Hey Main Street America...AIG WANTS MORE OF YOUR MONEY

In a story that MAJOR PRESS here in America is not covering (wonder why?) seems that AIG of BAILOUT FAME is seeking additional Bailout funds in their THIRD TRIP TO THE PORK BARREL. It is noted here, that a HUGE AMOUNT of the funds given to AIG already have been funneled to OFF SHORE INVESTORS...in other words, American Bailout funds went to pay off overseas investors, went to bailout OVERSEAS assets. Now, after some more mismanagement of the original $65 BILLION, AIG is looking for the Treasury Department to give them several tens of Billions more in real dollars, and wants to convert the Treasury Departments Preferred Stocks into all but WORTHLESS COMMON SHARES...Obama is holding out for a RIM JOB before saying yes. In the mean time, for the RISK TAKERS out there, AIG's stock is just about fifty cents a share. Any Billionaires out there willing to gift me say 50,000 shares? My birthday was this past Saturday...also willing to beg Billionaires to buy me say 200,000 shares of CITI bank...guessing that might give me a bit of leverage in trying to renegotiate my now upside down mortgage. How about it Warren Buffett, Bill Gates...can you do me a square, give me some coin with which to go bargain shopping on Wall Street?

The United States of Socialized Banking

According to Secretary Paulson, affectionately called GOD at the Federal Treasury, the bailout bill passed by Congress would give the treasury the right to give banks direct cash infusion in exchange for ownership in those banks! With everything else he has tried failing, Paulson seems about to WADE INTO SOCIALIZED BANKING in yet another attempt to restore confidence in America's financial sector. Here is a CLUE Mr. Paulson...use that money to buy out all first home mortgages in America directly from the property owners, and then remortgage said loans at FED interest rates for 30 years. You can use the interest collected to begin paying down the NATIONAL DEBT. While you are at it, rescend China's Most Favorite Nation trading status.

U.S. May Take Ownership Stake in US Banks

By EDMUND L. ANDREWS and MARK LANDLER

Published: October 8, 2008

WASHINGTON — Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials.

Shawn Thew/European Pressphoto Agency

Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash directly into banks that request it. Such a move would quickly strengthen banks’ balance sheets and, officials hope, persuade them to resume lending. In return, the law gives the Treasury the right to take ownership positions in banks, including healthy ones.

Wall Street To Be Made 100 Percent WHOLE With Our Money!

OK, I go out and buy a home, and the neighborhood takes a dive in the shitter, or maybe I rented the home out to someone that trashed it. Either way, my asset is now worth less, maybe a lot less than I paid for it. I have to EAT THAT LOSS. Bad mortgages, and Wall Street greed have driven down our home prices, robbed us of our Equity, we have to swallow that as well. Yet, if you read both the House and Senate Wall Street Bailout bills CAREFULLY, Wall Street is going to be made WHOLE. Under the section titled, "Preventing Unjust Enrichment" the bill forbids the Secretary from buying an asset for more money than the lending institution PAID FOR IT! I'll take that deal every day...I bought something for ten dollars, it is now worth seven dollars, but the treasury will buy it back from me for TEN DOLLARS! HOT DAMN!

Secretary shall take such steps as may be necessary to prevent unjust enrichment of financial institutions participating in a program established under this section, including by preventing the sale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset.

Meanwhile, on related news, Bill Clinton who is out stumping for Barrack Obama is trying to tell us on Main Street we have to GET BEHIND THIS BAILOUT.