Thursday, October 30, 2008

At Least Jesse James Was Up Front About It

From an article in The Nation:

The swindle of American taxpayers is proceeding more or less in broad daylight, as the unwitting voters are preoccupied with the national election. Treasury Secretary Hank Paulson agreed to invest $125 billion in the nine largest banks, including $10 billion for Goldman Sachs, his old firm. But, if you look more closely at Paulson's transaction, the taxpayers were taken for a ride--a very expensive ride. They paid $125 billion for bank stock that a private investor could purchase for $62.5 billion. That means half of the public's money was a straight-out gift to Wall Street, for which taxpayers got nothing in return.

The president of the United Steel Workers is paying attention.

"This is no different than if you paid me $10,000 for a car for which no one else would pay more than $5,000," writes Leo Gerard. "You bought it for $5,000 and gifted me the other $5,000."

A final looting of the public treasury before a change of administration? Of course not! What kind of people do you think they are? Or do you live in a not-so-pro-America part of the country?

Say, where's your flag pin?

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