Bailout backlash cuts deep
"Public anger over Wall Street is a sword of Damocles hanging over incumbents from President Obama on down, observers say."
The above represents the present main headline material from MarketWatch.com. Is the public finally fed up with the newly minted fascists/Communists/socialists on Wall Street, in the political establishment, and in the mainstream media? Maybe. My brother insists we are about ready for a revolution in this country. He also says that the pubic is about ready to do what they should do: Throw out every politician in Washington--every member of Congress and the President (at first opportunity). I am afraid the pubic is not yet mad enough for this. I hope I am wrong.
But it is getting ridiculous out there. President Obama was in the Senate (despite all appearances) when the AIG bailout occurred, and the Paulson 700 billion dollar bailout bill was passed--with Obama's support of both things. If Obama had oposed either, they would not have happened. Despite Obama's promise of "no blank check", that is exactly what Congress passed. There were no strings on the money in terms of the kinds of bonuses AIG is now granting (per contractl). Now Obama wants to act like he had nothing to do with this.
You will remember that I finally abandoned John McCain and the Republican Party over the Paulson bailout. I told you that McCain lost the election by supporting the Paulson bailout, and that is now clearly correct. I want it clear that I will NOT shed a single tear if EVERY single Republican in Congress gets thrown out of office--especiallly every single Republican that supported ANY of these bailouts. They ALL deserve to go. Of course, the country goes down the drain if voters throw out only Republicans, but we are going down the drain anyway,. That is why I stopped supporting McCain. He was going to be no better than Obama.
We need to throw ALL of the bastards out--bar none. We have only ourselves to blame if we do not. However, I am a pessimist. My instinct tells me that my brother is wrong--that we are not quite ready for revolution. But we may b e getting there.
Look at Barney Frank. No single person is more responsible for the central planning mistakes (Fannie Mae, Freddie Mac, and pressure on banks to make loans to minorities and poor people) than Barney Frank. Yet, the mainstream media listens "respectfully" while hypocrite Frank tells them how it was everybody else's fault, and how AIG people should be "fired" (like letting the company fail?). Why should Barney Frank not be FIRED. I will believe that a revolution is at hand when the (dumb) people of Massacusetts throw out Barney Frank; when the people of California throw out their leftist politicians; and when the Republican rank and file take back their party and tell the Repubican establishment where to go (hint: Heaven is NOT the place).
I am ready t do my part. I did not vote for John McCain. I did not vote for the relatively (in comparison to some) conservative, but establishment, Republican candidate for Senate in Texas. He was the incumbent (John Cornyn), and bound to win. But I refused to vote for him. I would do it again, and do not expect to vote for the next Repubican Senate candidate, or candidate for governor, in Texas. The only thing that will change my mind is a COUP--hopefully nationally, and hopefully part of a revolutioin by ALL of the non-establishment people.
See my previous entry today about Ben Bernanke. Bernanke is the second worst failure in the history of world finance. He has been behind most of these bailouts, along with Hentry Paulson and present Treasury Secretary Geitner (even before he was Treasury Secretary. Why should we not DEMAND that all of these people GO?
I would quote the character from the movie "Network": I am mad as Hell, and I am not going to take it anymore." Except I reached that point long ago. It is time for the rest of the people to join me and revolt against the establishments of both parties. Yes, I want us to turn conservative. But more than that, I wnat the establishments REMOVED. We can't do any worse.