Taxation without representation? That's the way I see it!
The New York Times March 12, 2009 Household Wealth Falls by Trillions In the last few months, most Americans have felt poorer. Now they have the numbers to prove it. The
Federal Reserve reported Thursday that households lost $5.1 trillion,
or 9 percent, of their wealth in the last three months of 2008, the
most ever in a single quarter in the 57-year history of record keeping
by the central bank. For the full year, household wealth dropped
$11.1 trillion, or about 18 percent. Though the numbers do not yet
reflect it, the decline in the stock market so far this year has
probably erased trillions more in the country’s collective net worth.
The Washington politicians love to tell us they're for cutting taxes, but what they don't tell us is they will turn a blind eye when Wall Street uses our savings to keep the economy going with risky ventures.The creative financing of homes by Wall Street helped get us out of the 2001 recession and guess who paid for it! We did! Not with taxes but with our savings and 401K's.
CBS News "Meltdown" Blames Feds For The Crash "Fed chairman Alan Greenspan sought to reignite the economy through a series of rate cuts... the new money and credit overwhelmingly found its way into the housing market, where artificially lax lending standards made excessive home purchases and speculation in homes seem to many Americans like good financial moves."
I suggest there was a 2001 economic stimulus plan and it was financed with our savings and 401k's and that's taxation, $11.1 trillion tax increase, without representation. Our DemocracyCorporatocracy at work!
Opinion When a bank is robbed the local police and the FBI will have enough people at the scene of the crime to eat the place in a matter of minutes. So what happens to AIG when they come close to bringing down the entire American economy? We give them money, $180 billion of our tax dollars, and the FBI is nowhere to be seen.
March 16 (Bloomberg) -- Obama administration officials and lawmakers lambasted plans by American International Group Inc., the insurer rescued by the government, to dole out $1 billion in bonuses and retention pay to employees.
AIG seems to be saying give us what we want or we're going to destroy the United States of America because we're to big to fail and we seem to say OK we'll give you what you want plus a bonus. Hell these folks seem to be in the same league as the Mexican drug cartel and one could easily conclude that AIG is using terrorist tactics and blackmail and I don't say that lightly. Wars and revolutions have been started over less and if terrorist or a foreign country did this to us we might be at war with them now. So does this mean if we rob a bank and get caught we can expect a bonus? I don't think so but that seems to be the message we are getting from the folks handing AIG our tax dollars.
Before going any further please check this link: The Black Hole: AIG Ok AIG gets another $30 billion and I guess we can expect them to have another party for their executives or perhaps a round of golf. The latest $30 billion raises the total hand out to these welfare executives in suits and ties to $180 billion. With about 113 million households in the United States AIG's $180 billion gift is costing each household almost $1,600. That sounds like a holdup to me or could it be that AIG is blackmailing the United states of America by saying we're too big to fail and if you don't give us more money we're going to drag you down to the stone ages. Hell that sounds like terrorism to me. So how did we get to this point where Wall street and insurance companies have screwed us out our 401k savings and are holding the United states of America for ransom? It might surprise you to know that the Bush administration was aware of what was going on as far back as 2002.
seattlepi.com "It is clear that we had good intelligence on the mortgage-fraud schemes, the corrupt attorneys, the corrupt appraisers, the insider schemes," said a recently retired, high FBI official. Another retired top FBI official confirmed that such intelligence went back to 2002. The problem, according to the two FBI retirees and several other current and former bureau colleagues, is that the bureau was stretched so thin that no one noticed when those lenders began packaging bad mortgages into bad securities. "We knew that the mortgage-brokerage industry was corrupt," the first of the retired FBI officials told the Seattle P-I. "Where we would have gotten a sense of what was really going on was the point where the mortgage was sold knowing that it was a piece of dung and it would be turned into a security. But the agents with the expertise had been diverted to counterterrorism." Both retired FBI officials asserted that the Bush administration was
thoroughly briefed on the mortgage fraud crisis and its potential to
cascade out of control with devastating financial consequences, but
made the decision not to give back to the FBI the agents it needed to
address the problem. After the terrorist attacks of 2001, about 2,400
agents were reassigned to counter terrorism duties.
AIG gets another $40 billion from tax payers and gather at the lush Pointe Hilton Squaw Peak Resort for a $343,000 conference with all of the amenities.
ABC News Reporters for abc15.com (KNXV) caught the AIG executives on hidden cameras poolside and leaving the spa at the Pointe Hilton Squaw Peak Resort, despite apparent efforts by the company to disguise its involvement. "AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property," KNXV reported. "AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property," KNXV reported. A hotel employee told KNXV reporter Josh Bernstein, "We can't even say the word [AIG]." Click here to read more and see the video.