Ron Paul - Why the Bailout Should Make You Afraid, Very Afraid

Liberty Maven

"First the wording of the proposed limit of $700 billion shows that it is not a limit at all. The text reads the bailout “shall be limited to $700,000,000,000 outstanding at any one time.” This means that the bailout is truly unlimited. As Chris Martenson describes in his great article regarding the proposal:

Whoa! Stop! What is this “at any one time” language?? This means that $700 billion is NOT the cost of this dangerous legislation, it is only the amount that can be outstanding at any one time. After, say, $100 billion of bad mortgages are disposed of, another $100 billion can be bought. In short, these four little words assure that there is NO LIMIT to the potential size of this bailout. This means that $700 billion is a rolling amount, not a ceiling.

So what happens when you have vague language and an unlimited budget? Fraud and self-dealing. Mark my words, this is the largest looting operation ever in the history of the US, and it’s all spelled out right in this delightfully brief document that is about to be rammed through a scared Congress and made into law."