The following image was used by my friend Charles Goyette whose talk show I was on every Wednesday for several months. Charles left for personal reasons and I miss him. Rumor has it he is working on a new deal and I certainly wish him the best of luck.







The above image is from STOP THE $700 BILLION SWINDLE! The article is about our efforts to kill the Paulson Plan. It appeared about a week ago. You have to scroll down to see it. I was reminded of it when "Andrew" emailed me just a bit ago asking me to post a link. I will do so gladly and also add a link on the left sidebar pointing to Charles' Blog.



Andrew Writes:



Suggested Fax Text

That Giant Sucking Sound

Stop The Largest Tax Increase In History

Paulson Proposal Will Bail Out Foreign Investors

Rep. Brad Sherman, D California

Larry Kudlow:

Rep. Brad Sherman:





The actions of Treasury Secretary Paulson go far beyond disgusting, to outright betrayal of US citizens.

What Would $700 Billion Buy?

$700 billion would buy 23 of 24 banks in the KBW Bank Index

At yesterday's prices, the government could buy 23 of the 24 banks in the KBW Bank Index, including Bank of America Corp. and Wells Fargo & Co. And it still would have money left to buy a stake in JPMorgan Chase & Co., the largest company in the index.



Infusing capital directly, though, was too simple for Paulson. It lacked subterfuge. He decided the way to save the financial system from the evils of structured finance was through more structured finance.



In short, Paulson's plan was one part robbery (with the banks doing the robbing) and one part accounting sleight of hand. No wonder House members rejected it.



Such simplicity might feel unnatural to someone like Paulson, who used to run Goldman Sachs Group Inc., or a congressman such as Barney Frank who depends on campaign checks from bankers like an infant needs mother's milk.

Barney Frank and Nancy Pelosi Beholden To Special Interests

What Congress must remember is that Americans don't exist at the pleasure of the country's banks. It's supposed to be the other way around. There's still time for the politicians to come up with a rescue plan that will work. The important part is making sure you and I get something of value in return for our money.

Senate Hypocrites

Paulson Bill Is A Disgrace

This bill is so full of holes and toothless provisions it is a disgrace.



Paulson Bill Creates No Jobs



Th

Amazing Authority To The Treasury

If you vote for this Bailout Bill I will vote against you.