June 23, 2008

Yet Another MoziloGate Smoking Gun - BofA tells Dodd how to spin his mortgage lender bailout plan. Too bad (for Dodd) that the memo got leaked.


"We believe that any intervention by the federal government will be acceptable only if it is not perceived as a bailout of the bond market"

- Quote from leaked confidential BofA position paper that became Mozilo-corrupted Senator Dodd's BofA/Countrywide Bailout Bill, June 2008.

(Note that this paper states that over $1 trillion in US mortgages - which of course Countrywide wrote the most of - are currently at risk of default, and predicts that over $400 billion, or 43% of all subprime mortgages ever written, will default)

62 comments:

You'll see said...

I'll bet it will be worse than "stated"

Anonymous said...

everyone should click the digg or delicious links at the bottom to try to get the story pushed up as most popular

happy homeowner in the stix said...

Eh, he'll just end up as Secretary of Housing in President Obama's administration.

Don't worry about ol' Chris.

HeyMoe said...

This article is a must read. It details how a LARGE part of the bubble was due to affirmative action/minority lending programs. Thus the zero down/subprime for minorities. man are they screwed now.

In america affordable housing means HUGE MORTGAGE with down. haha sukas.

http://tinyurl.com/659wcc

Anonymous said...

LIAR!

Democrats are honest. They would never do anything like this. Nancy Pelosi told me that if I vote for her , corruption would end in politics.

How dare you accuse Sen. Dodd of such unspeakable acts? You must be a member of the vast right wing conspiracy.

Good day to you sir.

Anonymous said...

"affirmative action/minority lending programs"

Sounds like redistribution to me.

Anonymous said...

happy home:

Dodd was until very recently considered a possible VP for Obama. Not that the Obama supporting drones would care of course. Obama could be caught on tape with Osama bin Laden making 9/11 plans and the mindless drones would still support him and call the video racist.

fast actin tinactin said...

Oh Crap. It looks like Obamas been drinking the Ethanol Kool-Aid.

http://tinyurl.com/3vwr3c

Tony Soprano said...

10MM FTW! I heard that VLTOR is working on bringing back the Bren 10. I'll stimulate the economy as soon as it's released, hehe

Anonymous said...

I find it par for the course. Many bills in Congress are formulated outside of the halls of Congress. I dealt with defense companies since the 80's and I personally saw a lot of unsolicited proposals sent to members of Congress. Why do you think there are lobbyists? They do all of the brain work for our elected officials. Think about how dumb our Congreemen and the poliitcal flunkies are. The lobbyists hire the brightest to come up with solutions. It just so happens the lobbyists color the proposal to benefit their customers - big business. In defense, it is openly known that the govt relies on business to design future programs. This is no different.

Maybe disclosures like this will wake up America.

Jail Dodd said...

Jail Dodd.

Investigate B of A.

Mark said...

Don't worry - Obama will save us....he will turn on his biggest democrat supporters in the Senate and fight the corruption...

Anonymous said...

Don't trust their numbers.

Twice that amount of loans will fail.

happy homeowner in the stix said...

anon @ 1:18,

Yeah, I remember. He's too toxic now to be VP. I'm sure this will all blow over somehow by the time the Anointed One gets elected, though.

A pox on both parties, and all incumbents, including Saint Ron.

Anonymous said...

There's going to be a bailout so just accept the fact......the USA is corrupt and that is just the way it is.

Anonymous said...

the bailout is a done deal. live with it folks

Anonymous said...

The financial parasites are killing the host body

bitterrenter said...

Where were you brainstems when republicans ran Congress and lobbyists were writing all the laws that favored corporations, polluters and the white collar criminals?

Didi you just become aware of this phenomenon? Or are you just stupid and disingenuous?

Anonymous said...

Actually, all of this housing mess, corrupt Republicans, corrupt Democrats stuff might not be that bad.

