Obama: Clarity, Accountability vs. McCain Folly of Wait & Hope
A little Obama clarity is in order. In yesterday's statement released shortly after the vote:This is a moment of national crisis, and today's inaction in Congress as well as the angry and...
View ArticleSOLUTION TO CRISIS: HELP BORROWERS, NOT LENDERS
The primary cause of the financial collapse of some of our largest banks and insurance companies is the default on millions of home mortgage loans; the so called, sub prime loans, as they were based on...
View ArticleThere is a Tide in the Affairs of Men
Brutus:There is a tide in the affairs of men. Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life Is bound in shallows and in miseries. On such a full sea are we now...
View ArticleHOPE: Dems growing a spine on the BushCo Financial Bailout??
I have been reading some of the diaries here warning that the BushCo-proposed financial bailout of Wall Street sticks the regular-Joe American taxpayers with all of the costs but none of the benefits...
View ArticleAlready Getting a Bad Feeling....
Well, the ink isn't even dry on the latest trillion or so wasted taxpayer dollars, and I am already getting a bad feeling about it all. The horrible, irresponsible policies of President Bush and the...
View ArticleThoughts from a banker
Received these thoughts from a friend who is an executive at a major bank and thought they were worth passing along: I've been posting comments and e-mailing my pols to not approve the bailout. There...
View ArticleProtest on Wall Street, 9/25
Some folks are trying to organize a protest against the current proposed financial bailout in the Wall Street district of Manhattan for Thursday starting at 4:00pm EST and lasting for an indefinite...
View Article[Bailout action diary] Our message to Congress: Why the rush?
This is a lean & mean Bailout call-to-action diary.I know, I know, look at what happened with our contact efforts around FISA immunity.Bailout is NOT like FISA however!This time, the Blue Dog Dems...
View ArticleWhy Should We Pay for All the Bad Loans of All the Banks in the World?
There are three unconscionable parts of this federal bailout plan. It now includes not just US banks, but nearly all of the major international banks. Why should the United States taxpayer...
View ArticleMake Marcy Kaptur's winning bailout strategy viral!
A diaryjust fell off the list that should never have gone away on a day like today with all the financial news and analysis and political triangulation in full swing. It is an absolutely brilliant...
View ArticleAlternate Bailout Proposal: Let us liquidate our 401Ks without penalty
This will be a short and simple diary. Because the idea involved is so obvious, it won't take more than a few sentences to explain.
View ArticleLet Them Eat Cake!!
Maybe it's time for Congress to stop talking about leaving on break and get serious about this country. No elected official in Congress should be leaving Washington until we have a comprehensive and...
View ArticleA Red Flag Flies High Over Financial Bailout
BENEATH THE SPIN • ERIC L. WATTREEA Red Flag Flies High Over Financial BailoutI’ve spent a lot of time trying to figure out this financial bailout, but the banking community’s schemes to rid us of our...
View ArticleMake Them Protect Ordinary Americans: Call Congress
Very Smart Friend, who knows everything about how housing finance for the non-rich, told me this is vital and that it should be posted at Dkos, so here goes. It's a good idea to do what Very Smart...
View ArticleKrugman semi-endorses Dodd-Frank plan
In a column appearing in today's New York Times, Krugman writes that "the bipartisan "agreement on principles" released on Thursday looks a lot better than the original Paulson plan." He goes on to say...
View ArticleBarack Obama: "We cannot risk an economic catastrophe." (Updated)
"We cannot risk an economic catastrophe."Senator Barack Obama on Washington MutualThere's a lot of talk about the financial crisis and possible depression we face, and some of it strikes me as very...
View ArticleAre We Playing Monopoly?
I used to play Monopoly with someone who liked to play a side game. He would hide money under his part of the board to appear poor, then pull it out to purchase houses and hotels. He always wanted to...
View ArticleFinancial bailout: write your Congress Critters!
On Monday (Sept. 29th), Congress is supposed to take up the bailout plan that was hammered out over the weekend. There is a lot of pressure for them to vote on the plan the very same day! If this...
View ArticleTax Payer Investments: 1st AIG, Now, the Banks & Then?
Health Insurance Companies usually get my attention, but Hurricane Ike and the AIG debacle a couple weeks ago broadened my horizons. The Tax Payer Bailout of the Wall Street needs more scrutiny. I'm a...
View ArticleVideo: Palin Supporters On Economic Mess Blame
You might scratch your head after hearing these interviews with Sarah Palin/John McCain supporters outside of a recent rally in Wisconsin. They were asked to explain who is to blame for the economy...
View ArticleMy Office Story: Money & Debt
Cross-posted from Burnt Orange Report.I'm Michael Scott, the regional manager of a small business paper company in rural Scranton, Pennsylvania. I'm not the smartest person in the world, and though I...
View ArticleRewrite Bail Out after Obama is President
Only a Stop Gap Bill Now..... ..........and Real Recovery Plan, under a new Democrat Administration led by President Obama.Stop Gap Bill...with a limited Funding Limit...say, $250B (as per the latest...
View ArticlePutting Money in the Wrong End
Money put in at the top goes nowhere. Money put in by creating jobs say building roads and bridges for instance, perks up through the economy creating economic activity that is a multiple of the...
View ArticleFed "thinking about" loaning directly to companies
The Fed is thinking about lending directly to companies by buying short term commercial paper. I can hear the rending of clothing and knashing of teeth among the bankers now.The whineing will go...
View ArticleA Footnote to Posterity
BENEATH THE SPIN • ERIC L. WATTREEA Footnote to PosterityAs I watched the second presidential debate between Barack Obama and John McCain, my mind drifted off to when I once watched the landing of the...
