Tuesday, September 23, 2008

Bailout Rant: Paulson puts the Jerk in kneejerk

Paulson, as Dubya’s surrogate, has really put the Jerk in ‘kneejerk’ this week with his all-out assault to ram this ‘bailout’ down our throats without sufficient Congressional oversight. Now, now, now, is his mantra (reminiscent of drill, drill, drill, yes?), as if to take time to actually think will be a dangerous delay. In addition to ‘now’, he also wants complete unfettered control of the monies and freedom to act as he pleases to accomplish the bailout, with the same experts whose championship of deregulation got us into this mess to begin with. Off with their heads I say! . . or would if I was king for a day, as Paulson wants to be King of the Economy (I.e. Robberbarron-in-chief).

We can maintain liquidity in the markets without swallowing up to $1 TRILLION in bad debt (much of it unsecured ‘mortgage derivative’ securities), and we can do it without shredding the Constitution and empowering the same idgits (Southern for idiots) who were proponents of these securities and chipped away at regulation until we had a total meltdown of the greed pyramid. Congress needs to be in charge here, if they want WTP to buy up their greed-based bad debt then WTP want to see to whom the checks are written and what we receive for the money. Watching their testimony, I see a man who knows that the faster they can get us to swallow this poison pill the better chance they have of setting it up to profit themselves and their friends.

Behind these men no doubt is the Bush Administration and all their shenanigans, the power-seeking language in their proposal definitely smells like Cheney to me. More power accrued to the Executive Branch is their goal, which they disguise (poorly) by setting the Sec. Treasury up as the Bailout King. Paulson is leaving, so they can put a new ‘loyal Bushie’ in as SecTreas and keep control over $1 trillion and the financial markets right? So even if McCain loses, they can oppose Obama with massive leverage in a position which is not subject to the new President, enough to defeat/degrade any new ideas so as to render him a lame duck from day one.

I hope Congress sees through this attempt at rushing, yet again (Patriot Act déjà vu), an important piece of legislation past us without a chance to carefully inspect the turd we see flying past our eyes. Please represent the American people, and defend our taxpayers from this attempt at hijacking our economy with socialism for the rich - but more foreclosures for the rest of Americans.

I heard some tough questions from members of Congress, and echoes of my own concerns, but can we count on them to go to bat (fall on their sword if necessary) to stop this rush to burden the taxpayers with the results of greed and mistakes by the very same folks who want to ‘manage’ the bailout money. I truly hope so, but only time will tell.

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