The Markets Have Just Given a Big Raspberry to Paulson, Bernanke, Bush and Congress
Monday, October 6th, 2008 by RLRFrom This Can’t Be Happening
By Dave Lindorff
Boy, investors don’t fool around do they?
When they see a dud, they let you know it. And that’s exactly what they’ve done with regard to that $700 billion bailout bill Congress passed on Friday.
The measure, largely developed by Treasury Secretary Hank Paulson on a Napkin over crepes with Ben Bernanke, the Fed Chairman, as they were discussing the collapse of the American financial system two weeks ago, was never really about rescuing that system. It was about figuring out a way for Paulson to extract his buddies at Goldman Sachs from the debacle of all those mortgage-based derivatives they and he had created to turn crap into gold.
Congress, which knew better, and which, last Monday, under an avalanche of angry calls and emails form taxpayers who were being hit with the bill, initially rejected this ripoff, caved in when the lobbyists arrived, suitcases full of cash, and when Paulson and Bernanke warned them that failure to act would lead to a new Great Depression, and perhaps the imposition of martial law (the Bush administration backed this latter threat up by dispatching an active military unit to duty within the country, for the first time since the Civil War, noting that it could be used for “crowd control” purposes as needed).
So on Thursday evening the measure passed and was rushed to the President’s desk for signature before Congress could change its addled mind.
The market promptly dropped by 1.5 percent the next day.
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What no one is discussing are all of the illegal tactics and strategies that have been carefully engineered by the Bush Administration, in his intervention in all matters of commerce.He could’nt convince the former Treasury Secretary to play ball, so Mr.Oneal now comfortably sits as an advisor to Senator Obama.I wonder has Mr.Oneal shared with Mr. Obama, just one of the man ways the Bush Administration had an adverse effect on the economic well being of those of us in so-called Main street, whom he has been roadblocking with his planted agents in the Treasury and the IRS just to name a few.Has anyone spoken to the former governor of new York?I wonder what he knows,that the white house feared so much, they felt it was time to reveal his mistress and not some of their cronies, who all do the same.The Department of Commerce needs to be investigated IMMEDIATELY.REMEMBER RON BROWN?–WHAT WAS THIS DEPARTMENT BEING SECRETLY UTILIZED FOR?-JUST REMEMBER AN ENTIRE STAFF IN ONE AGENCY PERISHED, BECAUSE SOMEONE HAD SOMETHING SERIOUS TO HIDE AND IT WAS CLOSE TO BECOMING UNRAVELLED AND EXPOSED, BUT NO ONE WANTS TO TALK ABOUT IT.WE ARE ALL TO PREOCCUPIED WITH THE NEW FORM OF MONICA LOWINSKY(EXCUSE SPELLING),I think you know the mental framework and physical stature of who I’m speaking of.That Joanna Six Pack Queen.PLEASE!!!–THIS IS ALL DIVERSIONARY DRAMA AT IT’S WORST.WAKE UP AMERICA!!-YOU HAVE OFFICIALLY BEEN HIJACKED AND NOW BEING HELD HOSTAGE BY THE REAL TERROISTS!!-THEY CURRENTLY RESIDE IN WASHINGTON AND MAKE ALL THE RULES YOU’RE CURRENTLY SUBJECTED TO.THIS IS MY GIFT TO HUMANITY.TAKE IT OR LEAVE IT!! Just a fearless friendly,concerned citizen tired of being insulted by a group of white collar pimps,thieves and hustlers who hide under the guise of PUBLIC SERVANTS.