Columbus Day International Looting Spree Of US Taxpayers

[Joanne98]

October 11, 2008

Elaine Meinel Supkis


The G7 meeting is done and the G7 nations have collectively decided that the only way to get back to the hideous status quo that is destroying the US and drowning us in red ink is to resume drowning the US in red ink! And to do this is to undo all the accounting reforms that were put in place just one year ago due to wild, excessive granting of credit which flooded the world with red ink. So 'liquidity' will return! The cost of all this is already figured to be over $2 trillion on top of US taxpayers. So many schemes today, all of them triggered by the 90% losses in the Lehman auctions yesterday. All these nasty changes are happening on a long US holiday weekened: Columbus day. The celebration of the annihilation, enslavement and looting of the New World by these same peoples.


Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets

(Bloomberg) -- Federal regulators directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets and resuscitate the U.S. economy, according to three people briefed about the plan.

Fannie and Freddie began notifying bond traders last week that each company needs to buy $20 billion a month in mostly subprime, Alt-A and non-performing prime mortgage securities, according to the people, who asked not to be identified because the plans are confidential. The purchases would be separate from the U.S. Treasury's $700 billion Troubled Asset Relief Program.



They will spend trillions of taxpayer's money to keep that darn Derivatives Beast from eating all the wealth of the rich. Wow. This is, holy hell, another half a trillion a year that we will be sucking down in addition to nearly a trillion that is already being used in insane ways to prop up the biggest investment and lending banks in the US if not the planet earth!


Paulson says U.S. planning to buy bank stocks
Malaysia Sun

U.S. Treasury Secretary Henry Paulson said Friday the government was working on a plan to buy stock in financial institutions.

The plan is to use part of the funds in a $700 billion rescue package signed in to law last Friday after its passing by Congress.

'We are working to develop a standardized program that is open to a broad array of financial institutions,' Paulson said Friday

'Such a program would be designed to encourage the raising of new private capital to complement public capital,' he said.

Any shares purchased by the U.S. government would be non-voting shares except, he said, 'with the respect to the market standard terms to protect our rights as investors.'

Paulson said that developing a standard program is the best way to 'use taxpayer money more efficiently and have it go farther.'

He didn't specify what the government's terms would be for companies that take part in the capital injection program.

'We're working as quickly as possible to unveil the capital plan,' the treasury secretary said. 'We want to do it as soon as possible, but we want it to be right, and we want it to be effective. We're working around the clock.'



Did Congress demand that the person doing this divest himself of all his stocks in these very same banks? Eh? Conflict of huge interest here. Since the founding of the Fed, we have had this huge conflict of interest. Since the Treasury was taken over by gnomes thanks to corrupt Presidents, they have only one thing going: saving their own skins or stuffing their own guts. The American people got exactly one thing out of all this: endless wars and endless debts.


The US loved to lecture the world about the dangers of communism and socialism. Yet the countries with the least debt are those that were communist! The US loved to punish smaller economies and smaller nations when they ran up too much debt. Then we ran up too much debt. When the divine ladies who are the Goddesses in the Cave of Wealth and Death moved to set things to right again in their cruel, harsh ways, instead of balancing our books and correcting our mistakes, we are in the process of choosing the worst possible response to this meltdown of our own economic condition!


Yesterday, as I drove around, dealing with my husband's problems, I couldn't help but notice all the abandoned factories, the houses for sale. Having our government take on $1.5 trillion a year EXTRA debt to deal with this is pure insanity! These factories are closed because the US opened its borders to infinite trade with not taxes on this trade! So we got this vile feed-back loop where the evasion of taxes destroys the government's bottom line in two ways as well as destroying the pay of US workers.


We are seeing our entire auto industry being rapidly reduced to $0 worth. The way this will be fixed is for auto workers to be reduced to the level of Chinese trade rivals or Japanese workers who have to compete with robots and are worked literally to death. Instead of expanding US union labor rights to Asia, we are aping Asia.

Continued>>>
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