We don’t need no stinking compromise!

The Congress says …they have arrived at a viable Bail Out compromise….that they are ready to vote on Monday!   They continue to harp…endlessly…that unless they pass the “Fed Money for Bogus Paper Act”…..we will suffer a severe “credit crunch”.  No borrowing, no building, no nothing!  As usual these people love to talk about biting into apples while they squeeze the oranges.

Please answer this one for those of us here in the hinterland that still don’t get it:  How can buying virtual worthless junk bonds….unfreeze our credit borrowing?  How about this:  All these guys with the “Toxic Non Tangible Investment Products”……”they buy them” and just borrow the money from the Fed to pay for them.  They get no broker fees, they get no credit and no excess cash.  They call all there European Investment Bank partners and buy up this junk right away.  They borrow as much as they need from the Fed…and they have two years to pay the Fed back.  

There will be no Federal Bail Outs…There will be no Treasury Secretary running around giving out indiscriminate money out of his Weiner Mobil.  They even have to sign a “Homeowner Quick Deed” over to the Fed…to be sure that if they fail to pay back the Fed…they lose their primary residence.  There will be a good chance these rich guys will quickly be moving into some low cost retail property immediately.  Congressman Darrell Issa has come up with the perfect answer:  Sell these guys Federal Treasury Bonds that they can acquire their “Bogus Bonds” with!

This joke has run its course hasn’t it.  Anyone that votes for the so-called Paulson Compromise should be voted out of office immediately.  They just don’t seem to get the message…we do not want to end up giving $6 to 7 Trillion dollars to Wall Street Wise Guys.  We don’t want Inflation to make our money totally worthless….and we don’t want to pay $10.00 a gallon for gasoline.

Everyone knows that the $700 Billion is just wine from the teaspoon.  Once they get that….they soon will be returning to the well.  Washington Mutual figured out a market solution…so can Wachovia.  Goldman Sachs and Morgan Stanley should be the ones designing tougher banking laws…they know how to get out of stuff ….. so well.

About Ron & Anna Winship

Independent News Producers/Writers and Directors for Parker-Longbow Productions. Independent Programming which includes a broad variety of Political, Entertainment and Professional Personalities. Cutting Edge - a talk show...is the flagship of over 30 URL websites developed or under development. The Winships have been blogging for the Orange Juice since back when nickels had buffalos on them, and men wore onions attached to their belts, because it was the fashion back then.