Sunday, September 21, 2008

The Mother of all BAILOUTS

Minneapolis - The Bush Brain Trust has urged that Congress move quickly to approve the "mother of all bailouts", which is estimated at near 1 trillion dollars.
x
Contention over whether to bail out the mortgage debt of large financial institutions is heating up. House Speaker Nancy Pelosi insisted that the proposal "does not include the necessary safeguards" in reference to excessive executive compensation and protection for homeowners.
x
The bailout will include billions to large Wall Street financial firms to cover their speculative investments that went bad when the housing crisis hit. Some financial analysts are saying this will be the most expensive "bailout" in the history of the world.
x
The American Tax Payer stands to be straddled with this debt for generations to come. These people in Washington write checks as if it weren't their money, because it isn't, its yours. Some calculations have this adding a total of $3 trillion dollars to the $9 trillion dollar current deficit.
x
Years and years of propaganda designed to turn Americans into mindless Consumers who overspend, over-extend and live check to check is finally catching up to us. Our Leaders imitate our people. We are shamed in the media and in real life if we don't keep up, so we spend on credit just to keep up. Now we're broke. We need to stop spending, but we're all addicted and don't know how to live any differently.

No comments: