Tag Archives: Bailout

Reduce the deficit AFTER the real recovery

First, I hope all of you real ‘Mmmmericans had a great Thanksgiving. I know I had enough Turkey to hold me over until November 2010. Second, now that you we’re back, it’s time for a dose of Vitamin-T, Matt Taibbi. Taibbi noticed that the Obama administration is promising to reduce the deficit, a.k.a. government spending, […]

The looting continues, Part 2

Back in March I wrote about how the Bush/Obama bank bailouts are essentially cementing the power of big banks like Citi and Bank of America rather than reforming a system that’s failed so spectacularly. Instead, we’re rewarding big banks for their failure, and turning the other way while they misuse tax payer money in a […]

The looting continues

Remember that money we gave to Citi and Bank of America so that they could start lending again? Turns out, instead of lending, they are using it to buy up more toxic assets, so they can reap the benefits of the Obama/Geithner auction (giveaway) plan I mentioned on Tuesday. From the NY Post (@ Naked […]

Giving the power to Wall Street

The Obama administration, like the Bush administration before it, believes in the necessity of financial monsters like Citi, Bank of America and AIG. The proof is in their approach to fixing the credit and banking crisis. On Friday, the details of Treasury Secretary Geithner’s plan to save the banking system were leaked. As others, like […]

Just nationalize the banks already

According to the Washington Post, the Obama Treasury Dept., under the leadership of Tim Geithner, is planning to buy up the crappy debt crushing banks and thus the banking system. There is no doubt about it. We need a good financial system in place if our economy is going to recover and thrive. People need […]

Senate drops GM & Chrysler bailout bill

(Updated below) From the NY Times: The Senate on Thursday night abandoned efforts to fashion a government rescue of the American automobile industry, as Senate Republicans refused to support a bill endorsed by the White House and Congressional Democrats. This could very likely mean that GM and Chrysler will soon go bankrupt. This will likely […]

A better auto industry bailout

I’ve written a letter to Congress asking them to not bailout the faltering American auto industry. I’ve also written a post explaining you why I think the same industry deserves its date with the dustbin of history. I guess you could consider me an ardent opponent of any bailout of the Big Three. But sometimes […]

Open letter to Congressional Democrats concerning the auto industry

Dear Congressional Democrats, I know you’re planning to bailout the Detroit automakers. Don’t do it. The Big Three deserve to fail. Sincerely, Random Blogger

Congress is throwing your money into a black hole

The evidence that we’re getting fleeced by both the government and the banking industry with this bailout just keeps coming in. The financial world was fixated on Capitol Hill as Congress battled over the Bush administration’s request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury […]

Getting punked on the bank bailout

Remember how we’re shoring up weaknesses in our economy by bailing out failed banks and doling out $700+ billion to prevent further failures? Well, it looks like all that money isn’t going to help us average folk anytime soon. Part of the problem with the economy is the credit crisis. Banks have lost so much […]