Extra Pork in the Bailout Bill

It’s unbelievable. The bail out bill started at 3 pages and now it’s passed at 450 pages. As Ron Paul says in the video, “take the original bailout bill, make it a lot worse and you get 57 congressmen switching from no to yes.”

Here’s a breakdown of all the extra “Pork” in the Bailout Bill, plus Ron Paul thoughts on it all.

And for once I found a comment on youtube that I thought was pretty good:

mischief1966: “CNN gives Ron Paul airtime NOW, but not while he was actually running for the presidential race..he predicted this economic downfall many, many years ago & no one listened !
The Fed. Reserve is nothing more than a bunch of money hungry crooks..we’re headed for a socialist society, we’re screwed no matter who gets in office ,they’re all corrupt!”

Wall Street Bailout Rejected

At least they did something right. These bankers who have been swindling the American people for so long are not going to get bailed out. All the bailout would have accomplished is to allow the banks to walk away debt-free (and play in other markets) while the American people took on the burden for their greed.

It appears Nancy Pelosi had something to do with this and finally she did her job. What concerns me is this little article saying that the federal reserve (private bank) pumped $630 billion into the financial system anyways. WTF. Check out this picture to feel my sentiment on this issue…

Wall Street Bailout

Jump You Fuckers

The New York Times Freakonomics Blog has a good article on the bailout. I fully agree with them tha this is a subsidy at the taxpayers expense. Decades of profits for the financial sector and guess who flips the bill when they suffer a loss.

“We see three fatal pitfalls in the currently proposed plan:

1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses. Not every business failure carries “systemic risk.” The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.”

Bailout = Bullshit

Here’s Ten Reasons to Oppose the Wall Street Bailout

Bank Error. Collect $700 Billion