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Tuesday, November 18, 2008

Did Bush/Paulson Scam Us? Were We Fooled Again?

Good Morning Papamoka Bloggers - Raw Story today is pointing to a letter from CONSERVATIVE Senator James Inhofe (R-OK) where he tells his Senate colleagues that he "intends to push for immediate legislation that would require Congressional authorization for any further payouts" related to the recent bailout package.

According to my sources in DC, many in Congress are beginning to believe that Bush and Paulson bailed out their friends on Wall Street, with few conditions to lend the money out. Many now feel that's all they really wanted. There are rumors flying around DC that they needed to save specific institutions and markets before leaving office.

Since investing the money they have done very little to encourage lending, and they appear to be holding on to the rest of the funds just in case something else goes wrong - an emergency buddy fund I guess? They are supposed to be freeing up credit. They were supposed to be demanding that banks lend money. What the hell is going on?

The ultra-conservative Oklahoma Republican told the Tulsa World, "It is just outrageous that the American people don't know that Congress doesn't know how much money [Paulson] has given away to anyone. ... It could be to his friends. It could be to anybody else. We don't know. There is no way of knowing. ... He was able to get this authority from Congress predicated on what he was going to do, and then he didn't do it." I agree. I'm beginning to wonder if they know anything up there. What is wrong with them?

I never thought I would say this, but I think Inhofe is right! I, like so many others, came to believe that the government was trying to stop a disaster when they passed the legislation. Facts on the ground since are showing that things weren't as bad as suspected, and if anything it's beginning to look like Bush and Paulson created the panic based on very little data.

It's beginning to look like we might have been scammed again, just like with the Iraq War - another crisis that helped Bush and his buddies. What did Bush say, fool me once shame on me, or some perverted version of it? Maybe he's not the idiot we all took him for? Maybe he's just a much bigger CROOK! Then again, we're supposed to TRUST THE PRESIDENT when he warns us of a potential disaster. I don't know about you guys, but I feel sick!

Incredibly, our trustworthy Democrats in Congress - and center-right Republicans - didn't dig deep enough. I know they convinced many of us in the end, but aren't they supposed to know more than us? Then again, maybe they're not as smart as we think they are? Maybe we rely on a bunch of smooth-talking IDIOTS!

What in the hell is wrong with this government, especially our elected representatives? Nobody seems to know what they're doing. WE NEED ANSWERS NOW!

We need to FOCUS ON STOPPING THE BUSH CRIME SYNDICATE from plundering more. We need immediate investigations! We need action now! Unless something happens, this may be the first issue where I take a stand AGAINST OBAMA! Once in office, we need President-Elect Obama to support immediate investigations into possible Bush crimes, or we should take to the streets!

The American people voted for change, and we might not be able to wait until the inauguration. The Lame Duck Congress should act now! To protect our democracy for the future, we need to get to the bottom of what is happening to that money. I hope you agree.

Michael Boh
Papamoka's Left Coast Contributor
from Our Rants & Raves Blog

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Blogger Papamoka said...

I'm taking a wait and see approach to this issue. Although I am all for the "Loans" to the big 3 automakers. I would have to agree with you based on the article you listed though.

3:34 PM  

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