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 | Big banks fleecing local governments is a growth industry today. Matt Taibbi discusses how the big money changers get away with robbing people through their local government. Taibbi starts at the 11 minute mark of the video. If you want to read the entire story and more, go here. Please note at the end of the video that the only [...] Portland OR – April 11, 2009 – Click for more info NATIONALIZE: Experts agree on the means — Insolvent banks that are too big to fail must incur a temporary FDIC intervention – no more blank check taxpayer handouts. (see Krugman on nationalization) REORGANIZE: Current CEOs and board members must be removed and bonuses wiped out. The financial elite must share in [...] Cenk Uygur over at Huffpo sent me this story link this morning. If you want to understand what is really going on re: the banking/wall street fiasco, read this article. Here is an excerpt: The latest bailout came as AIG admitted to having just posted the largest quarterly loss in American corporate history — some $61.7 billion. In the final three months [...] Image via Wikipedia Cenk Uygur has a post over at Huffpo that nails down the real issue with CNBC that Jon Stewart so skillfully mocks in the video contained in the post immediately below this one: I have a close friend who works at a business news station — and here is the worst kept secret in show business — it’s all [...] So says our Representative Brian Baird and I quote him from a link to a story in my earlier article: Baird said the legislation also will prevent executives who presided over the financial crisis from reaping huge salaries and bonuses. “Any company that chooses to participate in the program will not be able to offer their departing executives exorbitant severance packages,” [...] I just got my Fidelity IRA statement and don’t have the guts to open it. So far this morning, the Dow has fallen almost 360, with many wondering if it will lose 1,100 before 2pm triggering a suspension of trading. Something has to be done to quell fears of a national/international recession bordering on depression. Yes, emotion is driving the market, but their [...] |      | ||||
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