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Old 10-05-2008, 08:15 PM
NotThe1 NotThe1 is offline
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Posts: 252
Default "Wall Street Socialists"


The financial crisis gripping the U.S. has the largest banks and insurance companies begging for massive government bailouts. The banking, investment, finance and insurance industries, long the foes of taxation, now need money from working-class taxpayers to stay alive. Taxpayers should be in the driver’s seat now. Instead, decisions that will cost people for decades are being made behind closed doors, by the wealthy, by the regulators and by those they have failed to regulate.

Tuesday, the Federal Reserve and the U.S. Treasury Department agreed to a massive, $85-billion bailout of AIG, the insurance giant. This follows the abrupt bankruptcy of Lehman Brothers, the 158-year-old investment bank; the distressed sale of Merrill Lynch to Bank of America; the bailout of both Fannie Mae and Freddie Mac; the collapse of retail bank IndyMac; and the federally guaranteed buyout of Bear Stearns by JPMorgan Chase. AIG was deemed “too big to fail,” with 103,000 employees and more than $1 trillion in assets. According to regulators, an unruly collapse could cause global financial turmoil. U.S. taxpayers now own close to 80 percent of AIG, so the orderly sale of AIG will allow the taxpayers to recoup their money, the theory goes.

It’s not so easy.
The Movement: "Wall Street Socialists"

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Old 10-05-2008, 10:56 PM
BlueAngel BlueAngel is offline
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Join Date: May 2007
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Default Re: "Wall Street Socialists"

Quote:
Originally Posted by NotThe1 View Post
The financial crisis gripping the U.S. has the largest banks and insurance companies begging for massive government bailouts. The banking, investment, finance and insurance industries, long the foes of taxation, now need money from working-class taxpayers to stay alive. Taxpayers should be in the driver’s seat now. Instead, decisions that will cost people for decades are being made behind closed doors, by the wealthy, by the regulators and by those they have failed to regulate.

Tuesday, the Federal Reserve and the U.S. Treasury Department agreed to a massive, $85-billion bailout of AIG, the insurance giant. This follows the abrupt bankruptcy of Lehman Brothers, the 158-year-old investment bank; the distressed sale of Merrill Lynch to Bank of America; the bailout of both Fannie Mae and Freddie Mac; the collapse of retail bank IndyMac; and the federally guaranteed buyout of Bear Stearns by JPMorgan Chase. AIG was deemed “too big to fail,” with 103,000 employees and more than $1 trillion in assets. According to regulators, an unruly collapse could cause global financial turmoil. U.S. taxpayers now own close to 80 percent of AIG, so the orderly sale of AIG will allow the taxpayers to recoup their money, the theory goes.

It’s not so easy.
The Movement: "Wall Street Socialists"
The only way they can finance the war, the financial crisis, etc., is to print money out of thin air.

The taxpayer's certainly don't stand in line and fork over greenbacks until the banksters have amassed the amount of money THEY need to fund their PROJECTS such as war and the bail-out.

They can print as much money as they need to fund their projects.

Ain't no sweat off of their backs.

They own the printing presses.

It's a dog and pony show when they apply to Congress for money to fund their projects.

Congress has no power over the money supply.

Woodrow Wilson relinquished the power of Congress to print and coin money decades ago.

Since most of our politicians have been blackmailed and placed in Congress to serve the Banksters and appear, for all intents and purpose to serve the people, which they do not, they vote as the Bankster's desire.

It's all an illusion as far as the debt that is passed on to the American people.

Sure, we pay taxes, but that will always be.

They're not going to print money of out thin air to run this country and assist us with our needs.

That's why we always fall short.

Our tax dollars do not cover all that is needed to fix all that is broken.

However, they have no problem with printing money out of thin air to fund their projects.

Those projects that, most times, the the American people are opposed to because they believe it is coming out of their pockets.

Such as the war and the bail-out.

As far as tax increases to finance the war, please provide that information.

Thank you.

Last edited by BlueAngel : 10-05-2008 at 11:52 PM.
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