Bush, Paulson, and Bernanke Fiddled while America Burned

I'm no financial genius, nor do I claim to be. However, I can't help but scratch my head like a bewildered chimp in some science experiment when I think how any one of our elected financial officials could not have looked at some of the tally sheets and seen when all these bills were coming due. If a lowly financial analyst on Coast to Coast AM can predict the meltdown accurately to the month including the point drop of the DOW into the 8000 point range a year or two in advance of this calamity, then what did the Bush administration know and when? I am astounded (but not surprised) that President George W. Bush and Co. not only let this train smash into Grand Central Station he kept his foot hard on the throttle and stoked the engines to this doom. Through ignorance (a Blind man could have done better) inaction, inattention and neglect the American People were left to ride this train to their peril. At the critical moment the Bush Administration again played the "Doom and Gloom" card as they have so many times these past 8 years and the Bankers and Insurers got a 750bn Bailout $338bn of which has already been pledged or spent. The Executives get to keep their existing Corporate Bonuses and Golden Parachutes, The Lawyers get $25bn to Represent Homeowners restructure their loans in the Mortgage Bailout, known as the "American Housing Rescue and Foreclosure Prevention Act of 2008".

Aside from the $300 -$600 each taxpayer received through the 2008 Stimulus Package, which the Bush administration encouraged we go out and spend to help drive the Economy; the Working Class got screwed except for the Window Factory Workers in Chicago who refused "to go quietly into the night" when they lost their jobs. These casualties of the ineptitude and negligence of this administration were not about to stand for the callousness of a Banking Institution that just got it's bread and wasn't about to share it. Nor were they going to be shut out in the cold to press their noses against the windows of the factory executives who had so rudely given them 3 days notice. Instead, These Chicagoans, took a pane, (clearly), of history and protested their plight to the nation by staging a sit-in as did the union workers of a bygone era. This was no $750bnn Dollar "Magic Money Grab All You Can Booth" they climbed into and came out rich, but the rest of Middle Class and Blue Collar Working Americans need to take note of this righteous indignation and the victory the battle brought. Why weren't the Truckers hauling their Semis onto the National Mall in a Parking Protest to get Congress's attention when gas was almost $4.00 a gallon? WAKE UP AMERICA! Change is coming and we can shape history, the workers of Republic Windows and Doors is a fine example of what is possible when you rally around a cause. Yes, even a mouse can roar! I have become a Rabble Rouser having seen the outgoing administration still pursuing "Trickle-Down Economics" policies when people are thirsting for direct relief. Did I mention Condi plays the Piano?
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Death of an Auto Bailout in the United States Senate

I am saddened by the failure of the United States Senate to pass the $14 Billion Auto Bailout measure this past evening. While certainly not perfect nor entirely to my liking for there are many points of constraint I would like to see the Auto Industry be forced to concede in order to make the industry more innovative, Like giving us a "Car of the Future" when they bother to show them off each year at the Annual Detroit Auto Show. but I digress; while competitiveness is the key to success, fiscal oversight and guidance is imperative. Should the Bush Administration now turn to $750 Billion TARP to perform a Bailout, there will be 5 weeks of Treasury Secretary Paulson throwing money in the air to the ballyhoo of Jet-setting Auto Executives. This is what we face when we could have had a Car Tsar with some Bankruptcy Judge-like powers to help guide the market restructuring and fiscal direction of these Corporate Behemoths Jockeyed by casualties of the Peter Principle. We can always hope for the next Tucker of the Auto Industry, until then let's pray for our Blue Collars and their Families who rely on Detroit and for the Senate to not squander their dedication and talents. Click Here to Read More.. Sphere: Related Content