Bailouts and the Need for Speed

October 2, 2008
by Stephen Neitzke

Millions of angry citizens shouted and screamed into Congressional staffer phones and emails. 228 of the House's Anti-Constitutional Criminals -- Republinazis and Demofascists -- splashed their lily-livered cowardice on the vote to use $700 BILLION of the citizens' money to bail out financial corporation criminals.

The Dow Jones plummeted 777 points -- a one-day all-time record -- amounting to a value loss of $1.2 TRILLION to investors. The plunge demonstrated the depth of fabrication masking the over-valued bear market.

The amazement that angry citizens still had any public-opinion power over the Anti-Constitutional Criminals of the US House was epidemic everywhere Americans gathered. The shock and surprise lasted into the wee hours of Tuesday.

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As usual, the 3-branch fascist despotism masquerading as our national govt has ordinary Americans looking at our big problems only from the govt's and the predator elitists' point of view.

We the sovereign people need to turn that around -- right now. We need to start seeing things from the ordinary people's point of view. Our survival in the very probable, near-future, derivatives crash and its consequent world-wide depression is at stake.

Thanks to the greed of the financial division of predator elitism, the global derivatives market is a monster of $677 TRILLION OUTSTANDING, jumping up and down on a annual gross world product of a mere $65 TRILLION. (Both totals are as of the end of 2007, according to the current quarterly report of the BIS -- Bank of International Settlements in Switzerland -- which is the top of the global central banking heap. See especially, "A dangerous bubble of derivitatives trading", Times of India, 29 September 2008.)

That is, 967 units of $700 BILLION each will fit inside the total of outstanding derivatives, the overwhelming majority of which are a house of obscene-profit cards already falling.

It is self-evident that the high risk derivatives market is crashing. Bear-Stearns, Leman Bros, and Merrill Lynch didn't slide away accidently. The US subprime mortgage derivatives and even-worse toxicidities are laced through packages of other more-common and more-traditional derivatives sold all over the world. All such packages are now "toxic paper". Whoever holds those packages loses on the face value. And, because of the CYA complexities built into some toxic paper, it is even impossible to know the value of many of those packages.

It seems ridiculous to think or imply that a mere $700 BILLION put into the hands of the wrong people -- US-based criminal financial corporations and the unconstitutional, mega-felonious Federal Reserve -- will prevent the derivatives crash.

A $700 BILLION bailout for US-based criminal financial institutions won't save anything worth saving. We can't stop the corporate losses undoubtedly sweeping us into a world-wide depression. But we might be able to save what's worth saving -- ordinary families, ordinary people, and their ordinary homes.

Charging back, the repudiated, castigated, and castrated national political leadership hollered everywhere that not letting them have their way would freeze credit, collapse international markets, and end the American national economy. Fear sells. More fear sells anything.

However, the list of their fear facets is surprisingly short and thin.

You've got your need for speed. Leadership needs this bailout done immediately so that the country does not go into some really bad financial stuff before the wonderful people in leadership can persuade the public to do the bailout anyway.

The word, 'depression', is never used. The notion that a leadership breast-fed bailout is inevitable reverbs all over the place.

The longer we delay the $700 BILLION bailout, they say, the more bank failures will happen. We've got to get this bailout back on track -- immediately. It's really important to save criminal banking operations. We've got to help banks rid themselves of toxic paper -- immediately. We've got to unfreeze credit so that businesses can conduct normal ops -- immediately.

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Wow. They really got that credit freeze up and running in a hurry, didn't they? It's leadership flashing the old "just saying a thing makes it so", double-whammy, fiction parading fiction.

Playing the social engeneering card, leadership and their brother elites warn that no rescue means job losses, personal financial security gone, no new school clothes next year, and really losing out to the Joneses.

Listen up, people. You're locked into a carefully crafted social engineering that that the superrich have spent a lot of money on. You think those corporate payrolls come cheap? Don't go getting all uppity on us now. Where's your appreciation, your loyalty, your patriotism? Now, you just do what we say, and everything will be OK.

Here's what's on tap for the Senate Strategy. We'll get everything together for an evening vote in the August Leadership's Very Own Senate. Watch out. The big dawgs are gonna tell you like it is. The scruffy little lap-yappers over there at the House need some guidance.

Oh, no -- we're not going to start from scratch to do some silly household bailout stimulus. We're gonna super-tweak what the House bombed with and show you how its done.

We just need to add some little things so that the few votes that we were short over there come winging home, putting exactly what we want in the old law books.

These aren't your little baby half-step tweaks. These are big honkin' 18-wheeler tweaks. They're gonna make Seanators salvinate all the way to the trough. We're gonna slap on an already-passed Senate bill that helps develop renewable energy -- you know, maybe in the next hundred years. That bill also shields lots of the right people from the Alternative Minimum Tax. And best of all, it extends a number of inconsequential tax cuts for families, as well as stupendous tax cuts for all the right people in businesses.

These tax incentives are wonderful stuff. Of course, the lap-yappers over at the House might have some trouble understanding, but, by Gawd, we'll show 'em how its done here in the Senate. They'll just have to keep up.

'Course, the two really big biggees were flown in special by party Poo-Bahs and Diebold Selection candidates McCain and Obama. Singing in unison in the Well, they demanded that all the Senators should vote that the FDIC protection cap on the superrich's bank deposits go up from $100,000 to $250,000 per account.

And then, in two-part harmony, the Bobbsey Twins demanded that accounting rules be liberalized for corporations holding toxic paper so that numbers can be massaged immediately, showing that global frauds are really not so bad afterall. Sure, 65 Reps and Senators demanded last week that SEC suspend the accounting rules indefinitely, so the Senators are used to thinking in those terms. And, sure, the SEC has already "clarified" the accounting rules' instructions, watering them down to way outside the letter and spirit of the law, but this is different. This is the big-dawg, by Gawd, Senate.

Why more rewards for the superrich, you ask? Dude. The taller FDIC cap means that the superrich can take all those piddling little $100,000 accounts, combine them into many $250,000 accounts, and get new loans based on the new equity. Never use your own money -- for anything. And when the superrich have the new loans, ordinary people from coast to coast will have the wonderful trickle-down.

Let's see. That old saw still works, doesn't it? Oh, yeah. There it is. The guy on Fox News just said it -- "trickle-down".

Now, the FDIC cap and accounting rules set-aside aren't the only growth items we've got working for Progress over here in the Senate. We'll also ratchet up the votes with provisions to suspend capital gains and reduce corporate income tax. Those are perennial vote-getters.

Demofascist Marcy Kaptur (OH) wants to set up an emergency financial crimes office. Haw-haw. Talk about your auto-marginalized bullshit. As if Justice would ever prosecute criminal acts perpetrated by the superrich and their bankers. That's rich. But it'll get us votes that the lap-yappers didn't get.

Check us out Wednesday night. We'll get this $700 BILLION baby passed and fire up the House for quick action.

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Getting it? The Senatorial tweaks -- and the votes of a few bought-out, sold-out fascist-thug Senators who routinely chop away chunks of the Constitution -- reflect how much public opinion really means in this country.

More To Come

Technorati Tags: Bailouts, Corporatism, Stimulus, Fascism, Economics

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Stephen Neitzke [send him email] is the founder of the Direct Democracy League. He is the author of "The State of the Republic, 1776-2004" as well as a number of other works, which can be found at www.ddleague-usa.net and on his blog at http://ddrevival.blogspot.com/

� 2008 Stephen Neitzke
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