Zero Hedge brings us commentary on William Black’s interview with PBS. Take note, this is important. The ever insightful William Black sits down with PBS’ Paul Solman to note that most of the too big to fail banks are currently insolvent, that mortgage fraud is pervasive and lender complicit, and that unlike in previous...
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Posts Tagged ‘ bailout ’
Recurrent Crises Will Get Bigger And More Disastrous
Bloomberg: Secret Banking Cabal Emerges
Bloomberg’s David Reilly reports: Jan. 29 (Bloomberg) — The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks...
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CBO: Stimulus Bill to Cost $75 Billion More Than Expected
Mao be praised. Fox News reports: The $787 billion federal stimulus package that Congress passed last year has gotten even bigger — now expected to cost $862 billion, over the next 10 years, according to the Congressional Budget Office. The nonpartisan CBO report, published Tuesday, attributes the $75 billion increase to added unemployment-related costs....
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Wall Street Bonuses Total 1% Of GDP
This post on the Democratic Underground highlights the point: “Our total GDP for the nation is about $14 trillion. 2009 bonuses are around $140 billion. So, 1% of our total economic output for 2009 is going to the banking mafia’s pockets. Not even the banks themselves – JUST THE BANKERS. Just amazing.” Major U.S....
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Fannie and Freddie Declare Epic Looting Spree
The US Treasury has declared the bailout caps for Fannie and Freddie will be raised to “unlimited”. Hence, you will be paying unlimited bailout money to the banks by way of men showing up to your door with guns in your face looting you for half your paycheck. Which will then be deposited into...
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John McCain (F) AZ: I Stand In Gods Way Every Day
Sen. John McCain (Fascist) of Arizona released new agitprop for his campaign today. CBS News reports: Sen. John McCain (R-Ariz.) is up with his first ads for his 2010 Senate reelection campaign, and they portray the 2008 Republican presidential nominee as a crucial impediment to President Obama’s “extreme left-wing crusade to bankrupt America.” “I...
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