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Tuesday, 01 December, 2020

I Want Some Free Money Too

Date: 15 April, 2009

By: Chief

Imageh, wishful thinking. And something tells me I'm not going to get my wish.

But why not? The scurvy dogs on Wall Street sure as shootin' did. Come to think of it so did most of the corporately held banks. General Motors is getting some free money. Oh, and how in the world could I forget such a stalwart company such as American International Group — AIG. Gag.

Indeed even some states, California for one, and some cities, Albuquerque for another, have their hands out for free federal aid money. Albuquerque got their wish. I don't know if California has or not.

Even some "special interest" groups have received some free cash — whether they needed it or not. I am specifically talking about bicyclists in San Francisco. Courtesy of Toxic Nancy Pelosi.

So I ask again — where is mine? The answer is the same — in your dreams.

More importantly is the question what about the payback? Once again the answer is the same — in your dreams.

But wait, just what the Sam Thump is federal money anyway? Is it cash the Treasury just printed up out of thin air? I certainly would hope not. Inflation and all of that ugliness you know. Or, and far more reasonable, is it taxpayer money? Why yes. I do believe it is.

Well Hell's bells LeRoy, if it is taxpayer money, in other words this free money is kinda free — but only for corporate fat cats, corporate banks and certain other failing businesses, then in reality this free money is not free. It never has been either. There will be a payback. To be sure, there has to be a payback. And the weight of that payback shall be borne on the backs of our children and grandchildren. That is really messed up.

Just take a look at Wells Fargo bank. They quite recently posted a three billion dollar profit. After taking $25 billion in the form of a taxpayer funded bailout bill passed by Congress. Wells Fargo was not the only corporate held bank that received a free $25 billion courtesy of We the People.

each received a mind boggling amount of cash. Each in the multiple billions of dollars. Now wasn't that a wonderful and early Christmas present for the poor, old bankers? Why yes it was. The full list of banks of one sort or another who have been bailed out is available for your viewing and cussing pleasure at the NY Times web site.

I'll bet your stocking wasn't that full of Christmas cheer.

Even American Express received 3.3 billion smackeroos.

The utterly horrid part of this whole financial fiasco is there is absolutely no accounting required by Congress. How absolutely stupid is that? Actually it is brilliant on the part of the Congress. Why? Because our criminals in Congress had no, as in zero, intent of having any of our money repaid. And allow me to place a time line on that for you — ever.

It was what it is:

Now it just dawned on me that since these are public corporations that I have been writing about which shoved their slimy hands out and drew back a lot of taxpayer green backs, at no expense to themselves. Therefore We the People, We the Taxpayers, are now the not so proud owners of these ne'er do well companies. And if the companies don't like it — well screw 'em and feed 'em fish heads, says I.

If indeed We the People are factually the owners of this financial house of horrors then it also stands to reason that we, as owners, can rewrite the loan and mortgage rules to suit ourselves. We should be able to waltz into any bank that took any bailout money and not ask, oh no, but demand a loan. A loan:

After all it is We the People who now own most of the corporate financial institutions in the country.

Sound absurd? Well regrettably it is. In that 450 plus page bill which became law there is not one inkling — not one — of any such language. Nope, not a bit. Just a 'free money — get it while you can' come on from the Treasury department. That sucks donkey dicks a nickel a herd. Yes, our Members of Congress are on their knees getting facials at this very moment from some pleasantly surprised donkeys. You would think our Members of Congress would have learned how to swallow by now. Obviously they are slow learners.

So what have we got:

And an absolutely screwed up future for our children and grandchildren.

My wife and I have four adult sons. The oldest is nearly 30 and the youngest is 19. All are working and working hard. All are doing their very best to put as much money as they can away for their individual retirement (hopefully they shall have one). And each and every one of them is so angry over this crap it is not even funny.

They know they are getting screwed — and not even kissed afterwards.

How are your kids doing?

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