I'm hopeful for B-rack, but the reality is that we are spiraling out of control. Make no mistake; what's going on in Amerikkka is nothing less than the biggest thugs committing the largest heist in history. For those of you who read here, I urge you to tune in to CNN's Lou Dobbs, virtually alone in the mainstream media in his unabashed calling out of this theft.
Remember, the mainstream media has a major role in this. They are a sham, when so much is at stake, they are not informing us of the reality happening right now.
Before he was elected, Howard Stern said that dumbya would bankrupt the country. Howard Stern! That has now come true, and dumbya's new record low approval rating does little to console a country out of control. Folks, if someone doesn't do something to reign in Congress to let them know this is insane, we are selling my daughter's generation down the river. And that pisses me off. It should piss you off as well.
And if it doesn't, you need to ask yourself and everyone you know why it doesn't.
Note to B-rack; you need to consult with David Cay Johnston. Now.
Courtesy of Dobbs today, here are the points every American needs to be aware of, the first major deconstruction of AIG:
$85 Billion for the first looting
$60 Billion for the second looting
NOW they are asking for an additional $27 Billion because AIG is struggling to meet the terms of its agreements.
"more money, cheaper rates, more flexible terms - it's historic, in US financial markets, where one institution has this much money available to it."
-Bill Bergman, Morningstar
Reduced interest rate on $60B as a result of this re-structuring
$40 Billion of preferred stock to be bought by treasury
$22 Billion from Fed to buy "toxic loans" ie: mortgage-backed securities
$30 Billion to guarantee credit default swaps, ie: unregulated insurance contracts that are in reality ultra risky bets, the highest stakes gambling in history.
In the background, GM hits 60 year low for share price; bailiouts now heard... haven't they received 25B already???