Friday :: Oct 31, 2008

Such Intense Scrutiny for Little People Help


by paradox

Congress –rightfully so—is under a lot of pressure to come up with an aid package for homeowners about to default on their mortgages since they heaved a vast fortune of $125 billion at the banking industry this quarter. One instantly notices there are four competing plans at Treasury, all are subject to lengthy what-if scenarios of serious policy implications, and the reaction from the Republican White House yesterday was a real gem:

“If we find one that we think strikes the right notes and could meet all of those standards that we want to protect taxpayers, make sure that it’s also fair and that it would actually have an impact, then we would move forward and we would announce it,” spokeswoman Dana Perino said.

It would have been very nice to have such wise prudence in the craniums of our public officials when it was time to bail out the banks, but of course that would never do, rich people needed help! It gets far worse than $125 billion in cash “loaned” with no controls whatsoever for banks, too, the deal Treasury worked out with AIG has turned out to be a rank horror show.

First it was a $75 billion loan, then it was $125 billion, of which they’ve currently burned through $90 billion. Treasury, finally facing the fact that of course AIG cooked their books and has been lying to them for weeks, is trying to get a look at their crooked books but knock me over, they’ve run into difficulties.

The internal auditor resigned and is now in seclusion, according to a former colleague.

I deeply sympathized with the good Tristero at Hullabaloo when he wrote that up, sputtering wtf! repeatedly. My reaction isn’t printable in any sense.

Sparing us all a supremely deserved ranting at those stealing charlatans at Treasury, what I will say is that this coddling and enabling of rich Republicans with no strings while the little people face all the questions and scenarios that should have preceded all this stupidity is going to stop. As long as I breathe nothing will stop me for fighting this gross perversion of our democracy and country so rich people catch all the breaks.

Hello? The United States was not set up to enable rich monied interests. DC is about to start beginning the process of learning that fact, god damn right.

paradox :: 7:24 AM :: Comments (3) :: Digg It!