DISQUS

AMERICAblog: Taxpayer risk for Freddie and Fannie?

  • voxpopgirl · 1 year ago
    there's a livestream of Howard Dean at Netroots Nation (re-named from yearlyKos) right now at Ustream.tv

    Wesley Clark is opening right now:

    here's the direct link to watch and live chat as well:

    HOWARD DEAN LIVE SPEECH here
    DIRECT LINK: http://www.ustream.tv/channel/exhibit-hall-4

    Spread the word :-)
  • mirth · 1 year ago
    Thanks SO much for the link.
  • Bush_Bites · 1 year ago
    Missed Wes Clark, but Howard was great.
  • Bubbles · 1 year ago
    This economy is unraveling. Currently its being held together by spit and chewing gum. The more we borrow to cover up for our failed institutions, the less our currency is worth, the more we have to borrow. Meanwhile the price of oil goes up pushing further pressure on the economy.

    This administration has navigated it's way into a trap. It has to keep on borrowing to fund Iraq and massive tax cuts for the rich and now, to under right failed institutions. Once upon a time, demand in the economy was sustained by cheap money from china funneled into lowering home mortgages, releasing some purchasing power. When that string was run out, there was second, flexible and subprime mortgages. Now all that's gone and the dominoes are beginning to tumble. The massive deficits have pushed the dollar down.

    Now were in a real fix. The higher the price of gas goes, the more pressure on the economy, the more pressure on the institutions, the more the need to borrow more money to butress the institutions, the lower the dollar, the higher the price of gas. Increasingly, things are going to get ugly.

    This is going to get real ugly. The glass isn't half full, it isn't half empty, what we are looking at is the tip of an iceberg. We are about to get a mass education in civics - they are going to learn that gay marriage is a non-issue the hard way (no pun intended). It's going to get ugly.

    I know what George Bush is saying or thinking. Yes, collapse is supposed to happen - but it wasn't supposed to happen until after January 2009, when his watch was over. Things have moved along a little faster then they were supposed to.

    The first decade of the new millenium was a dark, lost decade. The second will be a dark one as well, in which the dominant theme will be recovery.
  • Andrew · 1 year ago
    While both Paulson and Bernanke have been psuhing this bailout of Fannie and Freddie at tax payer expense, just about the only thing the Republicans seem to have right is in expressing their dissatisfaction with that move. During the hearings that were held a couple of days ago with Senator Dodds banking committee, Jim Bunning from Kentucky asked a pointed question of Paulson and asked just where is all this money going to come from. Paulson hesitated and then coughed up the answer. Government. Bunning again admonished Paulson and asked and just who is the government. Paulson replied, the tax payer.
    I have personally written to every member on that panel and voiced my opinion that a bail out of these entities should not be a burden for the tax payer. These great minds on Wall Street screwed themselves, and they should be the ones to pay for it. If anyone was whining as per Phil Gramm, it was the fat cats on Wall Street looking to have someone else clean up their mess. Hopefully many of you may decide to express those same views to your elected representatives, because there is going to be a vote by next week before Congress leaves for its summer recess.
  • tbhull · 1 year ago
    DC and our financial system, if propped up only by the constant cash flow of working calss/middle class tax dollars remedying failure and protecting rich folk's deposits, need to fail. Everyone should strike for a few weeks or months and cut off the flow of employment tax dollars flowing into DC. The alternative is to remain a slave to DC and the elite interests it protects everty day in every way on the back of the labor and meaningless perpetual toil of their slaves.
  • BLOGGING BITCH! · 1 year ago
    Sounds like a good way to strap a shitload of debt to the Dems for the next few years. Can we expect the wars to remain off-budget?


    Paulson needs to tell us about how awash the banks are with cash....then he can tell us how wage stagnation makes people more eligible for loan approval.

    Dems will cave again though.
  • Andrew · 1 year ago
    Good points Bubbles. Perhaps Gores speech on energy today was the rallying call for what I have asked for over the last year. We need a Manhattan project on alternative energy and Gore hit all the right notes. Rather than spending billions are a never ending war, those fund should be put to better use so that we can attain the goal of energy independence within 10 years. It can be done.
  • BLOGGING BITCH! · 1 year ago
    Paulson could always elaborate on this a little bit:

    http://www.rawstory.com/showarticle.php?src=htt...

    Loyalists all around and Dems just play along.
  • BLOGGING BITCH! · 1 year ago
    Speaking of property, Mr. Paulson:

    http://www.whitehouse.gov/news/releases/2007/07...


    .
  • BLOGGING BITCH! · 1 year ago
    HOLY SHIT!!!

    I just found something online that is supposed to be "Executive Privilege" !!!

    http://www.iwar.org.uk/sigint/resources/nationa...


    Tell your friends..........after all, that left-wing media is a conspiracy.
  • Bush_Bites · 1 year ago
    Larry Craig says:

    "Don't let them jerk us around by the gas nozzle."

    http://www.crooksandliars.com/2008/07/17/sen-la...
  • jr · 1 year ago
    borrow and bail out repubs
  • unrepentant_expat · 1 year ago
  • unrepentant_expat · 1 year ago
  • unrepentant_expat · 1 year ago
  • unrepentant_expat · 1 year ago
  • unrepentant_expat · 1 year ago
  • Ben Dover · 1 year ago
    We have to bail out the BigAmericorpsBankInc.! We don't want them to become despondent and start throwing themselves from tall buildings or anything like that, now do we?

    Well? Do we?
  • Forty2 · 1 year ago
    Privatize profit, socialize loss. Same ol' shit.