October 1st, 2008
Most people didn't notice this, what with all the noise in Congress about the bailout, but last week the Fed extended another 630 Billion in credits to failing Investment banks. That will have to be repaid with Treasury Notes by the American taxpayer. If you add that 630 Billion to our obligations incurred in the deals with Fannie Mae and Freddia Mac, Bear Stearns, AIG, etc. we are already out at least 1.2 Trillion dollars.
So the 700 Billion deal was at least partly a smokescreen to keep the public´s attention off what Bernanke was doing quietly at the other end of Pennsylvania Avenue while the press was covering the agitation in the Capitol Building. You would think that with a Trillion point two in their checkbooks that Bernanke and Paulson might have the courteesy to at least wait a bit before asking for more. You would think wrong.
Hank and Ben, along with the White House and Congressional leadership are still after the 700 Billion. The Senate voted to steal this amount from you and I today. Tomorrow pressure will be applied to the House members to pass this robbery. God give them the strength to stand firm.
But if they do stand firm, John McCain has the solution. Please watch the video to see incredible importance that John McCain places on the voters, that is the taxpayers, demands:
So if John had his way, we would be way over two trillion dollars deeper in debt to try to re-inflate a bubble that made a few men and women obscenely rich and damaged our financial markets. At the same time Mr. Obama is urging the House to pass the bill robbing you of the 700 Billion. He says "we cannot fail" to rip off the average guy.
For the sake of the next generation, please do not vote for either John McCain or Barack Obama. Let us close the Federal Reserve Bank and use the basket of currencies as suggested by Dr. Ron Paul. Let us all show our disdain for the corprorate politicians, by they Rs or Ds, by voting for a third party candidate.