How does 700 Billion equal 5 trillion in less than 60 days? Let me count the ways..

Lets go back in time, lets say 60 days ago, we were paying something around 3.50 to close to 4.00 a gallon in some parts of the country, and "the market" finally realized that the mortgage market ponzi scheme that we had been running was finally up. Enter Hank Paulson, former CEO of Goldman Sachs, and also our current Treasury Secretary, with a great idea. After a three day closed door session, he and President Bush emerge with a three page document that essentially says that if we give his buddies on Wall Street 700 billion dollars, no questions asked, no oversight, that we can resolve this problem.. Never mind, that the Sec. of Treasury is a cabinet level appointed position. So when Bush is gone in 30 days, he is out of a job, after just giving 700 BILLION dollars to help out all of his homeboys!

Same time, same weekend, different conversation, Hank Paulson, gets on the horn with Billionaire Super Investor Warren Buffet, and Hank asks good ole' Warren for his input on the plan, and Warren gives him his go ahead. Warren then goes and makes an investment of about 3 billion dollars in a small company we know as General Electric, aka GE. And at the same time he "invests" another 5 billion in Hanks old company Goldman Sachs... Mind you Warren Buffet is the head of a publicly traded corporation. And when Martha Stewart got some "inside information" like that, it cost her her company and about 9 months in a federal penitentiary.

The Timeline of Crime
At the time of the beginning of the meltdown we had a deficit of 311 Billion after being in two wars for 5 plus years...

Congress goes into an uproar, and the 700 billion then becomes 850 billion! Now more than doubling our deficit.

One week later. We give AIG another 150 Billion..Now we are at 1 trillion.

US Treasury, (Hank Paulson and Dubya) announce after another closed door meeting with 5 banks that we are going to "invest" another 250 Billion dollars into an ownership stake into US Banks, oh yeah, Goldman Sachs is at that meeting as well. Now we are at 1.25 TRILLION Now triple the deficit.

Numerous states tel US Treasury, "Hey if we don't get at least 200 Billion by months end we will cease to operate." Now we are at 1.5 TRILLION..

Meanwhile, the stock market loses 2 TRILLION DOLLARS in market value in two weeks FLAT! That now means that the average 401(k) holder has to work an additional 8 years on average to make up for that loss!

I'm sorry I can't go on any further, all of that foolishness happened in less than two weeks.


Lets fast forward to today, 4 trillion dollars and a hangover that hasn't hit us yet, later, the US Treasury, Hank Paulson's outfit, gives GE, 158 BILLION dollars in the form of an investment...Wow. And we are arguing about giving the Big 3 Automakers 50 Billion to save 3 million American jobs??????????

If I showed you guys the math as to actually what Hank's "assistance" meant to ole Warren's the INCREASE in his "investment" you probably would be feeling as sick as I am right now. But I won't. Its probably better that you don't know. I have never wanted to be one known as a player hater but DAMN! Come on man?!?!?!?! Any thoughts????