Кому дадим мы тратить наши деньги?

«Дайте 6 летнему ребенку много много конфет, а потом поставьте 7-летнего за ним присматривать».

Exploiting the breakdown in US and global

financial markets, the financial aristocracy, which is responsible for

the crisis, is exercising its control over the government, both

political parties, and the media to implement policies of the most

far-reaching character without any genuine debate or discussion. As in

the aftermath of 9/11, it is seeking to utilize the crisis to push

through policies that would otherwise be considered entirely


Make no mistake: The working people, who are the victims of the

financial parasitism of the ruling elite, will foot the bill to bail

out those who have enriched themselves by plundering the social

wealth. The massive expansion of budget deficits and the national debt

as a result of this plan will be used to justify a brutal assault on

basic social programs, education, housing and the wages, jobs,

pensions, and health benefits of the working class.

The government has pegged the cost of the program-by which the US

Treasury will purchase virtually worthless mortgage-backed assets from

banks and other financial institutions-at $700 billion. This sum

already represents the biggest corporate bailout in world history. It

is larger than the annual budget for Social Security and the combined

annual outlay for Medicare and Medicaid. It has been estimated that

such an expenditure translates to a cost for each US family of

approximately $10,000.

Combined with the stated cost of other corporate bailouts and related

outlays carried out over the past several weeks-$200 billion in the

government takeover of mortgage giants Fannie Mae and Freddie Mac, $85

billion in the takeover of the insurance conglomerate American

International Group (AIG), $50 billion to insure money market funds,

and $200 billion in Treasury transfers to the Federal Reserve

Board-the $700 billion handout to the banks exceeds the total

allotment for all discretionary spending, excluding the Pentagon, for

fiscal year 2009.

The first provision establishes the unlimited and unilateral authority

of the Treasury secretary, an unelected official, to order the use of

taxpayer funds to purchase whatever «mortgage-related» securities, at

whatever price, at whatever amount and from whatever financial

institutions he chooses.

It states that the secretary-currently Henry Paulson, the

multi-millionaire former CEO of Goldman Sachs-is «authorized to

purchase, and to make and fund commitments to purchase, on such terms

and conditions as determined by the secretary, mortgage-related assets

from any financial institution…»

The proposal states that the government will designate «financial

institutions» to operate the bailout program. This means that the

government will hand over management of the program to some of the

very corporations that are responsible for the crisis and which stand

to profit directly or indirectly from the bailout.