just forget to pay a couple thousand in taxes. He stole BILLIONS of your tax dollars, along with Bush Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke. What ought to make blood shoot out of your eyes is that most of the money that congress supposedly earmarked for AIG wasn't really for AIG after all. And because your congresspeople (including Barack Obama) were stupid enough to vote for the bailout, they knew they could ask for more and get away with it. Most of AIG's money got passed through to Goldman Sachs, Bank of America, Merrill Lynch, UBS, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Barclays, and others. Slate magazine says
The AIG bailout has been a way to hide an enormous second round of cash to the same group that had received TARP money already. It all appears, once again, to be the same insiders protecting themselves against sharing the pain and risk of their own bad adventure.What a racket!! It kind of reminds you of the Mexican Peso Bailout, doesn't it? Interestingly
Washington D.C. is a revolving door for thugs, and they are robbing ME blind. They're robbing YOU blind, too, but apparently you don't care.
enough, Lawrence Summers, deputy Treasury secretary in the Clinton Administration and instrumental in the Peso Bailout, is Director of the White House's National Economic Council in the Obama administration.Washington D.C. is a revolving door for thugs, and they are
Obama administration officials knew (and know) about the theft of tax dollars just as well as their Establishment Republican counterparts. And they are lying to you with as much effrontery as the Bush people were.
robbing ME blind. They're robbing YOU blind, too, but apparently you don't care.When will more people realize that it doesn't matter whether it's a Republican or Democrat administration, it matters whether the person believes in liberty and accountability, or whether they are a member of the Shadows of Power behind the scenes.
If you want your country back, and I hope to God you do, you have got to stop voting for thieves in an attempt to avoid voting for villains. The Bush Administration was a den of vipers, no doubt. It's now coming into the open--much sooner than I imagined--that the Obama administration is no different.
"Insiders" and "shadows of power behind the scenes" huh? Sounds like Book of Mormon conspiracy talk! Oh, wait, that book's not fiction, is it? ;)
ReplyDeleteIt's wealth transfer to the rich for "the good of us all" of course. Because, for us regular folk, life just couldn't go on if these corporations took a hit and had to restructure or something terribly unthinkable like that.
No, it's much better for our great great grandchildren to share the tax burden of this enormous debt and live with a devalued dollar and hyperinflation than it would be for US to not be able to get loans! Think about it, if no one could get loans then how would we even SURVIVE to HAVE grandchildren? I mean, seriously, greater good here.
Now the premise of this post is much more legitimate.
ReplyDeleteI'm suspicious of the "too big to fail" line, and believe that the structure of our economic system should prevent such massive businesses in the first place. But why are you so certain? What do you think would happen if, for example, GM and Chrysler, two huge companies which not only employ thousands, but upon which hundreds of other smaller companies rely, were to close shop?
derek- I think a more realistic question to ask would be:
ReplyDelete"What do you think would happen if [GM and Chrysler] were to fail, file bankruptcy, restructure under a new business plan or sell off the assets to another company?"
They're not going to fade away as if they never existed. Companies fail and restructure all the time.