Detailed Analysis of My Position on the Financial Bailout
Kay Granger took campaign contributions from Morgan Stanley and the American Bankers Association, amongst others. She then voted to give your tax dollars away by voting for the Bailout Bill (HR 1424). Morgan Stanley was one of the firms that received cash from this bailout fraud. This is the most repugnant thing Kay Granger has ever done to the taxpayers in her district, and why I'm trying to see to it that she doesn't ever have the chance to stab us in the back again.
The fact that your tax dollars went to foreign banks is despicable. I will propose legislation that America never again be legally allowed to transfer money to a foreign nation to pay off private debts. If individual firms wish to be so reckless with their money, that’s fine. I just don't want the taxpayer ripped off like this again. Voting for this Bailout Bill (HR 1424) was the worst thing Kay Granger ever did to the citizens of her district. But, in my opinion, she had to sell the voters out. She has taken large amounts of campaign cash from the American Bankers Association and Morgan Stanley, amongst others. Morgan Stanley, in turn, received government cash directly from HR 1424. Can any human being who takes thousands in campaign contributions from various corporations be suited to make objective decisions that will impact these firms? Of course they’re not, and that’s why, unlike Kay Granger, I will not take one dime from any corporation.
I believe that the American government’s ownership of private corporations is a violation of the United States Constitution, and certainly a violation of the trust we have given to these vile politicians. By definition, government ownership of private industry is Socialism/Communism. Furthermore, the way that it has been implemented by Obama is even more dangerous in that it has become a Totalitarian, Marxist system. What other classification could it be when Obama, by decree, asks for and gets the resignation of the chairman of General Motors? What else can you call Obama's badgering of Chrysler bond holders and the ultimate "shaft" they got because they were, by Obama's definition, "wealthy"? Redistribution of wealth is an Obama necessity and you and I will pay the price. I just never thought I would see the day when American tax dollars went to "bail out" foreign banks. I'm sure Kay Granger is happy with all of this, as she voted for it.
As you know, while Kay Granger was collecting more campaign funds, I was in and out of federal court in Fort Worth, trying to stop as much of this madness as possible. No, I'm not a licensed attorney, but given the fact that nobody else would fight these people, I decided not to let it go unchallenged. You can view my entire case and its filings on the link found on the homepage. Even though the Bailout Bill was a despicable collaboration of Democrats and Liberal "Republicans" who received major campaign money from the firms that benefited, it was legal. What was not legal, in my opinion, was the following: The Bailout Bill HR 1424 clearly defined who could receive this bonanza of taxpayer funds. It was strictly insurance companies, banks, and investment related firms only. A bunch more members of congress also took heavy money from automotive related firms, and of course they had to pay their donors back with your money. They proposed another bill, HR 7321, designed to pay off automotive related firms. Due to public outcry (of which I was a part) this second fraud bill failed to become law. Under the Constitution, no money could legally go to these automotive funds per Article 1 Section 9 of the Constitution. But that didn't stop the pigs in Washington from doing it. For the first time in American history expenditures of taxpayer funds were made without legislative approval. These same pigs knew that in time they would lose, so they intentionally rushed everything through as fast as they could. You guessed it. Virtually overnight the automakers got your taxpayer funds and then basically went bankrupt. This means they got your money scot-free. Utter insanity. It is true that after other house members were given various "gifts” called “earmarks,” they did get enough votes to pass it on December 10th, 2008. But the fact remains that they transferred your tax dollars prior to its passage. Furthermore, its passage ended up costing you more money, as now House members demanded and got earmarks (another scam which Granger and Hutchison participated in).
Now comes election time. Two Democrat senators in particular—Dodd of Connecticut and Reid of Nevada—as well as governor Corzine of New Jersey, are in serious trouble. Additionally, numerous house members, including Kay Granger, are also under some heavy pressure. I predicted that the Obama Administration will now go out of its way to mislead the American public into believing that this bailout fraud worked well. What a sad state of affairs. AIG, the biggest recipient, received a whopping $105 billion and wants more. Understand what they did with this money. They paid off claims of defaulted loans that they insured. They did not invest this money. They have no shot to recover it. The taxpayer is wiped out on this massive amount that went to AIG. A very knowledgeable analyst whom I love (Dan Colarusso) draws the conclusion that AIG is being used, in effect, as a money laundering vehicle by the United States government to make their campaign contributors whole. I fully agree, and I have linked to this article on my homepage under "Is AIG The New Money Launderer In Washington?" But let’s look at what else AIG did. They transferred $10 billion to Goldman Sachs. Additionally, Goldman Sachs received roughly $10 billion directly from the government. The government, in its unending attempt to control American industry, told these firms that their executive compensations (bonuses) would be capped if they didn't pay the money back. So in the case of Goldman Sachs, they paid back the $10 billion they got from the government, so now they can go back to “business as usual” with the inflated bonuses their executives get. I have no problem with any executive getting any size bonus they want, just so long as it's not with taxpayer funds. But what about the $10 billion Goldman Sachs got from AIG, who received this money from the government? You got it. Goldman Sachs is under no obligation to ever pay this money back. Another monster loss for the taxpayer.
The scam goes on and on. Fannie Mae, Freddie Mac, and various other dirt bag outfits received billions that nobody with any brains ever expects to find its way back into the Treasury. But Democrats and their Liberal "Republican" allies, like Kay Granger, still have the problem of elections and the fact that the public has caught on. Enter another scam. The government did in fact receive payment in full from Goldman Sachs and other recipients of these funds that don't want to be tied down in what they can pay themselves. So in the purest form of propaganda, the media is going to run the story every day until election day that the government "made money off the deal." Okay, let’s look at facts—those little things that always get in the way of Democrat lies. The Bailout Bill was $700 billion total. It is very likely that at least $400 billion will never be returned to the taxpayer—$105 billion to AIG, and other massive chunks to Fannie Mae, Freddie Mac, the automotive industry and others. The government got back an insulting $25 billion or so back. So let’s solidify these facts. The government loaned out $700 billion. They got pack roughly $25 billion with a gain of roughly $3 billion. Another $400 billion is almost certainly lost, and another roughly $200 billion is in doubt. Roughly another $100 billion still sits in the Treasury. But the government wants the people brainwashed into believing that just because they got paid back in the area of $25 billion, the plan has worked. Absolutely incredible. Recall where Goldman Sachs got the money to pay the taxpayer back—from the government’s other pocket, AIG. I totally predicted this; however, in an abstract way it shows how incompetent Obama is. If Clinton was running the show they would have put this garbage out two days before election day so that people like me wouldn't have a chance to expose it for the lie that it is.
In conclusion, Capitalism will always work and Socialism/Communism will always fail. The fact that we allowed our tax dollars to be flushed down the drain to these firms, as well as foreign owned banks, is truly sickening. HR 1424 also allowed government to take "managerial control" of companies, and this is a favorite strategy of Obama’s and his revolutionary "Czars." This hybrid of Fascism and Marxism threatens to destroy our nation in a very short period of time. This is why I hope that you will help me defeat the two ultra Liberal "Republicans" that allowed this to happen—Kay Granger and Kay Bailey Hutchison. As I mentioned earlier, another ultra Liberal "Republican," Arlen Specter also voted with Obama like Granger did. He at least had the decency to come out afterwards and change his party affiliation to the Democratic party. While his actions are an outrage, at least he was honest at the end. Kay Granger and Kay Bailey Hutchison should also be honest with the people of Texas and come out once and for all and change their party affiliation to Democrat.
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