Monday, September 22, 2008

The American Crisis

I can't say nothing about the Great Treasury Robbery. I am going to post some excerpts from other sources.

From Devilstower at Daily Kos, an essay called Three Times is Enemy Action:

"Once is happenstance. Twice is coincidence. Three times is Enemy Action."
-- Auric Goldfinger

James Bond's wealthy nemesis may have had an obsession with gold, but he judged, quite correctly, that if people keep putting your plans awry, that was likely their intent.

[Much relevant history, justifying the "three times."]

The sub-prime mortgage crisis that has not only come so close to utterly destroying the markets, but has ruined the value of many people's homes and left millions with mortgages they can't pay, was also the outcome of the deregulation created by these men. The very predictable outcome. When taxpayers are left holding the bag for $1 trillion this time around, it's hard to believe it's any sort of accident.

This is enemy action. This is a bullet deliberately fired into the economy by men willing to exercise their ideology regardless of the cost to taxpayers. Men who have every expectation that they can plunder the system again and again, while the public picks up the tab. John McCain may not have had his finger directly on the trigger, but he was there. He assisted. These were his personal friends and philosophical comrades. He may not be the high priest, but he has been a loyal acolyte in the cult of deregulation.

From, an article called Seven Simple Reasons to Oppose the Bailout:

[Reason 6] Constraining our future. As I said yesterday, not only will this bailout deny us access to capital that we could have used for countless new projects and investments that we desperately need, but it will further constrain us from engaging in any sort of new infrastructure building or real innovation to put this country back on track. While Obama’s administration may be able to push through legislation that amends or changes existing laws, the real big-ticket items–climate change mobilization, national health care, broadband investment–will not happen without capital to fund them. This is a political time bomb designed to sabotage any attempt Obama will make at real change by hamstringing him financially until the Republicans move to take back Congress in 2010. It’s no coincidence that Paulson’s package is on a two-year timeframe, after all.

And just for the least glimmer of hope, an anonymous e-mail supposedly from an angry Democrat in Congress:

...I also find myself drawn to provisions that would serve no useful purpose except to insult the industry, like requiring the CEOs, CFOs and the chair of the board of any entity that sells mortgage related securities to the Treasury Department to certify that they have completed an approved course in credit counseling. That is now required of consumers filing bankruptcy to make sure they feel properly humiliated for being head over heels in debt, although most lost control of their finances because of a serious illness in the family. That would just be petty and childish, and completely in character for me.

I'm open to other ideas, and I am looking for volunteers who want to hold the sons of bitches so I can beat the crap out of them.

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Anonymous Retired Tourneyer said...

Do you have a link for that anonymous letter?

Too bad it's anonymous - I'd like to volunteer for the SOB-holding, but only if I get to throw a few punches as well.

12:13 PM  

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