March 15th-March 21st 2008
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The Biggest Cash Scam in World History.


bear_sterns_window.

As this quote from Fortune magazine suggests, what Bush and the Fed are doing to so-called "help," the economy is more for the sake of Wall Street bankers and brokers and doesn't offer jobs, work and industry.

In fact, the action this week of the Fed providing money to Bear Sterns, using the collateral of bad loans on houses going into foreclosure maybe prove to be the absolute biggest theft of money in world history: $200 billion dollars to the "big boys," while the "regular citizen" waits for his or her $300.00 tax rebate in the mail.

It's clear: The government cares more about the banks and big business than about what's good for the average person and what's good for the country.

This nation was not set up to save banks when they make bad loans.

Think about what this dramatic bailout of banks clearly shows about who is getting special treatment, all the time, in every way possible: taxes, grants, subsidies, incentives, etc. It's always the lobbyist, banks and Big Business and it has to stop.

 

BACKGROUND EXPLAINATION FROM FORTUNE MAGAZINE:

How a Bailout of Banks Who Made Bad Loans Hurts the Economy.

NEW YORK (Fortune) -- The government is showing considerable ingenuity in devising new tactics to fight the credit crunch. But some observers fear that the innovations risk making matters worse - by fueling inflation and insulating executives who made reckless bets from the full wrath of the market.
The Federal Reserve set off a ferocious stock market rally Tuesday with its plan to lend banks as much as $200 billion over 28 days later this month. The plan sent shares of hard-hit lenders such as Fannie Mae, Freddie Mac and Washington Mutual soaring, because the Fed will allow borrowers to use privately issued mortgage-backed securities as collateral. Investors have fled those securities because they see a rising risk that mortgage bonds will become impaired as housing prices slide and defaults tick higher.

Our Comment: But this skyrocket rise in stock prices was a ONE DAY WONDER.Later all these stocks hit new lows.
And most people care about jobs and wages anyhow, not stocks.

The Feds solutions are not working, except for the benefit of the few.

More >>
Fat Cats Cashed Out at the Top



 
     
     
     

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