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Watchovia Company

By David Truskoff

25 July, 2008

One Wachovia Center NC 0206 Charlotte, North Carolina 28288.

It is the fourth largest bank holding company in the United States based on assets. Third largest U.S. full-service brokerage firm based on financial advisors.

The great American humorist Will Rodgers once described a holding company as; "A holding company is the thing where you hand an accomplice the goods while the police search you."
That was long ago, but the Will Rodgers statement still holds true.

In a fireside talk to the people in 1935 FDR said," The absentee management of unnecessary holding company control has lost touch with and has lost the sympathy of the communities it pretends to serve. Even more significantly, it has given the country as a whole an uneasy apprehension of over-concentrated economic power. " Roosevelt could issue the same warning today especially after the Bush administration rescinded the 1935 holding company act.
America and the entire world are suffering from a lack of wise and courageous leadership. The America voter is asked to go the polls and chose a person the party hacks have already chosen for us.

An Associated press story filed7/23/08 states that Wachovia will eliminate 10,7590 jobs. That’s ten thousand mortgages that might not get paid. Ten thousand insurance premiums and college tuition fees that may go unpaid.

On the same day AP reports that it may cost the American taxpayer $25 Billion to bail out the Fannie Mae and the Freddie Mac. Mortgage lenders.

The government takes workers hard earned tax dollars and give it to the swindlers while the middle class continues to face layoffs. Thousand more at American Airlines, Pratt Whitney aircraft, and Fannie Mae and Freddie Mac and many more joins the ten thousand laid off workers at Watchovia.

During heated arguments in Moscow shortly after the Yelstin coup Communists shouted at me that Marxism has never been tried and will not be unless the people revolt again. The statement that it has not been tried has some merit, but then again one could say the same thing about the so-called free market. There has never been a free market and if we ask the tax payers to bail out Chrysler Corporation after they ran the company into a financial swamp and continue to bail out banker sharks and mortgage swindlers we are illustrating to the world that there is no fair and equitable free market and the taxpayer bailouts also proves the capitalist system, as it is practiced in America, does not work.

Thomas Jefferson once said, "no government can continue to do good but under the control of the people." Poor Tom. Imagine his horror if he were alive today and able to see the disintegration of his beloved democracy. The people have lost the ability to control. The truth is they gave it away.

America and the entire world is suffering from a lack of wise and courageous leadership. The American voter is asked to go the polls and chose a person the party hacks has already chosen for us.

The media is cramming Obama down our throats and some of my liberal friends are pressuring me to vote for him. They are fawning over him in Germany mainly because the German media is portraying him as another Kennedy. Remember when Senator Bentsen Said to Dan Quayle," Senator, I served with Jack Kennedy: I knew Jack Kennedy; Jack Kennedy was a friend of mine. Senator, you're no Jack Kennedy" ?

Obama is no Jack Kennedy. His banner slogan "Change" is beginning to look and smell like an old over-used dish rag and has become just as useless. I tell my friends that I will not vote for the lesser of two evils again. If Obama gives specifics on how he will re-store the FDR constraints on the robber barons: if he will say he will withhold funds for Israel until the apartheid wall is taken down, if he says he will stand up to the powerful lobbies that have taken over our congress and government like AIPAC, Then I might consider the idea that he may bring about change, but I know it will not happen.

So who do you vote for? The frustration of all Americans is embodied in that question. I do believe if an honest poll was taken most Americans would say, none of the above. I guess I will keep my pride and vote for Nader again. I know what he has done for my country.

Author "What the hell Is A Liberal


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