Oh, OK. Use the 'people's' money to bail out other people. Makes sense.

yes, and don't forget that the banks can resell the properties after they're foreclosed - so it's a win-win racket for them - selling mortgages that the "owners" end up paying 5 or 6 times the (already inflated) "value" of the property to the banks and then they can take back the property and re-sell it, again and again and again.

not to mention that Goldman Sachs was not only advising their rubes/'investors" to take long positions on CDOs while they were themselves taking short positions.

Yes! Seize all bank assets!

that's like betting on a game of russian roulette - even if you "win" you still end up losing

what do you think your money is going to be "worth" when the federal government declares insolvency?

point taken

Voted up !

BAC stock has gone up every single day since he made that statement. The US goverment saved GM, you think they are going to let BAC go away? BAC just announced they are raising their dividend. If he thinks he has anything, bring it, what's he waiting for. Buy BAC stock, it's up $3 this month.

the US government and the UAW are now working together to force union workers to take wage cuts and to institute "two tiered" wage systems under which all new hires max out at about 15$/hr.

the partnershp between government, corporations and unions was first tried under Benito Mussolini and was called "fascism"

it was a disaster for working people then, and remains so today.

only if we don't hit the streets and tear down their bastilles

funny isn't it how the "two" parties which gave us this whole "gridlock" story when it was time for Obama to deliver on his promises of "single payer" health care - but they can suddenly drop all pretense of "differences" to unite in order to save themselves (you know how much Pelosi's pearls cost?) and their bankster political financiers.

Sorry, they already got the nickle, the dime, the quarter, the half dollar, dollar and a bunch more!

That sounds nice but your morals won't let you do it.

you never know... hehehehehe.... i might turn to the dark side... =D

Actually, what you do is buy insurance from AIG betting that your bank will fail, then when it does as a result to making bad loans to family and friends you can get bailed out and collect insurance - which is also bail out money.

you ain't got the connections

maybe if you made a lot of political donations at those 60000$/plate dinners

lol.. don't ASSume... I have connections in the banking sector, hedge fund and real estate. If i had the millions needed, i wouldn't have a problem opening a bank.

Also, getting the bail out wouldn't be hard either, specially since my friend/attorney is a bank owner himself... connections are the least of my worries...

just because you might have a bank don't mean you'd get the loot

it seems to be more a case of "coordinated consolidation" - look at Bear Stearns - they were no less worthy of a "bailout" than any of these other corporate behemoths - but somehow they didn't have a history of interlocking relations with the Dept of Treasury, unlike Goldman-Sachs which made out like (pardon the expression - no, heck don't pardon it!) "bandits"!

So does Communism.

perhaps. a little. for a time

corporatism IS cancer so +^d

someone should REALLY try that some time. I'm in. ( at least for a trial run,.....I do want the TRUE democracy that is supposed to go with it. )

Euro-socialism certainly has merits. +^d

It works rather well, and has for hundreds of years in the Pennsylvania Amish Communities.

I'd like to see an example of where Capitalism has worked.

It's corruption!

corporatism is capitalism on "full auto"

Where?

Wasn't it the government that artificially lowered interest rates and imposed policies that demanded lending to many who could not afford it?

Even Keynesian economists acknowledge the govt's role in the housing bubble and bust.

I believe it was the Fed that lowered interest rates, and they have always been confused with the federal government. But they are not, they are a bunch of bankers.

The government has no control over the Interest rates. The FED sets the Interest rate.

You are correct. The Fed is nothing more than a publicly created cartel of private banking interests. Since the creation of the Fed in 1913, the purchasing power of the dollar has been devalued by 95%. Not a great track record.

Unfortunately, nearly all Congresscritters defend the Fed, and few have the guts to challenge Bernanke and Co., let alone demand accountability via an audit.

These bankers are at the top of the ELITE chart, at their disposal they have a closet full of henchmen that can destroy anyone who gets in their way. The only way, and I have said this time and time again, to destroy this EVIL, is by force!

No, it isn't. Force is the resort of people who can not use their brains. How about we run on the banks? What if we refuse to use Dollars? What if we stop going to work and go on a general strike? Every one of those options would work.

So be it! Make it happen, I'm waiting!

If you were to try these methods,which would directly impact the elites profit and control and they will shoot you down in the streets! The only way to beat them is by force and to kill each and every one of them, and their political lackies!

Kenny we agree again! LOL this is becoming a habit!

Hell has frozen over, my friend!

Nicely said, my brother!

The only thing on that list I still do is use Dollars...join me on the Dark Side!...:-P

I won't be the one to instigate violence. But if they shoot at me and my family for trying to get out ourselves free from slavery to the banking masters, then it. will. be. ON! I use Total War tactics. This is why I abhor war...because if it is war..it is Total War5. (look up the tactic)

LOL Kenny it has indeed!

Hammy, Hammy I'm already there! Undercover you see!

Excellent, another soldier! I may not have the Knowledge to take on the bankers at their own game, but I have forgotten more than you will ever learn about the art of WAR!

Chilly, don't you think? Cool.........

I will my friend! I have drug it to the side and will check it out!

