Wednesday, March 18, 2009

U.S. Hostage of "Too Big To Fail"

Through the policies of deregulation and the Federal Governments failure to block the formation of monopolies, the U.S. Citizens are now in the untenable position of having their Government held hostage by Corporations that are "too big to fail" . The George W. Bush Administration began the ransom talks with these corporations in the waning days of their tenure. Surprisingly, The Obama Administration has continued to pay the ransom to these financial corporations who are flauntingly using the ransom money to turn failed businessmen into millionaires.

One of the public credos of the Republican Bush Administration was that the U.S. does not negotiate with terrorists, yet when Bear Sterns, AIG, Citigroup and a host of other failed financial institutions told Secretary of Treasury Paulson that they would take down the world economy, negotiations began in earnest and in secret. It didn't take long for the Bush Administration to gather the $750 Billion Dollar Ransom and package in into a bill that they expected the Congress to pass with no strings attached. They almost got their wish except for the fact that whenever money is in a Bill in Congress, there must be graft to get IT passed, so the add ons began until a one and half page Ransom Bill eventually became a 700 page Ransom Bill that no one bothered to read before passage.

The Bush Administration would have liked to have paid the entire Ransom before it left office, however for some strange reason the Congress actually began questioning the size of the ransom and decided to break it up into two drop offs to insure that some of the threats by the financial giants were retracted. The American People believing that Barack Obama would as he said look out for the People elected him to be President. One last time the week before Mr. Obama was to be sworn in, the Bush Administration tried to gather up the rest of the ransom and deliver it before their term expired but failed to convince Congress that the Economy would be killed by the Financial Hostage Holders.

With the Inauguration of Barack Obama and promises that were made from the time of his election until the inauguration the American People believed that the Obama Administration would take office with a plan in place that would revive the American Economy with a GREEN NEW DEAL. This failed to materialize and the Obama Administration was soon put under the spell of the lobbyists and Republicans who insured that the Stimulus Bill was noting more that tax cuts for the wealthy disguised as aid to the middle and working class. As the game continued the Hostage Takers saw more and more opportunity to up the ransom and were quickly rewarded with more payments for an ill prepared Treasury Secretary.

The Obama Administration is in serious need of an Organizational Meeting in which they can lay out the plan to free the Hostage without creating more millionaires out of the Hostage takers. If the money that was already paid in ransom to these "too big to fail" corporations had been put into the research, development and implementation of renewable, sustainable energy, the country could have been free from the threats of both the Financial Institutions and the Energy Corporations, plus this money could have acted as a Stimulus that would have created countless new jobs in the retrofitting American infrastructure with new energy sources. These jobs would have created spendable income that would have filtered throughout the Economy and would have grown all segments of the Economy. Instead the Ransom was paid to wealthy multi-national corporations which used the money to create a handful of millionaires in the US and throughout the world. It protected Hedge Fund Investors from losses at the same time that the lower classes of American Society were having their asset wealth depleted by the continued manipulation of the American Markets. All this occurred while the current Secretary of Treasury Timothy Gaither was still reading the ransom demands.

The Obama Administration was stop, sit down, make a plan, announce it and implement it free from the usual political trickery and aimed at the relief and revitalisation of the American People through a realistic and implementable Stimulus that will create real jobs while building the energy infrastructure of the future. If the Hostage is the Bankruptcy of 5 or 6 large multi-national corporations then let the hostage eat the bullet and fall. The Government can clean up the blood, sell any living pieces and put regulatory policies in place that will never allow for the formation of a large conglomerate that can hold the American Economy Hostage again. Meanwhile, the economy will be growing from the ground up building a foundation that will sustain a viable Economy based on goods and services not on worthless paper. The Obama Administration is failing in their attempts to deal with an economy that was destroyed by the deregulation and lack of oversight of the Republican Controlled Administration and Congresses of the last eight years and if they don't put a fully funded plan in place quickly they are going to be presiding over the worst Economic Depression that the United States and the World has ever encountered. The Hostage must be sacrificed and the Corporations that hold them must be taken under the control of the US Government in order to stop their terrorist threats to the American Economy.
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