Tuesday, June 16, 2009


At the end of President Bush's 8 years in office banks and investment firms started defaulting and heading for destruction, along with our 401K's etc.. This has been proven to have been caused by the government mandated risky loans instituted in 1994 by then president Bill Clinton. No more arguments, the Dem's caused the crisis.

President Bush initiated an unprecedented 700 billion dollar bailout of the banks. The stated purpose of the bailout funds was to buy up the toxic loans from the banks (all the freddie and fanny loans that got sold to other investment firms and banks.)

Here we are 6 months down the road and what have we got?

  • 1.4 trillion dollars in debt (which Obama erroneously attributes to Bush)

  • Toxic loans are still on the books at the banks

  • The government is controlling CEO's, Base pay of executives, and bonus amounts

  • Obama bought GM by screwing the secured debt holders and illegally putting the unsecured debt holders at the front of the line. (did I mention that those unsecured debt holders were the union that brought GM down and helped get Obama elected)

  • Obama now wants to finance government health care and bulldoze Flint MI.

  • Unemployment, which 'could rise to 8.5% if we don't sign this stimulus into law now' is now at 9.4% and rising.

  • TARP funds are being returned to the government to avoid being controlled by them

  • People aren't spending money (which is the biggest problem we have now)

  • Obama is trying to get his hands on every vein of free enterprise to own and control it.

Now folks, what we should have done immediately is to give huge tax breaks to businesses for a temporary time like 3 years, so that companies could survive the down turn. People may have lost houses and declared bankruptcy but they would be OK. Now they lose everything and Obama takes more and makes us all dependant on the Federal Governments generosity.

I just have one question. Who do you trust more with money?

1. Do you want to take your chance with Baily savings and loan?

2. Would you rather settle down in 'Pottersville' (It's a Wonderful life)

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by David W. Andersen