$700 Billion-Dollar Bailout? Bush II's final insult to America? Just when you thought the nightmare was over, it begins anew.

Oh, yes. He will address the nation.

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All the Jobs. This is really about American Jobs. The lack of them. Bernanke even alludes to the "under trained and under-educated" workforce. He is talking about "us." George Bush calls all of us non-elite, "workers" -- not even American citizens. American "workers."

Well, youngsters, you have been educated, right? After Republicans rewarding those corporations that have shipped American Jobs out of America we now hear they need us to reward them with continued fiscal existence via our bailing them out. Let's see. Would it help to stop this now? Yes. I think it would. But my solutions are radical.

$700,000,000,000. . ?

Look. That is chump change to the astronomical derivative values of the BIS (Bank of International Settlements) in Basel Switzerland.

Link to the following site and explore. The information is most of a year old. But on the world financial stage, money moves like molasses, or maybe like slow lava -- unless it gets "heated up".

http://www.bis.org/press/p080522.htm

At the above site, you will learn that derivatives climbed 15% to $596 trillion (US dollars) at the end of December, 2007.

Just the derivatives are $596,000,000,000,000.

But look at "turnover" and "decline" in Q2 2008 here. . .

http://www.bis.org/publ/qtrpdf/r_qa0809.pdf#page=108

Hey, Cheney is back, wandering around and meeting with the Republicans trying to drum up support for the bailout, worried that there might be a bloody public reaction -- maybe a new administration, or maybe all Republicans who have participated in this and are up for re-election might be risking their jobs -- or worse, their necks? Imagine if the American people staged a new revolution to reclaim the nation from the Federalists, the Alexander Hamilton liars who put Article V in the Constitution to convince the Constitutional Convention Delegates to become a federal republic so the States would sign and approve the Constitution -- and then less than 200 years later, renege on the promise of a bloodless revolution. So Maybe it is time for Main Street to "take it to" Wall Street and clean out the federalist liar moneychangers? (If you do not understand Article V, Wikipedia is wrong on it, but that is another story. See www.foavc.org or www.article5.org.)

Of course, Bush, Chaney, Paulson, Bernanke, Cox, and Wall Street are suggesting (demanding?) a blank check written in a week to solve the problem by giving Wall Street, via the U.S. Treasury, $700 billion dollars. No legal checks or accountability, no courts can reverse or examine the decisions on who to bailout -- all the "no strings attached" of a grant from the taxpayer. Not even an "earmark" tag. This is Bush's final insult to America. I'd like to see the worst President in American history recognized and prosecuted treated for gross malfeasance.

One of the stalwarts of Republican support, Halliburton, on the strength of no-bid deals for the Iraq war, and Dick Chaney's guidance and support for the war for profit in Iraq, moved it's headquarters to Dubai -- where there are more construction cranes per capita than anywhere else in the world. Is Halliburton of Dubai, with a branch office in Houston, still getting money via those no-bid agreements from Cheney's efforts for Iraq? You bet. The total is billions. Part of the drop in the bucket fo the $10 billion/month still being spent to
fund the war in Iraq.

http://projects.publicintegrity.org/wowII/?gclid=CMK4kYrA9JUCFQ89awodD1SLkQ

Do those folks need a bailout? Nah. Even if they ask for help? (they wouldn't would they?)

Now, if you sell bad paper to the Chinese, you know, mortgages that you personally know are sub prime, written and bundled in "bad paper" packages along with other securities -- are there any dangers the Chinese might "not like" the packages? If they tell you they have discovered the packages you sold them are faulty, is there any way you can CYA (Cover Your Actions) in defrauding them?

If you can move from private business to a government job, perhaps you can manipulate things, and cover the bad paper you bundled for foreign sale. Goldman Sachs, Hank's old company affiliation, where he accumulated money and wealth like a magnet dragged through dry Western States sand covers itself with flecks of iron. Of course, Goldman Sachs is getting an infusion (transfusion) of capital from Warren Buffet of around $5 billion preferred stock. (Watch out Warren, of course, even loosing that kind of money would not really affect your personal health or food on the table, now would it?)

Wikipedia estimates the personal fortune of Hank Paulson, United States Treasury Secretary, at $700,000,000. There are several thousand people in the world with that kind of personal wealth. 1000 of these people could furnish Wall Street the $700,000,000,000 the government is asking to be taken from you (us) taxpayers, and your future to insure your "insurance," your fuel, your food service job, and to help you spend more of your money via credit cards. But will these millionaire/billionaires help? Not likely. Will the CEO's cut loose their golden parachutes" No. But we should for their bailout.

WOULD YOU BUY PAPER FROM THIS GUY?

Image: US Treasury, Henry Paulson.

Secretary Paulson, shown here in his first day in office provides his signature for the Bureau of Engraving and Printing – the Treasury agency responsible for printing all of the nation’s currency.

WELL. THE CHINESE DID. What should be done about the bad paper sold to the Chinese? A great many bad paper bits are these supposedly "toxic assets." Does this mean that the Chinese have a claim on US properties? Yeah. Probably. They do have a need to continue to "find" housing for their people, kind of like Tibet, you reckon?

If we get a bailout, will it allow the Hank to buy back the toxic assets or the sheets of bad paper sold to the Chinese? And no Court or oversight? No evaluation of the selected toxic assets? Let Hank hand it out? Should he talk to Chuck?

The bailout should "freeze" foreclosures, reverse them, ARMs for residential real estate should be banned. Period. All residential real estate mortgages should be renegotiated for 15-year or 30 year fixed rates. Not just the ones that are NOT in good standing. I think ALL residential real estate mortgages need to be renegotiated because of the real estate devaluation caused by sub-primes, and the taxes from the bailout affects even (or especially) those with mortgages in good standing. Taxpayers.

I'm not a bit interested in seeing only those that could be considered "victims" of predatory loan sharks (or your usual banks) benefiting alone; but they must be supported, and American Jobs returned, or recast for our national well-being; but for all of us, this must be a correction of the painful bursting of the faulty skim and scam monetary system where wealth accumulation is quantified as a predatory result and not shared (as win win), but used as a sword over those that can be unfairly used manipulated and exploited by members of their own species. This means American Citizens, "workers," taxpayers -- all of us can be improved in a reasonable manner and share in our economy.

For fun, read about stacking money in tall stacks. Is Money "only" Paper?

http://www.xomba.com/the_fine_art_of_stacking_coins_and_paper_money_in_very_tall_stacks

You can compute that if you had 596 trillion dollars total, in "million-dollar notes," each note as thick as a $100-bill, you would have a stack of million-dollar notes nearly 65 kilometers tall.

Imagine the entire planet's derivative financial value in a stack of thin paper "million-dollar bearer notes" more than 40 miles tall!

Gosh. According to Paulson and Bernanke it all begins a serious meltdown in just a "few more days."

Can you eat paper? or Drink it?

We'll see, huh?