Lost in the hysteria over the financial turmoil and the proposed $700 billion bailout (which went down in flames today) is the fact that the House of Representatives just passed a $612 billion “defense authorization” bill for 2009. I haven’t heard a peep of protest about *that*. Oh, I forgot … that’s because we are [...]
Posts Tagged ‘Economics’
A Different Kind of Rescue
Along with millions of other Americans, I am outraged at the Bush administration bailout of Corporate America. They lied to get us into the war in Iraq and now they are lying so that they can help their friends, who have already picked our pockets empty. There have been some comparisons between this bailout and [...]
Fungible Palin?
Let’s see ….. the reaction to Ms. Palin’s comments about the fungibility of oil has me curious. First, the quote: “Of course, it’s a fungible commodity and they don’t flag, you know, the molecules, where it’s going and where it’s not. But in the sense of the Congress today, they know that there are very, [...]
McCain and Financial Reform of Fannie Mae
While doing some research into the substantial influence of the Christian Right in politics these days, I came across an allegation that John McCain had supported a bill while in the Senate in 2005 that would have reformed the regulations governing Fannie Mae and Freddie Mac. As usual, there was a lot of finger pointing [...]
Amy Goodman’s Opinion on the Bail Outs
Wall Street Socialists By Amy Goodman The financial crisis gripping the U.S. has the largest banks and insurance companies begging for massive government bailouts. The banking, investment, finance and insurance industries, long the foes of taxation, now need money from working-class taxpayers to stay alive. Taxpayers should be in the driver’s seat now. Instead, decisions [...]