You are herecontent / Big Bankers Blink; Paulson's Unprecedented Power; Shock and Awe Hints at the Good and Evil We May Soon Face

Big Bankers Blink; Paulson's Unprecedented Power; Shock and Awe Hints at the Good and Evil We May Soon Face

By Rob Kall, OpEdNews

Today's Wall Street Journal reports how Henry Paulson summoned the heads of the top banks in America to meet with him on Monday.

On one side of the table sat Treasury Secretary Henry Paulson, flanked by Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corp. Chairman Sheila Bair.

On the other side sat the nation's top bank executives, who had flown in from around the country, lined up in alphabetical order by bank, with Bank of America Corp. at one end of the table and Wells Fargo & Co. at another.

It was Monday afternoon at 3 p.m. at the Treasury headquarters. Messrs. Paulson and Bernanke had called one of the most important gatherings of bankers in American history...

Hank Paulson and Ben Bernanke gave this collection of oligarchs a lecture, for an hour, painting a "dire portrait of the U.S. economy and the unfolding financial crisis."

Then Paulson gave them an offer they couldn't refuse-- that the US was going to buy billions of dollars worth of shares of their companies. Paulson handed each of them a term sheet that dictated how the government would be dealing with their companies, how the government would define how executive pay and dividend policies would be set.

They agreed, signed the contract, bought the deal-- no dickering, no negotiations. Talk about shock and awe.

This is a very important lesson for the incoming President and congress-- the power that can be wielded, without congressional approval-- to affect the most basic, core operations, philosophies and functions of our economy, our national infrastructure.

Imagine if this kind of huge thinking and action was applied to global warming, poverty, universal single healthcare, social justice. In the swipe of a pen a lot of goodness could be accomplished.

But also, imagine what may lay in store for us in these final days of the Bushadministration. Paulson exercised this power with the authorization and fiat of Bush and the congress. There is SO much potential for this degree of power to make a great difference, but I fear it is also frightening to contemplate what Bush and Cheney, as they too realize what's just been done, start planning their last days of decrees, pardons, crimes, corruptions and thefts.

Funny thing. Just a day or two ago, I was telling an impeachment activist that now is not the time to push for impeachment. But damn, when I think of the damage the criminals in the White house still have the power and potential to do, I take it back. Come november 5, when the election is over, the congress has an obligation to protect us from the final days of Bush and Cheney. It's never been about holding a trial in the senate. The house must bring up enough dirt to force the Republicans in the senate to insist that Bush and Cheney resign and the Democrats must agree to allow the Republicans to appoint historic replacements-- for the short term-- a woman, a latino, perhaps a black-- maybe even Condeleeza Rice-- since it's for such a short term, or Kay Bailey Hutchison. Or go with someone who will never run or president, who's a moderate, like John Warner or Arlen Specter. Give the GOP a chance to do some good and start the healing, and appoint someone who will allow the winner of the election to start appointing replacements immediately, or even better, perhaps best, allow the new president to take office a few months early. America needs this.

Of course, if Obama wins, we can expect a horrendous battle as McCain appeals every close state-- you know, the kind of thing that Gore and Kerry should have engaged in.

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THE 2 PARTIES, the donkeys and elephants, are nothing more than a 2 headed-hydra monstrosity, using fear and terror (elephants), OR fake promises (donkeys), to garner their votes while usurping the Constitution, all for the sole purpose of covering their butts by retaining their perks, privileges, positions of power and great wealth. No way, WRITE IN SOMEONE ELSE, anyone else.

Why a write-in?

We have a REAL LIVE guy fighting this very battle!

Ralph Nader.

We also have three more: Cynthia McKinney, Bob Barr and Chuck Baldwin!

Al K.

and absolutely, we have McKinney, Barr, and Baldwin, as well as Nader.

All of these named above have no desire to march to Israeli drumbeats to a widening Oil and resource war in the Middle East, as 'proxies' for the Knesset.

That article nails it. The two major party candidates will have virtually identical positions on the issues (those of the corporations that fund them) and force you to make the decision between ONLY them on the basis of unimportant factors like "experience" and who is wearing a flag pin while excluding the third party candidates who have alternatives that will benefit US. They do not DARE include candidates like Ralph Nader who has had years of experience battling corporate greed. The major candidates "experience" has been in the area of learning how to feather their own power by kissing up to the corporate fat-cats for money. This is why the term limit movement exists! If the presidential debates included ANY of the third part candidates the "republicrats" would both be nailed to the wall! They would never allow that to happen!

This is why voting for either Obama or McCain is wasting your vote. Neither deserve it! You are just voting to continue the rule by the corporations that are bankrupting us to expand their profits. This $700 Wall St. bailout should convince you of that! The "don't waste your vote on a looser" is nothing more than propaganda. They are playing you like a fiddle making you vote for them no matter how they behave! SUCKERS!

Al K.

Except I'm voting for chuck baldwin and dismissing ralph nader, due to his support for the UN, which is also globalist

I Want the U.S. out of the U.N. and out of america.

The Republicrats have destroyed this country.

No More Two Party dictatorship.

After he loses again?

IMPEACH BUSHCO & RICO PNAC/AIPAC...PNAC is Bush/Cheney's "Helter Skelter" !



I see you still haven't learned anything. I can't say I'm surprised!

Nader HAS NO MONEY! He has no corporate sponsors like the "Republicrats" do.

As usual, you comments are totally devoid of any logic. Your link does not even mention Nader!

Al K.

You know you'll be in the same situation 4 years from now. Help to build up a viable 3rd party for 2012, starting now. The Green and Independent Party strategies are obviously ineffective. They need a strategy and volunteers years ahead of an election to gain credibility and visibility. By the time the next set of candidates announces in 2011, a viable 3rd party must already have a position of strength, enough to get serious press coverage.

There's simply no gain in making a protest vote after the press and the 2 powerful parties have long succeeded in stifling any alternative. If such a 3rd party miraculously were to gain 10% of the votes this November, how long will that be a "story?" Maybe for 1 day, before that party again becomes invisible. That's because there is no context in the public discourse that could give such a story legs. Nobody knows the platform of these parties today. So there is no "protest" that will actually be heard and understood by enough people.

Third parties have to start to play ball, and they must do that when they have the best chance to be heard: long BEFORE the press gets into horse race fever. They may even have to can their presidential ambitions for the next cycle and concentrate recourses on getting some good people into local governments and Congress first.

Our country is headed for a major crash and bankruptcy if the two-party rule by the corporations is not changed. Of course it will be too late then. At that point it will be realized just who was wasting their votes. "I told you so" will be a shallow victory!

Al K.

...and I can't understand why they haven't been doing this all along. It's like they expect to win without making any effort.

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