Randumb Thoughts
Updates when the spirit moves me...
Personal Commentary about current events and issues brought to you by
William C. Walker of WILW Radio.
March 18, 2009
The Great Heist...
Well, it has finally happened. The American Taxpayer has been subjected to the greatest fleecing of taxpayer dollars at the hands of DC and Corporate America in the history of this country. The “Bailout” if you want to call it that, is probably the single largest heist foisted upon the citizens of any country since the inception of the first monetary units in the Middle East and Mediterranean regions.
How on Earth could Congress give approval to a gift package such as this without stipulating the recipients of this grift would have to identify how, where and when this money was going to be spent? If either you or I applied for a sizable government loan or grant we’d have to clearly outline how the money was going to be spent in order to have a chance at gaining approval for this loan or grant.
And now this week, we learn that one of the biggest recipients of this money, AIG (American Insurance Group) has squandered in excess of 140 million dollars of this money on bonus money to corporate executives under the alleged guise that they had a legal binding contract to do so. Supposedly Connecticut Senator Chris Dodd is responsible for this because in a recent network news report it was said that Chris Dodd had a clause written into the original Bailout Bill exempting companies from being prohibited from spending the bailout money in this manner. All this has led to is a reckless lining of the personal pockets of a few corporate execudroids of not only AIG but likely some other large companies that are the Giftees of our money!
The biggest joke of all being perpetrated upon the citizens of United States of America by Washington and Corporate America is that the “Bailout” is going to turn around the economy and save several industries that are ready to flush down the toilet. In reality, this huge scam is sending the country onto the brink of the greatest Depression that we’ve ever seen, even dwarfing that of the last great Depression following the Stock Market Crash of October 1929 until the start of World War Two. Printing Trillions of dollars and handing it out to a number of companies to use it as they please, is leading to the devaluation of the American dollar. China has recently hinted that it will no longer buy American Treasury Bills if the value of the Dollar continues to decline because it will render their existing T Bills all but worthless. It is feasible, the American Dollar will have about as much value as the German Mark did during the Weimar Republic’s reign in Germany in the 1920’s.
If Washington had been truly interested or sincere about wanting to save the economy, the single, best way this could have been done, IF THEY HAD TO USE BAILOUT MONEY, is to literally hand out checks to every American Taxpayer to use as they see fit. Bloomberg News is reporting that over 9 Trillion Dollars are at risk of being spent in this scam! Imagine roughly 140 million people each receiving $71,428 to spend on mortgages, credit card debt, utility bills and on entertainment and leisure activities. That would be the equivalent of a Ten Trillion Dollar handout to corporate America! Now which “Bailout” do you think would have a more positive impact on our economy?
At the next election please be sure to throw out EVERY incumbent in the House of Representatives and Senate that voted IN FAVOR of these “Bailouts”. Please return to office any elected Senators and Representatives that DID NOT vote for this Scam!
