I am earning next to nothing on my savings, my retirement funds have dramatically turned south and each and every day I am hammered with bad news regarding the financial crisis amid stories of Wall Street Wizards purchasing new multi-million dollar properties and new jets.
And I want to know who is responsible for this financial catastrophe! I see a great deal of motion, but little or no action on the regulatory front as the hyper-partisan democrat-led investigatory committees try to pin the debacle on the Bush Administration as if they, the democrats, were not in charge of most of the legislative process in the House of Representatives.
So let’s run down my little list …
1. The present financial crisis is one of trust – that is, we are being told that those who do business with financial institutions do not trust their own balance sheets because they cannot correctly value their assets which include so-called toxic paper and they do not trust the balance sheets of others for the same reason. We are being told that business is not investing or lending because there is a need to conserve capital as reserves against losses which may arise from toxic investments or simply because the asset value of the enterprise is shrinking dramatically.
2. The media, with its left-leaning tilt and overwhelming support for a relative unknown socialistic candidate who has hidden much of his background from public scrutiny has hammered the American public – day in and day out – with news of this financial catastrophe without providing the entire story or making the story a political one.
3. The Federal Reserve is shoveling tons of money into the banking system while they attempt to stem the loss of jobs and counter inflation which they claim is moderate and expected to resolve itself over time.
4. The Treasury Department has received an authorization to further loot the public purse and shovel money into those institutions which appeared complicit in the collapse.
5. President Bush appears about as involved as he has been for the last eight years … apparently unworried and unengaged. Perhaps he is on pre-winter vacation and we just aren’t being told. A stunning lack of leadership by someone who allegedly possesses a Harvard MBA. Perhaps we can attach Harvard’s billion dollar trust fund as payback for putting MBAs like President Bush into the business world.
6. It seems that the only people who are making money are the lefties like Al Gore who are busy peddling their own global warming scheme to extort money out of the government in the form of grants, subsidies and tax allowances.
7. I do not see American Business or the American people withdrawing their funds from the national banks who were complicit in screwing over the American people and placing their funds in strong regional banks which have traditionally stood the test of time and refused to make ill-advised investments.
8. I do not see the American people demanding that corrupt politicians and those who have imprudently transferred money to special interest projects be recalled or drummed out of office – or alternatively, charged with crimes for the misuse of taxpayer’s dollars on their junkets and other hidden expenses.
9. But most of all, I do not see people going to jail for what is arguably the second greatest financial debacle of our nation’s history; the first being the great depression.
10. And I do not see the public outcry over Representative Barney Frank and Christopher Dodd, both of who have been severely compromised. Frank with his gay lover at Fannie Mae and Dodd with his “friend of Angelo” mortgage from Countrywide.
We know who was responsible, why are we using them to fix the problem they created?
We know who made all of the money creating and marketing toxic investments. We know which politicians failed to maintain oversight. We know which attorneys and accountants enabled these institutions to fail. And yet, we do nothing. In fact, we re-elect and appoint some of these very same people to help manage the bailout process.
President Bush missing in action?
We claim that the President is a cowboy – well maybe a non-horse, pickup truck/mountain bike cowboy who summers in Maine – and yet he exerts no leadership. I do not question the military actions of our Generals, Petraeus and Odierno, but I do question why we are not forcing the Iraq government to pay a higher price for its own defense. To use its oil assets to help ease the energy crisis on our domestic front. Why we are handing out billions of the taxpayer’s dollars to purchase “relative” peace in the world. Often handing out “humanitarian” aid to our sworn enemies who use it to strengthen their regimes and pay off their friends. The people get zip!
Is Greenspan capitalizing on the mess he made?
We claim that our Federal Reserve Chairmen are all-knowing, wise and powerful, or at least, powerful. Where is the plan from Federal Reserve Chairman Bernanke or his predecessor Alan Greenspan. Greenspan who couldn’t utter a coherent sentence while serving at the Fed and who can speak clearly in declarative sentences now that he making paid speeches and allegedly advising the short sellers how to capitalize on downward-spiraling market he helped to create? Although some would claim that he singlehandedly created the conditions which led to this present fiscal crisis.
Where is the Paulson plan?
Where is Paulson’s plan – not three pages of schoolboy notes. I recently read a plan for “Containing System Risk: The Road to Reform” that was submitted to Treasury Secretary Paulson, yet it wasn’t included in the bailout legislation.
Beginning of the end?
Are we experiencing the beginning of the end. Where our government, intentionally or unintentionally, has placed us into a crisis and that the next step would be to form the long-rumored North American Union or SPP – the Security and Prosperity Partnership of North America?
A socialistic ruse?
Or is this simply a gigantic far left-generated ruse to ensure that the next leader of the free-world is an easily managed politician who can be manipulated by larger forces into doing the unthinkable: turning the United States into the socialistic Peoples Republic of the United States.
Where is the leadership?
When are we going to see a leader emerge – a leader who does not use press releases to announce that they have a plan – but puts the plan on the table and challenges everyone to make it better?
Any why is the law-abiding, prudent taxpayer taking the flack?
And what about the ordinary citizen who played by the rules. Minimized their debt, paid their bills, put money into savings and retirement? The people who make this nation great. Where is their bailout?
What can YOU do?
Protect yourself and your family.
Consider that our national defense requires a strong economy. The 9/11 terrorists attacked the World Trade Center and the greed merchants of Wall Street and their paid politicians finished the task.
Vote for someone who appears to be able to make a difference rather than spout platitudes on change. It might be a difficult choice, but consider: national defense, illegal immigration, our economy and healthcare.
Demand that some measure of restitution be required by those who continue to work in the financial arena if they were complicit in creating or marketing the toxic paper which has crippled this nation.
Quote of the day: “Committee--a group of men who individually can do nothing but as a group decide that nothing can be done.” - Fred Allen
A reminder from OneCitizenSpeaking.com: a large improvement can result from a small change…
The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. -- Marcus Aurelius
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“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw
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“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius “A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell “Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar “Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS
"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell
“Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar
“Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS