Friday, September 19, 2008

Paulson Gives Banks An Enima; You Get Screwed

Oy vey.

You thought you were getting screwed paying for a two-trillion dollar war in Iraq?

Well, hold on to your butt cheeks. Paulson's got another trillion dollars shove up our collective behinds.

Using all kinds of hydraulic metaphors - saying we've got to "purge" the banking system of assets that are "clogging" the system - Paulson promises to clean out the nasty waste matter.

Who's doing the cleaning? You are. So get your rotor rooter ready, my friend.

I'm no economic genius, but let me just ask this one question. Why are we giving a trillion dollars to fat-cat Wall Street bankers (Fuld, the CEO of Lehman Brothers, made 45 milion last year running his company into the ground), and nothing for homeowners struggling to pay their mortgage or watching the value of their houses plummet as foreclosures haunt their neighborhoods, if falling home prices are the root of the problem, as Paulson explains?

Why is Nancy Pelosi going along with this plan?

If we can rescue the system by rescuing the banks who created all kinds of impenetrable mortgage-backed assets in order to make millions off homeowners, why can't we rescue the homeowners who got fleeced in all of this? Sure, some homeowners took out mortgages too big for them. What about the rest of us who are seeing our biggest asset - our house - plummet?

And on top of it all: where is George "Herbert Hoover" Bush? Is he reading "My Pet Goat" again?

And McCain wants to castigate Obama for possibly taxing the fat-cats that Paulson is giving a trillion dollars to. Yeah, that's right, McCain. Not only should people like Mr Fuld make 45 million and ruin our economy to the tune of one trillion, they shouldn't have to pay any taxes on it, either.

Do you want to know who looks the best in all of this? Hillary Clinton. It was Clinton who back in March came out with a detailed plan to aggressively help homeowners stay in their homes and stabilize home prices. Think we'd be in this mess today if Clinton's plan had been enacted in March? I really don't think so.

Maybe Obama will make her Secretary of the Treasury.

I always knew Republicans wanted to fleece America for all it was worth. I just didn't think they'd be able to do it so dramatically, and with help from Nancy Pelosi, Charlie Schumer, and Barney Frank. I can only hope the Democrats force Paulson to give some of that money back to the people who are footing the bill for this colossal disaster: the taxpayers.

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