Daily Archives: September 27, 2008

Failed Leadership And $700 Billion Bailouts

After spending a couple days in Congressional hearings, in which the financial leadership in Washington relied on using scare tactics in an attempt to persuade Congress to grant unlimited powers and unlimited taxpayers dollars — the figure requested was $700 Billion, but when all is said and done it could easily end up being over a Trillion dollars, despite the fact that a U.S. Treasury spokeswoman told Forbes that ‘we just wanted to choose a really large number,’ meaning that much of this ‘financial crisis’ may well be anything but that and that this is actually just another attempt by the Bush administration to gain more Unconstitutional, illegal powers — and it took until Wednesday night for President Bush to address the American people about the financial crisis.

A comparison by Jon Stewart of the Economic fearmongering speech given by President Bush and the extremely similar fearmongering speech given over 5 years ago to lie the country to war with Iraq is available from Crooks and Liars. Some may not be aware of the fact that almost 3 years ago the Bush administration also tried to give Wall Street $700 Billion when the ‘crisis’ was Social Security. More information on the fearmongering speech delivered by President Bush can be found from AlterNet, Think Progress, Crooks and Liars, After Downing Street and Media With Conscience.

Who exactly does this bailout help? A lot of signs point to the fact that this bailout would benefit the richest members of the ruling elite who have deceived and screwed the people of this country for years. An interesting article called “U.S. Titanic” by Jim Quinn from LewRockwell.com details how we have been lied to repeatedly by our Federal Government. President Bush, Alan Greenspan, Hank Paulson, Ben Bernanke, Barney Frank, Chris Dodd and numerous others — including many in Congress — have repeatedly perpetrated fraud against the American public. More information can also be found from this MSN Money Blog article. The director of the Congressional Budget Office reportedly said that the proposed Wall Street bailout could actually worsen a financial crisis.

With Bush’s past history of using secrecy and terror to scare the American public into submission — and for that matter, the Congressional history of caving in and refusing to do anything to impeach Bush or Cheney — how do we know their financial crisis is real and not fabricated? Bush’s 12 minute speech on the dire conditions of the U.S. economy was another example of offering nothing but fear itself, reminiscent of the boy who cried wolf too many times. It’s time for journalists to ask tough questions.

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