Once in a century rip-off
- added September 26, 2008
- 9 responses
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- Vierotchka
- added this
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Bailout talks stall as Bush meets with Congressional leaders and Presidential candidates. German Finance Minister says US will no longer be the financial Superpower. French President Sarkozy says the days when "the all powerful market is always right are over". The Real News Network spoke to economist and historian Dr. Michael Hudson who says that it's not a "bailout" but a "giveaway" and will create a new kleptocracy of billionaires.
Dr. Michael Hudson is a Wall Street financial analyst and historian. Dr. Hudson was Dennis Kucinich’s Chief Economic Advisor in the recent Democratic primary presidential campaign, and has advised the U.S., Canadian, Mexican and Latvian governments, as well as the United Nations Institute for Training and Research (UNITAR). A Distinguished Research Professor at University of Missouri, Kansas City, he is the author of many books, including Super Imperialism: The Economic Strategy of American Empire and of Super-Imperialism and of The Myth of Aid .
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- Vierotchka
- 1 month ago
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This was planned as was our first major depression.
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Check this out....
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Once again, the Real News is one of the very best resources for cutting through the deceit and puppetry forced upon us by most other major news outlets.
(Marcy rocks!) -
The fact that our government would do this to us to line their and their friends pockets really makes my stomach hurt. I have been contiplating moving out of the country and every month the feeling gets stronger.
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The headline on this story is a great characterization of the crisis; a big rip off.
The Ripusofagains are up to the same old tricks.
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This is one of the most accurate reports on the bailout I have seen so far. Hopefully more people realize we should not blindly accept that we need a bailout. Question everything!
The Real News is, in my opinion, currently one of the last authentic sources of news available. They do a great job reporting news around the world.
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Couldn't agree more -- except about the timeline. Remember the Savings & Loan bailout only 20-some years ago?
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- dkincheloe
- 1 month ago
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The gov. could pay off EVERY mortgage in America for roughly the same price, increasing long term spending power of "main street" Americans, with a guarantee that $ will go back into the system.
But that won't help the top 5% so it won't happen.
Great story.
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It is amazing how the top money men keep finding ways of increasing their assets at the expense of others.
What comes next to beat this sting must be truly amazing as this scam tops everything to date
If the worst comes to the worst the plebs can build another Hoover dam somewhere and let the heirarchy gain the profits it derives
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- themanwithadog
- 1 month ago
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