The Bush Regime: One Huge, 8 year Ponzi Scheme

RICHARD A. STITT FOR BUZZFLASH

"The mind is the only weapon that doesn't need a holster."
-From the movie, Paul Blart: Mall Cop

From Harvey Pitt to Christopher Cox, both Bush-appointed SEC chairmen, we can now see more clearly the chronology of the most criminal administration in the history of our country. From Enron to AIG to WorldCom to Lehman Brothers to Bear Stearns to Goldman Sachs, it was all a titanic Ponzi scheme from the get-go.

Yet, what better way to detract from this well-planned and well-backed rip-off of both American and foreign investors than a good old-fashioned war -- even if the reasons for it, WMD, had to be fabricated to keep the unsuspecting lambs who were investing in a burgeoning and bloated corrosive Wall Street from finding out they were being led to slaughter.

While Bush was putting 4,300 U.S. military in body bags and tens of thousands of Iraqi citizens in early graves, the war drums were being beat so loudly and the propaganda for war so intense that Americans were conned into believing that Bush-Cheney, Donald Rumsfeld, Richard Perle, Paul Wolfowitz, Douglas Feith, Richard Armitage, Colin Powell, Scooter Libby, Condoleezza Rice and others had to bomb, immolate, invade and occupy Iraq or we would soon see mushroom clouds over all our cities.

In the meantime, the band, that is, the greed-head bankers' band of thieves and Wall Street swindlers, ran amok with a wink and a nod from SEC Bush cronies who opened the door of the henhouse and said to the foxes, "Go get 'em, they're all yours; get your fill."

In the congressional hearings following the Enron debacle we became familiar with the term, SPEs, Special Purpose Entities, which was voiced over and over. Today, we hear the terms, CDOs, Collateralized Debt Obligations.The SPEs, were footnotes, according to the corporate-finance officers, that required 500 pages of explanation. Which, of course, nobody really understood. CDOs, we are told, were packaged risky loans that were designed to fail and that is exactly the pact that Abacus, one of the several hedge funds, and Goldman Sachs agreed to when they guaranteed that failure of the worst of the worst subprime loans meant millions and even billions in salaries and bonuses for themselves.

There you have it: a synopsis and 10-year chronology of the out-of-control White Collar thievery that has brought our country to the brink of financial ruin. And guess what else? They most likely will all get away with it -- again.

Why will they get away with it again? The Republican Party, buoyed by the perception that they will take over both houses of congress in November and euphoric that the five-person partisan activists on the U.S. Supreme Court Roberts, Alito, Thomas, Scalia (RATS) plus one inaptly named swing vote, Anthony Kennedy, ruled that corporations have the same rights and privileges as individual American citizens (Citizens United v. Federal Election Commission) who are now free to funnel tens of millions of dollars into political campaign coffers to get more Republicans elected. In fact, they declared corporations as persons. One can only speculate at what stage of development these Rosemary's Baby embryonic corporations became viable beings.

All forty-one Republicans recently signed a declaration that they will oppose any banking reform legislation. Saying "No!" to America of course is nothing new for the muck-spewing GOP. But, the "Hell No!" Republicans and their violence-prone Tea Party spawn are so depraved and so consumed with Barack Obama hatred that they will do anything they can do to usurp, obstruct and subvert our democratically elected government.

Republicans are on a crusade to take back the reins of power at any cost so that they can resume the same predatory economic tyranny against working Americans that resulted in hundreds of bank failures, millions of bankruptcies, lost jobs and pension and health benefits while rewarding the greedy corporate few. They have pledged to "repeal and replace" the healthcare-reform legislation that promises to bring the much-needed help for over 30-million Americans who have been swamped by medical bills, skyrocketing health-insurance company premiums and credit-card company abuses which have buried millions of people in unprecedented debt.

If they take over congress in November, what are the Republicans' plans for helping American citizens with an unemployment rate at 10%? Will Republicans once again cut taxes for the wealthiest 1% of the population and try to revive their old, failed soporific of trickle-down economics? Or, will they simply bide their time, tread water, say "No!" to everything President Obama is trying to accomplish and wait to vault their Tea Party exemplar, Sarah Palin, into the White House in 2012?

If that's their agenda then it's not too late for the Fourth Estate, once the beacon of truth that held our leaders to account, to wake up and begin calling the GOP and their Fox News Tea Party harlots out on every single threat they are making against our president, our freedoms, the U.S. Constitution and the foundations that have made our country the most successful democracy in the world. They owe it to citizens today but also for future generations.

RICHARD A. STITT FOR BUZZFLASH

Let The Sun Shine In......