Jim Sinclair made the following statement based on the taxpayers facing a $9.7 trillion bailout liability going to the Senate for a vote:

The amount of the money can:

1. Pay off every mortgage in the USA.

2- Send a check for $1400 to every person on the planet.

It's absolutely a tarvesty that we must have to pay for all the bad bets made by commercial and investment banks. Even as I watch financial news I can't believe that everyone just doesn't get it or doesn't want to discuss it. American are being raped big time and most people don't get it, either.

Why do we have to pay for someone else's mistakes? I strongly believe we need to follow Iceland's lead and do a general house cleaning of most members in Congress and the Senate, throw them out, get rid of them. We should also out-law lobbying because our elected officials just don't know how to say NO to these weasels. I tried to send Nancy Pelosi an email and the email address doesn't work anymore. I tried to send Lynn Woolsey in Congress an email and the system was down. I tried later, it was still down.

Who's going after all the mortgage brokers that first put the CDO derivatives mess in motion? I read these guys gave a strawberry picker who earns $14,000 a year every penny of a $825,000 to buy a new house. Who's going after all the investment bankers that got their accounting firms to re-package subprime loans into AAA rated mortgage bonds that were sold to insurance and pension funds? Who's going after the greedy Wall Street firms that sold credit default swaps that weren't backed with much of anything? Why do we have to give these incompetents a free ride?

We are no longer a land of, for and by the people. We are now a land of, for and by the commercial and investment banks. Heaven help us all when we get another big draw on our future via hyperinflation when it finally rears its big ugly head.