While I am not at all surprised that Fannie Mae and Freddie Mac were (illegally) seized by the US government over the weekend, I am disgusted. By seizing these mortgage companies, the US government has essentially bailed out a private company and the US taxpayer will have to pay the bill. Conservative analysts have put the debt at $200 billion dollars.
However, despite the Sarbanes-Oxley Act of 2002 that was intended to clean up Enron-style corporate corruption, rumors have been circulating that the accountants at Fannie and Freddie have been been more creative than a roomful of Seattle punk rockers on pot. A lot of analysts are now telling us that the "new" low number could be as high as $500 billion, and that when it is all told it could reach $1 trillion dollars of debt that is passed on to the American taxpayer. Our national debt has increased from $3-4 trillion dollars to $10 trillion dollars in the last 8 years. So, what's another $1 trillion dollars, really? Appaerantly, not much, by Hank Paulson's standards, the man largely responsible for this Constitutional violation.
I am outraged, but where could I constructively channel that emotion? This is not the first time this year that the government has gone far past the line... as they continually break laws, I know that the outrage will be numbed. It also has crossed my mind that not everyone is as obsessed with financial news as I am - probably a good thing. The point is... how many Americans even care that this has happened? How many Americans even realize how close we are to waking up one morning and finding ourselves in a socialistic/Communist-style regime (like China) or a fascist regime (like Britain in V for Vendetta)?
Something has to change. And, I fear, that we have perhaps waited too long. I fear that we might be past that place of no-return.
08 September 2008
22 May 2008
545 People (Republished)
Interesting article I came across...
545 People - by Charlie Reese
Politicians are the only people in the world who create problems and then campaign against them.
Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits?
Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes?
You and I don't propose a federal budget. The president does.
You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.
You and I don't write the tax code, Congress does.
You and I don't set fiscal policy, Congress does.
You and I don't control monetary policy, The Federal Reserve Bank does.
One hundred senators, 435 congressmen, one president and nine Supreme Court justices - 545 human beings out of 300+ million - are directly, legally, morally and individually responsible for the domestic problems that plague this country.
I excluded all the special interests and lobbyists for a sound reason. They have no legal authority.
Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con-game regardless of party.
What separates a politician from a normal human being is an excessive amount of gall.
No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits.
The Constitution, which is the supreme law of the land, gives sole
responsibility to the House of Representatives for originating and approving appropriations and taxes.
It seems inconceivable to me that a nation of 300+ million cannot replace 545 people who stand convicted -- by present facts - of incompetence and irresponsibility.
If the tax code is unfair, it's because they want it unfair.
If the budget is in the red, it's because they want it in the red.
If the Marines are in IRAQ , it's because they want them in IRAQ .
If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way.
There are no insolvable government problems. Do not let these 545 people shift the blame to bureaucrats, to lobbyists, and regulators Above all, do not let them con you into the belief that there exists disembodied mystical forces like 'the economy,' 'inflation' or 'politics' that prevent them from doing what they take an oath to do.
Those 545 people and they alone, are responsible.
They, and they alone, should be held accountable by the people who are their bosses - provided we voters have the gumption to manage our own employees.
545 People - by Charlie Reese
Politicians are the only people in the world who create problems and then campaign against them.
Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits?
Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes?
You and I don't propose a federal budget. The president does.
You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.
You and I don't write the tax code, Congress does.
You and I don't set fiscal policy, Congress does.
You and I don't control monetary policy, The Federal Reserve Bank does.
One hundred senators, 435 congressmen, one president and nine Supreme Court justices - 545 human beings out of 300+ million - are directly, legally, morally and individually responsible for the domestic problems that plague this country.
I excluded all the special interests and lobbyists for a sound reason. They have no legal authority.
Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con-game regardless of party.
What separates a politician from a normal human being is an excessive amount of gall.
No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits.
The Constitution, which is the supreme law of the land, gives sole
responsibility to the House of Representatives for originating and approving appropriations and taxes.
It seems inconceivable to me that a nation of 300+ million cannot replace 545 people who stand convicted -- by present facts - of incompetence and irresponsibility.
If the tax code is unfair, it's because they want it unfair.
If the budget is in the red, it's because they want it in the red.
If the Marines are in IRAQ , it's because they want them in IRAQ .
If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way.
There are no insolvable government problems. Do not let these 545 people shift the blame to bureaucrats, to lobbyists, and regulators Above all, do not let them con you into the belief that there exists disembodied mystical forces like 'the economy,' 'inflation' or 'politics' that prevent them from doing what they take an oath to do.
Those 545 people and they alone, are responsible.
They, and they alone, should be held accountable by the people who are their bosses - provided we voters have the gumption to manage our own employees.
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