Thank you hammywill for posting that link my friend a great blog indeed and I subscribed right away! Power to the People was once misused by the left now it must be our battle cry! It is the duty of every patriotic American to rise up against the liberal nanny state and return this country to the rule of the governed with the Constitution as our guide! Our government, which has stolen power from the people and has ceased to represent our best interests,must be replaced with one that does,before it is too late! Democrat or Republican doesn't matter anymore,both are basically the same,both have robbed us of our rights! Both have given power over to the elite,who have no sense of country or honor!

My friend you aren't the only one with the knowledge of war and it is well past time to rise up and take our country back! Power must always rest with the governed,by and for the people,not the elite,who have no honor and no loyalty to the principles upon which this nation was founded! It is our duty,and our obligation,to do so!

Nice too hear that soldier, they are constantly dividing us. Can you imagine the heads must be spinning when they see we are seeing through the bullshit. Did you see the movie Matewine, I think that's how it's spelled. This is not the first time a gilded age has arose from the abuses of Capitalism.

It is people like this who brought on the great depression and history repeats because the elite doesn't care about anything but profit for themselves! I've said many times unless we all throw off the bullshit and unite we can't win!

corporate america without its greed is like a shark that only eats tofu

it's a nice fantasy (for surfers especially) but in the real world, corporatism and greed are like salt and pepper - they just seem to go together

As in, like, jams and pickles?

but his friends needed the money. they have jets to buy fuel for ya know. oh lets not forget about the house in spain and the house in vail and the house in france they have to pay for the upkeep on. Ya know it's hard being rich in this day and age. Not that I would know anything about that but i do read about how hard the rich folks are haveing right now.

No need to even rob your own bank when you can just get your friends at the Federal Reserve to just print a few billion dollars for you.

It's more fun to wear a mask and have a gun.

I always wondered what you did for work.

WORK! How dare you use such language with me Next you will say I need a job or some shit like that.

Haha, sorry. I've been trying not to use so many of them bad 4 letter words.

-William K Black

no problem this time but if it happens again I will come to your house and steal all your peanut butter.

Inflation is a monetary phenomenon, created by govt printing of money backed by nothing of intrinsic value. If left to its own devices, prices in the market economy would gradually lower over time.

We will end up in a depression anyway.

Maybe there is still hope. the economy has leveled off and actually started to slowly inch in the right direction. If the republicans get their way though its all over you can bet on that. trickle down economics, bah how dumb can someone be!

lol end up? we're there in certain parts of the country my friend.

Oh I know, I live in California...lol..

The United States does not produce anything. The economy is not leveling off, the only sector gaining is the financial service sector. These people are making RECORD profits. While inflation continues to FAR outpace wage increases. This country is going nowhere but downhill. There is no other possible outcome.

Don't forget trickle down economics has also been instituted by THIS administration and Congress for the last two years.

You make good points all around, we do need to shore up our industrial sector, hence the automotive bail out, and we could do more to boost manufacturing in our own nation with basic tarifs that would make our government money and help our own industry, and whatever trickle down this administration has done was done at the behest of the republicans, and then bitched about by republicans a week later, that does not mean that this administrations handling of the recession is perfect, but I do feel it could be doing a better job if the right would cooperate instead of just screaming loudly and doing little more.

Funny, the ONE American automotive company who is doing well right now did not receive any bailout money. Also, the Auto bailout only came after a restructuring of UAW contracts. I did not see the same stipulations in regards to Executive bonuses before the banks received THEIR bailouts.

It is easy to blame the right, because they are openly in favor of making Americans into Serfs. But the Democrats have had control of the House, Senate and White House for the last two years. There is no reason they could not have gotten through EVERYTHING they wanted. None, not one reason.

except for the constant threat and use of filibusters you mean?

and i do see what you are saying it seems the bailout didn't help that much but we had to something or thousands of jobs were going to be lost.

Except that you do not need a quorum to change procedural rules and get rid of the filibuster. Which is exactly what they are considering in the Senate right now. Although that is a political move to make themselves look better because no matter what happens in the next Senate, the Republicans will have control of the House. So the Senate can end the Filibuster but they know for a fact it will have no other impact other than to garner some political points.

This is why I am cynical towards both parties. They have never done anything that resulted in a benefit for me, a working class citizen.

The sad thing is, I see those jobs being lost. And now, thanks to things like NAFTA (a Democratic Party treaty incidentally) there is nothing in place in the US economy to replace those jobs. Most economists think there will be at least 5 years before there is a JOB recovery in the United States. However some other economists say that if we keep doing what we are doing, how could there possibly EVER be a job recovery? The United States is a net Importer and our economy is 70% consumer driven. This means we ABSOLUTELY need people spending money. However, with skyrocketing inflation and no wage increases, coupled with no job recovery, we can not sustain the consumer spending neccesary to fuel our economy.

The other thing is that the rest of our economy is driven by Financial Instruments, and those have taken such a huge hit that they are risky at BEST. Not a wise investment. So even if we wanted to lean on another substantial portion of our economy to help us through the lean times ahead, that portion of the economy is also in a free fall. The economic system in the United States can only have ONE long term outcome. Total collapse. It may not happen today...but it WILL happen.