High Stakes Jokers

Why does this feel like another 9-11?

Stunning:

WASHINGTON — It was a room full of people who rarely hold their tongues. But as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silence at first.

Mr. Bernanke and Treasury Secretary Henry M. Paulson Jr. had made an urgent and unusual evening visit to Capitol Hill, and they were gathered around a conference table in the offices of House Speaker Nancy Pelosi.

“When you listened to him describe it you gulped," said Senator Charles E. Schumer, Democrat of New York.

As Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the Banking, Housing and Urban Affairs Committee, put it Friday morning on the ABC program “Good Morning America,” the congressional leaders were told “that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.”

Mr. Schumer added, “History was sort of hanging over it, like this was a moment.”

When Mr. Schumer described the meeting as “somber,” Mr. Dodd cut in. “Somber doesn’t begin to justify the words,” he said. “We have never heard language like this.”

“What you heard last evening,” he added, “is one of those rare moments, certainly rare in my experience here, is Democrats and Republicans deciding we need to work together quickly.”

Although Mr. Schumer, Mr. Dodd and other participants declined to repeat precisely what they were told by Mr. Bernanke and Mr. Paulson, they said the two men described the financial system as effectively bound in a knot that was being pulled tighter and tighter by the day.

“You have the credit lines in America, which are the lifeblood of the economy, frozen.” Mr. Schumer said. “That hasn’t happened before. It’s a brave new world. You are in uncharted territory, but the one thing you do know is you can’t leave them frozen or the economy will just head south at a rapid rate.”

As he spoke, Mr. Schumer swooped his hand, to make the gesture of a plummeting bird. “You know we’d be lucky ...” he said as his voice trailed off. “Well, I’ll leave it at that...”

Stunning. Hard to think, isn't it? Massive government rescue of all the credit markets, including mortgage, or else...

Aside for the fact that Bu$hie's Ba$e will end up with hundreds of billions of petrodollars from the U.S. Treasury, the Feds- or whatever the Company is that controls them- will end up with control of virtually the entire credit industry of the United States. They will possibly own your mortgage. They will certainly set the interest rates on your credit cards.

For your protection, of course.

Arthur Silber notices this too:

...The ruling class wins. The ruling class always wins.

Suckers. Yes. Me, too.

The ruling class are bastards. Whenever you think they've hit a major snag, consider the problem again. Then once more. You probably missed something...

It feels like another 9-11. Another dose of the Shock Doctrine. For security, for $ecurities, we surrender our freedom, or have it surrendered for us by our legal Representatives, who might just make a buck or two off of this too.