Man, how stupid can we be.
"We" being the mainstream media, the US congress, and the people of America.
We got had. Again.
Damn, these grifters are good.
Folks, that $700 billion was given to Bush to supposedly stop the stock market from crashing, to get loans flowing again, and to buy up bad debt.
0 for 3.
The stock market crashed anyway. The loans aren't flowing. And the bad debt didn't get bought up.
Instead, the money is being given away in the night to big banks, a point that WAS NOT EVEN DISCUSSED DURING THE DEBATE OR IN THE MEDIA. It's being given away on laughable terms, not even close to what the free market would pay, and the banks are using it to buy up smaller banks, and also giving their executives obscene bonuses, and paying their shareholders (who should have been wiped out and weren't) their juicy dividends.
Let me put this as succinctly as possible.
We got robbed. Or are getting robbed (present tense).
Like never before.
To the tune of $700,000,000,000 cash.
These grifters are good.
November 01, 2008
So do you understand that the $700 billion 'bailout' was sold to us under false pretences? And that the Bush Administration conned America (again)?
Posted by blogger at 11/01/2008