We have a Republic.. which means that our elected representatives have to listen to the public via vote/voice but they don't have to go along with what the public wants if they deem it (in their "esteemed educated opinion" ) to be unconstitutional. Unfortunately when it comes to money, the public usually gets it right and the government does not. When it comes to wars, it's the other way around.
Because Congress dropped the word "bailout" and by the end of the week the people actually were about 50/50 in favor and against the bill.
The Democrat controlled Congress with the cooperation of the general media, pounded the message that our economy was bad, and that it was the companies that "controlled your fate" and were to blame; this in spite the fact that they collected record tax revenues for the past four consecutive years. Think about it: record tax revenues cannot be collected unless people and businesses are thriving. But they kept pounding the mantra: "Big Business is Bad, We in the Government are here to protect you from them" and have been pounding it for many years. This time they made the outlook so dire that the people finally actually are believing that the Wall Street and business are the evil ones. Making much of the public forget, if they ever knew, that Wall Street IS Main Street. That's how communists operate; they accuse before they can be charged; better known as "smoke and mirrors".
Congress passed the package because they had to cover their a$$es-ts. PERIOD. It is not Wall Street they were protecting it's themselves. Believe me this scandal would be much greater than Enron if the involvement in this fiasco by Barney Frank, Obama, Clinton, Pelosi, and other cronies would be truly revealed. They would be on the top rung of the greed ladder. Therefore you see it has to be covered with enough paper to make sure the vermin have somewhere to hide. With the investigation looming into FNM and FRE the urgency of passing this bill was of utmost importance. Do you really think they know what they signed? Do you really think they could read and absorb and analyze 400+ pages of law before they signed it? Remember it was the government under Clinton that mandated the banks to further ease the rules for lending so even more of the lower income population could qualify for home loans, it was that or be sued. Banks complied with the assurance of FNM and FRE backing them. "We're the government and we're here to help" ! Scary, huh?
So they took the biggest ever control over your destiny and they will not give it up again. You need proof? When was the last time government rescinded a law and gave back control into the constituents hands? 1933 with the repeal of Prohibition.
It's almost too late anyway.. unless people in the media finally get religion and get the real story out, for which I don't have much hope anymore. It's too late as far as a new Socialistic precedent in government controlling your life and money is concerned. This one's is far larger than : the Social Security Act "we're going to take care you"; the Medicare "we're going to take care of you" promises that still cost you far more than you can calculate. This time via real estate "we're going to take care of you" and your investments "we're going to take care of you". Just wait for the new Security Exchange Commission regulations, the new banking and lending regulations, because people were duped into thinking they needed government control; Not only will it cost you in dollars but in sense too.
End of story for USA as a Republic and your future as you now know it, unless you get smart, and vote right (no pun).
Republic vs Democracy - http://www.c4cg.org/republic.htm
PS. The link to this post is not an endorsement of any candidate as I am in the wrong State anyway, but he does make a ton of sense, so if you are there, I hope you do vote sensibly.
in my opinion, the bailout, is comparable to the titanic, when the top foke, got the lifeboats and the rest went down with the ship. Back in the day the caption used to go down with the ship, not so today.
This whole ordeal can be broken down to the a lack of moral standing, greed and excessive leverage. now i understand when the commandments say, greed is the root of all evil.
Not to mention, we HAD safety nets in place, to prevent this type of debacle, but the fact is, if nobody is manning the boat, or getting paid off, to to look the other way, its as if the nets where never in place to begin with.
What’s scarier is when you think we have the nets, and yet, there is none, that is why we have lost confidence in the system. Its like closing your eyes, and they say they are ganna catch you, and they don’t. mmmm.
What has happened in the global economy since the 80s to today I would say is like steroids, they puffed us up, full of credit, so we looked good, and robust, and healthy and strong, but really we were rotting inside from debt, mismanagement, corruption, and excessiveness.
As the ponzie scheme rolls on.. it was not until the consumer finally got so saturated full of debt, upside down, arms reseting, it was the perfect storm to begin to bring down this deck of cards.
Now the global economy is without its fake steroids.. and its hurting.. paying one credit card with the other.. printing more and more fiet money.
it aint over until the fat lady sings... or daddy finally says..
THE buck stops HERE.
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