Posts Tagged ‘economy’
Posted by smeddum on September 30, 2008
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 »
Posted in Uncategorized | Tagged: bailout, bailout blackmail, bailout protest, economy, no bailout, No cash for trash, Paulson, politics, Wall Street Bailout Blackmail | 1 Comment »
Posted by smeddum on September 29, 2008
Roll Call Vote for H.R. 3997, the ‘Bailout’ Bill
Democrats: 140 Ayes, 95 Noes
Republicans: 65 Ayes, 133 Noes, 1 Not Voting
Total: 205 Ayes, 228 Noes, 1 Not Voting
Click here for a detailed roll call, including breakdown by representative.
Posted in Uncategorized | Tagged: 'bailout' bill vote breakdown, bailout vote breakdown, economic crash, economy, Financial crisis, H. R. 3997 vote breakdown, politics | 1 Comment »
Posted by smeddum on September 28, 2008
Canada’s Harper Joins G-7 Chorus, Pins Crisis on U.S.
By Theophilos Argitis
Sept. 28 (Bloomberg) — Canadian Prime Minister Stephen Harper said U.S. policies helped create the crisis in financial markets, adding to criticism from other Group of Seven leaders and saying there’s little his government can do to help. Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: bailout, canada, economy, G8, politics, Stephen Harper | Leave a Comment »
Posted by smeddum on September 24, 2008
Good ideas and lies New York Times
Daniel Davies, in one of the great blog posts of this era, laid down a key principle:
Good ideas do not need lots of lies told about them in order to gain public acceptance.
He was talking about the selling of the Iraq war, but it applies more generally.
So, this morning Hank Paulson told a whopper: Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout, economy, failing banks, financial fraud, Paulson, wall street | Leave a Comment »
In These New Times 