by Mike Gray
Can this be filed honestly under “Unintended Consequences”? And exactly what happens when “the American government shoulder[s]” the risk? Who’s actually at risk here?
T
he $700 billion U.S. bailout program launched in response to the global economic meltdown had a far greater impact overseas than other countries’ financial rescue plans did on the U.S., according to a new report from a congressional watchdog. Billions of dollars in U.S. rescue funds wound up in big banks in France, Germany and other nations.
Major French and German banks were among the biggest beneficiaries of the U.S. rescue of American International Group Inc., yet the American government shouldered the entire $70 billion risk of pumping capital into the crippled insurance titan. The report compares that with the $35 billion that France spent on its overall financial rescue program and the $133 billion that Germany spent. [Emphasis added]
Doesn’t that make you feel good about your government? Chuck Baldwin thinks you should curb your enthusiasm:
This is the same government that is collecting nearly 2 billion pieces of electronic correspondence (e-mails, text messages, cellular calls, phone calls, etc.) EVERY DAY from virtually EVERY CITIZEN in the country. This is the same government that wants to electronically take our clothes off and look at every square inch of our naked bodies every time we get on a commercial airliner. But this same government was not able to obtain the data necessary to determine which foreign banks were going to receive billions of taxpayer bailout dollars? And, “There were NO DATA ABOUT WHERE THIS MONEY WAS GOING”?
Ladies and gentlemen, I ask you, who are the morons here? These government politicians and bureaucrats (who are either the most inept, incompetent fools to ever live, or the most deceptive, duplicitous con artists on the planet), or We the People for putting up with these nincompoops?
