No, this isn’t a real bill – yet. However, given the current gleeful environment surrounding Washington with lobbyists, banks, and every other sort of entity who might cry poverty lined up at the taxpayer funded bailout trough, we should expect another bill – and soon.
The fact of the matter is the $700 Billion bailout fund is nearly empty. What was once intended only for financial firms has become an oasis for any and all firms including automakers, credit card companies, and even retailers. Everybody wants some. And our representatives, now firmly entrenched for a few more years are eager to curry favor.
This action speaks volumes as to who really runs the country. It isn’t us. The American People spoke out over 90% against this disgraceful action yet had it rammed down our throats anyway. We were assured that there would be transparency, and that the Treasury would be mindful that they were using taxpayer dollars. However, when we ask for disclosure of who is getting the funds, we get meeting minutes that look like a child’s crayon drawing with all the important details blacked out. Bloomberg News files a FOIA request against the Fed for disclosure of the Trillions they have been handing out APART from the bailout program. They are summarily dismissed.
It is pretty clear that when the current $700 Billion is exhausted that the same people who pushed through Bailout I will be back. This time the argument will be that $700 billion has already been spent, why not spend another Trillion and do the job right. The problem with that logic is that by the time it is done ‘right’, the Dollar will be worthless and the American taxpayer will be under a pile of bills that makes the current national debt look like arcade money.