Why the AIG Bail Out

Get these Republicans out. Get them out of here, and as soon as posible.

When banks and securities got deregulated here’s what happened. Real short, they got crazy, but let me make some since of this if I can type fast enough to stay ahead of my anger.

Banks gave good and bad loans (mortgages), far too many loans were made to people who they new had no way in hell to pay for them and still survive. The banks didn’t care because they sold these loans. They only kept these loans long enough to get rid of them. They bundled these loans and sold them to the deregulated investment firms. The investment firms turned these bundled loans into securities and sold them as investments. Who bought these loans?
Mean while the jobs kept being shipped out.

It got so good that banks were penalized for not making loans even though they knew so, so, so many were bad. Tough, they made the loans, and the loans got bundled and sold on the open market anyway. Freddy and Fannie got on the band wagon too; folks were getting phat, no let me say it better, they got filthy and disgustingly rich.
Mean while the jobs kept being shipped out.

China bought billions and billions of dollars of these securities as collateral in order to loan America money, Japan also. These nations asked how do we know if these securities are any good. This is where AIG came in, AIG insured them. AIG SECURED A BUNCH OF BAD LOANS THINKING ONLY A FEW WILL GO BAD.
Mean while the jobs kept being shipped out.

People began to default on these loans because THEIR JOBS KEPT BEING SHIPPED OUT. Foreclosure became the word of the day. The investment firms and banks had no cash. With no cash we still needed to borrow. AIG cried we ain’t got no money to back these loans. China said what’s up with this and what’s wrong with this picture. We ain’t giving you no more money, ya’ll are messing up our economy.

If we didn’t bail out AIG who secured these loan/securities China was gone. Our financial system was gone. Savings were gone. Retirement was gone. The dollar bill was gone. No money could be lent. The US would be on a cash and carry system.
Mean while the jobs kept being shipped out.

The Republicans are scrambling for a quick fix. They have completely destroyed the American financial system. They have stuck the dagger into our hearts and have twisted it. America is on her knees bleeding profusely. Wall Street have made off with the National Treasury. The Republicans are inept and can’t be trusted at all. The dollar is falling. Inflation is going to sore. Start the money presses.
Who will buy the phony money? Gas, food, and utility prices are going to go through the roof. This is called inflation or private taxation. Who cares if my money goes to the government or private industry inflation is a tax to me.

People will make a run on the banks to get their money and rid themselves of the dollar bill. The government must print money or all government entitlements will be shut down. Look what would have happened to Social Security if the Republicans had their way and the program was privatized … gone.
All this chaos, do something fast, we’ve got to keep McCain from losing this election by quadruple points. We wanted to dump this mess on Obama but it came too soon. The foreign investors involved in our economy are getting together to discuss shifting to a different currency other than the dollar. The world market is at risk.
Mean while the jobs kept being shipped out.

What will we do?
#1…Elect Obama and give democrats 60% majority in the house and senate. (60% kills filibusters)

#2…If a government bureau is going to buy the toxic loans for $0.25 on the dollar, adjust the loan holders to $0.25 on the dollar also. It will be absurd for the government to buy these loans at a huge discount and not give some relief to the loan holder by holding them to the old contract. They could still lose their homes to the government instead of a bank. (People want to keep their homes)

#3...Raise minimum wage drastically based on the number of employees and industry. Not across the board. (Middle class will spend money)

#4…Extend unemployment benefits to 18 weeks, (Helping middle class afford gas for travel when searching for a job which today takes up to a year or more.)

#5…Go to a flat tax, no deductions. Rich, poor, and middle class all pay the same percent.

#6…Lift the cap off Social Security. (As long as you earn, pay into the fund.) Social Security will be protected forever.

#7…Re-regulate the financial industry

#8…End all trade agreements.

#9… Put a tariff on import to level the playing field from markets with sweat shops, (Including our own businesses that jobbed over seas.)

#10…Meet with global investors to ashore them that the dollar will be strong.

#11…Entice manufacturing companies to come back or stay.


We’ve got to do something drastic; I mean really drastic, and do it now. The middle class again holds the entire burden of this load on their shoulders, (Government is financed by the middle class because we are the only group out of the three who pay taxes. The poor and rich do not.).

Eventually the jobs will come back. The wealthy will remain wealthy. Middle class will come back and our money and investments will be safe and everyone will play a part in the growth if we elect Barack Obama as President of the United States.

You see, Obama already has the support of the world. The world is waiting for him. The world is ready to work with him. The world doesn’t want to lose America, but the world is waiting for us to do our part.

You may not like me talking about the World in our mix but I hate to tell you, if the World is not involved in this global correction, America will be a third world nation, a nation on the take, a nation’s who’s only might is war and the bomb.
I’ve mention before; Obama will go down in history as the greatest President of all times.

Gaidi