Re: How much security did $1 trillion buy?

gerantoine — Wed, 14 Oct 2009 23:06:41 -0000

I do not understand why Arianna Huffington is making such a fool of herself by asking for VP Joe Biden's resignation as he wants to redefine our target by narrowing it to Al Qaeda. It is clear that Taliban pursue a transnational interest in building a Pashtun Country. We have been helping the Kurds in Iraq, the Bosnians in Bosnia, why not the Pashtuns in Pashtunistan? In any case, we should not place ourselves in the middle of an Afghan civil war, allied with the most corrupt side. The video - and the speakers --should have addressed the issue of Pashtunistan also instead of turning around the pot.

Re: Mortgage Crisis Solution Excluded From Bailout Plan

gerantoine — Thu, 25 Sep 2008 15:05:26 -0000

Finally, after looking at C-Span for hours of testimony in the Senate and Assembly banking committees, I urge you to postpone your definitive answer to “bully” Comrade Paulson’s 2 ½ page plan to “save” our financial system. I have concluded that his disrespectful short plan has no merit and is only another way to postpone the day of recognition of the Republican administration’s catastrophic failure, while passing the buck to the next administration. You need to know everything. Accepting to give a blank check now, even in a modified version, does not serve much purpose: Be helpful: let them pray: heaven and the market can wait!
To present the root cause of the current crisis as being primarily mortgage financing is a misleading oversimplification. Why place part of the blame on the small guys? The root cause lies with this administration and the extraordinary power of leverage it gave to what PIMCO called a “shadow banking system” of hedge funds, CDS, private equity able to leverage 30 times assets, even when these assets were questionable, without any regulatory control, not speaking of a hole in a 62 trillion dollars market for credit default swaps.
To say that if will cost the tax payers “only” 700 billion this time is an obvious scam. It certainly won’t push the economy forward! Some say it is not a “true” solution. Others would even call it a lie! Experts conservatively put the amount needed at 3.5 times this amount or $2.5 trillion. Last week money markets broke the buck, withdrawals reached half a trillion and the response from the Treasury has been a blanket guarantee for the $3.5 trillion invested in money markets. Somehow, the Comrade Secretary did not see the need to ask us for that. This means that, comes January, we will be revisited by a new Treasury Secretary for more (much more) of the same bail out.
In other words, we are given another smoke screen, to let a 3rd Shrub remain in power for another 4 years. Why should the taxpayers help those who caused job losses and foreclosures? Do they deserve your applause? We need to get real: we cannot afford trillion dollars budget deficits, nor a bloated defense budget that should be reduced by at least 50% to restore our country’s economic strength.
We will be better off resisting another call to quench another fire. They exaggerated and pushed the “panic button” to get the Patriot Act passed. They lied to push us to war in Iraq. It is again another of their swindles. We cannot trust them. We should not trust them. Don’t applaud! Third time should NOT be a charm! Please wait for the new administration before giving your definitive answer. Comrade Paulson gave you this opportunity by trying to make you responsible by bullying your committees: Don’t let them get away! Take it!
Respectfully yours,

Gerard F.Antoine

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Re: How much security did $1 trillion buy?

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