Wallstreet Panics! The Heroes and Tyrants!

“They don’t play nice……”,  “The balance sheets are gummed up!”, “There were too many Add-On’s!”, “Fredo….you broke my heart!”, “They are going to have to pass something….aren’t they?”, “Nancy was mean!” “We had the votes…..and then we lost 12……because of some frivolous reasons!”

These and other not so cogent arguments ended with a tremendous win for the people of the United States and a terrible loss for the moguls of Wall Street.  If anyone watched the floor of the New York Stock Exchange as the vote came in on C-SPAN……..it looked like someone had put their phasers on stun – and nailed each and every one!  Lost for words, many just protested that they wanted a “do-over”!  Many more started wondering how many Country Club Memberships would be at risk…because of this historic vote of the Congress.

John McCain was shocked too.  He had put all his political capital at risk to support this giant bad debt write-off boondoggle!  Obama remained calm and in fact seemed almost light hearted by the results.  The Dow lost around 800 points for the day and Crude Oil dropped like a stone.  The great news was that the US Dollar was gaining ground against the Euro and the British Pound.  This so-called Bail-In…..would have caused a huge drop in the power of the buck and a hefty hefty rise in Crude Oil prices.  We dodged it for another day.  We need to thank both Republicans and Democrats in this case; that graced us with a Victory for the American people and a sound and unceremoniious defeat for the ruling class.

So what were some of the Add-On’s?  How about limiting CEO and Broker Fees to $1 Million dollars a month.  That was really punitive huh?  Ok, how about using a bunch of the money for Credit Card Debt we have sold to Foreign Banks?  How thoughtful!  Then, how about saving and freezing rates for soon to be Foreclosed Properties…..how many of which were for Insider Commerical deals?  We have no idea now or then!  They even added Used Car influx loans – as part of the package!  What were they going to try next: Cheese?

This was Pork, Pork and Pork Bellies…Hillary Clinton style!  Restricting Corporate Gift, Contributions to Political Campaigns and Kick-Backs were not addressed.  Hero, Darrell Issa, Congressman from the 49th District in California……led the charge to hold back this egregious attempt to devalue the American Dollar!  Congratulations Congressmen, you and Ed Royce, Dana Rohrbacher, Brad Sherman and Duncan Hunter…..all held the line against the great apologists:  Congressmen John Campbell and Gary Miller…..who we hope will be voted out quickly in this next election!   They have no idea….what great harm they would have done to our country.  But we figure that they are just Internationalists who really don’t care so much about borders!  Campbell, we might remind everyone…is so against the dreaded  “ear marks” that he won’t even try to get money for dredging the Newport Beach back bay!

For the first time ….in a long long time……we congratulate the Congress of the United States with hope and prayer that the US Senate will take notice and also adopt this patriotic message…..big time!