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The toxic mortgage-debt paper is only a cover. The real story under the covers of the history book written since the Great Depression is about the investment bankers and their allies who have returned with a vengeance to totally bankrupt America and its financial system with their greed, which created the present subprime debt and recently raised the national debt ceiling to $11 trillion and change.
The fact as David Sirota noted in Saying ‘No Deal’ To this New Deal is “We now face market forces uninhibited by democratic governance -- Chinese dictators and Saudi princes [who] can move trillions of dollars without so much as a press release. This bailout, marketed as a speed enhancer, is an aggressive attempt to discard democracy’s checks and balances and pantomime that kind of autocracy.”
This bailout, marketed as a speed enhancer, is an aggressive attempt to discard democracy’s checks and balances and pantomime that kind of autocracy.”
Originally posted by b4christ15
The whole things reminds me of the Patriot Act.
[edit on 7-10-2008 by b4christ15]
Sounds much more like the first attempt was never meant to pass, ...
Originally posted by janon
I hear people saying that the US military would never fire on US citizens...
On Sunday, May 4, 1970, Ohio National Guardsmen opened fire on antiwar protesters at Kent State University, killing four students and wounding nine others.
Originally posted by b4christ15
I'm pretty sure that this bailout bill was sitting in a desk just collecting dust, waiting for the right moment to shove it down our throats.
Asked during a telephone briefing for reporters today whether Bush was speaking with lawmakers, White House Deputy Press Secretary Tony Fratto said the president is aware of their concerns but that Paulson is the salesman.
******SKIP******
Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough.