Years ago, I was a stock broker with EF Hutton … remember the folks who said that when they spoke, people listened. I follow what’s going on in the money markets and have watched and listened as the multiple bailouts and shotgun weddings/mergers have unfolded these past few weeks in shock and awe.
Shock in how incredibly bad things are. And in awe as to how the great many of the financial pros and politicians have had the rug pulled out from under them. Not to mention the American public in general.
The financial markets have been spiraling for a long time. Last November, I recommended to the viewers of Denver’s KWGN-TV on a regular morning segment that the stock market wasn’t a place to be in if money was needed within the next three years; In January of 2008, I reminded them in another segment.
Cash was King, Queen … Everything … we were in turbulent times.
Fast forward to fall 2008. The economy is a bloody mess. I strongly felt that things were bad, but had no idea how really bad they were.
Several giants of Wall Street are in financial ruins. Should they be bailed out? Not without HUGE strings attached. And if the strings aren’t there from the get-go, then walk away. You, and I, have to “eat it” when we financially screw up … why should the big boys get another serving when they do?
The Lord-in-Waiting, current Secretary of the Treasury Paulson and his cronies–the Bush Gang, want total control with zip input from anyone. In Paulson’s Mother of All Bailouts, he spells out what he wants in Section 8, one scary sentence. It goes:
Quote …
“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
Unquote.
Would you give your financial life … a financial life that will weave into everything you know, affecting you, your kids and grand kids … to someone you don’t know; someone whose been on the “watch” for the past 8 years and has had to have multiple clues that things have been amiss long before the financial bomb was dropped on the American public and the world; and someone who is truly acting the Pit Bull (sans the lipstick … but than, who knows what he does in private) in a bully posturing of telling us that his way is the only way?
These Lords, and Ladies, should not get one penny for the mess that has been created under their watch; they should be returning the moneys that they raided under the auspice of “work” and “bonus” and they should be banned from every being affiliated with anything related financial that involves the public. The Scarlet F … for Fraud or whatever F word you want to tie to it.
Suggest you start calling and emailing your reps that the Bailout as its presented needs to be deep-sixed.
Tags: bailout, Bush, economy, fraud, pit bulls, pitbulls with lipstick
