eKonomee is about to hit a berg and guess who gets the lifeboat

History repeats.  

Ya sometimes.  In this case of the "bailout plan" what repeats is the same old slick sales tactics of fear, same old slick sales tactics of fear, same old slick sales tactics of fear, same old slick sales tactics of fear, same old slick sales tactics of fear.  

"If you don't do this or that you are doomed" they say, and then you buy their product.

"The economy" has been pushing along full steam ahead and now the captain says abandon ship.  The ship will sink he says.  People are screaming!  Oh my fucking god my 401k is sinking.

They keep using terms like bailout as if we are on a ship, we are not, we are not even on an iceberg with the Titanic heading right for us, we are on dry land, and the economy is not like a ship, it's THE ENTIRE FUCKING EARTH and the Titanic sank long ago.

It's like these politicians are claiming Earth is leaving it's orbit if we don't bailout.  The economy is not a ship.

THE ECONOMY IS SIMPLY WAY TOO BIG TO COMPLETELY GO BAD

The problem with A PART OF THE ECONOMY, A PART OF THE ECONOMY about the size of Manhattan,  is due to loans without collateral, multiple loans secured by the same properties, and other fraudulent instruments among the “troubled assets.” 

The claim is that bailout is necessary.  

Dogwash.

Bail-out without due diligence of so called “troubled assets” is a perfect way to hide documentation of financial crimes. 

It is also a perfect means to launder both the past ill-gotten gains and new federal money spent recklessly and without necessary safeguards and oversight mechanisms. 

"We just can’t tell what’s in these troubled assets"

"We are not sure if this will work but this is what we need"

Snakewash.

We can assure you the federal government has field offices all across the country that deal with significant amounts of real estate and mortgage assets. If Treasury refuses for more than a decade to comply with the laws, with approximately $4 trillion missing (and counting), it is not competent to manage $700 billion of taxpayer money while its arm is twisted by Wall Street.

Oh, pardon me I have to make a call......

We need to get stolen money back from the banks that served as depositories for the US government (including trillions for which the Pentagon and HUD could not account) and punish them, not create another opportunity for them to game the system and engage in criminal enterprises to rob consumers. To the extent there has been regulatory wrong-doing, let’s not let the miscreants leave town with the evidence.

A bail-out provides no way for honest leaders to come to the fore and use their creativity and expertise to restore balance and integrity to the system or for unproductive and poorly-managed banks that contribute to current over-capacity to die a dignified death.

Spending massive amounts on non-productive uses (“buying” worthless credit default swaps, mortgages with no collateral, other derivatives, that could even include the derivatives used to manipulate the precious metals markets) as opposed to productive uses (repairing infrastructure, creating alternative energy systems, supporting inventing and production of “green” products) is inflationary.

As it stands, the Senate is SOLD!  Highest bidder of lifeboats to people on the shore for the impending tidal wave that might come here.  700 billion dollars for lifeboats that might be needed when all people have to do is go to higher ground.  

I mean comon' when did government handle things efficiently and appropriately.  Space program maybe?  Sure.  Katrina?  Mess.  War?  Bigger mess.  

And who started this request, president Bush who we all trust?

In God We Trust, not Bush, Paulson, Bernanke, or banks.