With the braying of 328 yahoos -- members of the House of Representatives
who voted for retroactive and punitive use of the tax code to
confiscate the legal earnings of a small, unpopular group -- still
reverberating, the Obama administration yesterday invited private-sector
investors to become business partners with the capricious and increasingly
anti-constitutional government. This latest plan to unfreeze the financial
system came almost half a year after Congress shoveled $700 billion into the
Troubled Assets Relief Program, $325 billion of which has been spent without
purchasing any toxic assets.
Referring to members of the House of Representatives as yahoos is overly insulting - to the true yahoos of the country, wherever they are. Barney Frank and his cohorts grow ever more disgusting as they struggle to get face time on TV news by making ever more outrageous claims about the AIG bonuses and American business in general.
After week after week of attacks on the private sector for its greed, Obama and the Congressional Democrats now beg the private sector to save their bacon by investing in the toxic assets. If the toxic assets turn out to be not so toxic, will the Democrats then demand a 90% tax on the profits?
George made a mistake in one of his comments. He said that "TARP funds have, however, semi-purchased, among many other things, two automobile companies" while even the Swedes say that Saab is on its own and "The Swedish state is not prepared to own car factories."
Actually, the American government isn't purchasing the car companies. They're simply providing the cash so the companies can continue the UAW contracts to pay off the union for its campaign contributions and votes for Obama.
Of course, they'll be needing another installment soon because nothing has been done to make the companies competitive.
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