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Can we get a bailout from the banking bailout?

December 21, 2008

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It has become increasingly common during the Bush administration to give out bailouts.  Let’s not forget Amtrack or the Airport Security bailout that received a whopping $29.8 billion back in 2001.  It’s funding was twisted up in the Anti-Terrorism bill.

What did we get for that money?  The rail way infrastructure is still f__ked up and airport security is still just as pitiful.  Granted the airline industry bailout gave the government back anywhere from $141.7 million to $327 million.  But let’s face it, we Americans have been bailing out our country for years.  Going back as far as 1970.

Nevertheless, the only way to describe Bush’s bailout for the banking system can only be described as scandalous at best.  It is looking more and more like a bailout to keep the rich rich.  Let’s see…hm…no transparency, plenty of loopholes, no accountability, and no need to unfreeze credit.  Yea, I’d say that was the bailout of all bailouts.

Why wasn’t a refund clause included?  I damn well want my money back.  Yet, at the same time I had to listen to the GOP act as if giving a bailout to the auto industry was tantamount to self destruction?  Why is it we allow this quackery to go on?  Let’s just give it to the rich and fight tooth and nail when it comes to actual workers?  Please, enough with the BS.

Unlike the bailouts we’ve given in the past, this new banking bailout with its many loopholes and lack of regulation have the potential of giving us the least amount in payback.  On the other hand our bailout to the car industry (Chrysler) in the past did yield a substantial return of $660 million for the government.

I think its time that we got a bailout from the banking bailout.  I can only hope that congress will not give Paulson or Bush any further access to the remaining money ($350 billion).  Such clowns and circus freaks should not be given a reason to F__k up further.

Enough said.

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