$5 Trillion and Counting: TARP is a TRAP

The the pirates of Wall Street, led by Dirty Hank and Big Ben, have breached the Treasury walls and looted more than Five Trillion Dollars of taxpayer funds. They are now busy spreading it around to their gangster buddies.

That's $5,000,000,000,000. Twelve zeroes. With a five in front.

By comparison, our annual federal budget is around $3 Trillion and our government takes in around $2.2 Trillion per year in revenue.

Henry Paulson is an investment banker from Goldman Sachs, and Ben Bernanke supervised the nose dive of our dollar. Congress, drunk on Fannie and Freddie political contributions, fiddled while the mortgage market burned. Do you trust the people who got us into this mess to get us out of it? The craftiest crooks don't sneak in at night; they devise a cover scheme to calmly take the loot in broad daylight.

Senator Jeff Sessions injects some common sense into this tale of greed and hubris:

“Secretary Paulson thinks he’s an investment banker instead of Secretary of Treasury,” Sessions said on the financial network. “He’s allocating taxpayers’ money right and left without any control. Am I wrong about that?”

“[Senate Majority Leader Harry] Reid and [House Speaker Nancy] Pelosi don’t run the world,” Sessions said.

He also has a dose of common sense for the incompetent boobs who have wrecked Ford, Chrysler and GM:

“So, we have a mechanism for companies that are in trouble which is reorganization and Chapter 11 [bankruptcy]. That’s what would normally happen. It’s happened in other big companies. And it could happen here, but they are determined to see if they can’t move forward with another expanded bailout on top of the $25 billion that we have.”

Finally, there are rumors that the Troubled Asset Relief Program, referred to as TARP, is being renamed Taxpayer Rape And Plunder, now known as TRAP.

http://www.businessandmedia.org/printer/2008/20081111134359.aspx
http://www.forbes.com/home/2008/11/12/paulson-bernanke-fed-biz-wall-cx_lm_1112bailout.html