Check this out.

CNBC Video Clip Denying Existence of Plunge Protection Team (aka President’s Working Group on Financial Markets) -

The link below contains the CNBC video clip and GATA discussion wherein the CNBC crew are AMAZED to learn about market intervention by the PPT of the S&P;futures or that such a group and its activities even exists. MSM at its best in trying to suppress the truth.

CNBC VIDEO PPT

Well, well, well … it’s early morning and a guest on CNBC’s Squawk Box blurted out in vociferous fashion about how The Working Group on Financial Markets, or the Plunge Protection Team, has been active in the S&P;futures markets … most notably on October 10 and 24. He mentioned that late market action in which the S&P;rose 100 points from low to high for no apparent reason, and that the US Government was in no mood to let the markets close for the weekend(s) in a near state of panic.

Well, you can imagine the horror on the faces of The Muppets, especially as this guest, Scott Nations, President of Fortress Trading, refused to back down and kept right on despite protests from the Planet Wall Street apologist hosts. Some reactions and observations…

*Economist Steve Leisman said he had heard from others about the PPT, but that this was the FIRST time it had been mentioned on the show, perhaps even on CNBC. Leisman wanted more specifics, proof. Scott Nations mentioned the George Stephanopoulos ABC public comment regarding the activities of the PPT during the Clinton Administration.

*Becky Bimbo, the one who goes around the world sucking up to Warren Buffet, almost went apoplectic, saying this PPT comment in no way represented the views of CNBC in any way. She was taken aback and acted like this guy had no right to an opinion such as that in America.

*Bank of America economist, Mickey Levy, was immediately praised, especially after he said the PPT notion was silly, while he frowned disdainfully.

*Scott Nations came back with the government is in the bond market, why not the stock market?

*To his credit host Joe Kernan mentioned that with all the money thrown around by Washington these days, that a billion here and a billion there could really move the S&P;around in a short period of time.

For some reason Kernan would not let up, questioning floor trader Art Cashin next, who got his Irish dander up …. decrying it was Black Helicopter stuff and “conspiracy crap.”

Kernan pressed him further about others saying the same thing regarding a PP and Cashin began to stutter, becoming madder and madder. Cashin came across as an ole goat of a man, whose 40 year commentary from the floor and dealings in the market had been threatened.

*The net, net from The Muppets was the talk of a PPT was just internet conspiracy talk. Yet, Kernan and Leisman obviously have been bombarded with such talk, and NOT from the internet.

*Most of the Muppets/Planet Wall Street, like Becky the “B” and Cashin can’t handle the truth.

*And finally, and I can say this from personal experience, “Scott” has made his last appearance on CNBC.

This is almost too much to handle in one day. CP sent out an email in which GATA was mentioned in the NY Post. I forwarded the same email this morning, but here it is in case you who missed it…

Related:

CNBC Video Plunge Protection Debate
http://www.ritholtz.com/blog/2008/11/cnbc-discussing-the-plunge-protection-team/

The attempts to take over control of the water supply is in gear.  In Sunday’s Parade (11/23) two stories appear on opposit pages.  On the right-hand side, the story of Blumenauer (D-OR), getting high marks for his bill for cyclists, and on the left-hand side, a warning from the EPA that our water pipes all need repair. 
What is interesting about this is that, Blumenauer was coached by Karl Rove and Frank Luntz about two years ago on how to sell a water bill to his constituents.  The bill would ban the private collection of rainwater, similar to what Bechtel did to the Bolivians.  The juxtaposition of these two stories places in a birdcage-bottom magazine like Parade tells me that the subtle or not so subtle campaign to take over the water supply has begun.  I’d like to know how long they think it will take.
On other matters, re this meltdown, I think it has to do ultimately with the Power Elite, (i.e Wall St, Hoover Institute, Harriman Bros, etc.) maintaining their position by keeping the dollar as the basis for exchange.  I noticed they put $300 bn into Citigroup.  After dribs and drabs through AIG, then zig zagging to the left to help homeowners, they decided to just redirect the hose back to their cronies and open the valve full bore.  Things are rammping up.  Feint to the left and then it’s in your face to the Americans.

and while everyone is focusing on this: “this is their normal way folks: actively underway is the TIME TABLE to deliberatly allow mountaintops of mines to be detonated poisoning millions of gallons of drinkable water: in state after state after state: they are going to create a “drinkable” water which is to replace of course the “oil”; the environment laws everyone “assumed” were in place, are for the books only; not for the “rulers” of the USA who do NOT govern, nor are they for the people at all: rather ran like plantations said one Senator in the 50’s: to make $ for the wealthy; in Oregon: trees are going to be clear cut (already have been out of sight of the people) but even more so: deliberately removing all obstacles to poisoning fresh waters & streams is going to be done; you will not even be allowed to use your own well water; Democracy means the PEOPLE must PAY! You are completely & totally expendable: & our lawless leaders less than dependable; they have been trying to get rid of farmers by forcing them to put “microchips” into all animals; then fail to reimburse them, “claiming no $”; now, they will pay $200 per animal for the “green house” pollution: per month? per year? You will NOT be able to garden, or go organic; you WILL eat genetic modified seeds, complete with agent orange & pesticides; THIS is what the RULERS of the WORLD say: the USA Gov; THIS is “democracy” folks: already in play in Colombia, by force killing the folks wanting a decent wage, by the Corps given complete immunity by lawless Progessive Politicians: at every level, city, county, St & Fed: if you do not pay you will DIE! THIS is the decree from the White House that follows the time line of anyone NOT following & going along with THEIR cruelty to the people has civil unrest until they put dictatorships in who will do it their way. THIS is the “change” they have decreed & declared!

Inquiry: How is it possible that with the USA so “broke” and all: that the USA is able to pay $20,000 per month folks: this is more than I make in a year: each & every single member of Black Water? (and this is just for the “average” guy: ) NOT the “big boys”; others get $7,000 a month: the literally hundreds of various other contractors (all paid of course by the “broke” USA: not the first time heard, nor will it be the last, this on http://www.democracynow.org by the AUTHOR & WRITER of the book “Big Boy Rules”; who lived there with them for quite a while. Big scam just like the “oil” scam?

