American Taxpayers Should Get Ready For Rape Of The Century
Major media outlets were full of news two weeks ago about the U.S. banking industry bailout being engineered, supposedly, by Treasury Secretary Timothy Geithner. I say supposedly because, as people in the financial world and others on Wall Street have complained, there is as yet no substance to Mr. Geithner’s plan. The U.S. stock market dropped 5% after the vague details of this plan and the accompanying $800 billion stimulus plan to jumpstart the U.S. economy were announced in a press conference last week.
The reason for this lack of confidence by investors and financial industry bigwigs – they have a very basic question that hasn’t been answered yet. Where’s the beef? Where are the details? How are U.S. banks going to get under from what looks to be trillions in toxic assets that are very likely completely worthless? This is the elephant in the corner of the room that nobody wants to talk about, and why not? Because at this point there is no answer to this question.
And until this question is answered definitively there is no plan. How are these “assets” going to be disposed of so that banks will again have positive balance sheets? The solutions floated so far have been vague and pointedly so. Somehow, someone is going to buy these “assets” for some as yet undetermined price that will allow the banks to become recapitalized and go on their merry way. But no one in the Bush administration could come up with a plan to accomplish this feat and no one in the Obama administration has yet been able to either.
And do you know why? Because there is no solution, other than to let the banks that have these toxic “assets” simply fail. Who wants to buy huge packages of worthless mortgages which is what most of this garbage is? Private investors? I think they’re a little too intelligent to buy any of this stuff unless they get it for pennies on the dollar and even then there is a high risk factor. And if they do buy these “assets” for pennies on the dollar then it doesn’t help the banks anyway because they need much more than that to clean up their balance sheets. They simply can’t value these “assets” that low or they will be basically insolvent (which is, of course, what they technically are at this point anyway).
For example, an asset that is on their books for $100 can’t be sold for $5 or $10 even though that is probably what a private investor would be willing to pay, depending on the situation. The bank would most likely need $60-70 for this asset and no one in their right mind is going to pay this much. This is why these “assets” are still on the banks’ books and why they are not lending money to anyone.
So who is going to be dumb enough to buy these “assets” at a price high enough to keep the banks in business? You guessed it – the American taxpayer. Why not? They were dumb enough to bail out the savings and loans in the late 80s after they went on a similar orgy of unrestrained greed, under another Republican administration, by the way, in what surely is only a coincidence. The only problem facing Geithner and Obama at this point is figuring out how to come up with the right terminology to use that can somehow bamboozle the American public yet again into paying for the greed of unprincipled financial industry executives.
And after the savings and loan fiasco, the Enron, Worldcom, Tyco and other corporate malfeasance cases, the massive bonuses paid to company executives that took government bailout money from the Bush administration just recently, the Bernie Madoff scandal – how can anyone think that there are principled people anywhere in the financial sector or even any large corporation in the entire country? The words “unprincipled” and “financial industry executives” should be inseparable at this point. Who is left to trust?
The only principle that these people live by is greed. Let me stuff as much money as I can into my pockets and damn the consequences has been standard operating procedure in corporate America since Ronald Reagan took office and to think that is going to just disappear overnight is a fantasy. These people care about nothing but themselves and now the Obama administration is going to bail them out yet again with taxpayers’ hard earned money, proving that they are no different than the administration they succeeded, regardless of all of Obama’s calls for change. The only change you’re going to see is in the names of the government officials that are going to throw tax dollars down a bottomless pit.
Just wait. If you’re an American taxpayer, and I am thankfully not anymore although my friends and family will have to suffer through this, you are about to get raped by your government once again in the cause of national interest. You will receive explanations about how large financial institutions in the country cannot be allowed to fail. How greedy avaricious predators who basically stole billions of dollars should be bailed out so that they can, most likely, continue to do what they do best –steal more.
Why there will be a problem if banks are allowed to fail will never be fully explained, by the way, and there won’t be a shred of evidence to support any of the claims these government officials, like Geithner, and even Obama will make. But they will make them anyway and gradually enough people will believe them and the great swindle will happen. The American taxpayer will again be screwed only this time it won’t be just current taxpayers. The amount of this bailout will be so big that the children and grandchildren of current taxpayers will end up paying for this one. This is the mother of all swindles and you’re going to see it play out in the next few months so get ready for the lying and cheating to begin because it’s going to dwarf anything you’ve ever seen before.
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deez says:
Very obvious there is jealousy toward America’s standard of living.
I can’t believe Hail Satan’s comments are actually printed! His ignorant and primitive comments don’t deserve to be read or commented on. He should be locked up he’s crazy! The USA is great and will always be great! It’s not perfect, which country is? Yes, it is going through a bad patch, but wait and see it will shine grand soon!