Republicans got hit hard for being corrupt, and are going to make damned sure that they are clean for the near future.

Democrats still haven't had to pay yet, but if St. Barry gets elected, with a sweep of both houses, they will. The only problem is that we will all have to live through the next four years of hell first. In fact, I think Keith has it right. Endorse and support St. Barry so that the most corrupt period of America's history can be over and done with. I'm going to be supporting St. Barry too, as soon as my one way tickets to anywhere else come in. That way I won't be around for the great F-ing of America. When it gets back to normalcy, I'll be back.

Anonymous said...

MY GOD!!!

Why isn't this story on the front page of every paper and website in the country??

Do taxpayers not realize that Dodd would like to put them on the hook for billions if not TRILLIONS if this thing passes???

FLOOD the Congress and White House phone lines!!!!

Speaking of which---Keith, it would probably be a good idea to post the White house comment line again!! We must take massive action!!

Anonymous said...

The home construction industry lured in Mexicans to build new exurban houses for Americans trying to get their children away from public schools overrun by the children of illegal immigrants—in effect, a Ponzi scheme that had to break down eventually.



....ya, it wasn't the illegals they were trying to get away from!

David in SoCal said...

what is it going to take for us to get rid of the CORRUPTION????

almost all politicians are crooks and scammers!!

Its time for a change. IMO

Reality said...

Bitterrenter,

So now you are for housing/mortgage-lending bailout because it's a bill introduced by Democrats?

Why did I always have a feeling that you are a bought and paid for shill for some rich bankers? LOL

Anonymous said...

Leftists are sheeple unable to think for themselves. That's why political correctness was created - to tell them what to think and say. Bleet the party line. Four legs good, two legs baaaaad.

michael said...

"Didi you just become aware of this phenomenon? Or are you just stupid and disingenuous?"

so if republicans were being stupid and disingenuous then...dems are being stupid and disingenuous now.

same ole same ole.

cooter said...

http://www.takimag.com/site/article/the_diversity_recession_or_how_affirmative_
action_helped_cause_the_housing/

Anonymous said...


Bitterrenter,

So now you are for housing/mortgage-lending bailout because it's a bill introduced by Democrats?

Why did I always have a feeling that you are a bought and paid for shill for some rich bankers? LOL



He is what Josef Stalin referred to as a useful idiot.

Anonymous said...

Looks like bitteridiot couldn't score at Pride Week. He sure is pissy lately!

bitterrenter said...

When I become the topic of the debate and it disintegrates into insults from anonymous types, I know I've WON the debate. :)

Perhaps if you weren't such brainstems you could put a few thoughts together into a coherent rebuttal. Alas, that's asking too much.

xoxo,

BR

Anonymous said...

Noodles-

For those blaming the minority and affirmative action programs:

Please stop you're making my sides hurt with laughter...You're saying that these huge corporations making all this free/easy money gauging the poor couldn't stop and that they didn't keep pushing people into even worse loans while raking in huge profits?

Oh the poor and minorities...Stupid f@#ks...I agree with that being I'm one...
But as for big business with all their MBAs and degrees they all actually thought the party would never end...Look at all the deer in the headlight looks on so many so-called money professionals.

They kept pushing as many to the front of the Kool-Aid line IN ORDER TO COLLECT FEES/BONUSES & PROFITS.

Suddenly the over-extension and false bookkeeping wasn't their fault it was because they gave a loan to the Tyrones and the Garcias???

No company was complaining while they cooked the books and made their imaginary $...While FOX, WSJ, MSN and countless magazines cheerlead it and fed it to many idiot people.

Let everyone take a sip of the Kool-Aid...There's many who deserve it...Bunch of Democrats and God knows almost all Republicans who love a Laissez-Faire policey BUT WITH HUGE SUBSIDIES for themselves...Bit of an Oxymoron no?

Anonymous said...

