“International oil companies are submitting bids Friday Dec. 11, 2009 for 15 oil fields that represent about a third of Iraq’s known oil reserves, although fears about security in some restive regions of Iraq have caused concern for the oil companies.” In case there was ever any question as to why we went into Iraq, the above quote from AP should clear it up. The only thing the White House ever wanted was a stable Iraq, under a U.S. puppet, so Big Oil would feel comfortable while looting Iraq’s oil reserves.
There is another question I have, however. Late in Bush’s term we were about to go into financial meltdown. The banks had made billions of dollars of loans to Americans who were either to greedy or too ignorant to know better. These notes were re packaged and sold to other unsuspecting ignorant and/or greedy people. Of course, like a giant Ponzi scheme, eventually the original borrowers started to default and that made all that paper “toxic.” The President and his buddies put together a scheme that would take taxpayer money and purchase all that paper so the greedy folk would not take it in their shorts. That was called TARP. The money was given to the banks with no strings. The ONLY thing I have seen them do with the money has been to throw parties and pay large bonuses. Ostensibly the people holding those toxic notes were reimbursed at face value.
So, here is my question. If those notes represented the face value of those mortgages, then why are people still being foreclosed upon? Their notes were paid off. Why are the banks taking the property for which they have been paid? If that answer is so that the banks can repay TARP, then why are the banks not renegotiating those notes instead of foreclosing?
Here is another question. If sixty to eighty percent of the people in this country want the public option in healthcare, why is congress voting against it? The answer comes down to what an economics professor told me in my first econ course. “It is not one person – one vote in this country, it is one dollar – one vote.” That was back in 1964. It has only gotten worse since then.
The banks are looting our government and stealing from the hardworking citizens of this country. They are usurious in their pursuit of our meager attempts to make ends meet in an increasingly hostile economic environment. If that were not enough, the healthcare industry stands ready to plunge us even further into an economic hole. Besides facilitating the above egregious acts, our government has embroiled us in a war against an “idea” from which we can never emerge. Enough is enough.