Bush's Bogus Bailout »
Posted by: populist 11 months, 3 weeks agoIn the current scheme, every time a corporate player commits fraud he gets to keep the profits, and borrowers have to pay an inflation tax as a result. Eventually, this results in the fraudsters owning more and more of the nation and world economy until they own it all. Money is simply printed out of thin air to bail them out.
Read Full Story at populistamerica.com
Join the Discussion 
+ Add Comment
Comments So Far: 48
-
-
-
0%
LordyLordy11 months, 3 weeks ago
The first thing I should say is this is not Bush's bailout. It was something brought to him by your representatives and your tax dollars. I agree though, it's a scam, and both Democrats and Republicans, and mainly the rich are profiting from it.
If you have an A.R.M. loan on your house or property, you need to go find another lender now, even if it costs you $2000 out of pocket.
Whoever thought of the A.R.M. loan ought to have been taken out and shot. It is a GREAT deal for the bank or lender but a LOUSY deal for the consumer. Anytime the lender or bank wants to up your interest rate they will. Do you believe it will ever go back down, even if interest rates do? Laughs. That isn't going to happen. GREED is GREED. Once they have raised your interest rate to the point where you can no longer afford to make the payment, you default, they sell your property, and the bank gets their money first. They will never loan you what they cannot get out of your house. They never lose.
Reply -
0%
wallyone11 months, 3 weeks ago
although everyone laughed at ross perot when he ran for president.. he wanted to remove the lobbyists and institute some of the suggestions in studies we have paid millions to have done and then subsequently shelved.. in my humble opinion america made a mistake by making him out to be a joke.. some of the best hopefuls have been vilified or made fun of like michael dukakis.. america has buried some of their best hopefuls.. hopefully we are not about to do that again.. if rudy gets in over ron paul i'm moving to vietnam.
Reply
-
-
-
0%
populist11 months, 3 weeks ago
that seems to happen quite a bit. the airlines, for example, have received billions in bailout money. I say - if they don't run their business right, let them fail. some other entrepreneur will come in a figure out how to do it right.
But, the federal government seems to like propping up cheats, cons and failures...
Reply
-
-
-
0%
LordyLordy11 months, 3 weeks ago
Bend over...give the nice man behind the counter your credit card. Please don't take notice he or she is copying it. Act as if nothing is wrong....Simply give it up. Thank you...
Everything is global now or so it would seem. You call up for service support and someone speaking English but with a foreign accent answers the phone. It's called outsourcing and even the IRS wants to do it, to audit your tax returns? You like the idea of someone in Pakistan or India having access to your social security number and personal information? Yeah...we're being taken to the cleaners. It's both Democrats and Republicans doing it...its greed.
Reply
-
-
-
0%
Radiofreeeuropa11 months, 3 weeks ago
My skull blows off reading this, of course it's what I've been saying all along as my friends here know. Despicable behavior that Jefferson warned us about all those years ago.
Reply -
0%
Obaku11 months, 3 weeks ago
Helicopter Ben is living up to his word.
$20 billion of 'liquidity' was 'injected' into some unnamed orifice of the economy just today, and ol' Ben didn't even kiss us first!
Yesterday, Bush said "But it's not the government's job to bail out speculators or those who made the decision to buy a home they couldn't afford."
Today: "The New York Fed added 7.0 billion dollars in 14-day repurchase agreements, 16 billion in seven-day repurchase agreements and 8.25 billion in one-day repos.
The Fed has injected some 200 billion dollars into the financial system since August 9 in a bid to boost credit flows which have seized up due to problems linked to the distressed US mortgage market.
The US central bank typically buys billions of dollars worth of securities from major banks, pumping extra cash into the banking system, which the banks are obliged to repurchase at a later date."
http://www.breitbart.com/article.php?id=0709061...
Reply -
-
0%
AntiNeoCon11 months, 3 weeks ago
Well the rich are going to have their own problems if we continue to go into this recession. I hear them crying about the real estate market and other investments that are in a slump. The horrors of 1929 are scaring them...back then it was the republican administrations failed policies too.
Reply-
-
0%
LordyLordy11 months, 3 weeks ago
The fall doesn't hurt them when they leap off tall buildings, it's that sudden stop at the bottom.
