Administration Is Seeking $700 Billion for Wall Street
What was that again?
Yes, the worst Administration in US history is now asking for 700 BILLION DOLLARS TO BAIL OUT WALL STREET1
The proposal, not quite three pages long, was stunning for its stark simplicity. It would raise the national debt ceiling to $11.3 trillion. And it would place no restrictions on the administration other than requiring semiannual reports to Congress, granting the Treasury secretary unprecedented power to buy and resell mortgage debt.
And by way of excuse, Bush says
“I will tell our citizens and continue to remind them that the risk of doing nothing far outweighs the risk of the package, and that, over time, we’re going to get a lot of the money back.”
Yeah, right. I'm sure. And this means we can watch the dollar come tumbling down, not to mention the potential for admission of wrongdoing by greedy speculators, let alone the neocons for pushing rampant speculation as the ultimate moral high ground. Didn't we hear that government was the Great Satan?
So how come we now have to pray to the Great Satan to bail out those Wall Street angels who were there saving us from government and its evil democratic regulations?
Democratic leaders have pledged to approve a bill but say it must also include tangible help for ordinary Americans in the form of an economic stimulus package.
Yes, let's give the taxpayers a rebate too. The winner in all this? The people who profit from materials provided to the US mint? Money engravers? Doesn't this whole thing smack of counterfeiting somehow?
Did somebody say it's because of deregulation? Or maybe because of the trillions going to the War Without End Amen? Whatever it is, it's courtesy of the Grand Ole Party, inherited by the forked-tongue-speaking John McCain.