Hail Satan, f**k off you’re embarrasing both myself and every other intelligent Brit, instead of ranting about things you clearly know nothing about, 1st do some research, and then come out with some intellectually derived comments. You are as bad as Hail the creator who doen’t seem to believe in research either. To both “Hails” I suggest you both educate yourselves rather than lower the I.Q levels of your respective countries or failing that remove yourselves asap from the gene pool, I understand the darwin awards are looking for canditates, maybe you should try to win one =).
Frankly, every government around the world is responsible for this fiasco, any one of them could have took measures to prevent or reduce their countries from being damaged by this utter ballsup, but they didn’t.
For those of you who are like me(low income), then all I say is grit your teeth, stop whining and survive, if you can still put food on the table, keep your loved ones clothed, safe and warm, then you are doing well. Anything else is just gravy
Hail the creator, (sputtering to suppress laughter at your knee jerk and unoriginal selection of a name)
You need to own a house and a car to survive ? Ahem begging your pardon but *cough*bullshit *cough*.
Why should owning such things be a scarcity? Um….lets see maybe because they are way too expensive and any reliance on them as a means of contentedness borders on being an illness.A chicken in every pot?Yes.A car in every garage?No.Heck not even a garage in every garage.
Technology exists to improve the quality of human existence?Again pure bullshit.,technology exists, that’s where the sentence ends.
I don’t have to capitalize on anything or anyone to live a well rounded existence and I don”t. Actually to be fair I am capitalizing on your grossly over simplified specious and bland generalizations not for money,just for laughs.
The question of motivation, I for one am motivated by beauty,love,music,laughter,people,adrenaline,sex etc. not money.
Finally I don’t know if your american or what,but our money does not consist of “impressive looking pieces of paper“. Lamest looking currency ever in my not so humble opinion (Oh snap, your wrong about almost everything except spelling and perhaps the usefulness of your reference to the movie zeitgeist but even that, it seems, would be too subtly nuanced for your intellectual lip reading skills,its called context,look into it.)
I have a couple of other problems with your reply to me(even more with your reply to Hail Satan,but I`m sure Hail Satan will respond to those himself.If he doesn’t I will be sure to) but they are trifling, actually even the ones I commented on are trifling ,BUT I’m bored so thanks for picking up the thread if only to find yourself b***h slapped back to the kiddie table. Nah I`m kidding. You are a wonderful person.Perhaps you may want to figure out what your trying to say before you put finger to key next time.
Here’s the Change all the liberals were clamoring for last year. Enjoy. And thanks a lot for decidedly giving our nation a 4 – 8 year kick in the nuts.
First of all Health care for you isn’t free, it’s socialized that means the gov’t pays for it I.E. YOU, and I wonder how efficient that is. Gas costs are higher for you because of…. oh yeah socialism, they think, if they control gas tax, you’ll drive less, maybe, but the key word there is control. Houses are more, because you live in a smaller country, in area, and few homes are available, which is a supply/demand issue. Most of your gripes should be taken up with your house of commons, and remind them that the choice of greater good should be decided on by the greater good, in other words, the market.
we know you are just jealous ! —
Of what?
“bucks stopped here”… what the eff? america never pays back debt? who in christ’s name repaired your entire bloody continent after ww2 on behalf of the american citizen’s wallet?—
You didn’t, try checking the facts, not wikipedia, oh and by the way who was the biggest contributor to the nazi military buildup, America. Who supported Hitler and told Britain to let him take over Europe, American politians, an example is Joe Kennedy(father of john, etc, who were with him when he said it) who said that the nazi’s would be a stabilising force in Europe, Coca cola actually invented a new drink(Fanta) to sell to the german troops so that they could profit from both sides, You forced Britain to pay a ridiculous price for scrapyard ships and then started selling them ships that were so shoddy that they were being knocked out at about one a week. If the germans and japanese hadn’t already made a pact then after pearl harbour you could just as easily sided with the nazis. You went around claiming that you saved the world from nazi tyranny and yet ironically you had helped pay for their war machine and in essence that is what helped kickstart the war in the first place. Just think, if you hadn’t helped them in the first place, then quite likely the war either may never have occured or even if it had, then countries like Britian could have had an increased opportunity to build up their forces and thereby the war would then have been on a far more equall footing
The fact is, the world is a better place than it was 300 years ago, largely due to American Invented technology and ideals.—–
such as what, most inventions over the past 300 years has had virtually nothing to do with america, and don’t quote “dikipedia” at me, as that is often written by idiots, for idiots,
one of your claims is the internet, sorry wrong, it was invented at CERN in Geneva, for inhouse comunication, try to do some research rather than just reading pro american propaganda
next t.v, 1862 First Still Image Transferred
Abbe Giovanna Caselli invents his Pantelegraph and becomes the first person to transmit a still image over wires.