The rantings of a desperate man:

McCain looks for energy breakthrough


Senator John McCain on Monday proposed the creation of a $300 million prize for anyone who developed breakthrough car-battery technology and recommended greater tax incentives for buyers of nonpolluting autos, saying that only a combination of increased oil production, conservation measures and ingenuity could ease the fuel crisis and slow global warming.

JordanT said...

"what is it going to take for us to get rid of the CORRUPTION????"

Stop voting for or defending a politician just because he as a R or D in front of his name. Politicians get away with it, because in many districts party affiliation is the most important factor in voting.

Anonymous said...

Hi Everybody, I'm new to this blog. Can someone tell me why there's a picture of a corpse in the upper right corner under the word MoziloGate?

bitterrenter said...

How to ger rid of corruption? Create machines that will supplant humans.

You can only reduce corruption, not eliminate it. You do that by removing the financial incentives. Difficult yes, but made increasingly difficult by the atmosphere of greed and "self-interest above service" attitude ushered in and nurtured by conservatism.

michael said...

"Senator John McCain on Monday proposed the creation of a $300 million prize..."

damn it must be fun spending other people's money.

oh wait...mccain's a republican...errr...way to go mccain...perfect solution.

damn it must be fun to not have to think and accept everything "as is" due to simple party affiliation.

Anonymous said...

how do *I* write a bill that give *me* billions of dollars?

who do I talk to about that?

Reality said...

Bitterrenter,

Political power (the power of coercion) is the source of corruption. Remove political power, you will have little corruption as there would be little power to arbitrarge into wealth.

Attempts to mold "the new socialist man" is not going to work; nor would banishing money altogether. Soviets tried both. It all failed in the face of something as simple as this: sleep with me or give me that bottle of Vodka, and I will assign you to a lighter-duty/safer detail today. LOL. Money is even not necessarily for corruption.

Anonymous said...

Oh yeah, that's what I call change in DC, a "true reformer" of old politics. When are you fools (hello Keith) going to wake up?

NYT -- Obama Camp Closely Linked With Ethanol

When VeraSun Energy inaugurated a new ethanol processing plant last summer in Charles City, Iowa, some of that industry’s most prominent boosters showed up. Leaders of the National Corn Growers Association and the Renewable Fuels Association, for instance, came to help cut the ribbon — and so did Senator Barack Obama.

Nowadays, when Mr. Obama travels in farm country, he is sometimes accompanied by his friend Tom Daschle, the former Senate majority leader from South Dakota. Mr. Daschle now serves on the boards of three ethanol companies

Mr. Obama’s lead advisor on energy and environmental issues, Jason Grumet, came to the campaign from the National Commission on Energy Policy, a bipartisan initiative associated with Mr. Daschle and Bob Dole, the Kansas Republican who is also a former Senate majority leader and a big ethanol backer who had close ties to the agribusiness giant Archer Daniels Midland.

Not long after arriving in the Senate, Mr. Obama himself briefly provoked a controversy by flying at subsidized rates on corporate airplanes, including twice on jets owned by Archer Daniels Midland, which is the nation’s largest ethanol producer and is based in his home state.

Anonymous said...

The real question: if the housing gambler bailout doesn't go through, will B of A still be able to afford taking over Countrywide?

Reality said...

Bitterrenter,

"When I become the topic of the debate and it disintegrates into insults from anonymous types, I know I've WON the debate. :)"

That must explain why you have been so eager to insult me personally. LOL

Anonymous said...

You're saying that these huge corporations making all this free/easy money gauging the poor couldn't stop and that they didn't keep pushing people into even worse loans while raking in huge profits?

If you're poor and ignorant, stop breeding like flies and do like I did: Work hard to put yourself through school and get a degree. I know, it's tough but you won't die; I promise. For god sakes, enough with the excuses and whining already.

There are community colleges and public universities out there, which don't cost much to earn a degree. Plus you have public libraries that provide FREE books about financing or anything else for that matter. Oh, and there's that thingy call the internets.