View ArticleOn Economic Recovery, Or, They Got The Bailout, So Why Aren't Things Better?
Every morning lately, we have turned anxiously to the news to see if financial markets are in freefall...and some days, they actually are.Governments across the world have responded over the past two...
View ArticleWhat If... They Refill the Banks With 'Money'
But few Americans have a good job and still can't buy much of anything?What if nobody can qualify for loans on those millions of homes already in or due for foreclosure?What if Ellen Tauscher's...
View ArticleMortgage Problems? Quit Paying and Win.
An article by Peter Schiff, who is president of Euro Pacific Capital and author of "The Little Book of Bull Moves in Bear Markets" made a rather unusual proposal for those people on the edge of...
View ArticleClik here to view.
Socialism, Communism, Oligarchy, Kleptocracy
As the Red Scare, Joe McCarthy worshipping Republicans use words like "socialist" and "communist" as epithets rather than a description of reality, it's probably a good time to examine words and how...
View ArticleGoddamn This Pisses Me Off: Let Them Eat Cake!
Ok, so what I am about to do here borders on breaking certain rules and standards. My diary as it is is lacking the links in the original article but you can read the original here with all the links...
View ArticleThe Bond Market Implodes - Financials Tank
The whole idea of the bail-out or TARP program was supposed to be to purchase distressed assets from banks. When this program was announced and finalized there was a big rally in fixed income assets...
View ArticleThe Bond Market Implodes W/Update:- Return To Crisis Mode - Financials Tank
As I wrote at the market close yesterday here in the US there had been some significant action in the world financial markets. Here is what was said then: The whole idea of the bail-out or TARP...
View ArticleSchool district submits request for TARP bailout money
Now THIS is the kind of bailout I can get fully behind. A financially distressed Ohio public school superintendent has filed a formal request for $100 million of the federal government's bailout money...
View ArticleWOW! Newt Gingrich On Fannie/Freddie Gravy-Train
Just when you think you've seen the rankest hypocrisy you'll ever see...up springs Newt Gingrich, with one more shot at being the most hypocritical, egregious and self serving politicians in the...
View ArticleObama prepares sweeping cuts in social programs
Original article, by Patrick Martin, via World Socialist Web Site:Barack Obama took the occasion of his first press appearance in Washington as president-elect to declare his determination to impose...
View ArticleBanks in meltdown. Take them over.
Original article, by Mick Brooks, via Socialist Appeal (UK):Stock exchanges in Britain and the USA have been on the slide over the past few days. The reason is not hard to seek. The FTSE has been...
View ArticleNeed a Job? TARP Investigators Sought by Senate
Now that it's considered cool to work for the federal government again, I was engaging in one of my routine job searches on USAJobs.gov. If you're not familiar with the website, you have to select a...
View ArticleA Shift Toward Worker Power?
Original article, by Allan Nairn and subtitled The Time is Ripe to Tip the System, Now, via Dissidentvoice:In bad situations, people lower their standards for what it is that constitutes good news.
View ArticleObama's Awful Financial Recovery Plan
<div>Original article, by Michael Hudson and headed "Trying to Revive the Bubble Economy:", via counterpunch.com: Martin Wolf started off his Financial Times column for February 11 with the bold...
View ArticleUnwinding the Big Bank Failures
I gave a solution to the Banks a while ago but for some of those financial institutions it is to late.For those who are interested in my previous solution http://vtsl.blogspot.com/...So for those banks...
View ArticleI love Frank Rich, but I think he's somewhat wrong today
Handing more public money to the reckless banks that invented this culture and stuck us with the wreckage is the new third rail of American politics. If Obama doesn’t forge a better plan, neither his...
View ArticleKP Duty for Financial Execs?
Financial firms receiving government assistance say they have to pay high salaries or their employees will leave and go elsewhere. Well, not if the federal government doesn't let them leave.
View ArticleNo Mas Mr. President, NO MAS!
This is just a short opinion piece based on the big headlines of today that AIG will have to pay it's brokers who engineered the company's financial meltdown$400 million in bonuses. Their excuse this...
View ArticleWhy Obama fears AIG “backlash”
Original article, a Perspective by Bill Van Auken, via World Socialist Web Site:AIG's plan to award hundreds of millions of dollars in bonuses to the financial wizards responsible for bankrupting the...
View ArticleWall Street pay back to pre-crash levels
Original article, by Barry Grey, via World Socialist Web Site:The New York Times reported Sunday that compensation at six of the largest US banks is on track to return to the record levels that...
View ArticleWall Street on the offensive
Original article, by Barry Grey, via World Socialist Web Site:Bolstered by the policies of the Obama administration, Wall Street is waging a political offensive to shed the minimal limits on executive...
View ArticleMUST READ: the fantastic "Meet the Hazzards" article
I want to bring an article to your attention. This was mentioned in a linky Open Thread from Laura Clawson on Sunday a few days ago, but I don't think that it got the attention it deserves. If it...
View ArticleThe Empty Decade: Smoke and Mirrors
Originally published on December 23, 2009 at Yo Mama For ObamaAs the first decade of the twenty-first century draws to a close, there is not only despair for the people and events that have crossed our...
View ArticlePlutocrats...and Democrats
Interesting results in a recent National Journal poll getting attention elsewhere for different reasons.In question 22, 1,200 American adults were asked the following: Thinking back over all the...
View ArticleA Failure of Imagination
we live in an age of expediency and short-term gain. it is as if lord keynes' axiomatic "in the long run" has reached its ultimate pervsion in today's society....
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