Paracelsus,
Someday You won’t Care

I found this paragraph in BR’s Impact of Science interesting:

“...Fichte laid it down that education should aim at destroying free will, so that, after pupils have left school, they shall be incapable, throughout the rest of their lives, of thinking or acting otherwise than as their schoolmasters would have wished. But in his day this was an unattainable ideal: what he regarded as the best system in existence produced Karl Marx. In future such failures are not likely to occur where there is dictatorship. Diet, injections, and injunctions will combine, from a very early age, to produce the sort of character and the sort of beliefs that the authorities consider desirable, and any serious criticism of the powers that be will become psychologically impossible. Even if all are miserable, all believe themselves happy, because the government will tell them that they are so.”

————————————————————————
You should post this in America the Illiterate.  Start up a brouhaha among the swashbuckling intelligentsia.

Someday You won’t Care

I found this paragraph in BR’s Impact of Science interesting:

“...Fichte laid it down that education should aim at destroying free will, so that, after pupils have left school, they shall be incapable, throughout the rest of their lives, of thinking or acting otherwise than as their schoolmasters would have wished. But in his day this was an unattainable ideal: what he regarded as the best system in existence produced Karl Marx. In future such failures are not likely to occur where there is dictatorship. Diet, injections, and injunctions will combine, from a very early age, to produce the sort of character and the sort of beliefs that the authorities consider desirable, and any serious criticism of the powers that be will become psychologically impossible. Even if all are miserable, all believe themselves happy, because the government will tell them that they are so.”

By Maani, November 20 at 2:49 pm #

Fenwick:

Good for you reading Tarpley’s book.  There is no question that 9/11 was a catalyst, but the problem started even before that: most would say Clinton (for repealing Glass-Steagall), but I would say go back to Reagan (the original deregulation maven).

Peace.

—————————————————————-
What I was thinking was that all these incidents and policy deveopments that have gone on in the past 30 plus years are not isolated and independent.  I am saying they are a continuation of the plot to overthrow the US Government betrayed by Smedley Butler and backed by Prescott Bush, one of members of the cabal.
For example, the overthrow of Mossedech in Iran signaled a move to gain control over mid east oil and gas (50s).  The support of the mujahadin to drive Russia out of Afghanistan continues the plan (70s).
Then the Shah was driven out of Iran (late 70s), so the US builds up Hussein in Iraq and supports him in the 8 year war (80s).
Maybe Saddam was getting heady, but then the US supported Kuwait in slant drilling into Iraqi oil fields.  Hussein complained to the world court but to no avail.  From his invasion of Kuwait (early 90s), his next step, I’d say he said to himself to hell with them, I’ll do it my way.
This began the long process of what we now have, US forces in Iraq for still a long time to come.  This was started ostensibly by 9/11. This is the ice cream layer of the sundae)
I’d add here that the invasion of Iraq was itself not motivated a single goal, oil.  Nor a dual one, geo-strategic, but also, water.  Iraq is flush with water, two great rivers and many lakes. (It is estemated that by 2020 on third of the world will have trouble getting potable water. 
This military prong has been only part to the plan to destroy the US.  Other parts include bankruptcy, control of the media, privatization (look at the attempt in Oregon to pass a bill outlawing personal collectio of rainwater and Lee MA and the attempt by Vesta to take over their whole city government. 
To tie these things together, 9/11, the invasion of Iraq, the indebtedness to China, the overturning of the Glass-Steagall Act, the predatory lending policy and now the looting of the Treasury and the collapse of the Big 3 and a blow to the union movement.
I was saying that the synthetic terrorism of 9/11 explained in Tarpley’s book is the grand play.  The move that sped up the downhill ride.

Fenwick:

Good for you reading Tarpley’s book.  There is no question that 9/11 was a catalyst, but the problem started even before that: most would say Clinton (for repealing Glass-Steagall), but I would say go back to Reagan (the original deregulation maven).

Peace.

Inherit the Wind: Hah! Nice one. Yellowbird may be smoking something he’s not “allowed” to, but he has a valid point. Though I do find it hard to feel sorry for people who bring trouble on themselves. Credit cards? Stupid idea. I’ve never even had one. Credit in general is a scam that only benefits the banks. Cash only is my motto. Looks as if that won’t be worth much soon, though. I’m gonna go smoke. Later.

“Maani, November 19 at 10:20 am #

Fenwick:

Personally, I want to know what yellowbird is smoking…LOL.

Peace. “
******************

Me, too; otherwise stream of consciousness takes over; ideas flow, but in no coherent order; we wonder if there is a point? yet can be sure of one that’s happening: there will be very long run-on sentences; only broken up by semi-colons; as if to say proper punctuation is counter-progressive plot; after all the neo-cons want to impose their fascist grammar upon us; the grammer of slavery. Later.

site: judiciary.senate.gov; c-span where you see lots of Gov things going on: Michael Calhoun, Pres of Center 4 responsibility lending: PREDATORY loans: what happened: folks were bribed just like at the colleges to say “this is the best, blah blah blah; put into risky, high interest, bad news loans: when they QUALIFIED to be in far better safer loans with lower interest rates. Asked re “voluntary modifications”: reply: will think Snoopy actually gets to kick that football this year; been trying it for 2 years, hasn’t done enough: (reason: like the one man who personally went & spoke with folks: brought all the paperwork, going over it with them, reading to be sure they understood all the “terminology”; spent hours there confirming they understood; they did & signed: unbeknownst to them, the house now belonged to HIM. FBI knew & did nothing; Why? cuz they get their orders from Capitol Hill. reported on M&J;morning show. They showed the man’s face on TV; BEWARE of this man! Still others: modified to a “fixed” interest: failing to state, that just like the credit cards, after 6 months, doubled the amount they were paying before they went in to get help. Instead of paying $1200 (before the change) went down to $800, now after “modification” and “fixed rate” it was $4300 a month; they lost their home of course. Illegal? Of course; Congress know? Of course. THAT is the problem. Nothing is done, because they have Congress’s total approval unfortunately. So sorry for your luck; you are adults.

I am reading Webster Tarpley’s book on synthetic terrorism.  I think to understand this meltdown, you have to start from 9/11.  It seems from reading this book that the meltdown is the cherry on top of a huge financial sundae.
Thanks to whomever added the link to that book.

Manni,

LMAO

Come to think of it, me too.
I want some.

Q1: Financings such as those planned for the meltdown will result in a 2009 deficit well over 1 trillion, in addition to the normal deficit from operations, including the Iraq war and Afghan wars. When they issue (probably 10 year bonds) in that amount who is going to buy them, who that is that is not already holding a ton of US Bonds - China? Who? What will happen to confidence in US dollar when they don’t sell, and how much will be picked up in a tax increase? All this and goto Mars too?

