-- Posted Tuesday, 30 September 2008 | Digg This Article | Source: GoldSeek.com

Jack Welch showed very clearly what he and other elitists think of the rights of the American people while giving an interview on CNBC last night.  He said he couldn’t blame Congress for not voting for the bailout package with the election just around the corner because politicians were receiving negative feedback at the rate of 100 to 1.  So, according to Welch if not for the upcoming elections Congressmen could be counted on to ignore the desires of their constituency that they have supposedly been elected to “represent” and rollover for their masters at the expense of the American people.  Whatever happened to the concept that the Congressmen were supposed to be representing the beliefs and rights of the people in their district and presenting that opinion up the line?  If you just pay close attention to what speakers like Welch say you get the clues that something has gone dramatically wrong with the political system in the United States.

Another big tipoff out of the mouth of Welch was his ridiculous notion that the bailout was an investment in the mortgage market for the American people.  I guess he felt compelled to go on national TV and let us know how stupid we all are and how we need the US Government to run to our rescue and get us invested in this great mortgage thing they have going.  Hey Jack, back off!  If I want to invest in mortgage securities I’ll find a way to do it on my own.  And by the Jack, I don’t want to.  If you think it’s such a great idea feel free to peel off a few hundred mil of your own scratch and knock yourself out.  And since you think it is such a great idea, get some of your comrades to join in, maybe you can start with some of your buddies at Fannie Mae and Freddie Mac where untold billions seemed to just disappear into thin air.  Since when were you guys so kind as to let us all in on such great investment opportunities as this mortgage thing when you never let us participate on your “inside” deals in the past.  Is it possible that you leveraged up GE with the same toxic waste as all the other financial companies that are dropping like dominos?  We may soon see how GE has been run into the ground.

These are the financial titans that have brought this economy to its knees.  Everyone please mark this down.  Jack Welch says now, September 2008, is the time to invest in mortgage securities.  Hold him to it.  Remember Hank Paulson said less than a year ago that this was the strongest economy he had ever seen.  Now he claims it is on the verge of   total collapse.  To prove it, he will back away from the stock market with his Plunge Protection Team and let the markets fall under their own weight unless you give unlimited money and rights to the Fed and the Treasury, and get this anything they do will never be allowed to be scrutinized by judicial review at any time in the future.  You just can’t make this stuff up.  The criminals have arranged their pardon before they have committed new crimes.  That is literally part of the new legislation they are trying to bully through Congress.

These elite business titans are either some of the dumbest rocks on the planet or they are exceedingly dishonest and self serving.  Whichever it is, they certainly should not be entrusted with $700 billion carte blanche.  It appears they continue expanding upon the very actions that have caused us to arrive at this moment of cascading defaults.  Nothing they have said or done has shown that any of their methods have or will change to any discernable degree.  Based on what they have been saying in their recent appearances I wouldn’t entrust them with money to pick up the dry cleaning never mind $700 billion to “save the world”.

Richard J. Greene

September 30, 2008

Clearwater, Florida

-- Posted Tuesday, 30 September 2008 | Digg This Article | Source: GoldSeek.com

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