Daily Archives: September 23, 2008

Wall Street’s Fraudulent $700 Billion Bailout

As the final curtain of the Bush administration’s criminal destruction of democracy slowly drops — while the U.S. and the rest of the world still reel from lies and shock tactics of epic proportions used against them to initiate the ‘global war on terror,’ and what was once known as democracy slowly dissolves into the fascism desired by the Bush administration — the final blow, basically amounting to Financial Terrorism, is serving as the coup d’etat that will help define the legacy of the most corrupt, never-elected President this country has ever known.

In addition to a myriad of other felonies and Presidential crimes committed by President George W. Bush and his administration — including, but not limited to, allowing the attacks of 9/11, anthrax attacks, starting illegal wars, torture, terrorizing the American public, illegally spying on Americans, manipulating the political system, making his own laws and believing himself to be above the law — attempts are being made by President Bush to quickly push a resolution through Congress designed to bailout the criminals on Wall Street. Not a good idea if you remember the past when Bush used scare tactics to push previously written ‘legislation’ known as the ‘Patriot Act’ through Congress. Now the people who brought us the worst financial crisis since the Great Depression are trying to stampede us into bailing them out.

For years the U.S. Government has accelerated wealth upwards into the hands of a few. This bailout would be a double standard: Wall Street profits are Wall Street profits, but their losses are our losses. Toxic bank assets would be bought for twice their market value and a select few would make massive profits at taxpayer expense. After all the crimes committed by President Bush and his administration — albeit, many with the approval and the knowledge of Congressional Leadership — it’s hard to believe that Bush, Cheney, and for that matter, all in Congress who have aided and abetted them, haven’t faced prison sentences yet. Now, as noted by Naomi Klein, is the Time to Resist Wall Street’s Shock Doctrine.

The biggest problem with the proposed resolution is the fact that it gives unprecedented powers to the Secretary of the Treasury — whose involvement in politics goes back to the Nixon administration — it has no oversight, and it doesn’t do a thing for all the taxpayers who are going to be bailing out Wall Street. Paulson came to the Treasury Department after leaving a top job at Goldman Sachs and would reportedly use the proposed bailout to help his old cronies at Goldman Sachs. Sound familiar? 10 reasons not to approve the bailout can be found from AlterNet.

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