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If the fact that the banks, Wall Street firms, and now the Big 3 automakers sauntered up to the Congressional handout window begging wasn’t bad enough…now we find out what they were doing BEFORE they ventured to D.C.? This article here will give you a good idea of some of those things.

Key industry actors in the current financial crisis gave $14 million to conventions, CFI reports. The following are some of its findings:

• Freddie Mac gave $500,000, half to each committee.
• Ford Motor Company donated $200,000 for the conventions, half to each host committee (Also, Kirk Kerkorian, Ford’s largest shareholder with ties to GM and Chrysler, gave $3.5 million).
• General Motors provided 735 new cars to the Democratic and Republican Party convention committees for elected officials’ use.
• American International Group, or AIG, gave $1.5 million split evenly between the two committees
• Hedge funds and their managers gave $3.9 million – $2.7 million to Republicans and $1.2 million to Democrats.
• Investment companies including Goldman Sachs, Morgan Stanley, J.P. Morgan Chase, UBS and Lehman Brothers, gave $1.5 million.
• Other financial institutions that have received or are eligible for bailouts, such as Citigroup, U.S. Bancorps, Wells Fargo and Bank of America, donated $2.9 million – much of it was given to the Republican committee.

Yet each and every one of these firms have either requested or have received some of OUR (meaning yours and mine) hard-earned money in the form of bailouts. As we all know, if you or I were to make that sort of transaction and then come begging for money four months later — we’d be told “so sorry, but you f—ed up and now you have to suffer the consequences”.

Don’t you find it interesting that the folks in D.C. just do not get the clue that “bigger” is not “better” when it comes to the size of government. We the people are making it clearer to them that we’re not wanting bigger, but they just smile and nod and then behind our backs right in front of our faces are proceeding to nationalize what little manufacturing capabilities this country HASN’T sold out to the Chinese.

“If the executives who have come to Washington, hat in hand, looked familiar to members of Congress, maybe it’s because they met over the summer at the conventions,” CRP Executive Director Sheila Krumholz said in a statement. “The conventions provided representatives of major corporations and industries with many opportunities to interact with Washington’s decision-makers. Those conversations may have paid off just weeks later, when the government started handing out money to those companies and industries that are struggling.”

No wonder the Big 3 CEOs looked so comfortable on the C-SPAN cameras and not like someone who was called in to the office knowing you’re about to be handed a pink slip. Which is clearly what needs to be happening, instead of being given $10M bonuses or allowed to make use of their so-called “golden parachutes”.

Does it not just PISS you off when the message being sent out by these bailout is “Yo big biz, go ahead fail….we’ll reward you all the same. It’s OUR money anyway…”? Gee what a wonderful message to send to a generation that ALREADY has the entitlement mentality!!!!

Need we ponder any longer on why the US is not mentioned in Revelations? Nope, I don’t think so either.

Dismissed&#153

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One response to “They ALL just need to go bankrupt”

1. HDD says:

   December 12, 2008 at 6:17 am

   The most offensive thing about all of these bailouts is the glaring lack of understanding by ALL parties about what government can do in circumstances like these.

   I have yet to hear a single person remark upon the basic fact that government can only do two things to an economy: print currency (increase inflation), or remove capital (take money away). That’s it. In order for the government to ‘bail out’ ANY entity, the government must find the money *somewhere*. That leaves the previous two options, neither of which are options that will actually solve the problem.

   Hold on to your hats, boys. It’s going to be a bumpy ride. The Great Depression II (This Time, It’s Personal!) is coming to a town near you, soon.

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