[full size photo at my Flickr site here ]
And to think that many people thought that the Ron Paul supporters were too cynical about the Fed….
This monster bank/stock market bailout shaping up in Washington will probably be one of the greatest cons of the new century. This is simply letting politicians give themselves a blank check – or a withdraw line up to a trillion dollars – to reward their friends and donors.
And of course, it has to be done in secret – or else the magic won’t work.
And the crowning bonus – after all the perverse incentives politicians have created in recent decades – they will manage to foist the blame for the stock market dive on “the free market.”
Thus, they will entitle themselves to seize more power at the same time they squander hundreds of billions of dollars of other people’s money to bury the evidence of their previous follies.
Many of the brokerage and investment firms richly deserve bankruptcy for their shenanigans and irresponsibility. If taxpayers are forced to bail out the “Masters of the Universe,” that will be one of the biggest financial crimes in modern history. But the fact that many companies made foolish decisions does not entitle politicians to seize more control over the economy.
As Lily Tomlin said, “No matter how cynical you get, it is impossible to keep up.”
I am stunned by the lack of debate on the theft that’s about to be perfected this weekend.
We truly get the government we deserve.
Hell, I don’t deserve this current government, and you probably don’t deserve it either.
Most people won’t realize till it’s too late, as usual..
Don’t you know, too, that it is not patriotic to question your govenment?
Heh, and both Lefties and Righties continue to argue that Righties are staunch defenders of the free market, even in the face of such obvious evidence like this–as you so aptly label it–great con.
This is the most galling theft and rude imposition in a town full of them. Unfortunately for all of them, Ron Paul lit a brush fire that in a few years’ time might come and finally end the Fed. However, this might be unlikely because of the continued stupidity of the conservative party. Still it is fun to watch people on the left and right, socialists, bogus anarchists, enviros and gay rights activists all standing around and playing circular fire squad. I repeat, I love watching blathering idiots, such as those on Fox News, trade snake oil for wolf tickets. All the while over here on this lonely outpost of sanity, jimbovard.com, we will quietly be storing our gold and heading for the hills.
Jim, I just saw this line from a investment manager who lives in Michigan, and I think it’s quite fitting.
The US Taxpayer – A Giant Dumpster for Illiquid Assets!!
As to the point of no outrage, from time to time, I visit a website that’s a hangout for Bush ass-lickers, and the main topic on their mind. “Why is Sarah Palin not qualified to be VP?”
And these people are smart. I’d hate to think what the not-so-smart people are thinking.
Hmmm, a President named Bush, a bogus war in Iraq, and a bailout to benefit fat cat bankers at the expense of taxpayers. Didn’t this happen before?
There is a solution to all of this, but if I told you what it was I would probably end up being gang-raped in a federal prison.
Adam – “trade snake oil for wolf tickets” – GREAT PHRASE!!
Jean – the dumpster image might be the best metaphor for both our times and the Washington rascals who are conniving for this bailout.
Tom – it might not be that bad.
You could end up in a state prison – or maybe only a local jail – instead.