Found this on one of the financial blogs, Agora Financial, “After blowing over $900 billion of taxpayers’ money trying to bail out the misfeasance on Wall Street, Paulson’s new plan is to spend a few trillion to buy all the garbage off of banks. As a taxpayer, what do I get for picking up the tab?“Since these Fed clowns have their hearts set on spending trillions of taxpayers’ dollars bailing out the bankers, why don't they just pay our mortgages off for us? That would reward their rich banker buddies, plus free up lots of cash for us consumers to buy more Chinese stuff we don't need. Hey, the banks could even raise our credit card limits in order to further enslave us. Seems like a win-win to me. But first, let's all go out and leverage our homes by 30 or 40 times their value. This could go on non-stop, right? Right? Isn't that right?”
Welcome to Bailout City.
(Click on bold headline for complete story)
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P.S. The one resounding question is… who is going to pay for all this stuff. Everyone keeps saying the taxpayers… Jon Stewart jokingly told the audience on The Daily Show the other night, “Congratulations, you now own an insurance company”… but is that really true? Where are my shares?
Following the enormous cost of this bailout for Wall Street’s most egregious violators of decorum, the federal government still has to figure out how to pay for a global war on an ethereal foe, rebuild the 100-year-old infrastructure of a continent-wide economy, fund the retirement of the largest cohort in the history of the U.S. population… and provide health care to them at a time when they’re living nearly 30 years longer than when the programs meant to pay for them were established.
“We can’t pay our bills now,” Sen. Kent Conrad, chairman of the Senate Budget Committee. These quesitons never make it to the floor at press conferences ... never get asked of the candidates for president or Congress. Where, we ask among a chorus of bystanders, is the outrage?
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