Today, Illinois Congressman and DC power player Rahm Emanuel voted for the $700 Billion bailout bill. His Green Party challenger in the 5th District, Alan Augustson, has issued a statement this evening unconditionally condemning Emanuel’s vote:
I wish to state for the record my extreme displeasure with Congress, for its passage of the $700B so-called [...]
Can someone help me understand this?
If the whole goal of this $700 Billion bailout is to forestall the failure of big lenders, which
* wouldn’t be a problem for the deposits of any but the most ultrawealthy, since those deposits are already federally insured, * but would dry up sources of lending, which “Main [...]
Help me understand this.
Help me understand why we must all be in such a rush to go into $700 Billion more worth of debt so that we can transfer that money to corporations that are already wealthy.
Help me understand why this is so important, considering that we’ll of course have to pay so [...]
If you were a member of Congress, and you were told you had to pass a bill to spend $700,000,000,000.00 on something, what would you spend it on?
Would you designate someone without oversight or accountability to buy $700,000,000,000.00 worth of debts held by already wealthy corporations, but just the debts that were unlikely to [...]
Section 3 is where these regulatory reforms and enforcement of accountability ought to be included. Yet, there’s not really anything there. Section 3 merely states that the Secretary of the Treasury will “consider” protecting taxpayers from the consequences of Wall Street’s gross ineptitude. [...]
How much is seven hundred billion dollars?
Well, pull out your wallet. Now lay however many dollar bills you have in there end to end. If you’re lucky, your stash may reach halfway across your kitchen table.
Start at your kitchen table and lay seven hundred billion dollars laid end to end, and you would [...]