Tuesday, October 7, 2008

It’s Official. Less than 2 business days after the bailout passed the money is being diverted.

Hint to government officials: If you want the American people to have confidence in you and the markets, quit lying! Per the Fed press release, (click on the title of this posting for a link), “The Treasury believes this facility is necessary to prevent substantial disruptions to the financial markets and the economy and will make a special deposit at the Federal Reserve Bank of New York in support of this facility.” Necessary? Probably more necessary than purchasing bad exotic credit bets from Wall Street! Still, does anybody remember what they told us they needed the money for? Mortgage something or another. Is it ok for our elected officials to deceive us in order to get what they want? There cannot be a more blatant violation of the public trust than what we are currently witnessing. It’s no wonder people believe in UFOs. After seeing this, they might be right.


melpomene said...

Are you really surprised by their deception? Our government is less big brother than a big daddy who thinks only he knows best and will lie to make whatever selfish ideal that is happens.

Jerry said...

I’m surprised by how little effort they have made to disguise their deception. They didn’t really try to hide the fact that they misled us, and I have to conclude you are correct. I agree with your assessment that our government has more of a Big Daddy mentality and was outlining a post about that very subject, about the arrogance it reveals and how they rely upon it to justify their actions. On a side note, thankyou for taking the time to leave a comment. I wish I would have had t-shirts made up to give away. You are my first customer. Have a great day!