Lemon Socialist BAILOUT O’RAMA!

Well Cricketeers, those brilliant scions of free market capitalism in washingtOOn have thrown the doors of the US treasury WIDE OPEN and invited all the failed management corpoRATeers to help themselves to as much taxpayer funded loot as they can make off with! This from cnnmoney:

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Yet another bailout – Taxpayer tally

Big bailouts are in the headlines, and Washington is pledging a lot of money. But what’s the real risk to taxpayers?

By Jeanne Sahadi, CNNMoney.com senior writer
September 18, 2008

NEW YORK (CNNMoney.com) — The numbers are big. That much is certain.

The Federal Reserve has backstopped the purchase of Bear Stearns to the tune of $29 billion. It will loan $85 billion to insurer AIG. It’s letting banks borrow up to $150 billion using risky mortgage-backed securities as collateral. And it’s letting investment banks, which it doesn’t regulate, get short-term loans using the central bank’s discount window.

The Treasury, meanwhile, has pledged to backstop Fannie and Freddie up to $200 billion. Lawmakers passed legislation allowing the Federal Housing Administration to insure up to $300 billion in loans for troubled borrowers. They’re likely to loan $25 billion to the auto industry.

And the government might not be finished. Some Democrats on Capitol Hill are arguing for an expansion of the FHA program for troubled borrowers. And talk is building that the government might have to set up a fund – similar to efforts in the 1930s and 1980s – to buy bad securities clogging up the financial system.

If you add up how much the Treasury and Fed have pledged or made available for loans so far, it’s close to $800 billion.

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SONOFABUSH! Mark my words, that $800 billion ain’t what it’s really gonna cost the taxpayers. As I reported yesterday, the idiots in washingtOOn are creating a dept. of dump the bad loans on the taxpayers. This new federal agency will be much like that disaster they created to dump the cost of the late ’80’s savings and loan disaster on the taxpayers. Back in the late ’80’s they called it the “resolution trust” and we were told that it was gonna cost little to nothing. It cost us $124 billion in 1999 dollars. That’s not nothing! There will be promises this time that these “loans” will be paid back and the taxpayers will have a net charge of nothing. The msm will be telling YOU that, but don’t believe em. This latest disaster is gonna cost TRILLIONS, I’m tellin’ ya, this is not yet over! There is no way to tell how much this is gonna cost us, because there is no way to tell how much the “assets” and I use that term loosly, the dept. of dump the bad debt on the taxpayers will be worth in the end!

Add the zillions they are pork barrel spending on the  military industrial complex, and you will see how this corpoRATe welfare program will bust the federal budget but good!

Those ethically challenged co-joined twins of the apocalypse called mcbama are all for this MASSIVE corpoRATe WELFARE PROGRAM AND THE CONTINUATION OF PORK BARREL MILITARY INDUSTRIAL COMPLEX SPENDING TOO! If YOU commit stupidcide™ and vote for the reverend mcPain or obamessiah in November YOU can FULLY EXPECT THIS ECONOMIC DISASTER TO CONTINUE TO BITE YOU ON YOUR ASS!

There need be a complete systematic restructuring of how the thieving corpoRATeers are allowed to conduct business. They have once again proven themselves to be COMPLETELY UNTRUSTWORTHY and they need be brought to heel. Said restructuring is outlined here. CLICK THAT LINK TO READ ALL ABOUT IT!

DAGNABIT, once you understand what need be done, do the right thing, SUPPORT AND VOTE NADER!

VOTENADER.ORG

The Telepathic Crickets™ on the ClapSotronics editorial board and I insist that the reverend mcPain and obamessiah are sleazy ethically challenged flippity floppity chickenshit pussy wimps for refusing to debate NADER!

HEY, mcPain and nobama:
Open The Debates!

If YOU REALLY wanna know the TRUTH about the debate issue CLICK THIS LINK!

Don’t forget to stop by our satirical sister blog:

The Intergalactic Times

Make sure YOU WATCH THESE VIDEOS!

The scientifically impossible I do right away

The spiritually miraculous takes a bit longer

~ by ClapSo on September 19, 2008.

One Response to “Lemon Socialist BAILOUT O’RAMA!”

  1. I think the new nader youtube videos could be cool. Too bad it crashes my ubuntu linux browser…

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