Title : Step Right Up Folks ! Come One Come All ! It's The FEDERAL RESERVE CARNIVAL BAILOUT Shell Game !

Subject : Federal Bailouts Of Failing Financial Institutions

By : David Lee Frater, Freelance Reporter, Writer, Photo-Journalist

Distribution : Free Press Release, no compensation is required, however it is very much appreciated. If your establishment feels that a modest and customary contributor fee is appropriate then please make a check payable to: David Lee Frater 1312 West Maryland Street, 102, Los Angeles CA, 90017



Step Right Up Folks ! Come One Come All ! It's The FEDERAL RESERVE CARNIVAL BAILOUT Shell Game !



Over the din of calliope music, the smell of hot dogs, cotton candy, and buttered popcorn, set against the backdrop of brightly colored booths filled with con-artists, charlatans, and fakes of every type and description, a new carny booth has just opened, The Federal Reserve Bailout Shell Game Booth ! And EVERYONE is a WINNER !

Yes folks, It's TRUE, all YOU have to do is file for bankruptcy, then fire up a media frenzy that your failing company will bankrupt the entire world economy, and guess what? Uncle Sam will come to YOUR HOME TOWN, wearing his red, white and blue stripped suit, Shell Game in Hand, and play this amazing feat of mysticism and magic right on your OWN board Table ! Winner Takes ALL !

Lets do some simple math shall we? The Feds bailed out Fannie Mae and Freddie Mac to the tune of 100 Billion each, to be invested over a period of time, thats a cool 200 Billion right there. Now, unknown to most people, the Feds are also pumping in another 70 Billion to bail out a NETWORK of failing Wall Street Investor Firms. Now, Today, we are told, We the People, "WE", are going to "OWN" 79.9% of AIG as Well, and for only a meager investment of just 85 Billion more ! What a STEAl, obviously too smart an investment to pass up! "We", "The American Public", are now "Owners" of a failed and bankrupt Insurance Giant ! Does this mean "we" are going to start receiving quarterly reports from "Our" Company? Can "we" expect dividend checks? Can "we" now buy those retirement condos in Cancun and retire early? Or.... are WE going to get stiffed, again, with higher taxes and fewer allowable deductions from our middle class, working class incomes, to pay for all of

this?

The Republicans are squealing like a bunch of stuck pigs over the proposed tax increases to the upper income levels, saying things like, "It will damage the economy even further if the rich have to pay more taxes!", but, covertly, they have NO PROBLEMS AT ALL, with playing their own version of the shell game, the middle class "tax em and take em" game they always play with the middle class. They offer modest "Tax Return Credits" on such things as dependents, et all, all the while upping taxes all across the board in every other sector, with a net gain in middle income taxation, and a net reduction in upper income taxation. They want us to bail out all of their favorite failed investors and investments, protecting their money, and, stiff the middle class with the bill. ALL OVER AGAIN. Homey don't think so, these folks have got to belly up to the bar and up the ante with their own money too!

Total reported Fed Bailout expenditures to date, 355 Billion, and that is only what we know about, there may be more bailouts being handed out that don't make the news wires, and perhaps, more on the horizon if faltering institutions such as Washington Mutual, "WaMu" fail as well.

Where is all this money going to come from? Is their plan just to fire up the printing presses and print more? Is it really that simple? Jeesh, I would like to be able to exercise that option myself ! Just fire up my computer, and print more money, wouldn't that solve all our problems !

A Very dear, and very new friend of mine, Maria Fadli, is a very astute and clever writer who is always able to look at a situation, and see the humorous side of it, and then write it in such a way, that not only is it hilariously funny, but deeply profound as well. She wrote a little humorous piece titled "Economic Models Of The World", I would like to quote her on a couple of short paragraphs.

"SOCIALISM:

You have two cows, you give one to your neighbor.

COMMUNISM:

You have two cows, the State takes both and gives you some of the milk."

FASCISM:

You have two cows, the State takes both and sells you some of the milk."

NAZISM:

You have two cows, the State takes both, and then shoots you and your family.

BUREAUCRATIC CAPITALISM:

You have two cows, the State takes both, shoots one, milks the other, and then throws the milk away.

TRADITIONAL AMERICAN CAPITALISM:

You have two cows, you sell one and buy a bull. Your herd multitplies, and the economy grows. You sell your herd and retire on the money.

MODERN AMERICAN CAPITALISM:

You have TWO cows. You sell THREE of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank. You then execute a debt/equity swap with an associated general offer so that you get all FOUR of your cows back, with a farm tax exemption for the FIVE cows. The milk rights of the SIX cows are transferred via an intermediary to a Cayman Island Company secretly owned the majority shareholder, (you) who sells the rights to all SEVEN cows back to your listed company. The annual report says the company now has EIGHT cows, with an option on one more. You sell one cow to buy a new Republican President of the United States, leaving you with NINE cows. No balance sheet is provided with the release. You then declare bankruptcy, your pal, the President has the FEDS bail you out, and the public gets to buy all your BULL."

Does this pretty well lay out the picture clearly?

Last night, I went to bed, with my total investment portfolio of whatever I have in my checking and savings accounts. This morning, I wake up, to find out, that my gracious government has provided me with a very fine investment portfolio, I am now part owner, part shareholder of, Freddie Mac, Fannie Mae, AIG, and a whole consortium of lots of little wall street investor firms! Wow, Shell games are TERRIFIC aren't they? The only problem is, when it comes time to call it, and turn over the shells, the pea is never there, is it?

Sincerely,

David Lee Frater, Reporter at Large, Village Of The Angels, Los Angeles, California

davidleefrater@yahoo.com

http://www.myspace.com/davidleefrater