Q2. Why are the US and Canada thinking of bailing out the US auto companies? Why not let the Japanese and Korean companies etc take them over. Isn’t that what free enterprise is all about?  And then we would not have junk gas guzzling cars.

Manni,

LMAO

Come to think of it, me too.

Fenwick:

Personally, I want to know what yellowbird is smoking…LOL.

Peace.

By yellowbird2525, November 18 at 8:49 pm #

Your posts are better than Dr. Bronner’s writing on his liquid soap.  And reading them makes the effort worthwhile.  They’re like soaping down with a bio-degradeable liquid soap and diving headlong into a cool mountain lake.

Usury laws been around since just about as long as the banks have to protect the people. On top of that there are laws re loan sharking, & predatory. Collection laws, environmental laws: laws against premeditated poisoning & murder. ALL of these Congress has been operating outside of for a # of years; the “truth is relative” means that they believe themselves to be “gods”; whatever they say, is truth, in other words. IN REALITY: woods & areas supposedly protected by law, have been clear cut within where folks are kept out; all over the nation folks; 800% interest; citibank was 1 that went to colleges & bribed them to say that THEY were the best to go to for student loans, & gave them “visas” etc with the college logo’s on it; criminal folks & all with Congress’s full knowledge & approval; other folks tried to get to fill out the form but it wasn’t really a credit check; just so that they would get “free stuff”; checks with the info in bold print ZERO INTEREST! bring your balances HERE for FREE INTEREST when in reality on the line above the last on the 3rd page in small print it said it would charge you 24% on these; all done with Congress’s full knowledge & approval folks; 800% interest on a “pay day loan”; the high interest (predatory folks) and the “home loans” all premeditated predatory folks: with Congress’s full knowledge & consent. And the PEOPLE have NOTHING: and are paying Corporate taxes: those who have it set up so they pay minimum tax far less for ALL in the Corp; than the common man does. TELL ME this is not slavery. LOOK at all the countries who have freedoms as we do; and THEY CHECK the Corps: keep the LAWS IN PLACE that govern them; Oh, I forgot. We are a nation of LAW. (with lawless leaders who work to deceive, mislead, misdirect, & attack us agressively in every single area of our lives. Freedom is not dead: cuz we are fighting back. Take all your $ out of all of your accounts folks: except for $5.00; for the next 3 months. Might go to moneymax or moneynews & find out how you can do banking in England: or put $ in stocks there without being ripped off for “pay” & have solid companies who have given returns for over 100 years. Gosh, a REAL COUNTRY with REAL LAWS that are observed by REAL LAWMAKERS; who REALLY DO benefit the people that THEY represent. Sounds more like FREEDOM to me than what I see in the USA today. My country woe is thee, thy politicians have deliberately poisoned thee, from sea to sea. Slavery & oppression everywhere, politicians say it’s the last days anyway who cares? While families weep as their children die from pesticides & chemicals put into them for profit by powerful politicians; Please remove “and justice for everyone” from the pledge of alliegance”; THERE IS NO JUSTICE IN THE USA.

There is no fix to over consumption and debt based society. Dismantling the wall street pyramid game is the only option. No one wants to do that but it will happen anyway. We will only make the process longer and more painful by pretending we can avoid it with more debt based actions.

Even if we could fix things ” The Paulson way”, no one stupid enough to go along with a plan that loots the treasury simply to enrich Mr. Paulson’s good buddies.

Cancel the ‘blank check’

http://tinyurl.com/67ust7

There is no easy answer to fixing this.  Governments don’t understand how to make a profit and businesses don’t understand how to not destroy everything around them, both ecologically and financially.

It’s up to government to regulate the free-market.

Without regulation, people could sell their organs.  Therefore, corporations could coerce people to sell their organs…do we want that? And Blackwater-type companies could operate (pun intended) in foreign countries and FORCIBLY take peoples’ organs for sale back in the US.  Is this the kind of free market we want?

Ford built a car with an exploding gas tank and rather than fix it, Ford fought regulation with millions and millions.  Do we want this free market?

Drug companies are required to do extensive testing and the results are scrutinized.  Cheating results in jail time and prohibitive fines.  Do we REALLY want to do away with that (and Bush HAS been doing away with it)?

Old-time Republicans like Teddy Roosevelt BELIEVED in Corporate America AND strong regulation: The Sherman Anti-Trust Act had only been applied to unions till TR broke up Northern Securities with it.  Republicans HATED it (Like John D. Rockefeller who believed monopoly was more efficient than engaging in “wasteful” competition).  TR also was behind the Pure Food and Drug Act—so corporations couldn’t sell tainted, poisoned food and make outlandish claims for patent medicine.  He was an environmentalist, too, establishing the National Parks system.  Plus, TR, a devout Christian, not only had the coinage redesigned, he had “In God We Trust” REMOVED from the money.  Plus, TR created a ruckus by inviting Booker T. Washington to dine at the White House.

True, he was an imperialist and jingoist, but domestically, TR was more liberal than most of today’s Democratic Party.  And the GOP would dis-own him.

My point?  Once there were Republicans stalking the landscape who understood that government regulation balanced the public good with the private right to free enterprise.

By mike112769, November 18 at 6:06 am #

Seems like we are back to being a nation ran by Robber Barons who are telling the politicians how to behave. History ALWAYS repeats itself
———————————————————————
Karl Marx said something like history repeats itself.  The first time as drama.  The second time as farce.  After watching the Naomi Klein interview (thanks for the link) where she talked about the banking heist, and then watching C-SPAN this morning where the Washington Journal’s call-in quetstion was about how the democrats should treat Joe Lieberman, I got sick to my stomache.  The tactic they are talking about is whether or not to take his gavel away from some insignificant committee, but still let him lead the Homeland Security.  Now, that’s farce.  They are giving away the store and arguing about this little creep.
These people in charge are social experimenters.  It seems like their goal is to drive the economy right through the floor and then watch to see if the sqirming proletariat gets organized and violent to the point of an attempted violent overthrow. If not, well, then Americans aren’t as smart Bolivians, yet.  If so, then that Northern Command that they just brought back from Iraq can be put into action. 
But, if history really repeats itself…....... someone could take three in the hat.

Part of Naomi Klein’s leftism was to append 71 pages of citations to The Shock Doctrine.  Annoying, isn’t she?

