US Taxpayers Violated
The Looting Operation Continues
by Dr. Chris Martenson | November 11, 2008
I am trying to maintain a very level-headed approach to the changes that we are seeing. us taxpayers violatedHowever, from time to time the looting operation becomes just a bit too obvious, a bit too overt, and I find my level of cool slipping.
This is one of those times.
Here are the dots that I am connecting that have me concerned, if not angry.
Remember, even prior to its passage, I called the bailout the greatest looting operation of our time. I did so because the language of the Bailout Act, as originally proposed by the former CEO of Goldman Sachs, er, I mean the Treasury Secretary, requested three things: unitary power, no review, and no limits.
Frankly, it was the most plainly-worded document of theft that I had ever seen, and probably ever will see, in my life (because it was too blatant and such mistakes are rarely made again).
After that draft was defeated in the House, the Senate immediately attached a much denser 300+ page version of the bailout bill to an existing piece of legislation and passed it. The house caved after an intense week of lobbying by both banks and the people of the land, who were diametrically opposed on the issue. Naturally, they caved to the banking interests.
But We The People won some symbolic victories in that battle, including the explicit promise of complete transparency in the use of that money.
SNIP
The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
by Dr. Chris Martenson | November 11, 2008
I am trying to maintain a very level-headed approach to the changes that we are seeing. us taxpayers violatedHowever, from time to time the looting operation becomes just a bit too obvious, a bit too overt, and I find my level of cool slipping.
This is one of those times.
Here are the dots that I am connecting that have me concerned, if not angry.
Remember, even prior to its passage, I called the bailout the greatest looting operation of our time. I did so because the language of the Bailout Act, as originally proposed by the former CEO of Goldman Sachs, er, I mean the Treasury Secretary, requested three things: unitary power, no review, and no limits.
Frankly, it was the most plainly-worded document of theft that I had ever seen, and probably ever will see, in my life (because it was too blatant and such mistakes are rarely made again).
After that draft was defeated in the House, the Senate immediately attached a much denser 300+ page version of the bailout bill to an existing piece of legislation and passed it. The house caved after an intense week of lobbying by both banks and the people of the land, who were diametrically opposed on the issue. Naturally, they caved to the banking interests.
But We The People won some symbolic victories in that battle, including the explicit promise of complete transparency in the use of that money.
SNIP
The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
