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Reply #71: The Predators' Bailout - Swimming Lessons for Washington and Wall Street [View All]

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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-24-08 12:04 AM
Response to Reply #19
71. The Predators' Bailout - Swimming Lessons for Washington and Wall Street
Thank you, Hubert Flottz! Here's a bit on the irony, a taste of their own medicine:



Swimming Lessons for Washington and Wall Street

The Predators' Bailout


By RON JACOBS
CouterPunch
September 22, 2008

Let me get this straight. The Congress is meeting with the Treasury Secretary Henry Paulson this week. Mr. Paulson, who works for the White House, says he has a plan to save the US economy. That plan involves bailing out the same companies that got the economy into the mess it is in today. The money for the bailout plan is going to come from the people who are already paying for two pointless, brutal and expensive occupations in Iraq and Afghanistan.--the US taxpayers. More precisely, the US taxpayers who make between $25, 000 and $150,000 a year--the people the government likes to call the middle class. These people are already making less in real wages than they were ten years ago and many of them are facing foreclosures and other financial problems of their own.

If I recall correctly, the very same US Congress that is considering bailing out the big financial corporations that got the economy into its current mess because of their greed and the government's willingness to forgo any regulation of their doings (and the doings of their sister companies in the energy sector) made it almost impossible for individual working people in the US to declare bankruptcy. Yet, they are enabling these giants of the Wall Street economy to get out of their financial catastrophes by making us foot the bill. Furthermore, they have the nerve to tell us it is for the good of the country. Now, I don't know about you, but I don't think I can honestly recall the last time the White House, Congress or Wall Street did anything for the good of the country that I know.

Sure, they started a war against Afghanistan under the pretense that they were going to chase down and capture the guys who organized those planes flying into the World Trade Center and the Pentagon. That's gone real well. I mean, look at Afghanistan now. The Pentagon is sending more troops and the White House and Congress are giving the okay. Dozens of civilians are dying in US air strikes as the occupiers fight a growing guerrilla army. They also started a war in Iraq that has done nothing but brought greater misery to that country and its people. It has also caused over 30,000 US casualties, with over 4000 of those casualties being dead men and women whose families are still not sure what they died for. Oh yeh, the price of fuel at the pump has increased by almost four dollars in some places across this land and the number of jobs has decreased steadily. That is, of course, unless you look at the military. Those job openings continue to grow.

But somebody must have benefited from this, right? And we all know who they are. The energy industry has raked in historically huge profits, all the while claiming that they deserve them while insisting that they get further tax breaks. Tax breaks which Congress willingly grants. The war industry has also made a bundle. Some companies, like General Dynamics, have doubled their net earnings just in the past four years. Others, like Haliburton, have used their insider connections to capture dozens, if not hundreds, of no-bid contracts that involve several documented cases of outright fraud and corruption. Yet, they continue to obtain the contracts and avoid prosecution. Then, there are those so-called security contractors, whose employees murder Iraqi citizens, media workers, and even Iraqi employees of the US-installed regime in Baghdad and face no penalties. Meanwhile, the contractor corporations themselves reap huge profits while also selling their services to agencies stateside that are involved with immigration and disaster management. So, uniformed thugs who answer to no one are now performing police duties here in the US. It's like the Pinkertons of old in the employ of the Rockefellers, Carnegies and the government they ran back then.

CONTINUED...

http://www.counterpunch.org/jacobs09222008.html



When Phil gets frog-marched to San Quentin is when my Victrola will cue up "Happy Days Are Here Again." Oh. Happy day, indeed!
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