Bait & Switch
Jim Kirwan

Do you remember back in those dark ages before the selection, when Paulson came before congress and the public and demanded that we give him (and the Federal Reserve Bank) $700 Billion? It was a performance that was a metaphorical gun to the head of the people, wherein Mr. Paulson claimed that 'if this massive bequest (with only three pages of specifics) was not immediately given to him, with no questions asked, then the world as we knew it would change forever'?

After that people became alarmed and demanded that this hostile takeover "agreement' either be scrapped immediately or completely rewritten. Then it was voted down, where it died in the US House of Representatives.

The Dictator then huddled with the criminals in charge of the Senate and had them write some legislation (which is completely illegal) ¬* as legislation must originate in the House of Representatives. But the Dictator had already told the country not to get upset by "how legislation was written" because 'the important thing was that we had to have legislation.' So the Senate did exactly what they were told to do, and they created hundreds of pages of stuff which they passed and sent back to the House for approval.

The members of the House of Representatives were then threatened with the implementation of Martial Law if this bogus new giveaway was not passed immediately: This time the constituents were ignored, and the now famous $700 Billion (which became $850 Billion) ¬* became the law that Junior Bush did finally get to sign.

We were promised that every aspect of this giveaway would be clearly transparent and would be monitored, so that the public could see exactly what their money would be used for. It was supposed to be used to buy up toxic real-estate "securities" so that the banks could get back to normal, and real-money would be available again to those who needed to borrow it. That was then and every bit of that BAILOUT-RESCUE package has now been shown to be nothing more than a pack of lies. On the street this is called 'Bait & Switch.'

In the interim we have learned that the FED paid out billions more per day in the seven days immediately after the legislation was signed: with no information available as to what that was for or who that money went to. A few days ago we also learned that a separate $2 Trillion has been paid to some, for purposes unknown and to persons unknown: and when questioned by the congress about this mystery ¬* Congress was told that this information could not be revealed because "it might cause a financial panic."

The evening news yesterday said: Secretary Paulson has admitted that "none of the $700 billion will be used to buy up toxic mortgages now, because the facts have changed." Now the money that he practically stole from the public is going to be given to the banks, in 'the hope' that they will decide to again extend credit to potential borrowers (which is still NOT happening).

When Congress questioned the rules that would accompany these massive amounts of money that Paulson and Bernanke are flinging into the void, they were told 'there are actually no rules that require disclosures concerning the particulars of any of these transactions.' And apparently there are no rules for congressional oversight either. The consensus on CBS was that we would just have to "Trust them on this one."

WOW ¬* after all that they have been doing to destroy this system for the last eight years: and in light those original demands they made of the public: It is criminal to scrap it all now and totally redirect the funds to the same institutions that caused this financial-avalanche in the first place-that has to be beyond incredible.

These people: Paulson at Treasury, Bernanke at the FED and whoever is running the Securities Exchange Commission are making this stuff up as they go along-there can be no other explanation for this idiotic behavior that answers to no one and is apparently unlimited in their ability to create "government ownership-stakes" in companies and institutions without regard for existing regulations, rules or laws.

Americans used to have a reputation for being hard-headed, bare- knuckled business men and women-what happened?

The 'facts' concerning this BAILOUT-RESCUE package are so blatantly outrageous that they could not even be used as a script for a cheap paperback-because this entire thing is too unbelievable. Any editor that tried to review such a script would find the very idea that this public would just let this garbage happen and do nothing-would simply be too ridiculous to ever actually happen: and yet that is exactly what's happening now.

Where's the money? The money was given to the major banks, supposedly to loosen credit restrictions: but the banks chose to use the money to buy up the competition (other banks), to increase their hold over everything else in the fiscal world; so "loans" will just have to wait. Astounding! We are actually paying failed institutions to buy-out their competition with our money, so that they can become even bigger, and in the process eliminate what little competition might still exist, so that whatever happens we cannot ever regain control over our own money.

When this is over-because of something called "government ownership stakes" the government might very well end up owning everything from the banks and investment companies to the automotive and insurance industries, as well as virtually everything else that will have to turn-to-them for help-like the Airlines and probably many of the so-called sovereign states within what's left of the nation, that are themselves going bankrupt?

How many more times can they change their story; how many more times can they add to the amounts of money being so freely given to their largest contributors, and to top it off, even the supposed point and purposes behind these public giveaways keep changing with every passing hour: Along with the actual amounts of money that both Paulson & Bernanke are dispensing as if it were water from an open floodgate.

The 'people' that needed to give their permission were blindsided. The money has been paid and is not being tracked and all the while the actual situation (the excuse), deepens and changes with every passing day.

What we are witnessing is a day-light hijacking of the US Treasury and of the public themselves, in order to strengthen institutions that demanded the right to fail, until they failed themselves. Now these New World Pirates are demanding that the people they screwed so thoroughly 'Bail-them-out,' so that they can come back to get even more of our money and create even more disasters with it.

Between Corporate-Welfare and socialistic-corporate-Capitalism as these concepts are practiced today: there will soon be nothing left of this country except Corporations and Only-Private-Interests where there used to be a free Republic in a country that was growing instead of dying!

Let these institutions fail before we give them trillions more to quietly steal for themselves in their unearned subsidies. The end result here will be the collapse of the banks, the markets, and AIG along with the car companies and probably the airlines ¬* so why not just hang onto the money and "let the markets sort it out" as these Capitalist have so often told us that 'their private and unregulated world could so easily do.'

This government says it's worried about protecting people's homes: but what good is a home when there are no jobs. For that matter what good is a credit-rating or a loan when there is no source of income on which to base your continued existence?

Yesterday this quagmire just became a whole lot deeper and a lot more personal. "Democrats in the U.S. House (Obama's party) have been conducting hearings on proposals to confiscate workers personal retirement accounts" including 401(k)s and IRAs" and convert them to accounts managed by the Social Security Administration.

Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.

The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for the House Committee on Education and Labor, Ghilarducci proposed that the government eliminate tax breaks for 401(k) and similar retirement accounts, such as IRAs, and confiscate workers retirement plan accounts and convert them to universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration." (1)

Obama cannot stop this orgy of lawlessness because it has become endemic to this system without order. In fact the congress has become useless in the face of these government-by-Executive- decrees, supported by near total apathy from the public that is being stripped and hijacked in broad daylight. While the thieves squabble among themselves, this nation sinks beneath the rising tides of red-ink and stolen promises that shall leave Americans destitute by the time of Obama's ordination. These creatures will not stop until we demand an end to all of this. At the very least we have to stop them from just making it all up as they go along! If we don't act now - then the global-markets will crash and that dreaded worldwide Depression shall become an indisputable fact.

1) Dems Target Private Accounts ... ounts.html