Wednesday, September 17, 2008

Another $85B

Another $85B bailout for AIG. This on top of the $30B for Bear Sterns, the $300B bailout for idiot home "owners" and another $300B+ for Fannie and Freddie. The latest $85B comes only 2 days after the government said no more bailouts. So we now have almost a trillion dollars worth of handouts announced in the past 6 months. And Wamu and Wachovia are just around the corner with a sweet bailout waiting for them as well.

That's close to a trillion dollars that the government doesn't have. And where is it getting this money? China of course which already holds a couple of trillion dollars worth of US debt.

The people making these decisions should be brought up on charges for treason. How else can you describe the process of selling your country's future for the profit of your friends. And by friends I mean Hank Paulson, the Secretary of Treasury is the ex-Goldman Sachs CEO. You do do the math as to where his interests lie and you do the math as to who stands to gain the most from this and all the other bailouts. Hint: it's not you.

So as of right now the Federal Government of the United States owns 80% of the biggest insurer in the world. It also owns 100% control of Freddie and Fannie, which control about $5 trillion worth of mortgages. The next president of the United States has promised to raise taxes to a top marginal rate of 54.9%. The same president will provide socialized medicine for its citizens as well as state subsidized gasoline as well as state subsidized housing for tens of millions via mortgage freezes.

If anyone can make a convincing argument as to how the United States is NOT a socialist country, I'd love to hear it.

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