Tuesday, November 18, 2008

"Your pathetic politics is disgusting."



Shephard Smith takes on an emailer. That, in itself, wouldn't prompt me to post. However, it's the answer he gives. A very true, very real, very poignant question is posed: Do American tax payers bailout companies? And if so, when do we stop? Who gets money? Who doesn't? Who decides?

All excellent after thoughts for our Congressional electorates who have gone mad with green ink in their blood. The bailout was a mistake from the beginning. And it continues to plummet ever so sharply downward.

Here's some bailout news for you:

- Barney Frank is ticked. He wants bailout cash to start buying up homes. Instead of addressing that check to CountryWide, just write in, U.S. Federal Government. And rest easy. You know they'll take good care of you.
Secretary Paulson is refusing.

- But don't get all "Go Paulson" on me yet. He's spent $40 billion on AIG. Yes, that AIG. The one that keeps holding retreats and get-aways for employees while asking for more cash because they are so terribly broke. I've worked for broke companies my entire life. We didn't take retreats or hold conferences. We met around the table, brought our lunch, and worked through it. These guys are like a bunch of spoiled Daddy's Girls who wreck their brand new car and pout for a second one.

- Then you have the Democrats. They are really breaking their insanity records. They want to bailout the big Automotive 3 - GM, Ford, and Chrysler. Do I want them to collapse? No. But why is it suddenly the American taxpayer's responsibility to bailout companies who are being milked to death by costly labor union contracts with the United Auto Workers? Do these employees want a job? Time to stop demanding the taxpayer guarantee their pension.
(And here's a little trivia: What political party is the major recipient of contributions from the United Auto Workers? That's right. Democrats. Now do you see why they are pushing the bailout? They don't want to lose the 3 million votes in the union.)

- What would you do with a blank check for $700 billion? That's the question Secretary Paulson must wake up every morning and ask himself. Difference is, his question isn't hypothetical.
Sen. Jim Inhofe of Oklahoma, great guy, says it's time to answer that question. He opposed the bailout and is going to push for legislation to freeze the remaining $350 billion left from the original $700 billion and set up oversight.
"It is just outrageous that the American people don't know -- that Congress doesn't know -- how much money he (Paulson) has given away to anyone. It could be to his friends. It could be to anybody else. We don't know. There is no way of knowing.''

Paulson was empowered by Congress with the $700 billion to use it purchasing troubled bank assets. Once the funds were secured, the blank written and handed over, Paulson has changed his mind. And we all LOVE change. He's decided not to use it purchasing troubled bank assets and instead use $250 billion purchasing bank stock to boost their balance sheets.

Here's the lesson for today class. Government can't be trusted with money. They are not a charity. They are not benevolent. They are spenders, insane spenders, tossing money out the window because more money is walking through the door.
Only give the government what they need. Not want. Not demand. Not dream about. Only what they must have to secure the national defense and keep our roads and bridges operational. Otherwise, the money is gone before they even spend it.

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