Stop being a lazy a$$ whiner and take responsibility. That way you'll know that your $28k income won't be enough to afford a $700k oceanfront home. You will also know that having 4 babies by age 20 is expensive and irresponsible.

The message in this country now is about treating every irresponsible f*ck like a victim:

- You can't control your vagina? No problem, just do an abortion as birth control.
- Too lazy to work? No problem, here, take these food stamps and live free in a section 8 home paid by the people who go to work everyday.
- Trying to flip homes at expense of everyone else in the country? No problem, here's a bailout so you don't feel bad when your ponzi scheme fails.
- You can't follow German and Japanese examples to rebuild your countries in Africa, because you're either too lazy, too busy breeding like flies, or occupied killing each other? No problem, Obama to the rescue with $1 trillion of taxpayer money so you can feel stronger while at it. God forbid you commit all those atrocities and irresponsible behavior with an empty stomach.
- Are you an high achiever professional or an entrepreneur who plays by the rules? Shame on you says the Democratic party; we're going to raise your taxes so you can learn a lesson.

Anonymous said...

"When I become the topic of the debate and it disintegrates into insults from anonymous types, I know I've WON the debate. :)"


Actually, it can also be a sign that you've lost all credibility and have become a subject of public ridicule.

Anonymous said...


How to ger rid of corruption? Create machines that will supplant humans.


You are a total moron. Who will watch over the humans who create those machines?

bitterrenter said...

Reality honey,

Perhaps I should clarify. I win when the posts contain nothing BUT insults or content about ME. My replies to you are filled with content, not just insults. But really, are they insults if they're true?

Anonymous said...

Bitterrenter is what we call a "bitchy gay". You know, like those who serve our tables always with a bad attitude, frustrated because they aren't Colin Cowie or can't have six-pack abs.

The funny part is that his class is the one who usually live beyond its means, blowing money with properties and furnishings they can't afford, with rip-off designer label clothes, $300 testicle waxing or haircuts.

And Bitterrenter still has the nerve to complain about "the rich". Hey buddy, start with your queen friends first because they're the ones blowing the budget; never mind inflating all the neighborhoods, after they move in and call half of San Fran to start flipping. It happened in Key West, San Francisco, Greenwich Village, South Beach, West Hollywood, at the Le Marais district in Paris, Tenerife in Spain...everywhere!

And no, I'm not gay, but my wife and I know and work with lots of people who are. Also, I tell that to them, too, so don't come pulling the prejudice card on me.

keith said...

that's it - bitterrenter is sent to time out zone for the day and so are his or her tormentors

geeze,

bunch of kids

bitterrenter said...

Yeah, 2% of the population is ruining it for you.

Keith, I am a "he" and for those who are interested, I "pass" for straight. I'm butch with a capital B.

toodles till tomorrow,

xoxo,

BR

Anonymous said...

JordanT said...

Stop voting for or defending a politician just because he as a R or D in front of his name. Politicians get away with it, because in many districts party affiliation is the most important factor in voting.

Like a college football game?

Anonymous said...

I'd like to direct Bitterrenter to this article:

TIME for Socialism at the Ludwig von Mises Institute

bitterrenter said...

I read your article and I still think you're a bunch of bad citizen brainstems.

Cooperation over competition. Profit is theft. Those are phrases I believe in. Oh, and I have more!

Why is it that when you brainstems want to get out of paying taxes and obeying the laws and regulations that keep you from polluting or outright stealing from your employees, you become rabid libertarians but when you control a corporation you become rabid socialists? Let me explain. Try and keep up.

You free market lovers start a company. You then proceed to crush individuality and do your best to brainwash people into working together (COOPERATION) to build your company and enrich YOU. Non-stop lectures on "teamwork", "team-building" exercises, salary structures that limit individuals from exceeding the pay given peers. All very socialist. "Work together", you say, "and we'll build this company together." In fact, free agents who don't drink the company Kool-Aid get the boot.

