Friday, May 22, 2009

Our Cozy Corporatist Bargain

Now with diamond-crusted Add On.

It's kind of all the same, innit? No matter who's in power.

While 17 financial institutions have repaid TARP funds, only two have come to terms with the U.S. on the value of the rights to buy stock that taxpayers received for the risk of recapitalizing the industry. The first was Old National Bancorp in Evansville, Indiana, which gave the Treasury Department $1.2 million last week for warrants that may have been worth $5.81 million, according to the data.

If Geithner makes the same deal for all companies in the rescue program, lenders may walk away with 80 percent of profits taxpayers might have claimed.

“For once we’d like to get a fair value when we come into contact with the banking system,” said Representative Brad Miller, a North Carolina Democrat and chairman of the Investigations and Oversight Subcommittee of House Science and Technology Committee.

All these folks -- whether they're in the Bush or Obama Administrations -- have the same goal: Make nice to the banksters. Protect those who drove the bus over the cliff at all costs.

I don't want Republicans talking to me about "the magic of the marketplace." And I have no interest listening to Democrats nadder on about "protecting the working man."

It's all about making sure nothing real bad happens to the big financial institutions. We stopped practicing "capitalism" last September.

Add On: But here's one good thing. All those Too Big Too Fail Banks? They're gonna have to pay more to the FDIC for the privilege of Corporate Sccialism. This is a good thing, especially since they're the ones getting the bulk of the bailout moolah.


Anonymous said...

"It's kind of all the same, innit? No matter who's in power."

Ah yes, banks and corporations controlling the government which in turn control us.

I'm glad we finally have bipartisanship on this. Now if both parties can agree to abolish the constitution and every freedom we have left...oh wait they are doing that too:

Communism with a little fascism mixed in for good measure by both parties.

Exciting isn't it?

Anonymous said...

the American people are slowing starting to wake up. Just hope its not too late.

Anonymous said...

A few small things coming soon that will kick yet another non-story off the front page of brainless talk show commentators.

The lid completely coming off Iraq and returning that country to the chaos we all know is still there.

And the return of the true bear market that will return our economy to the total collapse that we all know is the truth. Starting to wake up? No, wait for the real alarms to sound. You'll see some fireworks then.

Anonymous said...

"the American people are slowing starting to wake up"

If only that were true. Still the average American doesn't bother to study the history of our banking system and who controls it.

For the last 100 years our government has been completely controlled by these banking interests. They set up the puppet presidents and then roll another one out every 4-8 years...regardless of party. They control both.

All these events are going to eventually come to a conclusion, however. Either the people finally wake up and stand up and take their country back, or we will be like a cross between the Soviet Union and Hitler's Germany. Complete government control...dictated by banks. And no freedoms left.

Woodrow Wilson realized what he had done after bringing the Federal Reserve into existence in 1913:

"A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the Nation, therefore, and all our activities are in the hands of a few men... We have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men." Woodrow Wilson, 1916

I ask everyone to start studying and start preparing. This economic depression is far from over. They use these crisis to continually gain more power. They used 911, and they are already using this one.

This can only be stopped if the people stop fighting each other (repubs and dems) and instead go back to the constitution.

They want us split between a sham of a 2 party system. Makes us easier to control. But if we all join and go back to the constitution...we can win.

For if we don't, the founders fought for nothing...and we all lose.

Anonymous said...

Stop living on the grid. Never 'buy' a house, never 'buy' a car, only eat locally grown, and stop propping up the failed boomer legacy pension and healthcare debt that anchors us all to the banks like drowning kittens.

Just loved that last letter we received from MPIHP regarding the future, euphemism for "We've taken large sums from corporations in your name that we cannot guarantee will pay for you kids when you need it." Sick of paying for the failures of the largest American generation. Sucks to be post-boomer.

Anonymous said...

Sadly, going back to the constitution still involves repubs vs. dems. Their views of the constitution are different - the dems believing in a living constitution, a constitution that can be interpreted as the times change to account for political and economic times. While the Republicans believe in the original intent - one that is based off of the document as it was inherently written - not accounting for interpretation or change.

Both have their strong points and both have their criticisms, but to say we should just go "back to the constitution" doesn't cut it cause of conflicting views...

Anonymous said...

Well, but even if someone believes in a living still needs to be amended in order to change it.

Unfortunately, what we have now are repubs and dems who could care less about the constitution at all.

So many of our laws and federal departments go counter to the constitution. In fact, many are downright UN-constitutional. Money is spent and wars are started without proper constitutional procedure.

That is the problem we have these days. There is no respect for law.

If you look at what Bush did and Obama is doing now (along with the Federal Reserve)...we have become a nation of lawlessness.

The foxes are guarding the hen house.

handel said...

"The foxes are guarding the hen house."

Boy..what better post to have on a Union blog?


Anonymous said...

Take a look this article:,8599,1901938,00.html?cnn=yes

W. Bush and Clinton friends? How can this be? I mean, aren't they opposed to each other in every way?

No it turns out they play for the same freaking team.

Wake up people. They are on the team that opposes America and have the exact same agenda.

Wake the hell up!!!

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