Thursday, September 11, 2008

Glenn Beck: Bailout Stealth to Socialism

Glenn's introduction on his Wednesday program to the topic of the government's takeover of Fannie and Freddie is a must view/read.

Senator Bunning was unequivocally superb.

Ron Paul was more than well spoken on the grossness of the Federal Reserve, and the irresponsibility of Congress.

Net the Truth Online

Obama Responds to Lipstick Comment Controversy; Can Hillary Help Obama?; Automakers Seek Government Bailout

Aired September 10, 2008

First, welcome to "THE REAL STORY." Two months ago Treasury Secretary Hank Paulson responded to investors` worries over the mortgage market by issuing this long-winded never-ending statement that says, "Today our primary focus is supporting Fannie Mae and Freddie Mac in their current form as they carry out their important mission". I guess the key word in that statement was "today."

Eight weeks later those companies are no longer in their "current form". In fact, there is hardly any company left in them at all. They are more like a massive government agency. Goody.

I don`t remember voting for that agency or authorizing over $5 trillion in debt to be put on our country`s already bloated balance sheet. Do you remember that vote?

Here`s the one that will make blood shoot out of your eyes. Senator Chris Dodd, he`s the guy who usually has no problem spending your money. Even he is irritated over his lack of influence on this.

After hearing about the take over, he said that it`s probably necessary. Sure would like to know more.

I`m sorry. What did you say? You would like to know a little more? I`m sorry to be a stickler on details here, but weren`t you the chairman of the Senate Banking Committee? I`m pretty sure you are. I thought you would inquire about multi-trillion dollar takeovers before they happened. Call me crazy.

"THE REAL STORY" is that we have lost control over our financial system. It`s like you know that game "Whack the Mole?" We`re so focused on bashing the head of whatever pops up in front of us, it surprises us, we have no long-term plan, we have path to victory. May I quote the Democrats? We have no exit strategy.

Our only vision for the future is that all of our losses should be socialized so we can pretend that we don`t have problems anymore. Forget about tomorrow. We have no problems today.

It`s like that "shared prosperity" that you keep hear being from Obama; you know, minus the prosperity part. Here`s the question. Nobody seems to be asking this. If we are to believe our leaders that Bear Stearns, Freddie and Fannie all had to be rescued to save our entire financial system from collapse, what does that say about our financial system?

Are these people really trying to tell us that America`s economy could be brought down by one mismanaged company? And if so, these people are guilty of gross negligence for getting us into this position. If not then they are lying.

Either way, you can see why our leaders are held in such high regard right now. The truth is that scaring people with threats of collapse is right out of the Communist manifesto. You convince people that they can`t survive without the government and lo and behold, they will run to the government.

There is no trust with our leaders and no confidence and worse, no accountability in Washington. When a Republican administration can take us this far down a Socialist road with so little objection, I can`t imagine what is coming our way next.

Republican Senator Jim Bunning is from Kentucky. Apparently he can`t imagine it either. He`s called for the resignation of Hank Paulson and Fed chairman, Ben Bernanke yesterday. Good for you, Senator. Good for you.

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