Uncle Henry Paulson sold Congress a bill of goods that he must have $700 billion to buy troubled mortgages. He trotted out The Little Moron of Pennsylvania Avenue [LMPA] to tell the country if Uncle Henry didn't get the dough our world would come to and end in less than a week. Congress ponied up. After LMPA dutifully signed the bill Uncle Henry changed his mind and decided instead to buy stock in banks. This accomplished nothing at all for anyone except the shareholders of these failing institutions many of whom are likely on a first name basis with Uncle Hank.Then along came the big insurance companies with hands upturned. Having given busted and fraud-filled AIG more than $100 billion Paulson felt obliged to help these Westchesterites as well.
Meanwhile the banks still won't make loans, thousands of families are foreclosed on, and countless small businesses from home builders to small manufacturers go under. Now come GM and Chrysler asking dear Uncle for $10 billion so they can continue to operate in the red. Ford can't be far behind. To add insult to our injury, Ole Uncle Henry gives his insolvent, mismanaged banks the OK to use your money and mine to make dividend payments to well-off shareholders.
Barack Obama is a Marxist. He intends to take money from hardworking middle Americans and redistribute it to those who, for whatever reason, have less. I am not sure I can argue this is more troubling than than taking money from hardworking middle Americans and redistributing it to the friends of Uncle Henry.