My favorite, though, is the "salary schedule". When you hire someone you like the one-on-one, non-union approach because then you get the upper hand, though you profess some bullshit belief in "individuality". But then when someone comes to you for a raise you pull out the "salary schedule" and tell them, "I am sorry, comrade. You are stuck in this pay scale with the other proletariat. Da, my hands are tied, little vrucka. Now, return to your comrades and work together and enrich my free enterprise miracle!"

Case in point is that vile shithole Outback Steakhouse. It's owners/founders are rabid libertarians. But the funny thing is how they FORCE their employees to contribute MONTHLY to their political action committee that gives money to fight minimum wage increases, worker protection legislation, healthcare requirements, etc, all things that would BENEFIT the low paid restaurant worker. Of course one doesn't have to agree to the payroll deduction for the PAC but if you don't, don't expect to go anywhere but the dishwashing station any time soon.

Conservatism/libertarianism are simply ideologies based on selfishness and greed in constant search of excuses. Free markets, free minds, my ass. All you're doing is attempting to legitimize the worst instincts in humans because of your own inabilities to get beyond your arrested development of around 2 years old when everything a child sees they yell out, "MINE!"

But you people never turn down a freebie offered by the gubmint. But then that's a post for another time.

xoxo,

BR

NachoCamacho said...

Non-story Keith...97% of Americans don't know or care who Dodd or Mozzilo is.

Talk gas prices, man..that's what real Ameri-cuns care and talk about.

Edgar Alpo said...

Dodd had to borrow money after a lifetime of crime.

HAHAHAHA!!

The crash will be fun to watch.

Anonymous said...

Just business as usual here in the good old USA. The wealthy & big corporations get the bailout (socialism for the rich).

Everyone else gets the shaft.

Anonymous said...

Conservatism/libertarianism are simply ideologies based on selfishness and greed in constant search of excuses. Free markets, free minds, my ass. All you're doing is attempting to legitimize the worst instincts in humans because of your own inabilities to get beyond your arrested development of around 2 years old when everything a child sees they yell out, "MINE!"

But you people never turn down a freebie offered by the gubmint. But then that's a post for another time.



Thanks for the crazy person rant Bitterrenter. I think it's time to say the case is closed: Bitterrenter is a thoroughly discredited Marxist nutter.

Seriously, do yourself a favor and pick the most glorious Communist state you can find and go live there if you don't like the idea of individual liberty and economic liberty. Obviously the crazy anarchy in a free society is just too scary for you.

Sheesh, even the Chinese understand that a centrally planned economy doesn't work. It only took them like 50 years to realize that and now their economy is booming! Save your lame commie arguments for your latte drinking, Che Guevera look-alike buddies at Starbucks.

You might want to try reading "Jim Rogers: A Bull in China" to understand how free markets are rapidly and dramatically transforming that formerly socialist planned economy.

Anonymous said...

Case in point is that vile shithole Outback Steakhouse. It's owners/founders are rabid libertarians. But the funny thing is how they FORCE their employees to contribute MONTHLY to their political action committee that gives money to fight minimum wage increases, worker protection legislation, healthcare requirements, etc, all things that would BENEFIT the low paid restaurant worker. Of course one doesn't have to agree to the payroll deduction for the PAC but if you don't, don't expect to go anywhere but the dishwashing station any time soon.

There you go again confusing voluntary association equating it to government force.

You have the FREEDOM to CHOOSE not to work for Outback Steakhouse if you don't like their policies. In the private sector businesses must also compete for employees and mistreating employees will only result in that company losing the best and brightest employees to other businesses.

That is very different to government force or coercion where the only CHOICE you have is to pay a fat fine or go to prison or a labor camp.

You just proved that you don't understand the difference between FREEDOM and FASCISM so you have completely discredited yourself ONCE AGAIN.

