Friday, October 31

Remember this? It's just a shell game

Earlier this year, when Ron Paul was still a presidential candidate and few in the MSM (megalomaniacal sadistic media) took him seriously, he posed a question to McCain, to which McCain responded as if he were without a clue.

REP. PAUL: My -- my question is for Senator McCain.

This is an economic question that I wanted to ask. It has to do with the President's Working Group on Financial Markets.

I'd like to know what your opinion is of this and whether you would keep it in place, what their role would be, or you would get rid of this group. And if you kept the group, would you make sure we would see some sunlight and know what they're doing and how they're being involved in our markets?

SEN. MCCAIN: Well, obviously we'd like to see more sunshine.

But I as president, as every other president, rely primarily on my secretary of the Treasury, on my Council of Economic Advisers, on the head of that. I would rely on the circle that I have developed over many years of people like Jack Kemp, Phil Gramm, Warren Rudman, Pete Peterson and the Concord group. I have a process of leadership, Ron, that is sort of an inclusive one that I have developed, a circle of acquaintances and people that are supporters and friends of mine who I have worked with for many, many years.

REP. PAUL: So you'd get rid of the group?

SEN. MCCAIN: You remember back in 1982 when Phil Gramm -- Phil Gramm and Warren Rudman and Gramm-Latta and all of those people got the first real tax cuts done, the real -- first real restraints in taxes. I was there. You were there. And I rely on those people to a much larger degree than any, quote, "formal" organization, although the secretary of Treasury is obviously one of the key and important posts that I would have.
Well, we all know that government has been busy of late, with their prevarications:
To keep up appearances, particularly in an election year, the Paulson "Plunge Protection Team" has been authorized by presidential order to use U.S. taxpayer money to manipulate markets to make them appear healthier than they are, and lately it has been working overtime. But official assurances of a "soft landing" are mere window dressing, aimed at preventing another worldwide depression as home buyers and stock market investors continue to stampede for the exits.
Here's the bottom line on Paulson's $ 700 billion blank check according to John Dunbar, The Associated Press: "First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets. Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again. But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it."
And the administration is supposedly leaning heavy on banks to loan money. Get it out into the market to help the people, they claim.

Yeah, right. All the noble sounding reasons the politicos provided to support such a canard upon the public don't hold water now that this stimulus package becomes fleshed out. Can anyone really think this bailout was really about saving jobs, businesses and the middle class in the first place? If government is not your friend then it's your...

Check: http://www.plungeprotectionteam.com/