Plethora of Informative Articles About Ill-Considered, Terrible Wall Street Perp Bailout Bill

For those who want more information about this terrible Senate bailout now going to the House; a bailout that rewards the Wall Street perps with $810 billion and flys the middle finger at the American taxpayers, Cursor.org has a cornucopia of articles listed below that offer insight into a Senate in the grip of Wall Street, the hell with the people. 
 
However, its no surprise coming from a spineless, so called Democratic leadership bowing to their Republican colleagues, this criminal administration, and their Wall Street contributors who caused and and benefitted from this deregulatory financial disaster.  It's the millionaire 100 club on Capitol Hill showing its true colors...government of, by and for the plutocrats.
 
"The U.S. Senate passed an $810 billion bailout bill, that "does little to avert the defaults and foreclosures that are pushing house values ever downward," and barely addresses the "underlying problem of bad debt."

"While the bill was loaded with "obscure" tax breaks, including one described as 'an Alaska-friendly earmark,' the Senate rejected a 'millionaire tax amendment' by Sen.Bernie Sanders, on an anonymous voice vote.

"Possibly sensing 'The bailout's power vacuum,' Sen. Obama was seen as "actively whipping" the bill, while trying to reach across the aisle, as it's noted "how quickly the nation's news services have adopted the interventionists' packaging of 'rescue' over 'bailout.'"

"With 'Hedge fund implosions starting,' an SEC Inspector General's report finds that an 'SEC program failed to rein in investment banks,' but 'The GOP blames the victim.'

"David Cay Johnston calls "borrowing more money to pay off badly borrowed money ... a bizarre policy," and with 'Politicians' phones ringing off hook on bailout,' Robert Reich predicts that "angry populism is about to explode." Plus: 'Wall Street's comeback as the place Americans love to hate.'

Posted by Kaz at 10/2/2008 5:19 PM
Categories: Economy
 

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