Seems like we are back to being a nation ran by Robber Barons who are telling the politicians how to behave. History ALWAYS repeats itself, and since the Public doesn’t seem to pay attention to history, the Robber Barons are back! Meet the new boss, same as the old boss! We are living in the death of the American Dream, and we can only blame ourselves. The Public allowed all of this to happen and, true to the American way, we wait until it is too late to say we’ve had enough. We can shut the barn door, but the horse has already gotten out. If we want our Dream back, we will have to take it. The people in power don’t care about the Public and they never will. Until we, as a society, realize this the politicians will keep doing this to us. They promise us “change” every two and four years. The only change I’ve seen is they keep getting richer, while my family and I keep finding things that we can live without. The American People are not real to the American government.

Bear in mind that Naomi Klein is a very left-wing Canadian writer who does not go uncontested - go see the writeup on Wikepedia, which think is reasonably correct.

Neeless to say she is not middle of the road.

By davidperi, November 17 at 7:40 am

I watched that democracynow with naomi klein and is this ever getting more and more frustrating. Imagine it, they will steal everything and all of sudden I will not be able to draw social security in about 5 years because these crooks are going to steal all that money and it will prevent any kind of healthcare for the people being set up. And now everything promiseed to improve the faltering economy is going into back rooms in secret meeting and coming out as corporate welfare. And we the people are standing around slacked jawed while the congress does its best to get their share, the w & dick show is still contriving plans for where else to steal the money from and there will be NO ACCOUNTABILITY. And being a democrat or republican makes not one iota of a difference.

this is/was all part of a set up plan with long range terms & goals; watching the hedge plan top folks who make over $1b & $3b a YEAR, without having to pay taxes on it, or much of it; even they stated that the laws & regulations “went by the wayside” & they were well able to travel the road with the the rules/regulations etc there. *****remember folks: Bush went into the war with Iraq CLAIMING (lying) saying “GOD told him to attack!”; God hates liars; Hussain had agreed to surrender to the Swiss; the USA did NOT accept & went in as they had planned to do since 1996; THIS is the reason the 75 retired military folks with pentagon & contractors who siphon trillions of $ out to launder back in to “politicians”; were TRAINED on how to look; what to say; & how they PRACTICED stating “Saddam Hussain” was a threat blah blah blah. ALL MILITARY TERM: PERCEPTION MANAGEMENT folks: they need the PEOPLE to PERCEIVE what THEY say is true. We are “trained” to believe “authority figures”; like the “reports” saying toxins are good which come from the criminal Corps MAKING the toxins; which work hand in hand with Congress: in fact, Congress just passed a law in a blink of an eye to allow them to NOT put ingredients on labels any more! THIS is what they are doing now: using the “bible” they are making THEMSELVES out to be the “righteous”; the citizens of the USA are to blame for all wrongs: and THEY are the wicked & deserve to be done away with; & they are agressively poisoning them with pesticides, agent orange, formaldehyde is in all things; Don Rumsfeld had no problem getting thru FDA & now it’s in all food stuff you eat! FIGURE IT OUT FAST FOLKS! it is a SET UP;

I thought it might be approrpitate to provide Obama’s own words here.  This is from his speech at Cooper Union in March:

“I do not believe that government should stand in the way of innovation or TURN BACK THE CLOCK TO AN OLDER ERA OF REGULATION.  But I do believe that government has a role to play in advancing our common prosperity, by providing stable macroeconomic and financial conditions for sustained growth, by demanding transparency, and by insuring fair competition in the marketplace.  Our history should give us confidence that we don’t have to choose between an oppressive government-run economy and a chaotic and unforgiving capitalism.” (Emphasis mine)

Hopefully, recent events have given him pause to reconsider the emphasized language.

Peace.

Today´s broadcast on http://www.democracynow.org with Naomi Klein says the clearer it becomes, Washington´s handling of the bail-out for Wall Street is not merely incompetent, but borderline criminal.

Welcome one and all!
Todays,Yesterdays and Tomorrows agenda is:
the New Order….er…the New World Order!
yup.
But we don’t have to worry ‘cause 2012 is not so far away.
Did I just say that?
     