1873
Scientists May and Smith experiment with selenium and light, this reveals the possibilty for inventors to transform images into electronic signals.
1876
Boston civil servant George Carey was thinking about complete television systems and in 1877 he put forward drawings for what he called a selenium camera that would allow people to see by electricity.
Eugen Goldstein coins the term “cathode rays” to describe the light emitted when an electric current was forced through a vacuum tube.
Late 1870s
Scientists and engineers like Paiva, Figuier, and Senlecq were suggesting alternative designs for Telectroscopes.
1880
Inventors Alexander Graham Bell and Thomas Edison theorize about telephone devices that transmit image as well as sound.
Bell’s Photophone used light to transmit sound and he wanted to advance his device for image sending.
George Carey builds a rudimentary system with light-sensitive cells.
1881
Sheldon Bidwell experiments with his Telephotography that was similiar to Bell’s Photophone.
1884 18 Lines of Resolution
Paul Nipkow sends images over wires using a rotating metal disk technology calling it the electric telescope with 18 lines of resolution.
next automobiles, Karl Benz, the German mechanical engineer who designed and in 1885 built the world’s first practical automobile
next aircraft, * 1485 – The inventor Leonardo Da Vinci began the first recorded study of flight. Using the concept of birds wings he developed over 100 drawings for ideas of mechanical and machines that could theoretically carry man. His most famous deign was that of the Ornithopter flying machine, though he never actually built the model.
* 1783 – Joseph and Jaques Montgolfier, brothers who invented the hot air balloon. The first manned flight happened on November 21 1783.
*1784 – Jean-Pierre Blanchard took the concept of the hot air balloon and fitted a hand-powered propeller, thus giving a recorded method of propulsion.
*1799 – 1850’s – Sir George Cayley spent years developing the idea and recorded the first flight using a glider. He designed an aircraft in 1804 with fixed wings and controls, plus a form of propulsion.
*1848 John Stringfellow designed the first model aircraft, powered by a steam engine. The model is the first recorded powered flight.
*1852 – Henri Giffard made the first engine powered flight aboard a steam engined airship which flew over 17 miles.
*1871 – Alphonse Penaud developed a rubber band powered airplane toy. A student of Sir George Cayley he spent his life further developing mans ideas for powered flight
*1883 – John Stringfellow designed and built a tri-plane that flew indoors at 20 miles per hour from a wire.
*1884 – Charles Renard and Arthur Constatin Krebs make the first fully controllable flight in an airship over 5 miles.
*1891 – Otto Lilienthal developed and flew the first glider over long distances.
*1891 – Samual Langley built a model aircraft using a steam powered engine that flew for 3/4 of a mile. A full scale model was developed but this proved to be to heavy and crashed.
*1894 – Octave Chanute designed several airplanes with the most successful being a bi-plane he named the Herring.
*1903 – Orville and Wilbur Wright design the Kitty Hawk and are widely credited with the first powered and manned flight on December 17th 1903. The flight covered 36 metres (120 feet).
The definition of an aircraft is that of any navigable vehicle capable of flight. In analysis of the inventor of the first aircraft, as we know the aircraft today, it depends on each particular point. In terms of design it would suggest that Sir George Cayley has the honour. For the first powered flight the inventor would be John Stringfellow and the Wright Brothers claim the honour with the first manned flight.
next traffic lights, The very first traffic light was a revolving gas lantern with red and green lights installed in a London intersection in 1868, before the advent of automobiles. A later version of the traffic light based on railroad signals was installed in Detroit, Michigan, in 1920
next telephone, A postage stamp has been released in Italy to commemorate the Italian who is now officially credited with the invention of the telephone, Antonio Meucci. also look into Gray
just because someone has the patent doesn’t mean they made it,
What makes anybody think that they DON’T deserve a car and house and all that other stuff?
The technology exists to improve quality of life. Why should such things be scarce for any human?
Things are the way they are because everyone is stuck in the monetary system. As individuals, we are motivated by money because money is the middleman between us and what we need to survive.
The system we live in forces us to capitalize on one another, rather than work together for the common good.
All for impressive-looking pieces of paper.
If you want a perspective on how the monetary system creates these conditions of poverty and scarcity as a function of it’s design, and why all humans should benefit from technology, watch zeitgeist: addendum at
http://www.zeitgeistmovie.com/ It’s also available to download for free on the same website.
Aye, mate!
Let’s not forget where the world would be without America.
All of these thing would have never existed:
The internet
Television
Automobiles of every kind
Aircraft of every kind, and by extension worldwide tourism
The traffic light
The telephone, and by extension every type of cellphone and handheld device
Radio
The industrial revolution, which laid the groundwork for modern society
The printing press, and by extension widespread journalism as we know it today
And modern Democracy, just to name a few.
