$700 billion theft

There are a few things that are very important to understand about our $700,000,000,000 Congress-approved taxpayer bailout of the financial industry. First, the $700,000,000,000 does not exist. It is a figmentation of a financier’s dream. This is NOT taxpayer’s money. Our taxpayer money goes to pay the salaries of the financiers who have dreamed this dream. With the extra $700 billion, the Wall Street bailout now exceeds $1.5 trillion. The entire federal budget is only $2.9 trillion (not counting Iraq and Afghanistan, of course). Where is this “money” coming from? It’s coming in as foreign credit, then given to the corporate elite of New York and Washington DC, and handed to us as a pile of debt. And it stinks. It stinks very badly. Second, the estimated “toxic debt” is $2-3 trillion. This $700 billion pocket change is only the next installment in the bailout process. Third, the housing crisis is predicted to get worse. The $700 billion does nothing to address what Fox News reports will be 2 million foreclosures in the next 2 years. Fourth, who else other than Bernie Sanders, Ron Paul, Dennis Kucinich and Ralph Nader thought of the basic morality of giving a virtual blank check to be spent on the greedy beasts that created this problem in the first place? If you want to promote economic growth, then spend the “money” on growth, not the toxic scum of the economy. Ultimately, this will go down as the greatest theft in history. The corporate elite will once again get away with this crime using the federal government, basic fear and public ignorance to preserve their privileged way of life. What does that say about us?