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
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August 1, 2010
Well, well, well! Here we go again — opposition to the new health care bill is still dropping. Within 4 weeks of signing the new health care reform bill polls were showing the public was warming to it. Now a new poll is showing yet another increase in those who think the new laws will benefit the average commoner. Over the past month those who hold a favorable view has increased to 50 percent from 46 percent in April, with 14 percent saying they had no opinion. If you add to that a new analysis out this week that says 29.5 million women will benefit from the new bill, the “in-favor” group will probably go up. WOW! Who would’ve thought that once the lies died down and the truth started coming out, things wouldn’t look so horrible? However, Republicans are still solidly against it. But that’s not surprising. If Democrats suddenly found a way to solve all our problems overnight with no negative side effects, the Republicans would argue “now’s just not the time to do it”.
Health care is being purchased by the health care industry. Self-Serving doctors. More on “Govrernment” Sachs. Bernie Madoff and the SEC. We will never get all our money from Fannie and Freddie. [...]
Corus Bank will be taken over by the Federal Depositors Insurance Corporation (FDIC), which means the taxpayers get nipped again. We taxpayers will get the privilege to pay off that along with any other losses the company has. [...]
In an interview with CNBC of Europe today Jim Rogers said “America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich; it’s just bailing out financial institutions”. Rogers went on to say “this is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents. I’m not quite sure why I or anybody else should be paying for this.” Continue Reading » »
Today Henry Paulson announced plans for the federal government to take over Fannie Mae and Freddie Mac. Paulson exercised this option based on a bill that was passed by Congress in early July of this year, which “leaves investors and shareholders unaffected” according to Lawrence Lindsey. However, initial reports today say only common stock will likely loose with preferred stock protected. The official “un-official” report says the take over will cost taxpayers “tens of billions” of dollars, but goes on to say “the range of potential losses is wider”. Continue Reading » »
“We are all over this today” ; CNBC’s comment several times this morning and its only 11:00 AM ET. And, this story is referenced with just about every other topic they are covering today. Without fail, when discussing this topic, bailouts are a big part of the story, as if that surprises anyone. Continue Reading » »
Richard Syron, CEO of Freddie Mac, was warned by his staff on numerious occassions that Freddie Mac was going in the wrong direction and heading for a downfall. David Andrukonis, Senior Vice-president and Chief Enterprise Risk Officer of Freddie Mac, sent Syron a memo in 2004 advising him the company was buying bad loans. Other executives also warned Syron of impending problems. But Syron ignored them all and refused to consider the facts presented to him. His excuse was “we can’t afford to say no to anyone”. Continue Reading » »
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