"Words that make actions speak louder."
So much for the $700 billion bailout of Wall Street. Stocks are tanking across the world. Clearly, once the bailout passed, investors took a good look at the real economy and dove for the mattresses. We’re headed into a great reckoning. And at the heart of that, as argued in our new op-ad in the […]
The Senate voted overwhelmingly to pass a bad bailout bill last night. Nothing to kick-start the real economy, except tax breaks for business. No help for homeowners.. No mandate for taxpayers to get shares in the banks that are bailed out. Virtual unchecked discretion for the Treasury Secretary to dispense $700 billion. It’s a good […]
On September 29, Congress revolted against the $700 billion price tag of the proposed bailout of Wall Street. The day before, that same Congress passed without murmur—unanimously in the Senate—a $700 billion budget for the Pentagon in 2009. The worst financial crisis since the Great Depression has shattered the conservative illusions about deregulation and market […]
The fix was in. The leadership of both parties in Congress, both major presidential candidates, media poobahs, financial statesmen from Warren Buffett to Bob Rubin, all weighing in to support giving Treasury Secretary Henry Paulson a $700 billion revolving fund to bail out Wall Street. And then Americans said, “stuff it.” The bill was incredibly […]
The following is the text of the “agreement on principles” that blew up yesterday at the White House, as House Republican leader John Boehner blindsided negotiators by saying Republicans wouldn’t support the deal. Sen. John McCain who had arranged the photo op refused to state where he stood. The text —like Treasury Secretary Paulson’s original […]
Get ready for the steamroller on the $700 billion bailout of Wall Street. Tuesday was the time for throat clearing. It started to get out of hand. Opposition to the plan grew through Wednesday morning. Then… 1. Warren Buffett, the Oracle of Omaha and the biggest billionaire of them all, bought into Goldman Sachs, betting […]
It’s gut check time. The attempt by Treasury Secretary Paulson to put a gun to the head of Congress and terrify them into forking over a $700 billion blank check to the Bush administration in 48 hours has failed. Now what? Most Americans would just as soon the Masters of the Universe were allowed to […]
How did it come to this? The banksters issue a threat: Hand over $700 billion in taxpayers’ money–on top of the $600 billion already forked over–or we’ll take down the global economy. There will be a lot of obfuscation—fingers pointing every which way—but the story is very clear. The immediate cause is the inflating and […]
Call it extortion. Every American is told to ante up $2,000—an estimated $700 billion in all—to bail out the banks from their bad bets, or they’ll bring down the entire economy. In a speculative frenzy that allowed the Masters of the Universe to pocket millions personally, the banks filled their coffers with toxic paper that […]
When Sen. Barack Obama receives the Democratic presidential nomination before 75,000 people in Denver’s Mile High Stadium on the 45th anniversary of Martin Luther King Jr.’s “I Have a Dream” speech, new possibilities will be born. Obama may not be a “movement” progressive in the way that Reagan was a “movement” conservative, and he may […]