Some simply say they were practicing being Superman and got caught up in the moment. It was right after smoking one of those funny looking cigarettes or inhaling that stuff from those glass pipes that the stores sell for tobacco? Anyone who believes that still put their missing teeth in a jar hoping for a quarter?
Reply
-
-
-
0%
Shadowolf11 months, 3 weeks ago
Is there any way to find out how many Congress-Critters HAVEN'T been bought???
Reply -
0%
DarkWizard11 months, 3 weeks ago
The sooner we come to grips with the reality of the situation the quicker we will be able to deal with the enormity of the problem.
"Banking establishments are more dangerous than standing armies."
Thomas Jefferson
Our government is playing a dangerous game of merry-go-round with money. It has to do with the principle that as long as money is changing hands then cash flow can be shown. What it doesn't say is whose hands the cash is going through and what is happening to force that cash to flow.
Reply -
0%
DarkWizard11 months, 3 weeks ago
We then compound the problem by printing more money, but have nothing of value to back it. This decreases the value of the dollar and more has to be printed to compensate.
This is all caused by big business running the government and dictating to them what to do instead of the government regulating bad business practices and policies.
Every time the Republicans deregulated corporate powers prices skyrocket. Every time! Look at the quarterly "record" profits of the richest oil companies. The numbers don't lie. Look at real estate. Even with all the crying about people not being able to afford their homes, the prime lending rate increasing, and foreclosures going through the roof there are STILL new homes being built and land being developed! Someone is making a profit.
Big business cannot be allowed to run the government and the government cannot allow big business to go unregulated. Very simple formula.
Reply-
-
0%
JackofallChems11 months, 3 weeks ago
Not too bad of an analysis, except that it's too convoluted to be a useful perspective for making public policy, and it doesn't really explain what role money is actually supposed to play in a properly functioning economy. In other words, you're reasoning comes from standard economic terminology - which is either meant to be half-truths mixed with gibberish, or that's what it wound up being because of shoddy research by economists. Try this as a substitute: work is energy (physics definition), and it's a real pain in the tushie to do if you're doing it when it's not your preferred hobby (common definition). Work that's results in something worthwhile to someone else can be traded, especially for things that you can't live without and can't take care of while getting that other work done (you can't have a blacksmith without having a farmer trade food for shaped metal).
Reply-
0%
JackofallChems11 months, 3 weeks ago
Work that results in something worthwhile to others can be traded for the resources needed to continue and expand such work (blacksmith can trade for more raw iron, farmer can trade food for new livestock, etc.), and doing so with straight barter is inefficient (you can't make spare change for a cow if all you want to trade for is 3 chickens). Currency is an inefficient storage device for worthwhile work that people do, because it allows people to trade in fractional amounts of big items (1/2 a cow), however it doesn't store work that isn't traded (weird hobbies, making one's own breakfast, typical housewife activities, etc.), and not all types of currency doesn't store the work/energy forever or securely (theft, inflation, shipwreak). This is the setup phase of the analysis. Now throw in the concept that raw materials that are converted by people's labor are worth significantly more to others than the sum of the materials and labor combined, and you get...
Reply
-
-
-
MichaelRhodenteComment removed: User banned.4 Replies
-
0%
DarkWizard11 months, 3 weeks ago
"In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist."
Dwight D. Eisenhower
"Don't forget what I discovered that over ninety percent of all national deficits from 1921 to 1939 were caused by payments for past, present, and future wars."
Franklin D. Roosevelt
"The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes strong than their democratic state itself. That, in its essence, is fascism - ownership of government by an individual, by a group, or any controlling private power."
Franklin D. Roosevelt
"True individual freedom cannot exist without economic security and independence. People who are hungry and out of a job are the stuff of which dictatorships are made."
Franklin D. Roosevelt
Reply -
-
0%
Lurch11 months, 3 weeks ago
It ain`t Bush pulling these strings.
The so-called Federal Reserve Bank is not part of the government. The banks and elite behind the creation of the Fed and who now own it made sure of that.
Private companies and individuals, many of whom are foreign, control the levers of our economy and hence the value of our money.
