September 23, 2008 –
The administration, and both isles of the House and Senate, are pushing a "bailout" bill for $700 Billion - and possibly more - with nearly zero accountability as to where and how the taxpayers' money is distributed. In the three-page bill, Treasury Secretary Henry Paulson is given absolute authority to disburse the funds as he deems necessary WITHOUT REVIEW OR RECOURSE by Congress, the Courts or the administration. In other words, it's a blank check, payable to any firm, person, country or bank that "Hank" wishes, and the taxpayers can do nothing about it, nor even know for sure who got paid, nor take any action whatsoever to punish anyone who misappropriates those tax dollars.
In other words, the United States of America, and the 535 elected officials running it, have abandoned the Constitution and have elected a King to spend a year's worth of the Federal Budget, unchecked by anyone. Meanwhile, the Democrats are trying to hang this on the Bush administration, even though they are the party in power, responsible for "oversight" of more than 50% of all mortgages in this country (thru Fannie Mae/Freddie Mac), and have done nothing to reform the very organizations that caused this financial meltdown. Attempts to reform these organizations during the Clinton administration (and a Rebublican Congress) were largely blocked. Meanwhile, the two largest recipients of campaign contributions from Fannie Mae and Freddie Mac are the committee chairman for oversight of these organizations and a current presidential candidate and member of the Senate. Both Democrats. [more]
