TOO BIG TO FAIL! – April 30, 2009

Posted on April 30, 2009. Filed under: Uncategorized |

“Yeah! We did it.”

We first heard the term, “too big to fail”, last fall when then Treasury Secretary, Hank Paulson, told Pres. Bush that the U.S. government had to “bail out” the banking industry. The public was told that we had to act immediately or the entire banking industry would fail and severely harm the American economy and that would doom the world’s economy.

Since then, we’ve been told repeatedly that big insurance companies such as AIG, big auto makers like GM, Chrysler and Ford, investment banks like Bear Stearns, and who knows what industry is next, IS TOO BIG TO FAIL. U.S. taxpayers have been literally “held up” and robbed of their life’s income to pay the price of saving all of these “too big to fail” companies who practiced unsustainable business tactics. Their unsound lending and pyramid schemes can’t come tumbling down because they will take the whole country down with them.

Now that we’ve become accustomed to the “too big to fail” excuse and we’re on the hook for billions of dollars without our consent, the new mantra is about other countries’ financial failings and their effect on the global financial community. During the G20 Summit, the world’s leaders gathered to discuss how badly they’ve destroyed their countries’ economies and how they can get taxpayers to pony up for that tab, too. We can’t escape it. The global economy is – yep, you guessed it – TOO BIG TO FAIL!!!

From now through infinity, taxpayers will be held hostage by the threat,” TOO BIG TO FAIL.” I’m sick of it already. I also see right through it. If you don’t like this new situation we have all been thrown into, then give this a lot of thought. United Nations treaties signed by American politicians binding U.S. taxpayers to more and more financial responsibilities around the globe. More debt to carry on the backs of every American, including generations not even born yet. They won’t be happy with us when they are old enough to learn what we did to them. Well, not us taxpayers – our elected representatives who didn’t really represent us.

The U.S. dollar is being devalued as fast as Pres. Obama can devalue it. Our Treasury Department is printing money backed by nothing every day. Each new dollar makes the pre-existing dollars worth less. Soon, they will be nearly worthless. The Chinese are proffering the idea of using a different currency around the world, instead of the dollar. A few other countries are agreeing with them. Oh yes, and Timothy Geithner, our Treasury Secretary, said he would be willing to consider that.

Why would our own government do this to America? It makes no sense. It’s a terrible thing to do to this country. Why would they do it to us?

It occurred to me that they are doing it on purpose and they have a reason. Perhaps globalization is the goal. Perhaps they couldn’t legislate a one world (global) currency until the dollar was worthless and Americans believed that the world (global) economy was going down in flames, taking us all down with it. Perhaps these “too big to fail” fear tactics were supposed to frighten Americans into accepting globalization of our economy, scrapping our dollar, our laws and our sovereignty. Think that’s too farfetched?

“In fact, the new international regulatory guidelines promoted by Germany and France and set out by the G-20 are broadly similar to proposals made last month by the Obama administration to dramatically tighten financial oversight within the United States. Those proposals include requiring hedge funds, private equity firms and other private investment funds to register with regulators, and giving the Treasury Department the power to seize and dismantle companies whose failure would pose a threat to the economy.” The L.A. Times,,0,2…

The main agreement that came out of the G20 Economic Summit was that the Global Economy was TOO BIG TO FAIL.



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