Even if Bush had the ability to understand the mechanisms that steer our economy, he wouldn`t have the ability to change it. Not enough time left in his admin to fix it.
Reply
-
-
0%
Truzseeker11 months, 3 weeks ago
Disgusting, and if you or I tried to skim pennies from economy where do you think we would end up ?
Reply -
0%
quackpot11 months, 3 weeks ago
One of the prime loan sharks of the sub-prime industry is Bush's friend R. Arnall.
If you think Bush cares about the common folk rather than scum like Arnall, think again. Bush appointed Arnall to be Ambassador to the Netherlands.
Arnall's company, Ameriquest has so far pair over $325 million to settle law suits stemming from it's lending practices.
Reply -
0%
B737Tech11 months, 3 weeks ago
As far as Bush is concerned helps the "haves" gain more is ok by him. Illegal? So what??
Reply -
0%
wallyone11 months, 3 weeks ago
sometimes i think it is hopeless to try and reason with those cannot see the wall america is heading towards. so typical, they seem to be ok hence everyone else must be ok.. if they are not it must be their own fault.. nothing at all to do with the illegal actions of the government, no sir, nothing at all..
Reply -
0%
rtew198111 months, 3 weeks ago
BUSH IS A BILLIONAIRE B/C OF THE WAR. I USED TO SUPPORT HIM, BUT AFTER LEARNING THE TRUTH ABOUT HIM AND HIS HUNGER FOR MONEY AND POWER I BEG TO DIFFER. PLEASE CHECK OUT THE FOLLOWING VIDEO THAT SHOWS PROOF THAT BUSH IS BEHIND 911
http://video.google.com/videoplay?docid=-652981...
Reply-
-
0%
LordyLordy11 months, 3 weeks ago
I agree, the far left liberal conspiracy is taking them with their PR and SPIN and they're falling for it, like Lemings over that cliff.
While they've been sucked into the "hate Bush campaign" their own comrads are draining their accounts, raising their taxes, and giving away the money to people who won't work, not can't work.
I'm convinced that if we'd refuse to listen to the left or the far right SPIN and PR and vote for what WE KNOW is the truth, not what someone wants us to believe is the truth, we'd elect statesmen in this country, not politicians. But having said that, I think with this climate that might be as possible as watching your pig fly.
Some of the candidates I see in 2008, if they were on fire I would not walk across the street to spit or pee on them to help them put out the fire....and I don't just mean the left either. We need more guys like Ross Perot or Barry Goldwater. Nobody with any sand has the money to run?
Reply
-
-
-
0%
Dave5911 months, 3 weeks ago
Basically this allows those in default to keep paying. This some what insures the loan company that lent on this risky venture to keep collecting. It's not a lot of hope for the home owner but it does bode well for the finance company.
Sadly enough some of these people are in deeper trouble due to the credit card living life style. Why do you think they had to use this type of loan to start with?
They bought something they could not afford and hoped to "Flip" it before the payment was due. Now the "flip" isn't working and they are stuck with the mortgage payment.
If they default the lenders are going to eat it. Hence Mr. Bush's bail out.
Where I live it looks like it's already too late, the default rate in Las Vegas is one of the highest in the nation.
It looks like Bush is trying to keep his buddy's butt solvent. It also looks like the "flip" crowd will have to go it alone.
I'm guessing they both screwed up.
Reply -
0%
WhatstheRush11 months, 3 weeks ago
Hey...Wasn't his old man involved in bailing out the Savings & Loan guys? Wasn't one of the Bush kids involved in that, too?
Man, these neocons really know how to f*ck the taxpayers. Got to give 'em credit for doin' a good job.
Reply -
Submitted By:
populist
The essays we offer are unapologetically presented for you to read & analyze. Many are offered as a similar view to ours & others simply to invite ...
Also submitted:
- 1.0 - It's not a right; it's theft, plain and simple.
- 1.0 - When Desertion is a Duty
- 1.0 - Do You Really Need a License to Arrange Furniture?
- 1.0 - Why I Will Not Vote For a President in 2008
Related Articles:
Why not submit a story?
Also Propping This Article
Groups Watching This
No groups are watching this story. Why not share it with your group?
