Bush: the Last Deal

Bush: the Last Deal

watchingamerica.com

Under the terms proposed [in the bailout plan], Bush’s initiative would permit large companies to emerge unscathed from the disastrous consequences of their own greed, but would not lend an ounce of aid to citizens who have lost their homes or are about to lose them, in the midst of the real estate crisis shaking the United States.

Last weekend, U.S. President George W. Bush sent Congress a $700 billion “bailout” proposal for the financial sector, in addition to the $285 billion from the Federal Reserve for mortgage lenders Fannie Mae and Freddie Mac.

(visit the link for the full news article)



[edit on 27-9-2008 by grover]

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[edit on 27/9/2008 by Mirthful Me]

I never thought I would read such a concise summary of the situition coming from a Mexician editorial.

Think about this for a moment. In that three paragraphs the writer not only summerizes the situition and its implications but puts into a historical context as well by drawing parallels between bush minor's plan and what actually happened in Mexico when something similar was tried there 10 years ago... the writer then boldy points out that the bush administration does not have a good track record in oversite period.

A very well done article.

watchingamerica.com
(visit the link for the full news article)

reply to post by grover



Excellent link, must read for everyone out there.

I've included the picture I found in the article link.




[edit on 27-9-2008 by ofhumandescent]

reply to post by grover


I think the continuation of the US in it's present political form has never been in greater peril.

With Mexico and Canada as two of the US' top three trading partners, I can imagine they must be freaking out as well.

It really makes you wonder whether the NAU is an inevitability now.

I agree. This is an excellent article that states without any BS or fluff what the bailout really means.

Star & flagged, Grover!

Many media outlets have portrayed this colossal mess as being far too complicated for everyday folks to ever have a chance of understanding...this article breaks it down very nicely.


Was the financial sector blindsided by this "crisis"?
Was the US Government blindsided by this "crisis"?

Is this "crisis" simply a note in an opera written years ago?
Is this "crisis" one of many smokescreens meant to distract and incite fear & panic?

Ezzi

reply to post by ezziboo


OH YOU ARE SO RIGHT EZZI !!!

This "crisis" IS simply a note in an opera written years ago !

AND

This "crisis" IS one of many smokescreens meant to distract and incite fear & panic !

We were amply warned in the late 80's with the whole savings and loans mess as to what deregulation of the financial sector would likely entail but when people have the attention span of a sit com... what do you expect.

There was some Republican congressman on CNN yesterday trying to lay the blame for this whole mess on the anti discrimination in banking law passed in the late 70's.... anything to avoid accepting responsiblity seems to be the mantra that touts itself as the party of individual responsiblity.