Polished program of deceit

"Well, there you go again." That old famous line from the Repugnicant's favorite trickle down leader, Ronald Reagan. This time it needs to be said to them. I knew things would turn out this way. The lies to get their hands on a TRILLION dollars is mind boggling.

US Treasury Secretary Henry Paulson stated today that the bailout is working. I'm not sure what planet that he is on, but on this one nothing has changed except that the same banks that he has been partnered with during his career, and those that he has done business with in his career have received huge sums of money. Is any of that money "trickling" down to main street? NO! The banks are still in freeze mode with their funds. I would like to know from any readers, if you know of anyone who has received a new loan or refinance from this bailout...I'm waiting...I thought so. The banks have not loosened their funds a bit.

Bush and Paulson had stated previously to Congress and Senate that it would use the money to buy up bad debt. Now that they have the funds they have abandoned those plans and switched gears to simply continue to buy shares in banks to boost their funding. In other words, GIVE a failed institution money for doing a shit job. They gave out loans that they knew they would NOT be held accountable for due to the fact that they were packaged in such creative ways that it would take years to tear apart. Paulson is the same person who was on game that masterminded this kind of behavior in the first place through his previous positions. There were no measures in this bailout to these institutions that held them accountable as to how they would redistribute these funds. So, are they spending their money in the US...? Perhaps they are going to redistribute it into China as the dollar has done quite well there in the past few weeks with their economy going down the toilet...! Or perhaps they are filling their offshore accounts before they leave office...

This is exactly the socialistic "spreading of the wealth" that the Repugnicants touted throughout the campaign that Obama would be doing. Only it is a socialist program for the rich, how typical. Remember, when I said to mark my words that they will piss away the funds and none will be left when Obama gets into office...

How about helping out the now (and always) struggling car companies, like the deal that Lee Iacocca did in the 80's so that the thousands of people in Michigan's and other areas around the United States auto maker manufacturing companies can keep their jobs. Of course, Alabama Republican Senator Jeff Sessions adds, "Once we cross the divide from financial institutions to individual corporations, truly, where would you draw the line?" ...uh, let's see, aren't these financial institutions individual corporations? Or are they handing money out to the entire industry? This is unbelievable!

Why not give the car companies some assistance to help all of those people keep their jobs, by making the car companies build more fuel efficient and ecologically responsible cars for these funds. Have stop gap measures to make sure these things take place and hold them accountable. Oh, wait, this administration has no idea how to do that! Accountability? uuhh, isn't that the accounting dept.s' problem...Let's call the CFO and see if they know what that means, you know those guys at Arthur Anderson, we know them....Oh, yeah, Arthur, I loved that movie...

Instead of giving the banks hundreds of billions of dollars so that they can spend it where ever they choose, why not refinance the entire housing industry. Redefine ALL loans.

Here is an idea...Every loan could be reset at a new rate, for example let's say 3 or 4%. The loans would be through the government program of a seven year fixed. Seven years is enough to let people and the economy get things back together again. At that point, the borrower will reset to their previous loan and rate. This will make people rethink their purchase decisions and living decisions for the future with a deadline. Some will be able to be assisted with this, and some won't. For those that won't probably should not be in their situation to begin with. This will allow ample time for people to get out if it won't work for them. This would also allow ANY personal residence home owner the availability to get relief from the program and help put people into new homes again or keep their existing homes. This would assist the hard hit construction industry and construction supply industry immediately to help money flow. This would also help with the lending industry and getting some of those people back to work with refinances and home purchases again. This would free up people's lives and minds and move the economy forward. The government would be able to take an equity stake of the difference in each loan if the people were to sell within their loan timeline of seven years.

I know this is a thumbnail sketch, but it would make the economy move again immediately. What is going on now is Reaganomics all over again. That was a huge success for the rich but failed for the rest of the country.

Will history ever teach our government anything?! Oh, yes, it will teach them how much the lemmings will allow to be screwed and for how long, while the rich elitists rake it in...again...

By getting money into the people's hands, and not the corporations, will allow this economy to move immediately. Now, is the time, with prices of housing at near lows, and stocks at decade low marks for people to have the opportunity to take advantage of that. This will put money back into the corporations, as well, as the people. Simply giving banks the funds to redistribute this wealth, of which is the people's money to begin with, holds the commoner down. This is OUR money that is being pissed away to the rich! Doesn't anyone see this?!

Now, they are talking about giving the banks more money on the credit card lending, student loan, and car loan industry. This is another way of saying, "We will give the banks more money to lend out to the people so that they can get further into debt", vs helping the people get OUT of the deep debt that these institutions convinced them to get into in the first place! It is this debt that is creating the struggling economy as people keep getting into bigger holes to try to get out of the smaller one that they are in...

This is not a bailout, they are simply bailing more dirty debt onto the hole that they created for the consumer in a new and polished program of deceit to the consumer.



(c)Copyright 2008 Doug Boggs