The stock markets are crashing, the world economy is headed into a deep recession or even depression, and the U.S. government and its top bankers, along with their counterparts around the world, are giving what’s going to amount to trillions of dollars to bailout the richest 1 percent of the people WHILE DOING NOTHING TO RESCUE ORDINARY WORKING AND POOR PEOPLE!Read the rest of this entry »
I see Johnny with his head hanging down
Wondering how many schillings left in that pound
Cost of living it is rising so high
Dollar see that have heart attack and die Read the rest of this entry »
The politicians in Washington and their slimy Wall Street friends have switched the Wall Street Welfare bill to the Senate where only a third can be voted out in November. The corrupt filth in DC thumb their nose at the people again. Okay, here’s some things we can do. IT’S IMPORTANT WE DO THIS NOW! This is not a conservative thing or a liberal thing its a WE THE PEOPLE THING!
The Congressman’s Dilemma
by Christopher Hayes The Nation
So in light of the news of House Republicans loudly and suddenly bailing out on the bailout, a few things to keep in mind to make sense of the political terrain. Read the rest of this entry »
The Danger of Wall Street Blackmailing Us Back Into a Bad Bill
By Ian Welsh Khabrein
The Western media are upping up the volume and markets are rallying (and disregarding market fundamentals) to blackmail congress into voting for the bailout. A battle has been won but the war is not over. There is a danger that we have been lulled into a false sense of security. Protests should continue
What was causing the panicked “must pass bill now” gasps from Senators and the Treasury was not the various bank failures. They have been pretty orderly and no one who failed wasn’t expected to fail. Instead the problem was that banks aren’t lending to each other. This isn’t because they fear that other banks won’t repay if they fail, in every case when a bank has failed, the Fed has made sure that banks with outstanding interbank loans got their money back. So this isn’t a question of systemic risk causing fear. Read the rest of this entry »
Bush’s Economic 9/11 and the Rise of Big Brother Banking
By Roberto Lovato, New America Media
Posted on September 29, 2008, Printed on September 29, 2008
Editor’s Note: Behind the economic bailout is a looming specter of government as Big ‘Banker’ Brother, and activists are protesting for fear of further erosion of civil liberties, reports NAM contributor Roberto Lovato.
NEW YORK – Arun Gupta stood between the throngs of tourists and the small army of activists squeezing onto the narrow concrete island occupied largely by the 7,000 pound bronze Wall Street bull and declared, “We’re here to say no to the bailout.” Read the rest of this entry »
In These New Times 