Now go play with go have a cup of hot cocao in your favorite Chairman Mao coffee mug and go to bed. You're done here, Bitterrenter.

Reality said...

Bitterrenter,

"My replies to you are filled with content, not just insults. But really, are they insults if they're true?"

No, your replies are full of falsehood, including the one quoted here. For example:

1. Your belief that I don't donate to charities. False;

2. Your belief that my parents live off social security. Flase;

3. Your belief that I send my kids to public schools. False;

4. Your belief that I rely on public water in my house. False;

5. Your insistence that roads did not exist before the government got involved. False;

6. Your insistence that utilities did not exist before the governemnt got involved. False;

7. Your insistence that education or even public education did not exist before income tax. False;

8. Your insistence that medical research funding for the poor would not exist. False;

9. Your insistence that the WHO does not fund research. False.

etc. etc.

Need I list more? Frankly, I haven't see much of what you have been writing to be true at all. Sometimes I wonder if you are even from planet earth, much less this country.

Your insistence on using "brainstem" this "brainstem" that in almost every post you write is purely content-free insultation . . . especially since you haven't seen much frontal lobe capacity at all.

Reality said...

Bitterrenter,

You don't seem to be able to distinguish between consensual sex vs. rape. I enjoy sex, and I'm sure you do too. However, do you enjoy being raped? I'm not talking about role-playing.

"Cooperation over competition. Profit is theft. Those are phrases I believe in."

Then why don't you give me all the money you have? Any money you have is either profitting from your own labor or profitting from someone else' labor as gift.

Forced cooperation is not cooperation but coercion. Can I force you to "cooperate" with me when I want to shove some big object up your ass?

There is a fundamental difference between government coercion vs. private employment conditions: pay schedule is only a negotiation ploy. If you don't like it, you can go work for someone else. Even in the case of the steak house, there are plenty other steak house and other restaurants where you can work if you don't like the rules. The fact that you don't go somewhere else is either because they are employing you, someone who is not employable elsewhere or they are paying you more than other places would pay . . . so it's quite within their right to set their employment rules so long as you choose to work there. It's no different than someone demanding a pre-marital agreement; if you don't like it, go find a different spouse. I'm sure you have been to new boyfriend's house; do you just barge in and socialise his place for your own benefit? intead of respecting his wishes in his own house?

Government laws and regulations are quite different. You don't have the option of skipping out on them by just working for someone else two minutes drive away. In the case of federal taxes, IRS claims jurisdiction over all US citizens even if we are not living in this country. That is coercion writ large. That's rape, not consensual sex. Suppose a survey shows that other gay men love plunger handles, that still would't give me the right to shove a big plunger handle up your ass against your wishes!

bitterrenter said...

Typical mental midget brainstem responses. You people don't even understand the concepts in my posts. Not surprising.

Also not a surprise that you can't refute any assertions in my posts, falling back on weird personal attacks. Aren't you glad I gave you the gay tidbit? Now you can feel superior for absolutely no reason!

Anonymous said...

Anonymous said...


How to ger rid of corruption? Create machines that will supplant humans.

You are a total moron. Who will watch over the humans who create those machines?

The Final Five.

Don't you watch Galactica?

KoryO / Joey's Mom said...

You people don't even understand the concepts in my posts. Not surprising.

There's not enough tequila in the world to make them sound rational.

Mike Hunt said...

Bitter renter,

Reality is correct. Pay schedules are just a negotiation tool. You have a lot to learn about negotion, me thinks..

The basic premise to entering a negotiation with someone else is that we are fair and reasonable people. Otherwise there is a high chance of no deal being made because of fear of fraud or not wanting to deal with people who have stated their intention to deal in bad faith.

If you agree with this basic principle (this is the first assumption) then you have to look at the buyer and seller. Both have power and each argument of one can be countered by the other.

