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…