Above the Law: Bush’s Big Bankster Bailout
There is no question about it. Wall Street got drunk…The question is, How long will it take to sober up and not try to do all these fancy financial instruments? ~ George W. Bush July 2008
In yet another blatant governmental power grab attempt, the Bush crime syndicate proposed a $700 billion bailout package to purchase distressed assets from failed Wall Street and international financial institutions. In accordance with Bush’s dictatorial unitary executive policy, the plan seeks to unconstitutionally prohibit judicial or administrative oversight. Section 8 of the power-elite advanced theft proposal provides:
Decisions by the Secretary (of Treasury) pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
In a nutshell, the proposal’s language seeks to shield the $700 billion big bankster American tax dollar hijack from not only judicial review, but also from interference from following administrations. Bush, the compassionate small-government conservative, is embarking on a nationalization scheme that would make Mussolini proud. According to Andrew Ross Sorkin, “it is the financial equivalent of the PATRIOT ACT.”
What is all that fuss about the co-equal branches of a tripartite federal government you say? According to Bush, the bedrock principle of our government structure is merely an anachronistic throwback to a distant time. An age when the U.S. Constitution was more than just a “goddamned piece of paper” (Bush in 2005).
Who is the architect behind this Wall Street fascist power grab? Meet Treasury Secretary Henry Paulson Jr. This scoundrel, assisted by fellow big bankster stooge Ben Benarnke (Chairman of the private corporation known as the Federal Reserve), is the point man behind the bailout scheme. His disreputable and self-interested resume speaks for itself.
- Staff Assistant to the Under Secretary of Defense at the Pentagon
- Assistant to convicted Watergate felon John Ehrlichmen in the Nixon Administration
- Former Chief Executive of the global banking behemoth Goldman Sachs
Paulson is a Wall Street corporate insider masquerading as one of the King’s men. Instead of patching Humpty Dumpty back together, he is tasked with the government takeover of failed financial institutions in a scheme to shield his overlords from the risk of doing business. Unlike other financial players whose stock value imploded in the recent meltdown (i.e., Bear Stearns, Merrill Lynch and Lehman Bros.), the stock value of Goldman Sachs (Paulson’s former employer), will likely increase due to the removal of bad assets from their investment pool.
The corrupt officials in the Bush administration have a simple philosophy regarding their Wall Street buddies: profit is private, losses are public. In other words, when the predatory profiteers are raking in cash, they keep all of the spoils. When their underhanded schemes implode, American tax-payers are there to foot the bill and shield them from the aftermath of their underhanded dealings.
The Bushco./big bankster’s radical scheme to bail out corrupt financial institutions will assuredly lead to more havoc in the market. In economic terms, this is known as a moral hazard. Shielding a party from risk creates an incentive for them to act recklessly in the future since they do not bear the full brunt of their actions. Of course, the Bush Crime family is no stranger to reckless policies bearing the destructive fruit of unintended consequences.
The $700 billion dollar taxpayer theft package is just another feather in the cap for the shrub’s miserable reign of terror on America. The national public debt has doubled from approximately $5 trillion to a projected $10 trillion when Bush leaves office. At a minimum, $2.3 trillion dollars disappeared from the Defense Department budget in 2001 (conveniently announced by Donald Rumsfeld a day before 9/11). The “War of Terror” is projected to cost tax payers another $3 trillion dollars. In other words, don’t quit your job or die, your money is desperately needed by war-mongers, corporate wolves, and corrupt political officials to pay off their debts.
We have no plans to insert money into either of those two institutions ~ U.S. Treasury Secretary Henry Paulson (lying about the plan to stabilize Fannie Mae and Freddie Mac with tax payer dollars.)