The newest smear campaign from the McCain out of control campaign is to call Barack Obama a socialist. They claim his sound bite to "redistribute" wealth makes him a marxist. This, of course, is not true and, of course, they know that but they feel if they can scare you enough maybe, just maybe, you will not vote for him.
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However, that is a diversion. In that case, the McCain campaign is trying to spin something that is not true and has no basis in fact. Now, let us take a look at what the Republicans are really doing (not saying). What they are doing is the largest transfer of wealth in American history. It is from poor to rich and it is, in some cases, from Americans to non-Americans. It is the "bail out". AP reports:
The bailout is now the hottest lobbying game in town.
Insurers, automakers and American subsidiaries of foreign banks all want the Treasury Department to cut them a piece of the largest government rescue in U.S. history.
Notice the line about "American subsidiaries of foreign banks". That is code word for foreign banks, in some cases owned by or run by foreign governments, will be getting YOUR tax dollars in a hand out. In a September 21 piece on The Command T.O.C blog, I warned this would get used to bail out foreign banks and now, here it is. Remember, log this day, these are REPUBLICANS doing this. It is a REPUBLICAN administration who is administering these dollars. They continue to tell you this will create American jobs but you tell me, how will a job be created in Michigan if we bail out the bank of Brazil? It makes no sense and as Judge Judy always says, "If it doesn't make sense, it probably is not true".
This is a bail out of banks where fat cat's have money and they are worried if they are not bailed out then their money may go "poof" overnight. Which is exactly what should happen. The President of the Financial Services roundtable says the following:
"Referring to U.S. subsidiaries of foreign companies, Bartlett said, "This is a global crisis and to not recognize the U.S. firms controlled by foreign banks or companies would create further impediment to the market's recovery."
And there you have the real sad and honest truth; this facade the Republicans, controlled by the neo-cons have put up over the last few years called "globalization" has led to this. Read that quote again: "U.S. firms controlled by foreign banks or companies".
What has occurred over the last 8 years has been the whole scale sell out of the U.S. economy. We have no production capabilities anymore (so, I ask, where will these "jobs" come from in the "recovery") and the financial portions of our companies are controlled by foreign banks. The Republicans have diverted your attention with the base instincts of human kind - war and survival - while they have allowed their crony friends to strip the Country of its treasure so they can line their pockets.
This is the true welfare of the last 8 years.
A financial industry official said Treasury Secretary Henry Paulson met over the past week with various groups, including hedge fund managers, that were petitioning for assistance. The official spoke on condition of anonymity because the Treasury has not made a decision."
Can you believe this? He is meeting with "hedge fund managers" who are petitioning for assistance. F**k the hedge fund managers! They are punks and low lifes and for all I care they can die on the street homeless and hungry. They have caused this mess. They are now at the Government tit looking for a hand out? I remember when we were discussing the huge tax advantages these punks have and the story from the far right loons was that they are "hard working" and "providing capital" so they should get benefits. Well, they got their benefits and now they should just go away.
Finally, as you continue to read about this bail out ask yourself a few questions:
What part of this bail out will help YOU keep YOUR home?
What part of this bail out will help YOU RETIRE on time?
What part of this bail out will help YOU pay for YOUR Medical bills when something goes wrong?
What part of this bail out will help YOU get a JOB when unemployment hits 10% plus?
What you will quickly find out is that NOTHING in this bail out will help that. What this bail out will do is help your out of control bank get back on its feet so it can crank up the foreclosure notices on you and lecture you about how you got in "over your head".
You will hear the Republicans talk about how YOU need to "pull yourself up by the bootstraps" and how we do not need any "transfer payments to YOU". You will hear them say YOU should take personal accountability and how the Government is not there to stop YOU from making dumb mistakes.
But, as we learn more and more about this bail out, what Government apparently is there for, in the eyes of the Republicans, is to bail out the very wealthy and use YOUR tax dollars to pay for it.
One other addition: As if to say, "Screw you", who does the Republican Government appoint to administer the hand out of money to the rich? A 35 year old, 6 year out of college GOLDMAN SACHS alumnus. Now, are you telling me he is the best person to do this?
Now that is a Socialism and Marxism of a different kind!