```````````````````&&&&&&&```````````````````
I am an optimist…( really I am ) but my vision is somewhat clouded with the fact
that G. Dubya and his cronies still hold office.
They should have been slaughtered at the alter long ago.

For a fun time - Listen to Max Kaiser

http://karmabanqueradio.com/

Asset seizure 101.

I just sat down to watch the President’s address at the G20 meeting.  He stumbled though a few introductory remarks and then he dove right into Credit Default Swaps.  All I can say is, WOW!  His complete ignorance gushed forth. 
Schadenfreude.  I could hardly believe it.  I knew a while back to force myself to watch him anytime he appeared on tv.  It was worth the chance of seeing this guy go on the fritz. 
Then his handlers must’ve realize that this was looking very bad, so they pulled the plug.  The networks called it Technical Difficulty.
From a follow up message, it sounds George needs a little hair of the dog that bit him.

By leilah, November 14 at 4:42 pm

I just viewed paulson’s interview with Jim Lehrer and it just confounds me that this creep thinks he has the answers and the plan to get a handle on the financial industry that got us in this mess to begin with and are continuing to dig the hole even deeper for the people. First of all, this is a corporate welfare bailout, proving beyond any shadow of a doubt that this is NOT a ‘free market’ system that exists here in america. In a free market those instiutions that find themselves going down because of their ‘creative’ financing of mortgages and such would be relegated to going the way of the dodo. A business fails, it goes away, ergo the reality of no free market system because this paulson and bernanke pukes are using a ‘bailout’(which I recall they are trying to stay away from that term) or now the ‘rescue’ which is saving these banks and financial institutions that should be shut down and allowed to die. And people’s money that they lose from no income or using their savings no matter where they have it, should be paid back to them with this ‘bailout’ extravaganza. But no, we the taxpayer will have to pay this money back and because it is so huge and will take soooo long to pay back, most of us will not live through the payback and it will fall down to our children and grandchildren to pay for a bunch of crook’s stealing everything they can without fear of some accountability and punishment.
Already AIG are taking their share to pay bonuses, ceo, fancy vacations, just about anything other that what it was meant for it to be, at least as bitch pelosi stated in her little speech that stopped passage on the first vote. Oh, how I remember her several times stating the the taxpayers would not be responsible for paying for this and how there would be oversight, accountability and prosecution; damn dirt lying bitch. She is definitely part of that grown group of dangerous ‘officals’ that are killing this country for their own personal, political, economic and power gains.
And the poor people, especially the ones who have honestly bought a house with a set % rate instead of the voodoo bullshit the crooks used to increase their financial status, will most likely have the deputy coming out to foreclose when they can’t pay because they have lost their income and used up what little that they may have saved. The wonderful, the beautiful, the marvelous unforgiving american free market system at its shinning best.
Also, it was so easy to tell how much paulson was lying about how hard they were working and how a couple of times he stated how the people were the main concern; all the while turning right around and saying how he needed to get more and more money into these irresponsible and criminal banks and lending houses for the people’s sake. SAKE my ass, just a continuation of their plans to keep the people in continual and increasing debt because they keep giving more and more money to those responsible.
There are a lot of people that need some severe jail time and large fines for what they have done and listening everyday to the newly elected and the re-elected people’s rhetoric, it just doesn’t look good at all.

I wonder if William Woosley, Business Professor at Citadel and author of the paper in Gurfinkle’s link, is any relation to R. James Woosley, ex-head of the CIA, right-wing Zionist hawk, and member of the Trilateral Commission?  Maybe his son?

After seeing Paulson on the Lehrer Report last night and Kashkari’s, Paulson’s Lieutenant, appearance before the House of Representatives, I can see why Kashkari was selected.  Paulson was tired, inarticulate and unable to answer the questions directly except for the last one, “Do you think you are doing good job?”  His answer was, “Yes.”
Kashkari was no more forthcoming in his testimony, but he looked like a true believer, bug eyed and clear-skinned, and he was spry (he’s 35 years old).
They both came across as company management people who are at home with PowerPoint presentations, talking from bulleted lists and saying empty things like, “We’re moving ahead in a positive direction.”
More revealing was the follow-up interview with the Times Reporter, Duhigg.  He tried to glide by the fact that any interest change will run into trouble because these Securities holders can sue to keep the interest rates high.  Therein lies the nub of the problem.  These Secuities were sold, as it turns out, to keep the economy at ransom.  Either the homeowners pays or the taxpayer does. 
Now, it comes out that European banks are more leveraged than American banks.  I’d be willing to bet that these Securities were disbursed to European banks, Saudi Arabian Banks, and China.  For example, that means that these plunk could have plunked down a $1 for $30 dollars worth of Secuties with guarantee that the US taxpayer is going to cover it.  That’s better than buying Google at the IPO of $100 share and watching it go up to $400 a share.

By FENWICK, November 14 at 8:01 am #

Samosamo,
You mean, my lyin’ eyes?

*****
It is reference to your phrase for what will the people believe, Ferguson or a pull toy(bush) and I added ‘or your own eyes’, other people.
I have been believing what you say Ferguson says about a depression for a while but I am now a little confused about ‘your lyin’ eyes’, does that mean your eyes lie to you or what?

Hippy Pam:

“It must amount to BILLIONS…”

It does.  And remember that this all started way back with Enron (though it probably goes back even further) - with Ken Lay getting a “golden parachute” in the tens of millions after his company literally wiped out the 401K and pension plans of its employees.  The only word I can think to use for this is “sick.”

Peace.

Samosamo,
You mean, my lyin’ eyes?

FENWICK,

Now who’re you going to believe, Ferguson or a pull toy?, or your own eyes?

Bush says, “The crisis was not a failure of the free market system, and the answer is not to try to reinvent that system.”

Niall Ferguson, MA, D.Phil., Laurence A. Tisch Professor of History at Harvard University and William Ziegler Professor at Harvard Business School say we are headed for a depression.

Now who’re you going to believe, Ferguson or a pull toy?

I WONDER….How much MONEY could be put BACK in the coffers if all those dishonest conniving CEOs were FORCED to give up homes-bank accounts-golden parachutes-etc…...And how about those HEDGE FUNDS??Put THAT MONEY in to circulation…It must amount to BILLIONS…....

Speaking of the crime scene:
http://www.alternet.org/workplace/107000/

“Avoiding the repeat of history the next time”

Wasn’t the “New Deal” supposed to do that?

LOL

By SteveL, November 13 at 1:48 pm

Well, I am on your side but here is something to refute your comment, it is titled : ‘bush makes case for the free market’s roll in crisis’ and here is the link from msnbc(you can still find some note worthy items on msm sites):

http://www.msnbc.msn.com/id/27698354/

Here is a quote from this article:
***“The crisis was not a failure of the free market system,” Bush said. “And the answer is not to try to reinvent that system.”***

So, if anyone takes w as the top or head neoconsevative(I damn sure don’t; he couldn’t head anything even his vp dick), these clowns are as a group still trying to make the ‘free market’, ‘unfettered market’ or ‘deregulated market’ seem to be the best thing since their ever present buddy jesus h. christ. And what I gather from the article that gets to me the most is that it is just more corporate welfare and rewards for the pieces of fecal matter that got us into this mess. READ Naomi Klein’s ‘The Shock Doctrine’.
It is a sick sad and damning attempt to justify to the stupid veggable class of america that will believe things would be better by retaining the ‘free’ market when the true intent is to keep it open and free for the benefit of a bunch of crooks.

Neo-cons have not will not ever admit to their mistakes of de-regulation and as a consequence have no learning curve.  They cannot point to one example of success with de-regulation anywhere on the planet.

re: Haroldmh

I have skimmed through the “Canadian book” to which you referred.  I have seen much of this crap before.

His enemy is Capitalism. His solution is socialism, or a command economy. The Soviet union was a command economy, as was Nazi Germany.

In Canada we have had a socialist party that has never governed nationally, but it creates a leftward tug of social programs that are co-opted by the middle, just as the middle co-opts rightist measures at times. As often is, the mean is usually better than the extremes of purism. Socialism, or a command economy is not the answer, nor is unbridled capitalism.

In fact we have had two or three socialist governments elected at the provincial level in Canada. Like most others in the world they have been abject failures because while they knew how to spend money and bring services to people, they just do not understand how wealth is created. Command economies have made a mess of it, almost always warping the realities of economics (which apply to any hairbrained system) sufficiently to fail. About the only enterprises which have been even marginally successful are ones such as state auro insurance, and even they become bureaucratic juggernauts with premiums more than the private sector. For example, competitive systems in Maritime Canada are half as costly as British Columbia which has a provincial auto insurance system.

The renowned Tommy Douglas started several socialist enterprises in Saskatchewan - all failed because ideology clashed with the realities of economics. A giant scheme to build fast ferries in Vancouver failed because the socialist proponents did not do a workable business plan and sank multi-millions in the building of four large catamaran ferries that were inappropriately designed for the task. They were   picked for a tiny fraction of the cost by the Washington Group and lie mouldering at dockside ten years later. Costs to convert them for other customers are prohibitive because they were designed for inland waters - and poorly at that - they are simply too costly to run. 

The history of socialism is littered with such examples, or such as Great Britain where the unions took pover the country until Margaret Thatcher came into power.

There are isolated examples such as Sweden which had enlightened health and social programs - even they had to trim their sails despite a healthy steel and industrial machine (paper machines and so on.)
Governments are lousy at creating wealth.

Entrepreneurial individuals and companies are great at it, because individual self-interest drives them. At the point where it becomers greed the role of government is to regulate operations so that runaway greed does not poison the system as it just did in the US - and some other parts of the world.

In fact, Canada’s economic genius, if it has one, is that it has not gone the whole route in deregulation. Canada’s banking system is different than the US. It has very large branch banks that operate not only Canada but other parts of the word as commercial and investment banks. Let loose from regulation their greed would ultimately create the same catastrophe as in the US. And that is only prevented because the Canadian government did not deregulate as far.

