Where Is My Money Going To Go?

In Case you wondered where the Largest Market Socialization in history was happening, or have been asleep for the last two weeks or so, you might find yourself asking:

"What happened?"

You see, the government, which, by definition has Zero Monies of its own has decided that the poor anti free market decisions they have been making, the huge risks that they promoted, well, those are your fault. The bad investments Global Banks made in supporting the biggest debt economy of all time? those are your fault too. and now, they have anounced they are finally going to make you pay for your Mortgage Crisis, and the damage wreaked by its involved and precarious global finance shell games.

So, now that the decided who is going to pay, you might wonder:

"Where is my money going to go?"

Ill admit, i havent been covering this from the front lines like i hoped i would, ive really sat back in shock and wondered, what, possibly, do they have the balls to do next. The following is a primarily a large hat tip to WesternRifleShooters,

who has been holding the line and reporting dutifuly, In fact this is only posted here for the convieneince of it, and for more information please go to his page and read the near volumes posted there.

So, this is where they decided your money is going:

Up to $700 billion to buy assets from struggling institutions. The plan is aimed at sopping up residential and commercial mortgages from financial institutions but gives Treasury broad latitude.
—Up to $50 billion from the Great Depression-era Exchange Stabilization Fund to guarantee principal in money market mutual funds to provide the same confidence that consumers have in federally insured bank deposits.
—The Fed committed to make unspecified discount window loans to financial institutions to finance the purchase of assets from money market funds to aid redemptions.
—At least $10 billion in Treasury direct purchases of mortgage-backed securities in September. In doubling the program on Friday, the Treasury said it may purchase even more in the months ahead.
—Up to $144 billion in additional MBS purchases by Fannie Mae and Freddie Mac.The Treasury announced they would increase purchases up to the newly expanded investment portfolio limits of $850 billion each. (On July 30, the Fannie portfolio stood at $758.1 billion with Freddie's at $798.2 billion.)
—$85 billion loan for AIG, which would give the Federal government a 79.9 percent stake and avoid a bankruptcy filing for the embattled insurer. AIG management will be dismissed.
—At least $87 billion in repayments to JPMorgan Chase (JPM) for providing financing to underpin trades with units of bankrupt investment bank Lehman Brothers (LEH).
—$200 billion for Fannie Mae and Freddie Mac. The Treasury will inject up to $100 billion into each institution by purchasing preferred stock to shore up their capital as needed. The deal puts the two housing finance firms under government control.
—$300 billion for the Federal Housing Administration to refinance failing mortgage into new, reduced-principal loans with a federal guarantee, passed as part of a broad housing rescue bill.
—$4 billion in grants to local communities to help them buy and repair homes abandoned due to mortgage foreclosures.
—$29 billion in financing for JPMorgan Chase's government-brokered buyout of Bear Stearns in March. The Fed agreed to take $30 billion in questionable Bear assets as collateral, making JPMorgan liable for the first $1 billion in losses, while agreeing to shoulder any further losses.
—At least $200 billion of currently outstanding loans to banks issued through the Fed's Term Auction Facility, which was recently expanded to allow for longer loans of 84 days alongside the previous 28-day credits.

A quick check of the totals shows that is $1.809 trillion of your dollars that no one asked if you wanted to spend.

And they have no choice, they are told, Not the people, not the taxpayers, not their ellected officials, the ones in charge are now the ones who have been slowly manuvering, the Financial and Beaurocratic Elite. Power Players, who play with the power stolen from the people.

And you pay for every step they take.

Dick Fuld, CEO of the now bankrupt Lehman Brothers, walked off with $490 million for his term of office, but if you cant make your housing payment, you dont get to keep it. No, the government buys it with your tax money, and then they will sell it to another bank or corporation to sell back to you, at a small (inflationary) profit, as long as housing prices dont fall back to what they were before companies like Goldman Sachs set about selling toxic securities to unsuspecting pension funds, companies and individuals around the world, while at the same time selling “short” these securities, i.e., betting that their value would decrease. It is estimated that Goldman Sachs made billions of dollars on this scheme alone, which, if not constituting fraud, certainly borders on it. They Inflated these values with fraud, and now they will make you pay for your losses, not once, but twice.

And everything is going to plan.

http://www.nytimes.com/2008/09/21/business...amp;oref=slogin

Its not hard to see who the winners are:

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.

That sounds like it belongs in a constitutional republic, doesnt it?

http://www.opinion250.com/blog/view/10687/...hello+feudalism

Its not that hard to see who the losers are either:

http://www.treasurydirect.gov/NP/BPDLogin?application=np

http://www.mindfully.org/Reform/2008/Defau...ment21sep08.htm

And to see how the view looked from 2006, see if we are that much closer, yet:

http://www.energybulletin.net/node/23259

Paulson looks a little like Putin, ill admit.

And they want to tell us who is to blame? hah, i laugh, at all of them, and hope, we never forget who took us this far, even as i never stop hoping that we can make it back to where we once were.

Free.

Once.

There is much that can be done, but not to save this ship.

To build our own

III