Government Bailout Tally tops 900 Billion!!!

One thing I find very interesting is that is nobody in Washington protecting and looking for the protection of the tax payer and the regular citizens of this nation.

In Washington the government, congress and the fed is looking only for the protection of financial institutions and private industries protecting the elite that are the ones holding all the wealth.

Where are the protest of regular citizens for accountability, where is the outrage.

Pitiful.

reply to post by Unlimitedpossibilities


www.wakeupfromyourslumber.com...

Debt IS Money

9 year prophecy about what would happen if the government repealed the Glass-Steagall Act, passed in the Depression to help limit risk following a banking-system failure. See this link,

Bank On Change
www.time.com...

November 08, 1999

""This is horrible legislation," says bank analyst Lawrence Cohn at Ryan, Beck & Co. "It creates a huge potential obligation for U.S. taxpayers." How's that? Cohn says the new bill will encourage concentration of financial power in a few hands, any one of which could topple the system if it failed--forcing a government bailout. He has strong support from the likes of consumer activist Ralph Nader."

As a note; did you know that Ralph Nader was one of the candidates running for President against Obama and McCain? Lot’s of press coverage they didn’t get.

Glass-Steagall Act repealed

Here is a great article in Time Mag from 1998, it says it all. Even talkes about the chip implant!

APRIL 27, 1998 VOL. 151 NO. 16

The Big Bank Theory and what it says about the future of money

Cover picture - The Future of Money

‘The Giants Want Your Money-The Big Bank Theory’ reads as such,
Hugh McColl, Nations Bank Chairman

‘There are few permanent rules in the world of finance--maybe only one: make money--and even those are starting to come unbuttoned. In the past 10 years, decades of regulations--such as the Glass-Steagall Act, passed in the Depression to help limit risk following a banking-system failure—have been all but abandoned, a testament to the fact that all markets move on—and none faster than money markets. The last time this happened was in 1982, when the Garn-St. Germain Act repealed old regulations and allowed savings and loans to graze for investments in areas like real estate and mineral development. The result was an unmitigated disaster, with taxpayers getting stuck with a $500 billion mess.’

reply to post by marg6043


What we need to get out of this election cycle is a president who is willing to hold the people responsible for this mess, financially responsible to pay back all the gains they got out of this giant scam, and then some.


That seems to be McCain's theme, and I like it.

reply to post by poet1b


McCain embraced deregulation that is also part of what is going on with the greedy financial institutions, when he agree with deregulation I bet he was getting plenty of money from lobbyist.

Now he has a change of hart? what he is going to give back all that campaign money he got?

Don't believe the crap that comes out of our presidential candidates because they are the ones that vote for bills that has taken this nation to the ground in favor of corporate America and against the US hard worker.

BTW McCain Love NAFTA, another killer of the American economy.

Pretty much like what a financial executive said on my daily.

"It's capitalism for profits, but socialism for losses".. in other words, really rich people wins either way, you tax-payers losses any other way.

Whatever happened to the those forceful advises America (IMF and World Bank) gave to countries suffering from the bubble of 1997 Asian Crisis. Why is America not applying laws of the jungle and let the fittest survives.

Whatever happened to capitalism USA cherish so much. Come America, open up your economy, assets and resources, let China, Russia etc buys up everything on the boon. Everybody was up to it iin Russia during the 90's. Come on America, practise what you preach.

Doesn't sounds so attractive when you are at the other end... ehhhhh.

They're making a mockery of the fiat money, free market system.

Our 'alleged 'free market' system makes a mockery of itself. No assistance needed.

reply to post by Daniel666


Wow. Only watched about 10 min so far but what a great video. Love it. So simple to understand.

Originally posted by marg6043
One thing I find very interesting is that is nobody in Washington protecting and looking for the protection of the tax payer and the regular citizens of this nation.

In Washington the government, congress and the fed is looking only for the protection of financial institutions and private industries protecting the elite that are the ones holding all the wealth.

Where are the protest of regular citizens for accountability, where is the outrage.

Pitiful.

Don't worry the 'rescue package' will backfire, might even half bankrupt the place, either ways it will be very controversial and leave a lot of people very bitter.

[edit on 20-9-2008 by Rinorino2]

[edit on 20-9-2008 by Rinorino2]

I wonder how much more the national debt will increase with the supposedly billions even trillions needed to support the new Fed "entity".