Even so, Canada is affected by the US meltdown because it is by far the largest trading partner the us has, notwithstanding China, Japan and so on.

The solution is definitely not the airy fairy theories of socialism outlined in the referenced web site.  The solution, I believe, lies in a free enterprise system that is regulated and taxed so that it does not run away with the store, and provides enough tax revenue to have social support systems that are appropriate to the need and the revenue.

OIL

If you want to know why oil continues to go down despite the best efforts by OPEC, you can Google Lindsay Williams the The Energy Non-Crisis or listen to him here:

http://video.google.com/videoplay?docid=3340274697167011147

Hint: It does not have to do with the strength of the dollar or a decrease in demand.

Oil will continue its decline to 50 FRNs / Barrel and then go to 200 FRNs / Barrel. Timing is unknown.

We hear constantly many financial ‘experts’ claim that the health of the national economy depends on government incentives to businesses and entrepreneurs. I find this claim, central to the policies of Reaganomics and the Bush administration, extremely dubious.

As a typical example, here is an excerpt from a Washington Post article by Alan D. Viard, Alex Brill and Arthur C. Brooks Wednesday, October 29, 2008; Page A17, against changes in this policy.

“If rewards for America’s entrepreneurs and firms are reduced through higher marginal tax rates, their incentives to earn, invest and create jobs will be diminished. Americans will have less incentive to save, and firms will have less incentive to pay dividends. Tax avoidance will become more profitable. A smaller capital stock will mean a less productive economy and lower wages for middle-class and other workers.”

The idea that entrepreneurs and businesses need an ‘incentive’ to earn profits and invest in making more profits is ridiculous. Human nature drives all of us to better ourselves, no government incentives required.

Businesses create exactly as many jobs as necessary to operate and no more. For the thirty something years these policies have held sway, these ’jobs’ are producing lower wages in an inflationary economy, while health care benefits and pensions have been reduced or eliminated.

Americans, other than entrepreneurs and business executives, don’t save because they don’t even have enough income to pay bills, housing, and college tuition for their children.

Entrepreneurs and businesses pay dividends to attract investors, no government incentives required.

A purposefully intricate tax system, favors large incomes, like entrepreneurs and businesses, which pay tax lawyers to avoid taxes and increase profits already.

In our deregulated free market economy, profit is a runaway train and incentives are the supercharger. Before the recent train wreck, many entrepreneurs and business executives were making huge profits for themselves and their tax lawyers.

But what has been the real benefit to our national economic health? The deficit is growing exponentially. Wages for middle-class and other workers have slipped far below the poverty line. Foreign governments, many inimical to American ideals and interests, now own huge chunks of American real estate, resources and our national debt. Foreign adventures are draining our capital to no discernable benefit, except for entrepreneurs and businesses that plunder new resources (and hire mostly foreign workers.) or provide support to American troops. Our American infrastructure at home has been allowed to deteriorate while we pour billions into military aid to foreign countries, not making the world any safer for Americans that I can see.

Not our national economy, but only the economies of entrepreneurs and businesses that pay huge bribes through lobbyists benefit from incentives to entrepreneurs and businesses. The incentive relieves them of the burden of either making a profit or paying a decent wage and providing health care and pensions to their workers. Many of them with factories and bank accounts overseas simply jump ship when American workers are too expensive and too independent, or the American taxpayer is unwilling to provide them with the incentives they’ve been enjoying for so long.

‘Experts say “We need incentives to keep businesses from moving overseas.” I say “Don’t let the screen door hit you on your way out.”

Today, in a local coin shop, a lady in her late 50’s or early 60’s was selling bits of her jewelry to pay the bills and put food on her table.  She was unemployed and had just gotten a job at a local Macy’s, even though Macy’s is in trouble. She needed cash to last until that first, small check came, so she was selling her lifetime treasures, just to pay the bills and eat. She thought she could still redeem a silver certificate and get silver, which hasn’t been true since the 60’s.  The owner sadly told her that silver cert was only worth $1.25

Thousands of Circuit City employees are losing their jobs. GM is asking US to pay for GM to innovate, something they have been neglecting and fighting for 40 years, spending money on lobbies that should have been spent on new technologies.  Ever notice that the ONLY thing Chevy actually comes up with that’s new is the COSMETICS of the crappy car underneath?  Millions of Americans have lost their jobs since Bush the Disaster came to power.

But where did it start?  I place on GM, Ford, Chrysler and AMC, who, back in the 60s’ ended innovation other than styling.  When the first gas crisis hit in 1973, did Detroit change? No.  They STILL make gas-guzzling trucks today.  When the Japanese hit our shores they laughed.  When the Japanese beat them, they STILL made gas-guzzlers and learned NOTHING from their conquerers.  And so began the decline of US Industry. In 1979, an event occurred that would prove to be disastrous for the US.  A Japanese firm developed a VLSI circuit smaller, faster and more powerful than anything the US had.  They blew by us in chip technology.  And we did nothing, instead worrying about evolution vs creationism in our schools.

God doesn’t make you prosperous if you don’t educate yourself and your children.

Then in 1981 can deregulation….

And in 2001 came an insanely big tax cut…before 9/11.

And the deficit grew. And grew, and grew.  That’s, to me, the match.  And the sub-prime mess two years ago was the first symptom.  Now we see the rest…...

Fenwick:

The common wisdom is that Rome was “destroyed from within” by its “decadence.”  But most people do not realize that that “decadence” was as much economic as moral.  And in the fall of empires historically, the two go hand in hand.

Peace.

Allan Gurfinkle - Here are a few places that can help explain the Fed and the fractional reserve banking system.

The articles and films on the main page are a good place to start.
http://www.silverbearcafe.com/private/home.html

Zeitgeist: Addendum (just the first section)
http://video.google.com/videoplay?docid=7065205277695921912

Another site that explains history well
http://fdrs.org/

A good source for Austrian Economical thought.
http://mises.org/

A few books to get you started:
Secrets of the Federal Reserve by Eustace Mullins
The Creature from Jekyll Island by G. Edward Griffin
The Case Against the Fed by Murray Rothbard

The Fed Caused the Great Depression

Milton Friedman proved it and Bernanke confirmed it.

Does anyone honestly believe that they aren’t doing the same thing once again?

————————————————————

http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021108/default.htm

Remarks by Governor Ben S. Bernanke
At the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois
November 8, 2002

On Milton Friedman’s Ninetieth Birthday

“Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”

Fenwick 1229
Hey, that sounds like now, doesn’t it? So who and what is waiting to take the place?

From Geo. Washington’s Blog,

“Political insider and veteran reporter Kevin Phillips has documented that every major empire over the past several hundred years has undergone a predictable cycle of collapse, usually within 10 to 20 years of its peak power.

The indications are always the same:

- The financialization of the economy, moving from manufacturing to speculation;

- Very high levels of debt;

- Extreme economic inequality;

- And costly military overreaching.”

I bought a new Pontiac 1000 in 1986, it was complete junk by 1990.  I think the dealer ripped his logo license plate off.  I drove around town to embarrass him.  I bought a used Toyota Camry that lasted till this year.  I bought another used Toyota Corolla.  I’d never buy an American car again.
The experience in the dealership was also world’s apart.  The Pontiac was like the scene from Fargo.  The Toyota dealers were business like and I got a good interrest rate.
They should let ‘em go bankrupt.  That doesn’t they close and everyone’s out of work.

Alan Garfunkle 1208:

That is precisely correct. An increase of the money supply is inflationary.  A serious recession or depression deflates the value of the dollar. In addition, when a central bank sells bonds to other banks the banks reserves are increased and hence their lending power is increased thus causing even more inflation. In recessive times, of course, the intent is to stop a deflation, create credit and make “money” move. Much of the value of money is in its movement and all the rest is in confidence. The credit crunch has slowed movement tremendously. But often those with hands on the levers are unsure if reality equals textbook.

  Money and Banking 301 a la 1952. Probably changed.

As for American cars in later posts, ask the US makers why they continued to produce cars where the doors don’t fit, where the rate of repair is high and gas mileage is low and they fall apart the day the last payment is made (my experience with Ford, Olds, Pontiac, Chev - all except Rambler.) Since 1992 I have had three Toyota Corollas, nary a problem, very good mileage (40mpg imp.) meanwhile they big three were still making gas guzzling junk. But mind you, they had gps etc. Incidentally, Corollas are made in both US and Canada.  When North American car makers produce good cars that last at a reasonable price people will buy them. (If they have anything left after this debacle, that is.)

By Myronh, November 12 at 10:53 am

Because it is too logical and thus a not an option. Same as years, no decades ago, when the idea of fuel efficiency was discussed for lowering dependence on oil or reducing demand to lower prices. With the colusion of the car and oil industries this is never considered.
I drive a toyota pickup, 2005 model. It gets about 5 mpg less than the 1985 model I had before. But just as mpg is the first most important thing in my considering a vehicle, reliability of the machine is just as important. I would be mightly disappointed to get in a vehicle to go somewhere and it would not start or after driving is for while have it recalled for a defect.
But your idea hopefully will one day be a basis of more realistically priced vehicles and reliable vehicles instead of a greedy corporation trying to make money at the expense of inferior products, which american corporations have become quite adept at producing.

By haroldmh, November 12 at 9:00 am #
(Unregistered commenter)

“Fenwick (see first comment)”
Thanks.  I am saving that quote.  It all still seems unbelievably diabolic. 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
By TAO Walker, November 12 at 9:09 am #

The working presumption here is that there really is some way for people trapped inside a plummeting elevator…
~~~~~~~~~~~~~~~~
Thanks, another post to save.  I know your description is right.  Coming from a post WWII public education on how this government ran its business to what is be portrayed here, I vary from anger to bewilderment and fear, still holding an outside hope for the appearance of the Lone Ranger. Like Bob Dylan’s song with the line about the Lone Ranger and Tonto ridin’ down the line fixin’ everyone’s trouble, everybody’s ‘xcept mine. Someone musta tol’ ‘im I was doin’ fine.
If all else fails, insanity might be an out.  As Fenwick Physics holds the answer to the plummeting elevator.  If you time it just right and jump straight up when the h=0.  You will land as if you had simply jumped a foot or so in the air.

