Sunday, October 5, 2008

"Yes Congressman we do understand this bill" Ya Jackass!!

Do we really deserve the leadership we have in congress? Last week , after the House Of Representatives did the will of the people and killed the Wall Street bailout bill , the senate went at it again. They took a 700 billion dollar bill and porked it up to a tune of 860 billion!! All you hear coming out of the hill was "the American people don't understand this bill, it is not a bailout but a rescue". Bull butter!!!
Let me tell you Barnie Frank. Let me tell you Harry Reid. Let me tell you Nancy Pelosi. We the people do understand and we the people will vote you out in November!! Do you understand that? Let me inform some people on what was passed. First of all, the argument was that we have to pass this so banks will be able to lend to people or else the sky will fall. If you are trying to create financial confidence in the market , you do not go on TV and tell everyone the economy is going to implode. You do not say we must bailout Wall Street or no one will be able to get credit. This only causes fear , panic, and silent bank runs! The morons on Capital Hill believe their bill will insure the credit markets will flow freely with liquidity on the backs of the tax payers. Not true!! If financial and banking institutes sell their worthless paper to the treasury, this does not mean they will turn around and lend it to you and me!! No where in the bill does it force institutions to extend credit. Most likely in this environment, Banks will constrict their lending and hold on to the tax payers money.
They want us to believe that there is strong oversight written into this bill. Not so!! I read the whole bill and the oversight committee is made up of a five person panel including Bernanke and Paulson. Let me get this straight. We the tax payers fork over 700 billion to Treasury Secretary Henry Paulson; He intern, turns around and buys all his buddies on bad paper. He and Bernanke get to oversee his own work!! That's some oversight.
I am an accountant and a auditor for a large public CPA firm. The first tenant in auditing and Sarbanes Oxley is independence. That is you should never audit your own work!!! You will see , this move will sink the dollar and plunge us farther into a depression, mark my words. Didn't you find it funny that every idiot was shouting , they day after the bill was killed that the stock market went down 777 points; But did anyone mention, one day later, that DJIA went up 435 points? NOPE!! Pretty funny how that works! Or what about on Friday , when the bill passed, the DJIA went down almost 300 points. Wait a minute this was suppose to inspire confidence. It inspired that we are headed to the Amero and the bankrupting of our great nation. So go ahead and jump you idiots in Congress and Wall Street. Maybe Barnie Frank will start dating Henry Paulson and sink the whole ship!!!!!!!!!!!

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