Thursday, December 11, 2008

Wheres the money?

Just so were clear on all this let me see if I have it down.

The banking industry, suffering from a crisis of their own making, has been handed over a Trillion dollars so far. I don’t know if your paying attention, but every time the news refers to the Wall Street Bailout, they call it the 700 Billion dollar bailout. Well, that’s just bullshit. On the news each night for the last few months you hear that the government handed an additional 20 Billion to this company and 5 Billion to another one, but no one seems to be keeping track of how much has really gone out or where it is going.
Don’t take my word for it. The office of accountability just reported that so far, 150 Billion dollars couldn’t be accounted for.
Can’t be accounted for?
What the hell does that mean? It means it’s gone. Just like the Billions of dollars in cash that was shipped to Iraq, it’s just gone.

Meanwhile, the one industry that does make something in America can’t get a loan for 15 billion dollars.
Amazed yet?
Did you know the Treasury Secretary was the CEO of one of the banking companies that made this mess right before he was the Treasury Secretary? Did you know that legally we cannot ask where the money went or for what purpose it was used? Did you know that they told us it would be for distressed mortgages but right after we handed it to the Treasury Secretary he said, were not going to spend it on that?

The American Tax Payer just got fucked for more than 1 Trillion Dollars and the Government asked for nothing in writing. Nothing! We bought stock in banks whose stock has only continued to fall. Great! People are still loosing their homes but I guess they can take comfort in knowing that their new forced investment is tanking.
We could bailout the car industry 20 times over with what has already been stolen in bailing out the Billionaires! Sure, Detroit painted themselves into a corner by continuing to make over priced gas guzzling vehicles with low MPG, but if they go that’s it for whatever middle class, blue-collar families are left.

Have the oil companies’ loan the car companies the money needed. You can’t have one business without the other. The oil companies keep posting record profits so we know they have the money. Make them help.

Or, have the government announce that the first American company to make a quality car that gets 100MPG will get a few billion and some juicy tax breaks.

I wish someone with balls would stand up and asked what the hell is going on. What happened? Near as I can tell were getting fucked like six different ways all at once on this “deal!”

Socialism finally showed up in America, but it’s Socialism for the banking companies that so far have made the 1% of the wealthiest 1% even more dirty stinking rich while the average person in the other 99% are going broke. And please, don’t tell me people who couldn’t afford houses shouldn’t have bought them in the first place. You had the President giving speech after speech about the ownership society he wanted to create by getting low income and poor families into houses by reducing the regulations on the banks. The banks spent billions selling the American dream to anyone with a TV or a web site or a mailbox. Everyone was told they could own a home. Everyone! Now it’s the homeowners’ fault for believing the bullshit the banker who went through the paper work with them? I don’t think so.

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