What a surprise.
Straight from The Washington Post, the bailout that Obama (and McCain, and Rahm Emanuel) supported contains a possibly illegal provision to give banks a windfall of $140BILLION.
"As part of the bailout, lawmakers changed tax code Section 382, which limits the kinds of tax shelters companies can use during corporate mergers. It was created to stop companies who avoid paying taxes by acquiring shell companies valued by the losses on their stocks. The companies would then write off the losses and avoid paying taxes on their own profits. " (from DemocracyNow.org)
Congressional aides have even admitted that they kept the provision HIDDEN to avoid public outrage! Are you kidding!? Can it get any more apparent than this that we, the American People, are being SCREWED OVER by this bailout? AND OBAMA SUPPORTED IT! He is a lawmaker. He KNEW what the provisions entailed. And if he didn't read anything in it, he is even MORE at fault for passing a law without taking the time to read through it. He KNEW it would benefit the banks. The bankers are his friends!
The VERY next article on DemocracyNow.org is the fact that in New York billions of dollars of medicaid and school funding is being cut. So, as we're forking over our tax payer money to the banks so they can pay off their higher shareholders and buy up other banks (it's what they're doing, pick up a fucking newspaper and read) they're cutting spending in social programs. We can afford to bailout our banks from their own economic fuck ups, but we can't afford to keep medicare and public schools properly funded.
And on top of that, AIG is restructuring their $143Billion loan to make it easier for them to pay off.
Am I the only person that thinks if a company is failing, they shouldn't get bailed out? If a company fucks up and makes the wrong investments, it's a sign that: THEY FUCKED UP. They shouldn't receive aid. Little Ma & Pa places all over the country are closing because they can't make ends meet. When a company goes under, another company steps in the fill the void that company left, if the void needs to be filled. That's the point of the free market system. If you fuck up, and make bad investments, you should pay for it. If you want your company to survive, you've got to cut spending, cut your own salary and figure it the fuck out. You shouldn't be able to turn to the government and ask them to bail you out. Transversely, if you do well your company will take off. If you make the right investments, and read the market properly, you'll gain profits.
GM: You fucked up. You read the market wrong, you did not invest in the trend the automobile market was following and you continued to pump out cars that you knew for a fact people did not want to buy because of how much gas they consumed. You refused to adapt to the market, and now you're going under. As well you should be. You made BAD FINANCIAL AND PROJECTIVE DECISIONS! And now WE the American People are going to bail you out and save your company?
FUCK YOU!
If I go out and get a loan for a 500,000 house, and I can only afford a 100,000 house, I am living above my means and I shouldn't be there. And I shouldn't be able to make interest only payments and never pay off the principle amount of my loan. THAT MEANS THE BANK WILL OWN MY HOME WHEN I DIE! And if a bank is stupid enough to GIVE ME THAT LOAN and I'm unable to pay it, I deserve to lose my house and that bank deserves to lose profits for giving me the loan in the first place (even tho they won't because they now own the home and can simply sell it again.)
We cannot continue to live above our means, as we have done so carelessly in America. We cannot continue to ask the Chinese and the Japanese for money. We cannot continue to turn to our central banks to the issuance of our currency, because they're RAPING US! Corporations are taking over the world, they have more power than government. It's absurd!
Our congress people LIED TO US about the provisions so we wouldn't get pissed off. And we are supposed to sit here and let them RAPE OUR ECONOMY!? I can't believe this shit.
EDIT:
So here is my proposal. All across the country we need to organize and protest these abominable acts by our government. DEMAND THAT WE NOT CONTINUE TO PAY OFF THESE COMPANIES FOR THEIR MISTAKES!
In EVERY CITY we need to March on the Capitol buildings and demand that our voice be heard and not stifled by the media! We are still capable of saving this country. We need to organize and to DO IT. No more sitting around on our asses. Get out there, organize. Let the government know we will no longer stand for them taking advantage of our hard work!
Where's my god damned dinner!?
If you're gonna fuck me in the ass, you better buy me dinner first!
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2 comments:
There WAS protests. Remember? It gets us no where. The media still says that people are looking to the government now to help us out, as opposed to twenty something years ago when Reagan said the government is the problem. That's a lie by the media. But even they followed it up with "especially in Wallstreet." Of COURSE in Wallstreet would the people be looking for the government to solve the problem. Wallstreet CREATED the problem.
ALSO... I remember a few days after the bailout passed they said it was obsolete. Haha. You know, someone I know said that the first bailout failed to give way to something even worse -- I thought it was a little paranoid, but you know what.. They were most likely right.
Ugh. I remember seeing a protest on Wallstreet, but I'm talking about going up to every congress person who voted for the bailouts office and protesting outside, at the same time.
Maybe it's a little grandiose of an idea....
I'm just infuriated sometimes when I read some of the crap going on, right in peoples faces, in the main stream media, and people don't put two and two together.
It's like they're almost laughing at us thinking we're too stupid to figure it out.
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