Why Just Us? Victims Of A Worldwide Bailout Scheme

We are being told that if this trillion-dollar bailout to be paid for by the US taxpayer is not done, global banks will suffer, and we should bail them out also. Translated... even more bailout money, to be paid back by the U.S. taxpayer.

OK, if greedy banks in other nations climbed on the sub-prime mortgage market bandwagon and now have their cajones stretched out over the chopping block, let the countries that created those banks bail them out, NOT the U.S. Taxpayer, who really had nothing to do with all this financial flim-flammery, but who is now expected to pay for it all... worldwide.

That, or let those institutions go under, sell their assets to better managed and more sensible financial institutions. After all, all these "failed" banks and mortgage houses have multiple billions of dollars in assets. You have to remember that all those "worthless" mortgages are actually titles to millions of recently built homes, a massive reserve of real estate assets that will be recovered. Better to sell those assets, rather than hammer the American taxpayer into the ground. What they are not telling us is that there are thousands of banking and financial institutions that have not participated in this mortgage scam and are not going under, so the system will not collapse.

Poorly managed businesses - no matter their size - deserve to be eliminated and replaced, not bailed out by their cronies in government.

Keep in mind that billions and billions of these bailout dollars would be used to cover the asses of scam artists worldwide.

Just because a foreign bank had business dealings in the United States gives them no front-line privileges to the public trough. If they made bad decisions motivated by greed... let them pay the piper, not the U.S. taxpayer.

I say no to all of it. Take our medicine now, before we are beyond help. These expanding bailouts will put incredible strain on the U.S. money system:

The dollar will get ``crushed,'' as the extra spending reduces the allure of U.S. assets to foreign investors, said John Taylor, chairman of New York-based International Foreign Exchange Concepts Inc., the world's biggest currency hedge-fund firm.

In plain English, or as Bloomberg puts it, the dollar is "falling worldwide". That means the dollar is becoming more and more worthless, which also means that everything from food to gas will get more expensive here in dollarland.

Too much strain and the dollar will collapse. Like I say, better to take our medicine now, while there's still a chance to save the patient... us.