Remember last fall when Paulson, the Secretary of Goldman Sachs formerly known as the Treasury Department, went to Congress with a note from his bffs on Wall Street that said: "Give Us All The Money Or We'll Blow The Whole Place Up."
Remember that? Another new low for Congress. Because they said: Okay.
Well guess what? Wall street thinks Congress is so corrupt that they can do it again.
So this morning Tim Geithner, the "new" Paulson, went to Congress with a note from Wall Street that said: "Give Us All The Money Or We'll Blow The Whole Place Up."
He said that that the biggest financial businesses in this country, headquartered on Wall Street, which have looted and plundered our country, stolen our money, bankrupt our nation -- those businesses are such an integral part of American Life that we simply cannot afford to let them fail. And they are threatening to hold their breaths and turn blue if we don't just keep giving them all the money we have. And then some.
TOO BIG TO FAIL. That's what this ransom note said.
I say: they've already failed. Why do we keep pretending. They've already failed. Send them into a bankruptcy court where somebody has experience in how to pick the carcass of these failed institutions. At least let the attorneys for the creditor's committee and the bankruptcy trustee get in on the looting. Let somebody other than the Wall Street Criminals profit from this crime.
THEY'VE ALREADY FAILED.
NO MORE BAILOUTS.
I think Congress should be renamed. Let's call it the Department of Gran Venta (Big Sale). They do nothing. They sell their votes and peddle their asses to Wall Street and anybody else who is buying. They tell us, with a sincere look on their faces: "I just hate this system, but you know how it is. If I don't "fundraise" every single day, the Democrats/Republicans will not be able to get our agenda passed."
You know what is the real agenda of the Democrats/Republicans in Congress? For them to get rich taking bribes. The people, the citizens, the nation does not even make the top 10 on their lists.
And I just love this complete violation of our Constitution, abdication by Congress of every single responsibility they have.
The Constitution says that only Congress has the power to send this nation to war. There's a good reason for that. The framers of the Constitution were afraid that some moron like George W. Bush might fool enough people to steal an election, then decide he's King and start sending the military to nations far away to plunder their gold (oil), for his own personal enrichment and aggrandizement. They were right to be concerned.
So the Constitution provides that only Congress can send this nation to war. It's not an unclear provision. Nothing uncertain about it. The President has no legal authority or right to send the country to war.
So what did Congress do? The Moron Emperor Bush decided he wanted to start wars, send our military abroad to steal other nation's gold (oil) for his personal enrichment and aggrandizement. So he went to Congress and said: "I want a war. I want to build an empire." And Congress said: "Well, whatever. I mean if you think so. You decide."
Every person in Congress who voted for that authorization to let Bush decide whether to go to war should be thrown out of office. No, Hillary, that didn't make it better. Remember she was mincing words, saying "I didn't really vote for war -- I just voted to let Bush decide." She thought that made it better. But it made it worse, because eventually these Bush wars will end. But now we have the Congress destroying our constitution and giving all future presidents the precedent to claim that they are legally entitled to declare war whenever they want. Come to think of it, every person in Congress who voted for that should be in prison. Along with George and Dick. And Don.
The AP article I read said that when Geithner and Bernake went before Congress, they were afraid they would be "scolded." Who comes up with these words? It's like they are children, and the most Congress might do is be a bit peeved. Isn't that because they all are on Wall Street's payroll?
Congress does nothing. And now Tim Geithner is back asking for the same authority Paulson did: let me (another Wall Street Insider) run everything, give me all the money, no questions asked. For example, he could take control of a "failed" bank, sell its assets off to his friends, let the government pay all the liabilities. Which is exactly what Reagan did in the S&L scandal: every privileged white man in American owned his own S&L, loaned millions to their friends in fraudulent deals, let their friends default, took a piece of the loan money themselves, then had the taxpayers pay off their obligations. White men are not that creative. Because this is exactly the same con.
I've got a question for Geithner, Bernake and Congress: ARE YOU OUT OF YOUR FREAKING MINDS?
No Tim. Nice try, but no.
Congress needs to get up off their corrupt lazy asses, get educated, and take control of this nation. Like their job says they should do. The only thing Congress did during the past eight years, other than taking bribes to sell out our country, was to invite some Major League Baseball players in to sign autographs and "scold" them about using drugs. Party's over folks. Your nation is dying. Can't you put down the champagne fluted glasses for just a few moments and at least pretend that you care?
"Geithner seeks new powers over financial companies"
"Treasury Secretary Timothy Geithner called on Congress Tuesday to grant him new powers to regulate huge financial companies like insurance giant AIG, whose failure would pose a grave danger to the U.S. financial system and the broader economy."
"Specifically, Geithner wants powers similar to those of the Federal Deposit Insurance Corporation, which has authority to seize control of banks, take over their bad assets and sell good ones to competitors."
"Much of the discussion centered on ways to help the government better deal with future AIG-like companies whose failure could devastate the financial system and the drag down the economy."
"Geithner made it clear he believes the treasury secretary should be granted unprecedented power, after consultation with Federal Reserve Board officials, to take control of a major financial institution and run it. "
"Bernanke and Geithner were braced for a scolding before lawmakers over the handling of bonuses at American International Group Inc., which has become a symbol of reckless risk-taking on Wall Street."
AIG is a globally interconnected colossus, with 74 million customers worldwide and operations in more than 130 countries. The government decided it was simply too big to let fail.
"Its failure could have resulted in a 1930s-style global financial and economic meltdown, with catastrophic implications for production, income and jobs," Bernanke told the panel.
"As a result, the government has bailed out AIG four times, to the tune of more than $180 billion altogether. The company recently paid at least $165 million in bonuses to employees who worked in the financial products division that has been blamed for the its near-collapse. The bonuses came even as AIG reported a stunning $62 billion loss, the biggest in U.S. corporate history."