The working presumption here is that there really is some way for people trapped inside a plummeting elevator (Now there’s an intriguing contradiction-in-terms.) to “get a grip” on not just the dynamics of its fall, but on some tangible device that would enable them to at least slow the thing down some…. any effective means of actually arresting the plunge altogether now widely acknowledged as being beyond the passsenger/operators’ reach.  Given the twin- facts that, one, its owners long ago decided there was no need for brakes on this contraption, and, two, that its throttle is welded stuck in “full,” it oughta be painfully clear by now there is absolutely nothing on-board that can serve to either “manage” the rate-of-descent or “control” the damage when the allamericanpipedream comes crashing down into the firm Ground of Living Actuality.

The self-selected “elite” among you, of course, intend to “cushion” the impact on their ownselves by climbing as high as possible on the “global” pyramid-scheme of those hapless domesticated Humans self-designated as “civilized” “individuals”....hoping all of the fatal “shock” will be absorbed by the multiple layers of awe-struck-dumb “lesser orders” stacked, as it is imagined, underneath them.  Here’s the fatal flaw in that plan.  This thing is coming-down “head” first (Remember Einstein showed that the inmates of the “elevator” had no way whatsoever of truly orienting themselves relative to anything at all in the “outside universe.”), and all aboard are about to discover the absolute truth of the Dylanesque dictum:  “....when you’ve reached the top, you’re on the bottom.”

This old Savage offers this observation, made from the safe distance of Indian Country, to all here who might benefit from information not generated solely within the heterodyne whine of your vehicle’s self-contained P.A. system.  For them as still has ears, the real “race-to-the-bottom” better begin NOW!

Hokahey!

