The bailout of Bear Stearns by the Federal Reserve hasn’t happened since the Great Depression of the 1930’s. It didn’t work then and it won’t work now because a bailout really doesn’t fool anybody.

Rescuing a boatload of financial pirates like the traders at Bear Stearns only feeds the ambitions of other financial vigilantes who figure that as long as federal government regulators are willing to give them a couple of hundred billion dollars every time they pass GO, why in the hell should they be diligent when extending lines of credit to obvious snake oil set-ups like the sub-prime mortgage hustle?

They use your money to plug the holes they made in their investments in order to ensure huge profits for about 10 guys. The rest of the operation is nothing but legitimized hornswoggling. Even the wage slaves who dressed to the 9’s every day to provide dignity to these whore house blue bloods are walked one at a time off the plank of pink slips while the money they stole for their masters disappears into untraceable numbered accounts in countries where crocodiles thrive in mangrove lagoons.

And now it’s your turn. Rich people know better not to use their own dough to get their ass out of a jam. Not when you’re willing to put up the bail. And that’s just what happened on Friday when the Federal Reserve used half of all its cash- on- hand ( half!) to make sure Bear Stearns Board of Directors still have a place to go to work on Monday morning.

And it gets better.

The Federal Reserve is really an illegitimate con job that manufactures money so rich people won’t have to worry about going broke. The Founding Fathers would never approve of such a scam so it wasn’t until they were all dead that the Federal Reserve was created.

Of course nobody else on Earth believes a goddamned thing the Federal Reserve says or does because they know it’s all baloney. Nobody that is except the American taxpayer who unknowingly sacrifices his standard of living so that the people with all the money won’t go out of business.

The business of fleecing the rest of us.

This entry was posted on Sunday, March 16th, 2008 at 4:45 pm and is filed under Stuff I know. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.