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seems the cat applied for a goverment bailout!
09/29/2008 ron paul described the mood in house after the bailout plan was defeated.
christmas might not happen this year if we don't bailout old saint nick.
apparently there was a significant anti-bailout protest that hasn't been reported in the mass media. i don't know if this is true, this is what i know. i don't watch the major networks, and yahoo news hasn't reported it on its front pages. if this is true, then it's a pretty interesting study in censorship in america.
new york (cnnmoney.com) -- stocks skidded monday afternoon, with the dow's nearly 778-point drop being the worst single-day point loss ever, after the house rejected the government's $700 billion bank bailout plan. stocks tumbled ahead of the vote and the selling accelerated on fears that congress would not be able come up with a fix for nearly frozen credit markets. the frozen markets mean banks are hoarding cash, making it difficult for businesses and individuals to get much-needed loans. according to preliminary tallies, the dow jones industrial average (indu) lost 777.68, surpassing the 684.81 loss on sept. 17, 2001 - the first trading day after the september 11 attacks. however the 7% decline does not rank among the top 10 percentage declines. the standard & poor's 500 (spx) index was down 8.7% and the nasdaq composite (comp) 9.1%. "the stock market was definitely taken by surprise," said drew kanaly, chairman and ceo of kanaly trust company, referring to the house vote. "if you watched the news stream over the weekend, it seemed like it was a done deal. but the money is being held hostage to the political process." stocks had fallen from the get-go monday morning. in addition to expectations for the bailout, there was also news that troubled wachovia had to sell its banking assets to citigroup. a number of european banks also collapsed. but the possibility that the house won't pass the bailout plan caused stock losses to accelerate. "it's a huge disappointment," said jack ablin, chief investment officer at harris private bank. ablin said the fact that stocks were down more than 200 points this morning ahead of the vote indicated that there was already skepticism that the plan would pass. although another version of the plan will likely go before congress, investors are concerned that passing the bill could be a more drawn-out process. and they are worried about how effective the proposed plan would be anyway, said alan gayle, senior investment strategist at ridgeworth investments. "we are charting new territory in policy tools and implementation with this program and there's no guarantee that it will work," gayle said. "that a number of institutions haven't been able to last through the negotiations adds to the uncertainty," gayle said, referring to washington mutual's failure on friday and the buyout of wachovia monday. stocks are also extremely choppy and volatile as wall street moves to the end of the third quarter. financial institutions and funds are expected to have their books settled before wednesday, so there is a lot of last-minute scrambling, gayle said. treasury prices rallied, sending yields lower, as investors sought safety in government debt. source
economist dean baker shares his thoughts on the bailout panic during a public panel held at the institute for policy studies on sept 30, 2008. dr. baker is the co-director of the center for economic and policy research in washington, dc and a columnist for the washington post and atlantic monthly. he is the author of several books including, the united states since 1980; social security: the phony crisis (with mark weisbrot); and the benefits of full employment (with jared bernstein). he appears frequently on tv and radio programs, including cnn, cbs news, pbs newshour, and national public radio.
after a week of wrangling, lawmakers give final approval to historic $700 billion bailout. new york (cnnmoney.com) -- the house on friday passed a far-reaching and historic plan to bail out the nation's financial system. the vote for passage of the senate-amended bill - 263 to 171 - was the result of strong lobbying on the part of the white house and other supporters of the bill all week, following the house defeat of a similar measure on monday - a defeat that shocked the markets and congressional leaders on both sides of the aisle. "i applaud the action taken by the congress," said federal reserve chairman ben bernanke. "the legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted flow of credit to households and businesses." according to preliminary numbers, 172 democrats voted in favor of the bill while 62 opposed it; and 91 republicans voted for it and 108 voted against it. source, the $110 billion in tax breaks nnys note - wanna see some random crap that's in the bill that has nothing to do with the economy at all? sec. 325 - extension and modification of duty suspension on wool products; wool research fund; wool duty refunds sec. 402 - permanent authority for disclosure of information relating to terrorist activities sec. 503 - exemption from excise tax for certain wooden arrows designed for use by children sec. 601 - secure rural schools and community self-determination program pdf of the bill ps. jayne <3 lawl nice pic.
bush is giving money away!!!!!
explains the us economy in 30 seconds
who's going to help them?
heath ledger (the joker) owns george bush from the grave
just give the the money
with stipulations...do you think this will work?
its time for you to pay back uncle sam for all that free porn you downloaded off spankwire!
as another $350 billion goes out the door, anp looks at one small bailed-out bank. eagle bank, a community bank headquartered in maryland, received many millions of dollars of tarp money, but is having trouble making loans. its ceo, ron paul, says that the government has not taken fleeing depositors into account and, as a result, small banks and their surrounding communities will suffer.
fits like a rubber glove
thanks to john stossel and 20/20 for doing the piece, and to dolphinfilms for uploading and editing the video. i'm re-uploading this because the gatekeepers at newscorp removed it from dolphinfilms' channel.... john stossel discusses how government spends/waste taxpayer money and the consequence of intervention in the economy 3/13/09.
really puts things in perspective.
voters are rightly furious at the proposal to spend $700,000,000,000 that the government doesn't have to bail out wall street bankers who created the current economic crisis in the first place. but why then aren't we concerned about the trillions of dollars the federal reserve is pumping into the system? or the trillions missing from the pentagon? or the quadrillion dollar derivatives bubble.
are we headed for an economic depression? probably. here are the facts on the market`s reaction to the bill`s progress; the mainstream media is (again) lying to you. facts, figures and charts galore. oh, and what you must do next. this video needs to be seen by everyone in america. yes, i know, its 10 minutes. but its 10 minutes that anyone with a 401k, pension or ira should be willing to spend. send it around, then keep checking at http://fedupusa.org and http://supportedthebailout.org for updates.
brilliant video
finally a real solution, sen. bernie sanders explains his long list of reasons for rejecting the rescue bill which was later passed by the senate by a margin of 74-25. sanders pointed to the absence of a plan to help those who face imminent foreclosure on their homes. he chided congress for not effectively limiting wall st. executives from continuing to award themselves excessive compensation and "make out like bandits." this crisis was not caused by the sub-prime mortgage loans, it has been in the works for some 3 decades. the sub-prime mortgage loans just started to close the coffin. lengthy but worth the watch!
rebel diaz responds to the $1 trillion federal bailout of wall street...
