Dear Patriot, Just in case the last six years of your life havent been miserable enough, the Federal Reserves latest round of stress tests predicts a mere $501 billion in losses for the largest 30 banks in the next economic crisis. Of course, the Fed is known for its gift of understatement, given that new Fed Chairwoman Janet Yellen didnt see the housing crisis coming. As the Federal Reserve ratchets down quantitative easing, those big banks are going to lose their shirts on investments in emerging markets. The reason for this is simple: those markets were goosed up by vast injections of credit from the Fed, and little else. Their fundamentals sucked. Think of emerging markets as the subprime borrowers of the global economy, because thats what they are. They dont have the wherewithal to invest such sums of money in solid infrastructure or new technologies. All the while, your pals in Congress havent done a damn thing to prevent the next financial crisis. Oh, sure, they passed Dodd-Frank, which probably ended your free checking and resulted in a multitude of fees for you, while enabling banks to confiscate your deposits in exchange for their worthless equity in the event of another financial crisis. But they didnt bring back Glass-Steagall. They didnt tell investment banks to gamble within their means, instead of leveraging federally insured deposits 100 to 1 with worthless derivatives made up of junk rated debt. They couldnt, because that would have meant getting off of their knees, which is where they are most comfortable. Just as Congress couldnt be bothered to write the Affordable Care Act, or even read it before they passed it into law, they cant be bothered to do their job and fix the economy or at least take steps to prevent the next financial crisis. Theyd rather play games, like meeting all night to highlight their commitment to global warming legislation with carbon credits that will explode your utility bill in the same way healthcare reform exploded your insurance premiums and deductibles. Perhaps you deserve to have Congress set your priorities, and you just need to forego your cell phone and your cable to pay for the items they think you should buy on their terms. If you disagree, we made a simple point yesterday: a mere 1% of the people reading this email could generate $72,000 simply by matching our average donation total of $36.00. Western Representation PAC was founded by a father and a son who were pissed off about the last financial crisis. Aside from stopping gun control, reforming the financial sector to burn big banks to the ground has been our priority from day one. Theres no such thing as Too Big To Fail, and if the United States offers the big banks yet another bailout, it will fail as the richest nation on the planet. Theres a simple solution: flipping the U.S. Senate, and putting Barack Obama on notice that his days are numbered. Right now, he can flip Congress the bird, and he has. Hes made a mockery of constitutional limits on his power, and shown a total disregard for the will of the American people. Its time to put him on notice: no more bailouts for his cronies, no more government by executive order, no more obstructing justice by denying Congress access to the records and witnesses necessary to get the bottom of the IRS scandal, Benghazi, the NSA scandal, and Fast and Furious. We cant afford to let Barack Obama continue unchecked for another two years. What were asking you to do is simple: match our average donation, or give more if you can. If you cant afford the average donation, give whatever you can afford. This PAC wasnt founded by one of those big banks you paid to bail out. It was founded by regular people like you in outrage over the bailouts and the corruption in Washington, D.C. They screwed us once. Its time to screw them back in 2014. Sincerely, Jay Batman Director, Research and Messaging Western Representation PAC
Posted on: Fri, 21 Mar 2014 22:52:23 +0000
Trending Topics
Recently Viewed Topics
© 2015