For many years, in the less fortunate countries around the world, a distinct leadership pattern has emerged. First the leader steals the elections and assumes dictatorial powers. As the word gets out about the elections being stolen and unrest appears in the streets, the leader declares martial law. Finally, when the leader can’t steal any more elections, he robs the Treasury blind and flees the country.
Point 1: It has been obvious to the American people for several years now that the 2000 and 2004 elections were stolen, and our Executive Branch has been assuming dictatorial powers piecemeal since it took office in 2001. Congress is too spineless to stop it, especially since the 9/11 Executive Orders that effectively declared martial law, and the anthrax letters mysteriously sent to those few who opposed the Executive Branch’s power grabs.
Point 2: The First Brigade Combat Team of the Third Division, a unit that has seen some of the worst house-to-house combat of the Iraq War, has been recalled and placed under the authority of the Pentagon’s Northern Command. The public has been told they are here to assist in the event of terrorist attack. The Army Times, however, says that they are here to deal with civil unrest and crowd control. Interesting. Is this an early step in the preparation for martial law? It certainly looks that way. A few thousand soldiers, of course, will not be nearly enough, but they do form a nice training cadre for future recalls. It’s pretty much an open secret that martial law was already a part of the emergency order declared immediately subsequent to 9/11. It already exists – it just isn’t visible yet. This is partly why Congress is too frightened to do very much about an administration that has literally run amok. The other reason, of course, is that the last time someone seriously opposed the administration, they were sent anthrax letters that came from one of our own bioweapons labs.
Point 3: The bailout plan is a plan clearly designed to loot the U.S. Treasury. And President Bush owns a very nice ranch in Paraguay.
The picture here is now complete. We now join the ranks of third world countries. We can stop it, however, right here and now. We only need to understand a few simple principles.
Each of our two major political parties is stating that the other is the cause of the current crisis. The Democrats are claiming that the Republican lack of regulation caused this mess. The Republicans are claiming that too much regulation caused it, and that more will only deepen the crisis. They are both half right. It was indeed lack of regulation that allowed our banks to institute some pretty awful practices. However, the bailout now would protect those same banks from the consequences of their actions, and it would send entirely the wrong message for the future to Wall Street. Capitalism is working as it should, even as I write this. You just have to have enough knowledge to see it happening. We must not protect criminals.
The cause of our crisis is simple. To increase their bottom lines, a number of mortgage banks enticed millions of American citizens to take on sliding interest scale mortgages they would not be able to afford within a very few years. Make no mistake, the banks knew what they were doing, and the people who signed onto the mortgages certainly should have known. As the interest rates – and the payments – went up on these homes, Americans found themselves owing far more than their homes were worth and started going into default. Meanwhile, the banks in question cooked their books – and those who bought up the mortgage debt cooked their books also – to reflect value in these notes that they knew all along were never going to be paid.
This is not rocket science. It’s a painful lesson, but these banks committed immoral, if not actually illegal, acts, and they definitely should go down. I am deeply sorry for the citizens who lost and are now losing their homes, but they are somewhat at fault, too. They should have researched what they could afford far more carefully.
The only way in which the government could step in and improve the situation at all for the individual American is to possibly mandate the forgiveness of these individual mortgage debts. Mind you, the actual homes are still forfeit – they can and must be sold to recoup what can be recouped from all this bad debt – but if the default can merely be wiped off the individuals’ credit ratings, they can buy again – and perhaps they will be wise enough to buy something they can actually afford this time.
To steal taxpayers’ money and use it to prop up institutions that have deliberately defrauded Americans – and then cooked their books in order to survive the consequences of their actions – is so totally unacceptable as to be laughable, and we absolutely should not do it. Any Congress critter that even considers voting “yea” on such a proposition should know, in their heart of hearts, that come their next election day, they will be unemployed, unemployable, and living under a bridge – which is right where they belong.
You see, among its other noxious provisions, this bill proposes actually printing the money to pay for the bailout, which will immediately devalue the dollar by about twenty percent. The cost of an imported vehicle – at present the only vehicles that don’t kill you at the gas pump, will go up by 20-30 percent. In addition, this reduces the actual buying power of your income right here at home. It takes gas right out of your car, and food right off of your table. Furthermore, the federal government will then have the power, as well as the perceived right, to regulate the small business completely out of existence, leaving businesses large enough to be traded on Wall Street the only businesses to survive. Millions of jobs will be lost. This is economic treason, and folks sophisticated enough to be in Congress in the first place should already know this.
Don’t be fooled by provisions added to “help the taxpayer to profit” from the bad debt that the federal government will purchase on your behalf. That debt is already gone, written down, and it will never be collected. This is merely smoke and mirrors to convince you that the bailout will be a good thing. Our leaders are attempting to cynically play on individual greed to get their way and save their own Wall Street investments. Well, anyone who watches the news about the financial crisis should realize that greed has very real eventual consequences. We should allow those consequences to happen, and send the right message to Wall Street instead of the wrong one. The message that should be sent is that an honest profit is a good thing – but a dishonest profit will bring you down.
The failure of the initial bailout bill was brought about by the thousands and thousands of angry phone calls made by countless thousands of Americans to Congress. It is reported in several places that the feelings were running 300 to 1 anti-bailout and actively enraged. This is the only language that Congress understands, and we absolutely must keep up the pressure, even in the face of the Administration using blatant scare tactics to convince us that government intervention is necessary. It is not. A bunch of banks will collapse, yes – but they will be the ones who participated in creating this crisis. We can rebuild our economy literally tomorrow.
It is certain, however, even to a brain dead moron, that propping up a failing economy with your money will prolong the misery for each and every one of us for ten years or more.
It might help if you remember that Henry Paulson himself owns $700 million in Goldman Sachs stock. All of our leaders are heavily invested in Wall Street. To protect that kind of money, will they lie to us to get us to support a handout to criminals? You tell me! It might be smart to check the level of Wall Street investments owned by anyone who publically supports this bill.
Necktie parties have a long and distinguished history in this country, but I do not advocate violence. Instead, the prospect of these men and women living cold and hungry under a bridge somewhere – exactly where they tried to put the rest of us – is more than good enough for me.