assets that taxpayers 0 billion is being used to purchase and the necessary restructuring of the troubled mortgages themselves. Many hard-working Americans are having trouble paying on their mortgages, which in turn is driving down the value of their neighbors homes across the country. Tens of millions of families have seen their home values plunge through no fault of their own. Nearly 1 in 10 American households—roughly 5 million—have a mortgage that is either in default or facing …
Last Christmas was a record in civilization for bonus money; as was the year before that…
Yet the following month Bear Sterns went bankrupt; and by this month, all of the rest went bankrupt thanks to Phase 3 asset (hiding) rules & the privately owned bank, the FED, encouraging gambling on Wall Street; (note that these collapses due to Phase 3 asset cooked books makes Enron look like the Boy Scouts of America)
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Yep thats about it — click on the link to the right of the video to read CAP’s analysis of the bailout plan proposed by the Bush Administration.
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The money they are throwing to the corporations, they should have thrown to the citizens that received a bad mortgage. The money would have eventually funneled to the banks and also stopped people from defaulting. Ultimately, the weakest link would be severed allowing the market to fix itself. After that stablizes we could prosecute all the CEOs that were involved in the mortgage scheme and have time to fix the real economic problem.
Anyways, its too late to do that. The economy is fucked.
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Jesus beat the crap out of the bankers with a whip, with sharp thingys, kicked over their tables, and sent them running. We should do the same.
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well we’ve got to make sure they get their 10million dollar summer mansion paid for. Lets not forget that we dont want their kids to ever have to work, since THEY will be the next congressmen and women condoning the same thing all over again in the future! republicans sure know how to take care of business…..just keep it all!!
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ill see yall in the bread line!! thanks wall street!!
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Time for Revolution
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Don’t call them republicans, they are now officially known as the Class Warfare Republicans(CWR).
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sorry, sorry, i definitely will not do it again.
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Just when I thought we could not be insulted enough, they bail out AIG Insurance. This is the same low life org that paid engineers during katrina to write water damage and not wind damage. NONE of these corporations deserve to be bailed out because they are fraudulent. One CEO made 400 million last year; that is equivalent to 34,000 Americans making an average of $35,000 yr. Make these fat cat scumbags who caused the problem to bail out the system. But no, these are Bush’s good ole boys
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When Henry Paulson took over Goldman Sachs in 1999, they had $20 billion in debts, and high-risk gambles. When he left, they had $100 billion, which means he took their risk level from $20 billion to $100 billion. So it is absolutely no exaggeration to say that Henry Paulson, far from speaking for Main Street, is actually bailing out his colleagues for some of the very debts that he himself accumulated. This is an extraordinary conflict of interest.
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I will contribute to the bailout fund if Henry (Hank) Paulson — U.S. Treasury Secretary, former Goldman Sachs CEO, and all-around bald guy ponies up the $200 million in capital gains tax he was exempt from having to pay. It seems Hank made a bundle from 2003 to 2006 and did not have to show Uncle Sam the money. I made around $17,776 during the same period and though I have already paid Uncle Sam, I would cough in a few more bucks if Hank throws up, err in, his $200 million.
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This is not a Republican or Democratic issue these are our issues. The only issue we really have is a separation issue.
We need to unite has ONE HUMAN RACE.
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yea, tax breaks are great for keeping worker pay high and companies in our country but regulation is important and the more the better.
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No one should become President without proving they have a really good understanding
of how socio-economic systems work;especially
their own! Both Republicans & Democrats
obviously DONT UNDERSTAND BASIC SOCIO-ECONOMICS (but,if they understood and still let this mess to happen; without doing ABSOLUTLY EVERYTHING IN THEIR POWER TO PREVENT or CONTROL it Then those INCOMPETENT BASTARDS HAVEN’T got A FUCKING EXCUSE!
Jail government fuck-ups + those corrupt, greedy corporate CEOs!
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One human species, not race.
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Ok sounds good
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Funny how the government become communists when it comes to protecting the rich bankers.
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Its funny how people want laissez-faire, yet when something like this happens, they want other people to pick up the tab.
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SUCK SATAN’S COCK wall street
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Don’t Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk
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UNrestrained deregulation – STOP REGURGITATING that garbage!
There is no risk as long as government regulations where any idiot loan will be backed up by the tax payers no matter how poorly supported by the ability of the person recieving the loan to repay it or the fraud committed by the lending institution who made it, That is nonsense would never happen in a free unregulated market.
Bailouts that reward the incompetent would never happen in an unregulated free market.
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mrkm..IF we actually had laissez-faire markets then banks who loaned out money too much money to too many people that could not pay back would fail.
Then housing prices would drop as Larry the liquidator forecloses on the banks and unloads their ‘toxic’ assets.
Then the poor and lower middle class could finally afford to buy homes because housing prices were no longer inflated by bad government policies that rewarded bankers and punished all home owners .
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ROFL.
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Remember people, spread this around if you must. But if that Stimulus doesn’t pass. remember, when you’re rioting and killing for a quick buck to save your families in these times, think back. “the republicans were against it, causing the Great Depression of 2009″
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