When The Bullet Hits The Bone

Help I’m slipping into the twilight zone…

I don’t even know where to go with all this.  Not one to take for truth the blather from the media or the self-serving hypocritical spin coming from  DC Dummos like Pelosi, Dodd and Frank, I spent lunchtime today reading the the bailout bill and I gotta say, I’m happy the House dumped it.  But then I think, “Hell we’re going to get boned up the ass one way or another, why not just take it now and be done with it.”

The bill, in it’s current state, is crap.  Here are the bullet points I grasped (that we don’t hear much about from DC or the media):

  • There’s an additional appropriation of $50 million for a White House overseer to manage the bailout effort.  Guess who pays for that?
  • The bill raises the Fed’s debt ceiling to over $11.3 TRILLION dollars.
  • There will be lots of expenses (out of our pockets) for the asset managers and building managers needed to manage the properties the fed is buying.  All these managers will be selected  by bidding.  Certainly we shouldn’t expect bloated good-old-boy contract processes…the current administration has such a stellar record in that field.
  • There is no recourse available to the taxpayer other than vague language about “protecting the taxpayer”.  It has no specifics on how that is supposed to happen.
  • If the Feds make a profit selling off the assets they’ve bailed out, the surplus goes into “the Treasury”…yeah but for what purpose?  And where’s the fair market interest every person in this country should share in for lending these greed-heads OUR money?

There’s an email floating around with some bad math but a good point about taking the $750 billion and splitting it equally amongst every person in the country over 18, letting THAT incentive hit the streets, and letting the likes of AIG and Co. crumble like a stale saltine.  Not a bad thought.

And now all the WS goons are running for cover as the suits grabbed their cash out of stocks and headed for bond country causing a near 800 point drop in the Dow.  That’s not a bad start.

If Bush wants a bailout plan so bad, why doesn’t he hit up his good pals the Saudi Royalty for a loan?  Oh, right, that;s how we got here in the first place…

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7 Comments

Filed under america, bush, economy, government, useless politicians

7 responses to “When The Bullet Hits The Bone

  1. The biggest problem with the defeated bill is that it does absolutely nothing to prevent the problem from happening yet again. Freddie Mac and Fannie Mae should both get the death penalty for underwirting those bad mortgages. People who cannot afford a mortgage should rent instead of getting a mortgage and both Freddie and Fannie allowed them to borrow money anyway. Then they misrepresented the debt to sell it to investors. Time to shut them both down.

    Bill

  2. That’s all good to know. I have absolutely no idea what was in the package, and I’m sure I’m not alone..

  3. pretty bad huh? What’s worse is that this has been accumulating over time (a few years at least…) and no one said shit till now.

    Just think of all the high priced salaries there were in the middle of that secret….

  4. and the latest news…as the dow plummets and 399 stocks plunge in value, campbells soup is the only one that rose. go figure.

    weird times.

    boned up the ass is right, and i think they are using a barbed strap on.

  5. I’m so fed up with it, I could spit nails. I mean come on, why? Kiss our asses good-bye fella’s, it’s all over but the cryin’.

    There has got to be accountability on every level. For you, for me, for them and they were not playing above board. Ah, it’s enough to piss off a preacher, ain’t it?

    Hi Coop!

  6. I’m having nightmares about it all…. and don’t like it one little bit. Dave and I were talking the other night and decided we know what the problem is. No one wants to live within their means. We have a friend who lost his job ($56,000.00) and has since learned to live as simple as possible. He told Dave “if I had my old job back, I’d be a rich man.”

    I read/heard some where that what is considered middle class income is around $250,000.00. Good grief… If that’s the case, I iz po.

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