How many other countries have contributed this much to humanity?
NONE.
Not to say that America is anywhere close to perfect, but what has your country, or any other for that matter, done to compare to such glory? Nothing.
Tearing down the lives of the “one tenth of the earths population who live the dream” is not a solution to
“the 90th percentile living the nightmare”. Instead, we need to improve the quality of life for all, raising “the 90th percentile” to our level. It doesn’t make sense to degenerate.
We *should* be able to enjoy the fruits of technological development. It’s ours to enjoy. America created technology, period. Technology is what improves our quality of life.
America shouldn’t be destroyed because of that.
I’m sure someone will respond with a long list of American atrocities, but every single other country on earth has their share. What they don’t have is a matching list of accomplishments to compare it by.
What other country can claim to have increased the quality of life of hundreds of millions of people(worldwide) gradually over the span of less than 300 years?
Whoever you people are, you are using a personal computer, the internet, and electricity at this very moment, thereby benefiting from American technological development, making you a member of the “one tenth of the earths population who live the dream”. So, NumbrNine, If you aren’t deprived of luxuries that were invented by Americans, like “deserving a car” why should we be? Why don’t you or some of your countrymen invent your own technology? Increase your own quality of life without our help if you can. Change the structure of your government according to your own principles. See how that works out.
And “hail satan” should hail America for the opportunity to express his beliefs freely(an American ideal) on the internet(an American invention).
The fact is, the world is a better place than it was 300 years ago, largely due to American Invented technology and ideals. Your individual lives are better than they would be if America had never existed.
You fucking dipshits.
And you didn’t go to the mother fucking moon either.
You fucking dipshits.
Praise Satan
Hail Satan
Kill the Americans. Kill them with burgers. Kill them with debt. Kill them with stupidity.
yes I meant super not seper you fat thick American twunts.
America deserves to die.
Me I want to see nuclear war. I’d like to see America blasted clean off the face of the world.
I’m praying for that. Praise Satan.
PS: 911 – inside job blatantly you seper-sized super-thick fucks
lol… apparently there are a bunch of sassy britons reading this article… you can tell, because they are the type of people that respond to arguments with unrelated potshots about american history… its okay mates, we know you are just jealous and don’t mean any harm! :P
its like people that tell their children to finish their dinner because people in africa are starving, as if the kid gives a damn. no one is going to excuse their country for being great, and in the end, high expectations lead to high achievements.
at “bucks stopped here”… what the eff? america never pays back debt? who in christ’s name repaired your entire bloody continent after ww2 on behalf of the american citizen’s wallet?
cheerio! lol
If you want a loan, ask China, they have more dollars than the entire U.S.A at the moment, and if they decide to call on everything America owes them, you’ll go under faster than an lead brick in a swimming pool. If you’re moaning now, just think what you”ll be like in 5 years time, mind you, if China does demand what you owe then no doubt America will do the usual, blame everyone else and refuse to pay whilst demanding everyone who owes them is to pay now. Changing the truth is what America is good at, but paying what’s owed has never been something they’ve been good at. You might want to duck and cover because some of those who you have forced to do things your way may now be looking for some payback, the sick thing for me is that my country is liable to get fucked in the process because of guilt by association. Here’s a thought for you, all those rich cunts you boast about, Bill Gates(Mr Honesty,LOL) for example, see if he’s willing to give anything back to the people, just don’t hold your breath, besides even if he did, you just know he’d want something in return
P.S. Your lifestyle deserves to get raped it dresses provocatively and hangs out in the wrong part of town.
What makes anybody think that they deserve a car and house and all that other stuff(apart from a mere one hundred years of being told they deserve it)? The real elephant in the room is the idea that this lifestyle of “having” is some how your god given right simply because you bought into the fantasy i.e.go to school,work hard and you can have what ever you want. What you want is some kind of assurance that you and the rest of your family and country men will all be taken care of in perpetuity.You all need to get over your burning desire to live the American dream,wherever you may live because its well over you.What everyone in the modern world needs to come to terms with is that the party is finished ,over,kaput.There is a long and painful correction coming,not just a market correction,not just a technological correction and not just a cultural correction but a full on first world enema. Hold on to your teeth because this is going to be one hell of a bowel movement.I for one say “bring it” ,mostly because its inevitable but also because its fucking obvious to me that one tenth of the earths population shouldn’t be allowed to live the dream while the 90th percentile cant wake up from the nightmare.
You fat b******s. What does your country know about rape? Here we are in the UK where even professional COUPLES cannot afford proper homes, paying twice (what you pay) for our cars, petrol (gas), food, homes, everything except medical bills and prescriptions….
You never had it so good. You still have it better than us. Stop whining. Lose some weight.