MORE FROM THE VOICE

STORY TOOLS

The redistribution of wealth is full steam ahead. The American Taxpayer "Banker Rescue" Continues: $120 Billion now going to Mexico, Korea, Brazil and Singapore banks.

It looks like the Taxpayer’s $700 billion plus $150 billion in political pork banker bailout is finally going to do some good. “Good,” you ask? Well, good for some more bankers. During the FED’s first meeting on Wednesday they decided to swap some Dollars for some Mexican Pesos and other worthless currencies. It seems that the American Taxpayers will be required to bail out the world. This is more evidence that we were sold out during the banker "rescue plan."

According to Market Watch “The Federal Reserve said Wednesday it would lend up to $120 billion in dollar reserves to the central banks of Brazil, Korea, Mexico and Singapore, one more sign that emerging markets have become the latest focus of stress in the global credit crisis.”

Somebody needs to step up and call for emergency legislation and the repeal of the EESA/TARP law so the American taxpayer doesn't get robbed any more. Is there not one leader in Washington to introduce a bill in Congress to stop this madness? Will that happen? Of course not. This is one sweet deal right here now.

As the heist contines The Nation reported "The swindle of American taxpayers is proceeding more or less in broad daylight, as the unwitting voters are preoccupied with the national election. Treasury Secretary Hank Paulson agreed to invest $125 billion in the nine largest banks, including $10 billion for Goldman Sachs, his old firm. But, if you look more closely at Paulson's transaction, the taxpayers were taken for a ride--a very expensive ride. They paid $125 billion for bank stock that a private investor could purchase for $62.5 billion. That means half of the public's money was a straight-out gift to Wall Street, for which taxpayers got nothing in return.

Folks, are we seeing a breakdown in the America government? Where will this end? Where is our nation's leadership? Where is Congress? How about a lone Senator crying in the wilderness? Any preachers, priests or prophets? Where is the public outrage?

Do you want to guarantee the loans (worthless paper swaps) to foreign central banks? Do you want your taxes to pay the dividends to the shareholders of these nine "rescued" banks? Scripture says, "If the foundations be destroyed, what can the righteous do?" (Psalms 11:3) The answer is not much.

The American Taxpayer has been robbed and nobody cares. Unbelievable! I wonder if Joe the Plummer could get away with this? With the FBI poking around this banker bailout it's going to be interesting to see who's up for pardon January 19th. Here is the FED's press release.

.....

Press Report from the Board of Governors of the Federal Reserve Bank.

Today, the Federal Reserve, the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore are announcing the establishment of temporary reciprocal currency arrangements (swap lines). These facilities, like those already established with other central banks, are designed to help improve liquidity conditions in global financial markets and to mitigate the spread of difficulties in obtaining U.S. dollar funding in fundamentally sound and well managed economies.

Federal Reserve Actions

In response to the heightened stress associated with the global financial turmoil, which has broadened to emerging market economies, the Federal Reserve has authorized the establishment of temporary liquidity swap facilities with the central banks of these four large and systemically important economies. These new facilities will support the provision of U.S. dollar liquidity in amounts of up to $30 billion each by the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore. These reciprocal currency arrangements have been authorized through April 30, 2009.

.......