Isn’t it convenient that Treasury Secretary Henry Paulson is the former CEO of Goldmans Sachs Group. Which along with Morgan Stanley, are set to benefit the most from the $700 Billion “Bail Out“.
not to Mention the recent acceptance of Morgan Stanley and Goldman as commercial bank subsidiaries, that are now set up to receive deposits, and gives them the same access as other commercial banks to the Fed’s emergency loan program.
But Robert J. Ellis, a senior vice president at Celent, a financial-services research firm, said he wouldn’t be surprised if the firms each struck a deal “within weeks” to merge with a bank, in an effort to quickly build their deposit base.
Ron Paul has criticized the government for their bail out plan, and lays out a brilliant summary of what has gotten us into this mess here. We don’t need more government intervention, it will only lead to greater instability and push us closer to the edge.
Chris Dodd, of course doesn’t mind if the government passes the bail out, as long as government has control over the companies they bail out. The Government already took control of Fannie and Freddy earlier this month.
The New York Times even calls this bail out the “financial equivalent of the Patriot Act.” It is nothing more then a power grab. This whole financial melt down has been planned and executed to perfection. There have been dozens if not hundreds of financial experts in the last decade that have warned us of this. It is a huge shift of power to the executive branch.
Adam Davidson of NPR blogs about the so-called bailout bill as follows:
I would guess that this has to be one of the biggest peacetime transfers of power from Congress to the Administration in history. (Anyone know?). Certainly one of the most concise.
The Wall Street Journal, in an article titled “The New World Order: More Banks Will Need Capital Infusions”says
that the government acted to save investment banks that were so interconnected with other banks that their failures would have endangered the system, and the way the new system is shaking out, banks will be more interconnected with their financial partners than ever.
“a genuine ownership society,”
By giving taxpayers a stake in the companies the government will be saving with its proposed $700 billion package. Kucinich wants to set up the “United States Mutual Trust Fund” to convert assets purchased by the government into shares that would be distributed to every man, woman and child in the country. Every American would receive about $2,300 worth of shares because that is the cost of the bailout package to each individual. Of course this plan is not being talked about.
So the Bail out, if it was passed right now, would give Ben Bernanke, the head of the federal reserve. Which does NOT work for the United States government. They are a private business that is in the profits industry. Along with Henry Paulson the complete control over who gets the $700 Billion, and what they buy with it. They could easily use the money to buy as much gold as they can to try and stabilize the markets. Of course that sounds like a good thing, but then you realize, we “The Tax Payers”, are paying for the federal reserve to buy real gold.
So they get the real assets, and we get the bill!
This sounds a lot like the Untied States taking a big leap into Fascism. I know when people hear that word they automatically think or Nazi Germany, and denounce that anything like that could happen here. But a simple definition for Fascism is simply when the decision of the government are made to accommodate the best interest of corporations instead of the people.
FascismA system of government marked by centralization of authority under a dictator, stringent socioeconomic controls, suppression of the opposition through terror and censorship, and typically a policy of belligerent nationalism and racism.
Don’t forget their motto, “Order out of Chaos”