Fred Martinez's Monitor

Republican Hensarling: “Once the Government Socializes Losses, it will soon Socialize Profits"

http://conniebryan.wordpress.com/2008/09/29/house-of-reps-rejects-bail-out-bill/

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Wow…there’s still at least a shred of democracy left in America! The House of Representatives appears to have actually LISTENED to the American people and rejected this corrupt ‘bail out’ of Wall Street. Let me just say the ONLY ‘bail out’ that should even be considered ought to only involve the JUDICIAL branch, not the legislative and executive branch…It should only involve a federal judge trying to figure out whether or not all of these corrupt Wall Street executives responsible for their criminal corporate fraud should be allowed to be ‘BAILED OUT’ of JAIL!

I heard a guest of George Noory’s on “Coast to Coast” on the radio point out that if the purpose of this $700 Billion bail out is to strengthen the economy and help all of us struggling common folk, then it could much more wisely be used by giving it directly in portions to every American citizen 18 and older. Then we would all as consumers be able to spend and spend, save our mortgages, pay our credit cards down, buy new cars and lots of purses and shoes, splurge on chocolate at the mall (as you can see I added a couple the guest left out), go out to dinner a lot, etc. This guest pointed out that $700 billion would be a grossly excessive number for such a ‘bail out’ of Americans, as that number would actually come to more than a million dollars per adult (that’s how much money that is)!! In other words, a much smaller number portioned out to Americans would accomplish the job of saving the economy.

But the truth is this ‘bail out’ has nothing to do with helping MAIN STREET, and everything to do with helping a select, fair-haired corrupt few elite CEO’s and executives on WALL STREET. The American people have had it with this corruption. We would rather see the whole ‘house of cards’ (they’re all JOKERS by the way) come tumbling down, and start over the way our forefathers intended…we’d rather that happen than to ‘bail out’ the people whose corporate fraud and greed caused their own bankruptcies.

The hypocrisy in all of this is, these ‘jokers’ would scream like banchees if the government ever tried to regulate how much PROFIT they made, yet they scream like banchees demanding the government not just regulate their LOSSES, but REVERSE THEM and hand them upwards of a TRILLION dollars (when you include the government’s takeover of Fannie Mae and Freddie Mac, and the bail out already of A.I.G.)! Look at this quote from Texas Republican Representative Jeb Hensarling, in voting to reject the bail out: “Once the government socializes losses, it will soon socialize profits. If we lose our ability to fail, we will soon lose our ability to succeed. If we bail out risky behavior, we will soon see riskier behavior.”

I’m proud of Rep. Hensarling for taking a stand that Democrats like Nancy Pelosi should have taken from the beginning. But even Rep. Hensarling is sugar coating this a bit by using the word ‘risky’ instead of ‘dirty’… or ‘corrupt’… or ‘fraudulent’… or ‘criminal’.

What has been going on on Wall Street…what has been subsidized for too long by corrupt politicians in bed with these ‘jokers’ who have created this house of cards, has been destroying the AMERICAN DREAM for Amerians on Main Street. In other words, Wall Street (and Walmart) have been destroying everything that our founding fathers intended for America. They did not intend for ‘free enterprise’ to be ‘FRAUD ENTERPRISE’ or a threat to small business. The American Dream was MEANT for Main Street. Now it is almost unacheivable because of NAFTA, CAFTA, the outsourcing of almost all our manufacturing jobs, the destructions of Mom and Pops by Costco and Walmart that sell almost entirely Chinese made cheap products in order to kill small business and competition. The result of this is that Wall Street executives who’ve masterminded this, along with their elite stockholders, many of whom don’t even live in the U.S. and have offshore tax shelters, reap huge profits while you think of taking a third part time job as a door greeter for one of the un-American companies that is at the root-cause of the destruction of the American Dream.

This issue goes beyond partisan politics, and can unite Democrats, Republicans, Libertarians, Greens and Independents alike. That is because Wall Street has become the biggest threat to that American Dream that is common to all of us across all party lines. I thinkmany Democrats have supported this ‘bail out’ when they shouldn’t have because they bought into the scary rhetoric by the Bush administration that it was needed to help Americans. This is a lie, just like the scary rhetoric used by the same administration to catipult us against the wishes of the G-8 and the U.N. into the War in Iraq. Again, an act that severly hurt America both economically and foreign policy-wise. What WOULD help Americans is not to ‘bail out’ the current ‘crackhead’ model of Wall Street, but to mount a huge ‘intervention’ and REHABILITATE Wall Street! A return to a Wall Street that is once again all about Main Street… American jobs, small business and manufacturing, instead of about OUTSOURCING jobs, BIG BOX MONOPOLY MOM and POP KILLERS, and ‘derivative speculation’ (in other words, usually fraud).

It’s time for a new, non-violent revolution to take America, and the American Dream, back from Wall Street and WalMart. Maybe our House of Representatives have fired the first shot, figuratively speaking, thanks to so many of you who rang their phones off the hook. DON’T STOP NOW!


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posted by Fred Martinez @ 9:39 PM