BlueEagle,
Thanks for your explanation.  The following sentence caught my attention.
“The puppet masters are mainly the House of Rothschild and the Rockefeller Family.”
This explains the dichotomous nature, or feeling, to the whole fiasco. I had wondered, however, if it was some sort of free-for-all now that Asia has become an economic power center.
I wish I could find the quote by David Rockefeller that says he owes a debt of gratitude to the newspapers and other media for keeping this plan out of the news.
In the late 60s or early 70s, Richard Nixon gave a curious warning to Wall St. that if they didn’t back off on something, he was going to take sharp turn to the right.  I think the threat implied that they knew that it wasn’t the time.  Other steps needed to be taken, for example, dumbing down the voters a la the loss of civics education under Reagan and indoctrinating them with new militaristic and economic worlview.

Allan Gurfinkle I don’t see any flaws in your explanation, and yes the Fed can create money out of thin air. The Fed can literally print money physically or digitally (1s, 20s, or 100s) and hand the bills out to whom they’d like.

The Fed is owned by it member banks, but is controlled by the governors of the Federal Reserve of New York. Those on the board are just puppets as are the men that met on Jekyll Island. The puppet masters are mainly the House of Rothschild and the Rockefeller Family.

They control the most of the oil and every bank in the western world and quite possible in the entire world through the Bank for International Settlements (BIS), the central bank of central banks. It’s no surprise that all central banks are reducing rates in unison.

Now think about this… the Rothschilds and Rockefellers controlled close to 1/6 of the wealth in the world before the Fed was created. Do you really think their plan was to gain more wealth?

I would argue that what is happening has nothing to do with money/wealth, but rather control. As we watch all currencies collapse, and a new one world currency be ushered in, it will be much easier to control the world.

Yes, there are arguments against this such as gold is a one world currency or the Federal Reserve Note (inaccurately called a “dollar”) is the reserve “one world” currency of the world already. Both can be manipulated, if you own most of the gold or the FRN printing press. For now, this is my opinion and would welcome others.

samosamo is was Amsel Bauer Mayer Rothschild who said, “Let me issue and control a Nation’s money and I care not who makes its laws”.

It is one of his heir, Nathaniel Philip Rothschild, who is now a “member” of the International Advisory Board to Barrick Gold and whose family was an advisor to NovaGold.

Yes, golden rule is… He who has the gold, make the rules.

I’ve added a link to this article on the site
http://www.jeremiahfilms.com/BlogWatch/Economy/
where blog posts related to the Financial Meltdown are placed. There is a considerable amount of information in your presentation - WOW ... I will ask those who are working on a documentary to look at it.

This is robbery in plain sight.  I bet AIG does a whole helluva lot more than sell insurance. I’d bet they are the spigot that is being used to drain the coffers dry.  If AIG was such a good deal why didn’t they allow it to be picked up by some other company?
AIG is the one to stop and investigate.  But, alas, there are no more laws and no one with the grapes to enforce the ones we have. 
Congress and Wall street take everything and then have the nerve to stick us with a bill and all we can muster is an apathetic, “Oh, Gee.”

Read the following rom the Arizona Republic:

“Days before American International Group received its latest government bailout on Monday, the troubled insurer hosted a $343,000 conference for independent financial planners at the Pointe Hilton Squaw Peak resort in Phoenix.”
———————————————————-
They’re unfuckinbelievable.  Do you think they drink a toast to us in crystal and have a good laugh then throw the glasses in the fireplace?

They have a long straw so they can suck deep.  With the corporations all offshore; what do they care about the U.S.?

By Zachary A. Goldfarb, in the Washington Post this morning:
“The insurance giant American International Group, meanwhile reported a $24.5 billion quarterly loss yesterday as the government agreed to offer it a more generous lifeline in the form of a new, $152 billion loan on easier terms. The government extended an $85 billion loan to AIG in September, followed by $38 billion more in October, but the company has been eating away at it at an accelerating pace.”

Everybody has heard the old saw: “you shall know the truth and the truth shall make you free”. Well in this case, when it comes to the evil that is known as corporate economics, how much of the truth you know, is how much of the pain you can bear. This is the greatest robbery in the history of the world.

By Maani, November 10 at 6:56 pm

Damn! Piranha to bloody meat. Or, they want a piece of the pie.

Yo!  Check this out!!

http://money.cnn.com/2008/11/10/news/companies/amex/index.htm?postversion=2008111019

Strange, I don’t see this going back far enough to include the secret Jekkyl Island meeting of a bunch of alias elite that gathered there to draft the federal reserve act, then the subsequent voting on the bill WHEN most of congress had left congress for christmas ensuring passage, then woody the woodpecker wilson signing it into law and his not too later lament that it was not a good law for our country(or something of that nature)and supposedly regretted signing it. Also during woody’s tenure was his buddy Col. House and others forming the Council of Foreign Relations. None of this was good for our country and I am sure all of it was part of the beginning of what has happened to our economic system when it is allowed to be unfettered for the benefit of rich people that just happened to contain a large part of the greed, deviousness, wickedness, criminality and no loyalty to the United States of America for the sake of their personal, financial and control over this country. As one of them said something like this: ‘give me control of the money and I care not who makes the laws’.
And from what I have surmised, that it would even go back further, I just have not read that part of the history. So, I can only come to the conclusion that when it involves unrestricted control of money and the ‘elite’, the criminal mind and deeds sure come forth. So add that to the timeline.

Now the Fed is being sued by Bloomberg News in an FOIA because it won’t release the recipients of more than two trillion dollars in loans.

Just saw on today´s program at http://www.democracynow.org that there may be a secretive, possibly, illegal 140B windfall for the banks. Sounds like socialism for the rich.

Just saw on today´s program at http://www.democracynow.org that there may be a secretive, possibly, illegal 140B windfall for the banks.

Sounds like socialism for the rich as remarked last week on the Bill Moyer´s Report.

I think it was Friday, nobel Prize winner Paul Krugman was on Larry King. They talked about the collapse.

According to Krugman, the bailout is not going to fix things, it’s not going to make the economy good again, it’s only going to try and keep things from becoming much, much worse.

There are still about 10 years to go before the economy stablizes, we’ll have plenty of time of time to talk about this in the future, if we survive.

A very good time line, but unfortunately, this has not stopped. Check out “A Quiet Windfall For U.S. Banks” by Amit R. Paley in The Washington Post. The dummy corporation shell game has returned, and no one seemed to notice. Congress was much too busy being patriotic by saving our beloved mega banks.
It wasn’t that long ago that Senator McCain and his Alaska sidekick were screaming that Obama was a socialist. In Amit Paley’s article he states: “Some conservative economists argue that not only should a firm be able to use losses to offset gains, but that in a year when a company only loses money, it should be entitled to a cash refund from the government.”