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Watching the Money

November 17, 2011

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Keep your Eye on the Ball

You might recall a bit of a congressional battle over a 700 billion dollar bailout a couple of years ago.  Early on in the formative period of the new tea party movement, citizens were activated to contact their congresscritters, and the people’s house actually rejected the bailout bill.  The FIRST time.

And then it was passed.

It was called TARP- for Troubled Asset Relief Fund, but the real tarp was the cover put over the taxpayers’ eyes.  At least until Bloomberg News finally got access to thousands of pages of details of what the Federal Reserve, (the Fed), gave away.

It was passed, you might recall, with the threat that there would be riots in the streets, that was one of the key phrases that I recall, and that 700 Billion of your money, got doled out to Fat Cats, who immediately paid themselves fat cat bonuses, for their reckless business behavior, and went on vacation in the Bahamas (or wherever Fat Cats go on vacation).

Was It $767 Billion?

I seem to recall the number jumping up, like from 700 to 767 Billion, after the bill passed, and the president signed it.  Was it $767 Billion?

No, according to the reporting I read in The New American, in an article by Charles Scaliger, titled The Other Bailout.  I scoured through the online version of The New American and could not find a link to this one page opinion piece.  Buuuut, herein lies the beauty of the Intar-Webz, I found a somewhat oogly muddled version of it HERE .

The print version of The New American is dated September 19, 2011 and Charles Scaliger reports therein that the stinkin Fed “doled out as much as $1.2 Trillion in taxpayer monies” of additional largesse, (making the total like $1.9B) in an action that us common folks might refer to as “under the table”. Ha.  Under the freakin table indeed.

Conclusion

The Country Class of Americans may have lost interest in writing to congress to bitch about the Ruling Class giving away the farm to their compadres at businesses with names like Morgan Stanley, Bank of Amerika, and Citigroup.  But how would they feel if they were made aware that the taxes that they pay were going to foreign ruling class pukes like the (ahem, cough) Royal Bank of Scotland, Germany’s Hypo Real Estate Holding AG, London’s Barclay Plc, Switzerland’s UBS AG, and/or Frankfurt’s Deutsche Bank?

This “Other Bailout” is just more fuel that the self-appointed ruling class has thrown on the blazing fire of contempt.  But the contempt is growing, and is beginning to become a two way street.  The contempt between Country Class and Ruling Class  now flows in both directions.  The only power the country class has is at the voting booth, and the Republican Party presidential contest offers very little choice of non-ruling class options.

If one follows the money, keeps their eyes on the ball, and recognizes the one candidate that wants to audit the Fed, they will find the key to closing the rift.  That is all I have to say.

(for now)

Peace.

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