Wednesday, October 1, 2008

Tarp Over Pile of Shit...The Wall Street Bailout

At least there is one proper labeling in all this...in both the House and Senate, Troubled Asset Relief Program, or TARP is so apropos...let's just cover up all this SHIT with a tarp for 5-10 years until everyone forgets about this mess, then we'll sell this crap on the sly to the UBER rich as rental properties.

Meanwhile, to make this deal more palatable to Main Street America, the Senate has tossed in a few bones for us POOR FOLK. Gee, HOW NICE. You still have not put in anything that saves our homes, you have not put anything in the bill that would restore OUR LOST HOME EQUITY. Instead, all the bill does is Bailout Wall Street, and maybe restore the flow of credit...uhhh, isn't that what GOT US INTO THIS MESS to begin with? Maybe it is time for us to live for awhile without an endless line of credit. Finally, another paragraph I have problems with that gives the Secretary of the Treasury with ABSOLUTE IMPUNITY...in short, he gets to PLAY GOD OF OUR ECONOMY.

(1) AUTHORITY.—The Secretary is authorized to establish the Troubled Asset Relief Program (or‘‘TARP’’) to purchase, and to make and fund commitments to purchase, troubled assets from any financial institution, on such terms and conditions as are determined by the Secretary, and in accordance with this Act and the policies and procedures developed and published by the Secretary.

MEANWHILE, Senator Reid is trying to SCARE US into accepting this bill by dropping hints that a MAJOR insurance company is on the VERGE OF BANKRUPCY...hmmmm...another AIG bailout on the way? Any one care to take a guess on what Insurance Company it is? Prudential? Mutual of Omaha? Travelers? Do we, or should we really care?

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