Wednesday, September 24, 2008

Bailout of Wall Street is Economic Fascism

"Treasury Secretary Henry Paulson's $700 billion bailout of Wall Street is economic fascism, pure and simple.

"Section 8 of the proposed plan says: 'Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.'

"This is incredible! Paulson, who came to the White House from Goldman Sachs, wants to be dictator of the bailout to Goldman Sachs and his other buddies on Wall Street. He's telling Congress, 'Just give me the money and then butt out.'

"The future of our nation and our form of government is on the line.

"Not only does Paulson want dictatorial powers, he wants to make taxpayers pay for every bad mortgage in America and he wants to make welfare queens out of his Wall Street cronies. This is a marriage of Wall Street and politicians that would make Benito Mussolini proud.

"Tell the Paulson-Congress-Wall Street axis of corruption: No deal. The bucks stop here, and they aren't going to Wall Street.

"And conservatives must stand up and say, loud and clear, to their Senators and Representatives: We will not tolerate any bailout of Wall Street millionaires.

"This is going to be hard for almost every member of Congress, given the culture of corruption that prevails in Washington. Since 2002, the financial industry has given more than $1.1 billion to congressional candidates. And that's not including the hundreds of millions spent on lobbying. Now Wall Street is saying: It's payback time.

"Let's put our Senators and Representatives between a rock and a hard place. To counter the pressure they're getting right now from Wall Street's lobbyists and shrills, I urge every conservative to call their Senators and Representative and say: "NO bailout for Wall Street millionaires. Period."

"Please do this immediately, as the Bush Administration is trying to ram this through Congress this week despite overwhelming public opposition. This could be one of the two or three most important actions you take this year as a voter and citizen."

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