IMO, this person broke it all down...Worth the read. Pass along to all you know.

And who was at the trough when the Resolution Trust company cleaned up the Lincoln Savings And Loan - why it was John McStain!

I just wanted to note that I keep hearing the talking heads say how the taxpayers will have to foot the bill for the bailout of these financial institutions, and I must disagree. Someone will pay, to be sure, but it won't be the taxpayers. It will be the people that rely on social services that don't make enough to ever pay taxes. No one in either party will raise taxes on taxpayers (OK, Obama will on the highest wage earners, but not enough to cover this mess). The money to pay for the bailout will come from the same place money always is found - school lunches, wheelchairs, that sort of thing.

-znutar

Don't forget your children and grandchildren, they're not getting out of shouldering their fair share of responsibility for this ... little pricks, think they can hide out in an ovary with their ill gotten profits and get off scott free.

website gone whacky today, eh?

I went to one of those resolution trust auctions after the S&L heist, lots of fine antiques, jewelry, all sorts of stuff.

Probably more than that. What we are talking about is the OPPORTUNITY COST of this bailout. Eisenhower said it well in relation to war, but he might as well have added debt to his thought:
Dwight Eisenhower

Back when estimates were that Bushco would ONLY raise the debt from the $5.5T when he entered office to $10B or maybe $11T (double), people were starting to remark that under those circumstances the interest payments on the debt would begin to rival the size of the defense allocation, which was the biggest slice of each tax $ - somewhere around 30 cents on each $1. When interest is negligible, that leaves 70 cents for other things our government is supposed to do for us. Like roads, schools, regulation, etc. But when the interest on the debt is comparable, then that only leaves 40 cents for those things. We should expect that to get much worse before better. Under those conditions, bridges will collapse, roads fall into disrepair, SS in jeopardy, etc. In the limit, taxes will go up, and all our children and grandchildren will get to work until Tax Freedom Day (currently around April 25) FOR NO BENEFIT TO THEMSELVES. They will be slaves until then.

But wait there is more! Since the federal government won't be helping with any version of socialized healthcare, education, retirement etc, that means that those same slaves will feel those extra expenses on their already non existentent discretionary income. The ends that won't meet today won't even be CLOSE very soon. Families will have to share homes, people will live on the streets, people will die sooner, badly. For any of you who have been through downsizings, this will be ten times worse.

All that because of the greed of the sociopaths and the CRIMINALS who actually designed for this to happen.

I am so extremely mad at what they did to our country. I hope they all get lynched. I'm a forgiving person but they have put us into years and years of problems. Why don't we take the money from them and pay it. The greedy mfs who benefited from this damn mess should pay.

Very salient points znutar. Welcome to the board.

Bush Banker Bailout Plan for Americans
$12 Trillion Deficit and it 'aint over yet !

I am sooo happy that all the banker boyz with their golden parachutes are finally landing safely.

I can't think of a better place for all my taxpayer $$$$ for the next 50 years

So the lesson is... bank boys,you messed up. We are going to take over your bad debts and give you some more money.If that fails we will give you more money,if that dosen't work we will give you more money,don't worry we will always give you more money,you just better never -never- never-never forget to give the kick backs on time

Okay, go after the Swiss bank accounts of Phil Gramm, Cheney, Bush, and the rest of the thieves who have plundered the treasury. Make them pay...

I wonder of the moron 30%'ers have figured out what a spectacular failure their idols are ?

Just approved $700billion is just a kick in the bucket. They have already spent $600billion since last year and see where we are today.

I've heard numbers upwards of $20trillion to soft land the wall street.

And who is going to pay. We all are. Not directly in taxes, but we are. Where is all this money going to come from? Federal Reserve will have to print money just as the Germans did after WWI.

Hey we need mind-numbing amount. If you print all this money out of thin air to cover the losses, it doesn't add valuation to our economy, it just dilute the valuation of dollar we already have. It's hyper-inflation. The good thing about it is that all that borrowed money is also devalued. It will be worth less. The downside is, all the money you hold also gets devalued. So hey that soon to be $12Trillion debt and counting will be worth only $1Trillion dollar in today's valuation. Well your saving is the actual cash you have stashed in your CDs, saving account, bank deposits... Ohhh and your social security. You thought when you retire, you were going to be getting $1000/month well that is going to be worth $100/month in real dollar after the hyper inflation. Soo WE WILL BE PAYING ONE WAY OR ANOTHER.

We may not be funding this through taxes but it will be funded through devaluation of your hard earned money.

Its not just the fat cats on wall street who should be hanged to dry. It should include all those who enabled all this voodoo economics. Unfortunately, this includes the fund manager who managed your 401k, pensions etc. and we all have money in there. The stock holders who were greedy...

smilingcat

They will believe this jerk, but not if we get the real truth out.

Transcript of a serial liar
http://blogs.wsj.com/washwire/2008/09/19/m...ancial-markets/

Rich people need poor people! How would they know they were rich!!!!!

aren't there are under developed 3rd world countries the Neocon Nazi's can exploit to save Wall Street ?

Sheeeesh what a failure of imagination. Bush wanted to bomb Iran and look what the Village Idiot got ?

I think this is the Grover Norquist plan to render the Federal Gov't so incredibly bankrupt and useless that you could drown it in his bathtub

Oh, that "other" thing. (That's secret. ) Don't let that one get out. It could destroy their plan.

This is the part that nobody seems to get. There is still the myth that the "Full Faith and Credit of the United States" is unlimited.

They pretend that the same concepts can be used talking about $20 TRILLION dollars that can be used talking about $20 Billion dollars.

There IS no such thing as $12 Trillion Dollars. It does not exist anywhere, and cannot be created. That is the quantity of production far beyond what can be extinguished by erasing debts. It is the equivalent of going twice the speed of light.

We can only change the REPRESENTATION of the thing, by changing the "Dollar" part of the phrase, in the same way that a space-ship can go 100,000,000 Million Miles per Second - if you change the definition of miles and/or seconds.

But there is an absolute constraint imposed by reality on certain of these events. The dollar may be inflatted to the point where $12 Trillion dollars can be matched to some sort of the fruits of production.

I happen to own a German piece of currency. It is denominated as ZWEI MILLIARD MARK. (Twenty billion marks.) Regrettably, it is not in a modern Bundesbank issue. If it were so, I would trade it for about $5 Billion Dollars, and retire. But it is now worth about five bucks, and that only as a collector's item. If you were to talk to the Kaiser back before WWII, he would sure say that ZWEI MILLIARD MARK was a profound amount of money.

Get ready to see it here.

ONE OF THE SIGNS OF THE END: Wait for the US Treasury to re-issue the $500 and $1000 bills. They haven't been in circulation for seventy years. WHEN THEY COME BACK, WATCH OUT.

This is the key part:


Who the fuck hired the private FED as a whole?

The American people sure as fuck didn't ask to be paying interest on their own money.

We should eliminate the FED like YESTERDAY.

Bankers fuck us, and you think other bankers are gonna get you out of it? Nah. FUCK the bankers.

Yep. Food for thought, though...how would that work with the Central Bank / worldwide financial infrastructure. That is something that I am having a hard time wrapping my head around. Thoughts?