.
September 23, 2008
SouthAmerica: In the old days we used to have economic cycles that included also recessions.
According to Ben Bernanke the taxpayer need to spend $ 700 billion dollars and probably a lot more to avoid a recession.
They want scrap accounting rules to better fudge their financial numbers and pretend that they have earnings.
As part of this authorization regarding the latest $ 700 billion dollar scam they should add a few items to this bill and make it into law.
They should outlaw recessions, unemployment, losses of any kind by financial institutions and other businesses, and since we are creating a fictitious financial system they should also fix the US dollar exchange rate with all other countries of the world on a ratio of 1 to 1 and use that rate for the next 10 years without changing it.
Congress should pass this new give away to Wall Street as fast as they can as Secretary of the Treasury Paulson has been requesting - don't give time for debate and try new solutions because people might wake up and realize this is a major scam like never seen before.
The American people should pay attention to all Senators and Congressmen who are running for reelection in November and if any of these people vote in favor of this major scam they should be voted out of office immediately.
Let the new Congress debate and put the safe guards necessary starting in February of 2009 - in the meantime let some people who should not be in business go bankrupt and out of business.
Let Wall Street and the banking system consolidate and weed the bad apples.
If the stock market goes down another 30 or 40 percent that probably is the level that the market should be anyway based on the actual value of current assets and the prospects for the future.
Let the big boys go up in flames for a change and teach them a lesson otherwise these scam artists just do it all over again.
In the last few weeks I came to the conclusion that Hank Paulson is just another Jackass. A very wealth self-serving Jackass.
Lets not forget Bill Gross a person that I thought was smart and I usually read his writings. Last night he was on the Lou Dobbs television show giving his opinion about what should be done right now regarding the $ 700 billion bailout - the only problem is that he has lost all the credibility that he once had before he was trying to make the case for Fannie and Freddie to be nationalized by the US government.
After the US government nationalized Fannie & Freddie the news came out that Bill Gross had made $ 1.9 billion dollars out of that fiasco.
Today Bill Gross's opinions became worthless since we know that he is a self-serving greed person and nothing else.
And right now he might be salivating about the prospect of making another killing to the tune of billions and billions of US dollars in the latest scam that Wall Street is setting up.
There is no more integrity in Wall Street and one of the few people that I still trust it is Warren Buffett the rest of these scam artists they are not worth even the food that they eat on a daily basis - and most of these scam artists belong in jail.
*******
Associated Press - September 23, 2008
Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday it risks a recession, with higher unemployment and increased home foreclosures, if lawmakers fail to pass the Bush administration's $700 billion plan to bail out the financial industry.
.
September 23, 2008
SouthAmerica: In the old days we used to have economic cycles that included also recessions.
According to Ben Bernanke the taxpayer need to spend $ 700 billion dollars and probably a lot more to avoid a recession.
They want scrap accounting rules to better fudge their financial numbers and pretend that they have earnings.
As part of this authorization regarding the latest $ 700 billion dollar scam they should add a few items to this bill and make it into law.
They should outlaw recessions, unemployment, losses of any kind by financial institutions and other businesses, and since we are creating a fictitious financial system they should also fix the US dollar exchange rate with all other countries of the world on a ratio of 1 to 1 and use that rate for the next 10 years without changing it.
Congress should pass this new give away to Wall Street as fast as they can as Secretary of the Treasury Paulson has been requesting - don't give time for debate and try new solutions because people might wake up and realize this is a major scam like never seen before.
The American people should pay attention to all Senators and Congressmen who are running for reelection in November and if any of these people vote in favor of this major scam they should be voted out of office immediately.
Let the new Congress debate and put the safe guards necessary starting in February of 2009 - in the meantime let some people who should not be in business go bankrupt and out of business.
Let Wall Street and the banking system consolidate and weed the bad apples.
If the stock market goes down another 30 or 40 percent that probably is the level that the market should be anyway based on the actual value of current assets and the prospects for the future.
Let the big boys go up in flames for a change and teach them a lesson otherwise these scam artists just do it all over again.
In the last few weeks I came to the conclusion that Hank Paulson is just another Jackass. A very wealth self-serving Jackass.
Lets not forget Bill Gross a person that I thought was smart and I usually read his writings. Last night he was on the Lou Dobbs television show giving his opinion about what should be done right now regarding the $ 700 billion bailout - the only problem is that he has lost all the credibility that he once had before he was trying to make the case for Fannie and Freddie to be nationalized by the US government.
After the US government nationalized Fannie & Freddie the news came out that Bill Gross had made $ 1.9 billion dollars out of that fiasco.
Today Bill Gross's opinions became worthless since we know that he is a self-serving greed person and nothing else.
And right now he might be salivating about the prospect of making another killing to the tune of billions and billions of US dollars in the latest scam that Wall Street is setting up.
There is no more integrity in Wall Street and one of the few people that I still trust it is Warren Buffett the rest of these scam artists they are not worth even the food that they eat on a daily basis - and most of these scam artists belong in jail.
*******
Associated Press - September 23, 2008
Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday it risks a recession, with higher unemployment and increased home foreclosures, if lawmakers fail to pass the Bush administration's $700 billion plan to bail out the financial industry.
.
