Tuesday, April 21, 2009

Two strange pictures...

Have you ever wondered how a politician retires as a multi-millionaire ? Well here's a great example of "follow the money".
Nancy Pelosi (Speaker of the House) has just given $25 Billion to the FDIC. At the same time, her husband just received a multi-billion dollar contract from the FDIC. What's wrong with this picture ?
...and that, my friend, is Trickle Down Economics............
Meanwhile, the Secretary of the Treasury (Geithner) refuses to let the solvent banks repay the TARP money given to them. You ask why ?
The answer is quite simple. (1) If the solvent banks were to repay this money, instilling confidence in them, there would be a run on the remaining banks, (2) The preferred shares of stock that the government holds on these banks will be converted to common shares, thus giving the government voting rights and a seat on their boards, giving the government control over the banks without calling it nationalization. What's wrong with this picture ?
Between the demise of Democracy and the corruption of our Congress, is it any wonder that momentum is growing in Texas seceding from being a state and becoming its own country ? BTW, Alaska is the other state that can leave the union.
If those two states do eventually leave the United States, the migration to them will be the largest movement of people to those states ever...it'll be huge.
Pack your bags.

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