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Quick! We Must Rush to Give $700 Billion to Rich Corporations Because… the Dow Just Went Down 29 Points?

Help me understand this.

Help me understand why we must all be in such a rush to go into $700 Billion more worth of debt so that we can transfer that money to corporations that are already wealthy.

Help me understand why this is so important, considering that we’ll of course have to pay so much interest on the debt (again to already wealthy corporations) that the final burden will be well over a trillion dollars.

Help me understand why the Bush administration wants Americans to spend $700 Billion to buy bad mortgage debts from wealthy corporations, not at the market price but at the higher price equaling the imagined and completely counterfactual value those debts would have if they weren’t likely to be defaulted on and if the corporations kept them for the full 30-year term, which of course they’re not doing.

Help me understand why the need for a $700 Billion bailout when the Bush administration admits that the figure is “not based on any particular data point. We just wanted to choose a really large number.”

Help me understand why we have to rush, rush, rush to give all these already wealthy corporations and the already wealthy individuals behind them enough dollars to reach the Planet Venus and saddle the rest of us with more debt…

… when today the stock market fell 29 points?

4 comments to Quick! We Must Rush to Give $700 Billion to Rich Corporations Because… the Dow Just Went Down 29 Points?

  • the stock market used to be much higher. people with pull don’t like the idea of paper losses

  • Anonymous

    Getting yet another “the sky is falling” message from our LIAR in chief doesn’t help to sell this completely socialistic (if not communistic) give-away to our sleazeball financial sector. We and our children and our children’s children will be paying for this for a long long time, make no mistake. We’re not even being guaranteed that the bailout will work or that the $700bn will be the last of it!
    These bad policies have been about 20 years in the making, is due to both parties and will continue to rumble through the economy NO MATTER WHAT stop-gap measures we take now. These greedy bastards have screwed up royally and now they’re going to walk away with their millions of dollars, multiple homes, off-shore bank accounts and multiple high class cars while WE, who are barely making ends meet and can’t afford health care have to bail them out!

    Don’t think your elected officials are going to bat for you either. While we speak they’re selling us out.

    The analogy to the coming climate crisis is too easy to let just pass: if we wait until the crisis is on top of us there will be little if anything we can do about it.

  • Tom

    sorry, forgot to sign in

  • Delusional people believe the illusion. So the fake crisis will get a real bailout from our real money.

    It’s easy explained. When christians are taken seriously when they demand public prayer in our schools while Jesus commanded that christians go into a closet to pray and not to pray in public like the Pharisees did then you can see why an economic delusion goes over with this same mass minded bicameral dominionist cult.

    We’ve had eight years of their god ordained illegal police action in Iraq, their illegal destruction of our secular Constitution and our natural born sovereign rights, so this fake economic crisis designed to be another nail in secular Americas coffin so they can begin their Armageddon of the planet is typical.

    Since they seem to need more time its likely Sarah Palin will pass on God’s blessing to John McCain and this election will see them carry the banner of their dominionist crusade four more years.

    John and Sarah, leaders ordained by a God. John McCain has done a fine job in his 26 years in Washington DC. Let him finish his mission from God.

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