Americans For Limited Government announces StopBailouts.net, an online petition in response to President Barack Obama’s $2.8 trillion financial plan to urge Congress to halt what ALG President Bill Wilson termed the “greatest theft in human history.”
Learn how you can support the Voice for Liberty. Click here.
“Throughout 2008, and now into 2009, Congress, the Treasury, and the Federal Reserve have otherwise committed, appropriated, borrowed, and printed some $10 trillion for the largest financial bailout ever,” said Wilson.
By Wilson’s count the bailout is “astronomical on an order not yet seen: $2 trillion in FDIC assurances, $1.75 trillion in Federal Reserve commercial paper purchases, $900 billion in term auction facility lending, $600 billion to insure money market funds, $600 billion to cover Fannie and Freddie’s worthless mortgage-backed securities, $550 billion for discount Federal Reserve loans, $500 billion to insure FDIC deposits, $300 billion for FHA mortgage relief, $250 billion for Citigroup debt, $225 billion for securities loan facility lending, $200 billion for Fannie and Freddie’s debt, $112 billion for A.I.G., $700 billion for the TARP, and finally, $787 for ‘stimulus.’”
“And that’s not even counting interest,” Wilson noted.