Legislation, Legislation = More Money for the Banksters

First Published 9-27-10

House Resolution 5297: Small Business Jobs and Credit Act of 2010 is passed.  So where is the money going to go?  Well, the bill says that it will deliver $30 billion to small and medium sized community banks (assets $10 billion and under) for a new fund which could leverage up to $300 billion in lending.

What this equates to is the government putting $30 billion into a zero interest savings account that these poor banks worth $10 billion and under can lend $10 for every dollar and collect the interest.  I’ll make it even simpler.  If one of us has a dollar in his or her hand; it has one dollar’s worth of buying power.  Take that very same dollar, deposit it in a bank and the banker can lend $10.  In short, the banker’s dollar is worth 10 times more than ours.

Is this not how we got into this mess in the first place?  Those package mortgages were nothing more than an accumulation of these ten dollar loans, with only a dollar to back them.  I’m sure this bank bailout is going to work just as well as the last two did.  There is $30 billion we don’t have to worry about anymore out of that $2 trillion held in reserve.  I wonder who among the rich, who already have more money than can be spent in a lifetime, will get the other $170 billion.

Hey congress, I’ve got a great idea.  Why don’t we take all assets from every citizen, cash them out, and give the money to the filthy rich?  Then maybe a little bit of that wealth will find its way back to the poor folk.  Wait a minute, that’s the dumbest idea I’ve ever heard.  Isn’t that redistribution of wealth, from the poor to the rich?  Wait another minute; this is exactly what they are doing.  Borrowing money in our poor grandchildren’s names and giving it to the richest people in this country.  Note: said money will have to be paid back by our grandchildren and their indentured servitude will have to make the other nine of the ten dollars real.

I can guarantee you that not one independent voter with a lick of sense, of whom the candidates say they are so concerned, supports this legislation in any way.  Now there’s representative government for you.   Is this legislation not the Americans Want to Work Act minus the Tier 5? Unless we the citizens of this country wake up and realize that those we have put in our highest offices are nothing more than thieves, we are doomed.

Another piece of legislation is set to be debated in Congress this week which will, if passed, close loopholes rewarding businesses for taking our jobs out of the country and offer tax incentives for those that bring them back.  It was introduced by Democrat Charles Schumer of New York.  Tell me, can we have any piece of legislation designed for the recovery of our country that does not give more money to the filthy rich who are responsible for our financial collapse?  It will be interesting watching those so desperate to court the independent voter debate a piece of legislation that, although it wants to close loopholes, represents yet another big handout to the rich.

I have no doubt that the lapdog Obama will complete the procurement of the $30 billion for the international corporate mafia banksters in signing HR 5297 into law.  I’m sure he will indeed sign any piece of paper that gives his masters more wealth and power.  Barack Hussein Obama A.K.A. Barry Soetoro, you are nothing more than another slick talking con man out of Chicago.  The only thing you will get from me is my contemp.


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