Thursday, October 02, 2008

What is that smell? Socialism!

Senate Comrades Pass Bailout Plan
Markets open with no added confidence in the economy

75-24, that is the Yes/No vote on the Bailout Bill that the Senate passed Wednesday night, sending a clear message to the House of Representatives that they must also pass this legislation. 700 billion dollars the government doesn't have and will have to borrow from foreign banks will be allocated to supposedly fix a problem that the government, not the market, created in the first place. That's right. It's as if we hired John Wayne Gacy to stop Jeffrey Dahmer.

The best example of this madness is Congresswoman Maxine Waters of California. In 2004 the Democrat made a statement in defense of Fannie Mae and Freddie Mac that is a clear indictment of her incompetence. "We do not have a crisis at Freddie Mac and particularly Fannie Mae under the outstanding leadership of Frank Raines," Waters said. She made these remarks at a congressional hearing called to investigate the illegal bookkeeping practices of Mae and Mac.

Today during an interview on Fox News she blamed a lack of oversight and the lending practices of financial institutions for the current crisis. If Waters and fellow Democrats such as New York congressman Gregory Meeks (D), who told the chairman of that hearing he was "pissed off" that they were even having the forum, would have confronted their heavy financial contributor Frank Raines, we would without a doubt not be in the financial predicament we are in today.

Now we are suppose to trust these incompetents to solve the problem they created. How can they resolve anything if they refuse to take responsibility for putting us in this situation?

Don't get me wrong I believe something must be done, but it isn't the current pork-filled resolution that is being shoved down our throat.

You may be asking how bad is this bill? I'll put to you this way. In what is suppose be a "rescue bill," the senators from Oregon got a provision attached that repeals an excise tax o
n wooden arrows. What does that have to do with anything?

Also receiving beneficial treatment from this disturbing piece of legislation are Hollywood producers, racetrack owners and makers of rum in the Virgin Islands. Did I mention there are government demands on health insurance companies as well?

Former Speaker of the House Newt Gingrich has been talking about common sense approaches all week. Change the accounting rules of the Sarbanes-Oxley Act would have a dramatic affect immediately, giving the markets a huge confidence booster overnight. Gingrich is not the only one who believes the incompetence of Sarbanes-Oxley bears great responsibility in conjunction with the criminal activities of Frank Raines and the biggest culprit being the Community Reinvestment Act, which you have read about in the pages of Paulies Point.

So once again we are back at square one. Government caused the problem, refuses to admit it, lies about the free market and scares everyone with the help of their media cohorts that only they can save us.

I never knew "save us" means pave the path to Socialism and economic ruin.



At 10/02/2008 12:39 PM , Anonymous Chad Everson said...

Great POST!

~Teddy Bear


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