Tuesday, December 7, 2010

In Dealing With Blackmailers, We Can Help You, Mr. President

He will be "alone" as long as he appears to be under the spell of the Plutonomis­ts. I voted for him not to get the best deal from the Republican­s, but to be a champion for the interests of the 98% working hard and playing by the rules.



If he had taken Mr. Brant's advice earlier and clearly drawn the lines of what was at stake and asked us to sacrifice for the heart and soul of our country, I for one would have followed him yay into the valley of shadow of death.



Now, I have come to believe that he does not understand what is at stake and that he may be too beholding to his friends at Goldman Sachs to stand and fight for the dying middle class in this country.



One example, I need a loan to grow my business. My profits are up this year and I could create jobs. But the banking world has a rule called the "3-6" -- pay 3% for deposits, lend at 6% and make money on the 3% margin. Now they are given money at 1/4 percent from the Fed, lend it back to us at 3 and 3/4 and make a 3 1/2% margin with no risk or work at all. Why on earth would they take a chance and lend money to me? They have free money secured by the full faith and credit of the US of A and don't need us peons.
About Bush Tax Cuts
Read the Article at HuffingtonPost

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