NANCY PELOSI'S "BUY-IN"
By Lynn Stuter
October 7, 2008
America received the news on Sunday, September 28th that the $700 billion package now before Congress at the request of President Bush isn’t a “bail-out,” it’s a “buy-in.” That came straight from the horse’s mouth, Bush’s shill, House Speaker Nancy Pelosi. It’s now being parroted by other Bush Democrats like Representative Barney Frank (D-MA).
So, pray tell, if this is a buy-in and not a bail-out, what are we buying in to? Pelosi says we are buying into our economy, saving businesses and jobs.
But is that really true?
This financial mess, if one boils it down to the bottom line, is the result of Wall Street tycoons and bankers taking on bad debt, speculating against it, making a profit from doing so, but not offsetting that bad debt by profit; the profit, in large part, going into the pockets of the tycoons, bankers, stockholders, lobbyists and our elected representatives in the form of political contributions. According to this article on OpenSecrets.com those who voted for the $700 billion bailout package received 51% more money from the finance sector since 1989 than those who opposed it.
And the bottom line is that this all came about because of crooked Wall Street tycoons, bankers, lobbyists and elected representatives who profited from speculating on the bad debt until the whole concept imploded, as it was bound to, and the bad debt could no longer be ignored. The banks that held the bad debt became insolvent. This is tantamount to the average American taxpayer not paying his mortgage, his car payment, his utilities, his credit cards, but setting up a pool to bet against how long his bad debt would be ignored; taking the profit from that betting, living high on the hog, but not paying off the debts until his bad debts could no longer be ignored; then asking the community to pay off his bad debts so he still had his house, his car, and his money.
If you did that, do you think you would get away with it? Do you think they should?
And were it that the money made by the crooked Wall Street tycoons, bankers, stockholders were re-invested in the United States, one might be a bit more forgiving, a bit more understanding. But that isn’t the case either. That money, in large measure, went off-shore; right out of the United States.
And while these people moved their profits off-shore, they now want the bad debt shifted to the American taxpayers in bailout after bailout. Go here to see what the CEO’s of banks and business now insolvent made while their businesses and banks were going bust due to an ever-increasing debt load. These are the same CEO’s who now want the debt load they brought about to be paid for by the hard-working American taxpayers who, by and large, can’t afford to buy stocks on Wall Street at all; who live pay check to pay check while the government pilfers their paychecks and spends the money foolishly and with reckless abandon.
The current situation happened by design, not by happenstance or coincidence. Nothing happens by coincidence in the political world of today. And there is a reason it is happening now. As Vicky Davis has stated so well in The Great Swindle,
What Paulson is really seeking with this sham bailout is the power to move regulation of the U.S. financial markets to the international system - giving up sovereignty over the regulation of our financial markets. He is asking for the power to manage our economy during the transition. If you read the draft legislation carefully, you'll see that this is an open ended deal and the limitations on spending easily circumvented. The issue of CEO pay is a straw man for the media to harp on.
Any bailout money amounts to a taking from the American taxpayers in a redistribution of wealth out of the United States. The purpose is to push the American economy into the third world economic standard required for a “sustainable global environment.” If this bailout goes through, the American people will watch the American middle class disappear completely. What will be left will be a few rich landlords and a lot of peasants who will exist at the pleasure of the landlords; the old feudal system of the Dark Ages.
One of the goals of the “sustainable global environment” is a substantial decrease in world population. How better to do that then a world depression where people will literally starve to death by the millions. And anyone who thinks the OWO cartel cares, think again. These people worship but one god and that god is p-o-w-e-r.
Would you rather eat or bailout out the rich Wall Street tycoons, bankers and lobbyists who truly believe you exist so they can live high on the hog?
We don’t need a $700 billion bailout. What needs to happen...
- Seize and sell the assets of the CEO’s of the banks,
whether those assets are off-shore or domestic; use the profit of those
assets to pay off the bad debts.
2 - Seize and sell the assets of the Wall Street tycoons whose actions fomented this situation.
3 - Seize and sell the assets of all lobbyists whose actions fomented this situation.
4 - Seize and sell the assets of all elected representatives who profited from the actions of lobbyists, CEO’s and Wall Street tycoons who brought about this mess.
5 - Every loan (for whatever purpose) held by an illegal alien should be called, the asset seized and sold. Many, if not most, of the subprime mortgages that have been the fuel of bad debt speculation, are held by illegal aliens.
6 - Prosecute under RICO statutes all CEO’s, Wall Street tycoons, lobbyists and elected representatives who have brought about, or aided and abetted the bringing about of this mess.
7 - Substantially tighten credit.
8 - Tighten regulation of credit cards, both to amount of credit allowed and interest rates that can be charged.
9 - Stop all off-shore outsourcing.
10 - Place punitive tariffs on all goods shipped into the United 11 States, irrespective of whether the company has offices, branches or headquarters in the United States.
11 - Revoke the charter of the Federal Reserve Bank; return to the gold standard.
12 - Repeal the 16th Amendment to the U.S. Constitution and terminate the IRS.
Subscribe to the NewsWithViews Daily News Alerts!
And above all else, folks, quit falling for the emotional panic that the mainstream media; Bush, Paulson, their Wall Street cronies and lobbyists; and Nancy Pelosi and her do-gooder brigade are trying to engender. This is not an “economic” problem; this is a stock market problem caused by dishonest crooks on Wall Street and in Washington, DC. Don’t be panicked into making the American people pay for their dishonesty; make them pay for their dishonesty. In the words of Ohio Democrat Marcy Kaptur, “The assets they stole must be returned to the American taxpayers, right down to the tires on their Mercedes.” Never thought the day would come when I could agree with a Democrat.
© 2008 Lynn M. Stuter - All Rights Reserved