September 28, 2008
There is a much hopefulness and glee inside of the New York Stock exchange in anticipation of the 700 billion dollars our Government Officials have decided “We the People” would be giving.
Abdullah Gul, left, president of Turkey, rings the opening bell at the New York Stock Exchange Friday, Sept. 26, 2008 in New York. With him is Duncan Niederauer, CEO of NYSE Euronext. (AP Photo/Mark Lennihan)
Outside it was entirely different story. The people rose up in protest of this government move toward Socialism. One of the largest transfers of wealth I have witnessed in my lifetime. The largest collectors of Wall Street campaign donations in Congress have rallied around their billionaire friends and are on the verge of pillaging the people to save their fellow marauders.
“We the People” rally in the financial district against the proposed government buyout of financial firms in New York City. At petitiononline.com, a group calling itself “Taxpayers Against a Wall Street and Mortgage Bailout” has attracted 13,865 signatures to an online petition to President George W. Bush and Congress opposing the bailout.
And some people warned us. In 2005, Fannie Mae revealed it overstated earnings by $10.6 billion and that it didn’t really know what was going on. The Bush administration pushed for reforms, but those efforts were rebuffed by Congress, with Democrats Barack Obama, Hillary Clinton, Barney Frank, Charles B. Rangel and Christopher Dodd taking point, because Fannie and Freddie have spent millions in campaign contributions.
The Committee that is charged with overseeing the Fannie Mae and Freddie Mac is run by Democrats and they have received millions of dollars in campaign donations in exchange for them turning their heads and letting these corporations create this crisis.
The same are leading the way in pushing the taxpayer bail out.
It has becoming crystal clear that our current leaders have turned their backs on the citizens in favor of their wealthy friends and chief financiers of their campaigns. They made rules that allowed them to accept millions in donations from people and corporations that they were hired to oversee. Its hard to use good judgement when you have millions of dollars in your back pocket from the people you regulate. They have ignored these corporations to run amuck for trillions of dollars in profits and now that the gravy train has run dry and their accomplices are left with nothing but a dry biscuit, they pick our pockets for 700 billion more all the while telling us its for our own good.
Ken Maddox, OneAngryMan.com