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Only Some of Us Are Celebrating Today

Started by washingtonindependent · 9 months ago

Via Angry Bear, here’s Joseph Stiglitz, the Nobel prize-winning economist, on Treasury Sec. Henry Paulson Jr. celebrating the bailout plan he presented to Congress, which was revised in marathon negotiations this weekend:
The champagne bottle corks were popping as Treasury Se ... Continue reading »

2 comments

  • Tahut

    9 months ago

    The fact that Wall Street went out of their way to keep the government out of their turf so they could pursue unfettered profit is their business. They deserve to fall flat on their ass(et)s if the market turns on them.

    If anyone is to blame, I would first say Congress for letting the depression-era regulations lapse without thoroughly vetting problems that would arise if the regulations were not in place. Second, I would blame the FED for letting businesses getting so large than a collapse by a single entity would cause a market collapse, recession, or depression.

    The bailout of Wall Street is necessary only because those responsible to ensure the financial safety of the people of the US failed to carry out their fiduciary responsibilities in a responsible manner, caving into greed and politics.
    reply
  • jon

    9 months ago

    Some last-minute online activism on the bailout: No blank check for Wall Street's Send a message to Congress campaign. Here's how you can help:

    If you're on Facebook:

    1. Sign up as a fan and watch your "updates" for what's next

    2. reply to the No blank check for Wall Street thread on Nancy Pelosi's profile (we'll switch to the Senate after the house vote)

    3. share this link with your Facebook friends, and ask them to reply -- and to forward it to THEIR friends

    If you're not on Facebook:

    1. sign up for our annoucement email list and check your email for what's next!

    2. email this information to your friends, and ask them to help

    3. phone or email your legislators and tell them how you feel

    Thanks -- and please help get the word out!

    jon
    reply

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