"This is Class Warfare", Americans Can’t Trust Their Government at All
Source: LiberalPro.blogspot, 02-10-2008
Economist Dean Baker shares his thoughts on the bailout panic during a public panel held at the Institute for Policy Studies on Sept 30, 2008. Dr. Baker is the Co-Director of the Center for Economic and Policy Research in Washington, DC and a columnist for The Washington Post and Atlantic Monthly.
This evening the Senators walked out after passing the bailout 75 to 25 and slapped each other on the back for "working together in the manner that the founding fathers would want us to work in, with partisanship aside to work in the American peoples best interests." I'm paraphrasing Senator Chris Dodd who had only kind words for the Republicans that helped the Senate to pass the bailout, virtually unchanged from the House version. The Bill will now head back to the House for another vote, now that the Senate has put its stamp of approval on it.
Meanwhile, the people of the United States want to know one thing and one thing only. Is helping out the same parties that led us to the brink of bankruptcy really in the people's best interests? The President has said from his bully pulpit that he believes that this bailout is vitally important to prevent the collapse of the economy. This is the same man that told us that Saddam Hussein had weapons of mass destruction and that he could possibly launch an attack against this nation. We found out not too much later, after the Congress gave him the Authorization for the Use of Force that he did not. The mission was then changed to that of bringing democracy to the Iraqi people. The facts are, with 1.2 million Iraqi citizen's dead and over 2 million displaced to live as refugees in other Middle Eastern countries, with another 2 million displaced inside of Iraq, and over 600 billion dollars spent, the same amount as this bailout, people can't agree if we won the war or not. Now we are supposed to take this man's word that Wall Street needs the taxpayer's money to right the wrongs this government has let them get away with.
It was explained to me that we will pay interest on the money that the banks lend us so that we can...bail out the banks. This is some sweet racket that the bankers have. They are in a win-win situation, providing the bailout is passed. The American people buy the banking industries debt so that they can lend each other money again and become profitable. This amounts to economic socialism when it comes to debt, but capitalism when it comes to profits. We are threatened with pension plans going bust if we don't approve of our lawmakers using our money to pay for Wall Streets mistakes. These are the same Congressmen that have been using the same bankers and financial institutions to pay for their political campaigns. Meanwhile the House members that voted for the bailout that failed to pass the lower House are found out to have had 51% more campaign donations from those financial institutions that would benefit from the bailout than those that voted against it. http://www.opensecrets.org/news/2008/09/finance-sector-gave-50-percent.html
The Primary Owners of the Federal Reserve Bank Are:
1. Rothschild's of London and Berlin
2. Lazard Brothers of Paris
3. 'Israel' Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
So who do we trust? Goldman-Sacks turns out to be Barack Obama's biggest corporate political donor. Both the Democratic nominee and the Republican Presidential nominee support the bailout. This comes as the American people have been taking a good look at who supports the campaigns of these politicians, even before this crisis developed.
Economist Dean Baker shares his thoughts on the bailout panic during a public panel held at the Institute for Policy Studies on Sept 30, 2008. Dr. Baker is the Co-Director of the Center for Economic and Policy Research in Washington, DC and a columnist for The Washington Post and Atlantic Monthly.
This evening the Senators walked out after passing the bailout 75 to 25 and slapped each other on the back for "working together in the manner that the founding fathers would want us to work in, with partisanship aside to work in the American peoples best interests." I'm paraphrasing Senator Chris Dodd who had only kind words for the Republicans that helped the Senate to pass the bailout, virtually unchanged from the House version. The Bill will now head back to the House for another vote, now that the Senate has put its stamp of approval on it.
Meanwhile, the people of the United States want to know one thing and one thing only. Is helping out the same parties that led us to the brink of bankruptcy really in the people's best interests? The President has said from his bully pulpit that he believes that this bailout is vitally important to prevent the collapse of the economy. This is the same man that told us that Saddam Hussein had weapons of mass destruction and that he could possibly launch an attack against this nation. We found out not too much later, after the Congress gave him the Authorization for the Use of Force that he did not. The mission was then changed to that of bringing democracy to the Iraqi people. The facts are, with 1.2 million Iraqi citizen's dead and over 2 million displaced to live as refugees in other Middle Eastern countries, with another 2 million displaced inside of Iraq, and over 600 billion dollars spent, the same amount as this bailout, people can't agree if we won the war or not. Now we are supposed to take this man's word that Wall Street needs the taxpayer's money to right the wrongs this government has let them get away with.
It was explained to me that we will pay interest on the money that the banks lend us so that we can...bail out the banks. This is some sweet racket that the bankers have. They are in a win-win situation, providing the bailout is passed. The American people buy the banking industries debt so that they can lend each other money again and become profitable. This amounts to economic socialism when it comes to debt, but capitalism when it comes to profits. We are threatened with pension plans going bust if we don't approve of our lawmakers using our money to pay for Wall Streets mistakes. These are the same Congressmen that have been using the same bankers and financial institutions to pay for their political campaigns. Meanwhile the House members that voted for the bailout that failed to pass the lower House are found out to have had 51% more campaign donations from those financial institutions that would benefit from the bailout than those that voted against it. http://www.opensecrets.org/news/2008/09/finance-sector-gave-50-percent.html
The Primary Owners of the Federal Reserve Bank Are:
1. Rothschild's of London and Berlin
2. Lazard Brothers of Paris
3. 'Israel' Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
So who do we trust? Goldman-Sacks turns out to be Barack Obama's biggest corporate political donor. Both the Democratic nominee and the Republican Presidential nominee support the bailout. This comes as the American people have been taking a good look at who supports the campaigns of these politicians, even before this crisis developed.
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