Re: OPEN LETTER TO ALAN SIMPSON & ERSKINE BOWLES

link
http://www.dylanratigan.com/open-letter-to-alan-simpson-erskine-bowles-from-the-daily-bail/


On Nov 14, 2010, at 12:49 PM, Lance McLain wrote:

> Man, I liked this guy when he was on CNBC, like him even more now!
>
> regards,
> -Lance
>
> ------------------
> OPEN LETTER TO ALAN SIMPSON & ERSKINE BOWLES FROM THE DAILY BAIL
> posted by: Dylan Ratigan on November 11, 2010 in Business, Featured
>
> Dear Esteemed Chairmen:
> No huge surprise here (http://www.foxnews.com/politics/2010/11/10/deficit-commission-recommends-changes-social-security/ 
> ).  What’s unfortunate for you is that for years, even decades –  
> going back to Ross Perot – the American people have been prepared  
> for and willing to accept changes (cuts) to Social Security.  You,  
> the politicians never gained the courage to ask, but I think for the  
> most part the general public has been ready.  And since I’ve been  
> screaming about these issues my entire adult life, and have always  
> pushed the concept of shared sacrifice as a means to budget sanity  
> and limited government, I’m not comfortable with what I’m about to  
> write, but it’s inescapable after watching and recording a 32-month  
> orgy of fiscal mayhem dominated by trillion-dollar bailouts,  
> trillions in wasted stimulus, and trillions gifted to the military- 
> industrial killing machine.
>
> Fast forward from the Perot deficit awakening 20 years ago, and  
> finally, you, the generationally-irresponsible political class seem  
> to be facing up to the unfunded entitlement budget nightmare of your  
> own creation – or at least you’re in the discussion phase of ‘facing  
> it’ – and what is the societal backdrop?  Seething anger over the  
> recession, the wars, multiple failed stimulus, dollar destruction,  
> QE, and the government bailouts of favored industries.
>
> So against this backdrop, your Commission now recommends cuts to  
> Social Security and a hike in the retirement age to help us on our  
> merry way to a fiscally sane future.
>
> Here’s my recommendation for you.
>
> The American people are willing to sacrifice as part of a shared  
> effort at righting our budgetary path, but they are not prepared to  
> be sacrificial lambs led to the ‘benefits and promises  
> slaughterhouse’ while the Wall Street Banker Pigs gorge on trillions  
> in stealth FED and FDIC bailouts, ZIRP giveaways and a record $144  
> billion in bonuses – an amount equivalent to the 49th largest GDP in  
> the world -  $144 billion in bonuses being paid by criminally  
> insolvent banks that are only still operating due to a Wall Street  
> financed K-Street lobbying tsunami that forced FASB to change the  
> accounting rules that now allow these same insolvent institutions of  
> usury and arrogance to apply Faustian valuations to complete shit  
> assets all over their lying, godforsaken, Enron resembling, off- 
> balanced, imbalanced, bs-balanced, sheets.
>
> Banks exist in the lala land of leveraged deferred tax assets  
> representing most of tier-1 capital at Citigroup, of hundreds of  
> billions of helocs at Wells Fargo worth pennies, but marked at  
> dollars, of hundreds of billions of fraudulent MBS pumped out by  
> Countrywide, whose liability now sits with Bank of America.  This is  
> a mere glimpse of the great banking lie that provides cover for the  
> $144 billion insolvent bonus river that bathes the Street, all  
> supported and paid for by taxpayers, Treasury and the Federal  
> Reserve.  Therefore, ultimately, taxpayers.
>
> In this environment, selling ‘cuts to social security’ is not going  
> to work, and considering the role you both played in creating the  
> irresponsible federal spending machine that now controls Washington  
> and has bankrupted future unborn generations, fuck you for even  
> bringing it up.
>
> Signed,
>
> The Daily Bail
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