Democrats want to take all our money and return to us one dime out of each dollar.
Republicans want to take all our money and give it to corporations and the wealthy.
Neither is acceptable!
Campaign 2010
Countdown to Congressional Elections
The most effective way to restrict democracy is to transfer decision-making from the public arena to unaccountable institutions: kings and princes, priestly castes, military juntas, party dictatorships, or modern corporations.
Noam Chomsky, M.I.T. emeritus Professor of Linguistics
He said “I think that’s all appropriate and our company is well positioned for it”. So if his company is “well positioned” for it, why do they have to wait for reform before they implement the very things President Obama is asking for? [...]
During their Power Lunch segment today, CNBC had a discussion with three guests on the backlash from the Bear Sterns Bailout. The guest included Republican Strategist Jack Berkman, Andrew Jakobovics from the Center for American Progress, and CNBC’s own John Harwood. Each of them was ask to express their sentiments on the government bailout. Continue Reading » »
Before the stock market opened today on Wall Street, the futures were down by several hundred points on the Bear Stern news. When the market opened at 9:30 ET there was the typical sell off of stock that you would expect to see due to a couple of Blue Chip companies announcing that their earnings weren’t quite what was expected. But nothing as one would expect with the fifth largest investment bank of our country going bankrupt. In fact, as the day went on, those stock market losses began to go away and the day actually close on the up side. Continue Reading » »
If you watched any of the television news media today besides Fox News for more than five minutes you are well aware that Bear Sterns declared bankruptcy over the weekend. Last Monday their stock was at $70 per share; by Wednesday the stock was at $53 per share; today it is running between 3 and 4 dollars a share. Continue Reading » »
Last Friday, March 14, the Federal Reserve made available to banks $200 billion in unsecured loans. The timing on this loan was primarily to bail out Bear Sterns. JPMorgan was the intermediary to this bail out. But over the weekend, Bear Sterns declared bankruptcy, and guess who’s buying them out; JPMorgan. And JPMorgan is buying them for $2 dollars per share, for a total of $236 million. Now the Federal government is making available another $30 billion to pay for Bear Sterns liquid assets. Continue Reading » »
This is an update to a post I placed on March 14, 2008. The “Facts” and “My View” comments are the same from that post. What I have added is some comments from a family member and a famous quote from a well know person.
The Facts
Bear Stearns, one of the biggest brokerage houses in the world, is about to go bankrupt, so the Federal Government is bailing them out by providing money through JPMorgan Chase. Bear Stearns stock has taken a 53% plunge. Continue Reading » »
Bear Stearns, one of the biggest brokerage houses in the world, is about to go bankrupt, so the Federal Government is bailing them out by providing money through JPMorgan Chase. Bear Stearns stock has taken a 53% plunge. Continue Reading » »
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Random Thoughts on Other Notable Headlines of the Day — Issue XXIX
He said “I think that’s all appropriate and our company is well positioned for it”. So if his company is “well positioned” for it, why do they have to wait for reform before they implement the very things President Obama is asking for? [...]