Wall Street fleecing goes into hyperdrive

wall street stick-up
The Great American Swindle. $1T Bail out plan for Wall St. would give absolute power to Treasury Secretary Paulson, his decisions on how to spend the money would not be reviewable by Congress, or any court of law. This, after they included a provision in the $85B AIG bailout that lets financial firms use customer assets to insure solvency — which means they can borrow your stocks, bonds, CDs, money market acct., etc. — without your permission — and if they go under, you are just another creditor in bankruptcy court.

The GOP Disease. The “Party of Responsibility” morphed under Regan deregulation into Capitalist Anarchists, “failures are just the market regulating itself.” But now that that the financial institutions are failing (which the regulations were designed to prevent) they suddenly become Socialists — but only for the filthy rich. The other 95% of us are left on our own.

The bailouts of Wall St. brings to mind Republican president Ronald Reagan’s comments about “welfare queens driving Cadillacs,” but today’s welfare queens have private jets, enormous mansions, and multi-million dollar incomes. And that’s just fine with the GOP.

McCain declares war on the New York Times, for revealing his campaign manager was behind the deregulation that brought on Wall St. collapse.

Conservative George Will goes after McCain.

McCain lies. He said he supported Northern Ireland peace process, but he opposed it.

McCain opposes MidEast peace process.

Why is John McCain so afraid of Rachel Maddow?

Top Alaskan Republican, Senator Lyda Green says “Palin isn’t prepared to be governor. How can she be prepared to be vice president or president? Look at what she’s done to this state. What would she do to the nation?”

McCain’s chief of staff outed as gay. Suppose Sarah Palin will demand he be burned at the stake? Or will she just shoot him and mount him on the wall of her den?

Rush Limbaugh says Obama isn’t black, he’s Arab.

Fool us once … we won’t get fooled again. Polls: “by a two-to-one margin Americans blame Republicans for the current financial crisis.” 82% say the economy is getting worse (0% say it is getting better), and only 28% support the bailouts. Not that the politicians, bought and paid for by Wall St., give a damn what we think. Oh, and 54% say the US is losing the “war on terror.”

Excerpts from Thomas McCullock’s Sept 23 notes, thomasmc.com.

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