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President Bush and most of congress for rushed for the bailout like tomorrow wouldn’t exist without it. They did their best to convince us that without that trillion dollar bailout that the markets were going to crash and that a great depression was on it’s way. We didn’t buy it but our congress did. Instead of denying Wall St. an excuse to continue in it’s corrupted ways that caused their down fall the men and women we voted into office proudly voted to give away our hard earned tax dollars. They figured that an initial $700 billion wasn’t enough money to waste and the Senate gladly threw in $100 billion in earmarks to top it off nicely. Sprinkles anyone?

Sadly I have to admit how wrong I was. The bailout was actually successful in–what–the markets aren’t flourishing? They continue to fall even though the magic pill was swallowed! No way! So after the urgent, get it done now, bailout was past President Bush decided to change pace and explained why it wasn’t working, yet.

“We have shown the world that the United States of America will stabilize our financial markets and maintain a leading role in the global economy,” he said.

Really now? The Dow has dropped 21 percent in just the past 10 trading days. I wonder when this magical bailout is supposed to work? After the recession is done walking home owners out of their houses? If this bailout bill was so damn urgent why isn’t it working now? Why all of a sudden do we have to patiently wait for it to work? If that was the case why did we do it at all? Why not just let the market crash instead of spending a trillion dollars on the market while it still crashes? Am I insane or is our government bending us all over for it’s amusement?

As we watch the local and global markets crash and we recover from the soreness we have to really look at what just happened to us. It’s clear that the corruption has not been fixed. Like dumping gasoline on a camp fire it has only gotten a million, or should I say a trillion, times worse. Maybe I’m just a little upset. Maybe these people behind the companies really do care about us little people. In reality, I’m sure they have managed their money well and will be doing their best to make sure this never happens again.

But you know I’m just kidding. What did AIG do after it received it’s check from sugar daddy government? They Went on vacation of course!

Days after it got a federal bailout, American International Group Inc. spent $440,000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company’s meltdown.

How nice. I hope you guys had a good time!  What do you think the fed did to reprimand these people? I bet they went right over there and demanded an explanation. Yeah right.

The Federal Reserve Board said Wednesday that it would provide up to an additional $37.8 billion to the insurance giant, the American International Group, to help the company deal with a continuing liquidity crisis.

What did the former head man from Fannie May do to celebrate his former companies recent successes? He bought a house!

Franklin Raines, the former top man at Fannie Mae, bought a three-bedroom, seven-bath penthouse condominium in the West End’s Ritz-Carlton Residences for $4.9 million. The condo has a rooftop terrace with a hot tub, a butler’s pantry, and three parking spaces. Raines, director of the US Office of Management and Budget under President Clinton, was CEO of Fannie Mae from 1999 to 2004.

Regulators have said that of the $90 million paid to Mr. Raines from 1998 to 2003 at least $52 million — more than half — was tied to bonus targets that were reached by manipulating accounting,” The New York Times reported two years ago.

So while the corrupted keep living high off of our dollar we’re just going to sit back and watch. I may laugh a little, I may, as the markets come crashing down. Not because I am happy that people are losing their houses or because the tax payer is being raped but because these wealthy individuals will not feel a thing. They won’t feel your pain when you lose your life savings and can’t retire. They won’t even blink as you stare at your house from the box you are now living in down the street. Nope, they won’t feel a thing and you know who you have to thank for that? Your government.

While Barack Obama is running around telling you how much the government should be in control of I want you to think back to all of this. Can we afford the government to be in control of anything other than what’s necessary? I don’t think so. I’ll even bet Wall St. on it. After all, what do we have to lose?

Related Posts

• Let Them Fail
• How is Your $700 Billion Being Spent?
• The Pork in the Bailout Bill
• Congress Wanted This Bailout. Let Them pay for It.
• The House Has Spoken: “Bend Over” Roll Call Added

Tags:  AIG Fannie Mae Government Bailouts