With pay schedules the employer (who has the majority of power in the employer / employee power balance) is using a negotiation tactic of the power of legitimacy- by having a schedule this says that all employees have an equal chance to increase their salary assuming that basic performance is met. This is fair and reasonable (see assumption 1.) Your counter to this would be that you are an exceptional case to this rule because of a good reason (made extra profit, fixed a broken process, did something special above your normal duties, etc.) and therefore this schedule doesn't apply to you. If you give a lame reason (I deserve more money, my mortgage is killing me, etc) then that isn't fair and reasonable and won't be considered. Ultimately your power lies in your future contributions and your ability to co-operate in the team and the employer would recognize that and would consider your case if you made it properly.

Let me give you another example of the power of legitimacy: the fixed price in any store. Why is the price fixed? After all some people may pay more for an item than others. The answer is back to assumption 1, everyone pays the same price because that is fair and reasonable. Interestingly enough retailers try to differentiate their products to target non-price sensitive customers by slightly changing the product offering but charging much more for that. Examples would be options on cars including the high margin low value items like rustproof undercoatings. At Starbucks you have a basic coffee but can pay for high margin extras like whip cream or sprinkles - again another way to target non-price sensitive consumers.

But I digress, the fixed price system is just like the pay schedules in the sense that it lies on the power of legimitacy. You can challenge this yet again though by making your case exceptional to the general public. For a fixed price in the store you can sometimes get a discount but you need some very good reasons. Some reasons might be: you are a very loyal customer (at a mom & pop store) and deserve a discount, volume discounts for increased quantities, discounts for floor models, discount for last years model, discount by changing the form of how payment is made- cash vs credit or pay upfront instead of over time. I hope you get the idea.

Last comment: the owner of the restaurant is taking far more risk than the employee, including having a significant portion of their wealth into the business. So why can't they set the pay schedules so they can profit well if the business does well? It's their right.... if they can't get employees to work as a team then they can fail (go bankrupt). Or if they are too strict relative to the market then attrition will be too high. It's a self checking and correcting system to some extent.

-Mike

Reality said...

Bitterrenter,

No personal attack intended at all. Being raped vs. having consensual sex are stark constrasts regardless one's gender or sexual orientation; it's the same stark contrast between coercion vs. freedom and libery. No need to be defensive about being gay. Just to share a tidbit with you, although I'm hetero (for now anyway, LOL), my first overtly sexual experiment was with another guy, living in a sexually very repressed environment at the time . . . Being gay or straight is never the issue in this discussion; it takes brain just the same to make a cogent argument. LOL.

I understood your points very clearly, and refuted them. It would be helpful if you try to understand what I was writing instead of hiding behind unfounded accusation.

If you don't feel like working for the Outback Steakhouse, you are free to work for other outfits (for less or more pay, depending on your negotiations with other restaurant employers). A Socialist/Commie Steakhouse however would call itself THE Steakhouse, and enter into a deal with the county so that it is the only steakhouse (chain) in one day's driving distance. All other steakhouses or restaurants are banned by law. In return for that monopoly, the county gets 10% of the profit. You as the potential employee would have no other restaurant to work for. Given that you have no alternatives, the management at THE Steakhouse can pay you a pitance, and make you work over-time without pay if they wish, on top of whatever other personal demand the manager can think of. Or you become jobless. If THE Steakhouse gets chummy enough with the government, THE Steakhouse managers may even be tenured government official positions. Their words would carry the official fiat of the government. If you are fired from THE Steakhouse for arguing with the "official," you may not be employable at any other business, which may also be owned by the government. In other words, you become a peon of the government official.

The irony is that, after a few decades of this, some useful idiot named "BitterUnemployed" may even marvel at the wonderful achievement of THE Steakhouse: how in the world would fresh beef and all sorts of condiments be shipped here from half a world away if not for the government run steakhouse! Long live THE Steakhouse! or at least the long lines of customers and job applicants alike, because there is no alternative. LOL.