Specter’s Office Lying Again
I called Senator Specter’s office today to ask some questions about the bailout Great Heist of 2008. Like many others, I think this is a fraud being perpetrated on the American taxpayer, an open attempt to steal $700,000,000,000 of our hard earned dollars and handing it over to the very rich:
Why should we give a shit if a provision “limits participation in the program”? I call that “saving taxpayers money”. If a financial institution doesn’t need our money to survive, then GOOD!
The more I see quotes like that, the more suspicious I get about the administration’s motives. If this is a true bailout, then the troubled institutions have no choice and are desperate for the capital infusion. As a matter of survival, they will happily sign over warrants just like they’d give any other investor.
But what we’re seeing instead is the administration trying to gift their friends on Wall Street taxpayer money with no strings attached, and suggesting that anything else would be a disaster for the economy.
Color me very skeptical.
Update: heart of a quince in the comments boils it down to an even simpler question:
Why do we want to help banks that AREN’T failing?
Yes, why ARE they trying to help banks that aren’t failing? JJ Gardner at Arlen Specter’s office told me it’s because they don’t want to punish banks that aren’t yet insolvent. Huh??
I responded, “I don’t think I’m buying that. I think this is theft. For example, how come they don’t want any oversight or review?”
Ms. Gardner, responded “I thought you said you’d been paying attention, Secretary Paulson says he wants oversight!”
“That’s an outright fib!” I exclaimed. “I read exactly what he wrote in that 3-page document to save the US economy, that everything is “non-reviewable”. It was only today, after someone called him on it during that hearing that he said he wanted oversight, and that he only left it out because he didn’t want to be “presumptuous”. I mean, c’mon!”
“Sir, I’m not going ot get into politics with you, is there something you want to pass on to the Senator?
“Yeah, tell him NO BAILOUT.”
And for the record, here’s Paulson explaining how he was for oversight before he was against it:
These people are so full of shit. They simply can’t help but lie. I wonder how fucked up their children are going to be: probably the same sort of self-entitled, arrogant, sociopathic kleptomaniacs their parents are.
September 23rd, 2008 at 4:37 pm
The only way I could get behind this is if it required the top executives of every affected institution to declare bankruptcy and surrender all of their personal assets to the gov’t. Because I am compassionate, I would leave them enough money to buy a couple changes of clothes and first & last month’s rent/security deposit on a 2-bedroom house in the urban ghetto of their choosing. They would also each have to lick Barney Frank’s balls at the place and time of his choosing.