bailout scam, closing of a free society
This is valid information, interview, speech by a california rep revealing how the senate felt forced to vote for the 'bailout' instead of being brave and fearless by voting against it. naomi wolf talks about the present dictarship and what the bailout means for us all. the huffington post explains where the money goes and the laws surrounding it.
http://www.youtube.com/watch?v=_XgkeTanCGI naomi wolf
http://www.youtube.com/watch?v=HaG9d_4zij8 representative from california, brad sherman
http://www.huffingtonpost.com/2008/09/22/dirty-secret-of-the-bailo_n_128294.html more explanation of 'bail out'
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CDO sales by Wall Street amount to fraud
Why should the US tax payer have to help out Wall Street when their CDO scam finally failed, as it would have, had one person thought about "what it was about"? Had Congress bothered to notice, deregulation fueled this greed on Wall Street. Like children out of control, Wall Street repackaged mortgages to sell to investors and rerated them from BBB to AAA rated and sold so many that their greed couldn't stop them from coming up with more ways to get more mortgages to sell. People with no income verification and bad credit were deemed "OK" now to buy a home. While investors were told in some cases, like in Norway "Americans always pay their mortgages"...and some Banks even went into churches to get more customers to buy homes. The fact that these people couldn't pay for them meant nothing to wall Street. The qualifications were, "Can you breath?" These people were also told, "Their homes could be refinances to a lower rate in 6 months when it went up in value"...Once this failed, as Wall Street knew it would, they fed off of our fears as the GOP has used this ploy so successfully themselves to hide mistakes. We shouldn't pay for Wall Streets greed. This is fraud on a world wide scale period. Congress had a choice and a moral obligation to find out what happened and they didn't care either. Congress blew it here handling this instead of investigating Wall Streets fraud on a global scale, but they didn't. It's just one more thing Bush broke and Congress is refusing to look into. Even Alan Greenspan said on CNBC tonight, "He didnt even know how a CDO worked or how it could"...and if he didn't know how it was even possible to work, he said nothing and neither did the FEDS bother to investigate this fraud. We'd better hope Congress doesn't handle Wall Streets greed like they did Banks such as Bear and Stern, or hand them a dime more of our taxes. Rather Wall Street should be allowed to fail from their own greed in a jail cell. That other 700 billion added to the stimulous bill could really have helped the US recover.