Have things changes?
A little, but this time they are after your savings and retirement. The world has over $36 trillion in savings. The three big banks have derivatives amounting to over $200 Trillion! This is the people’s wealth.
Do you see what is happening here? They are trying to secure their theft and at the same time grab your life savings. All you have to do is put your foot down and call them out.
Employ the Rule of Law.
All you have to do is stick together.
Call your officials and tell them No Bail Out!
Demand the Congress call/re-institute the Sargent At Arms and end this mess now.
Dallas Fed’s Richard Fisher Worries About Cost and Effectiveness of Bailout Bill
Mirabile dictu, one of the Fed governors is expressing reservations about the stalled bailout proposal. IRichard Fisher’s concern is that it would push Federal debt precariously high. From Bloomberg: Dallas Federal Reserve Bank President Richard Fisher said the proposed $700 billion rescue of financial institutions backed by Fed Chairman Ben S. Bernanke would plunge the U.S. government deeper into a fiscal abyss. The plan by Treasury Secretary Henry Paulson to buy troubled assets from financial institutions would put “one more straw on the back of the frightfully encumbered camel that is the federal government ledger,” Fisher said today in the text of a speech in New York. “We are deeply submerged in a vast fiscal chasm.”… “Holding the Fed funds rate steady at 2 percent was the right thing to do, while our colleagues at the New York Fed and at the Treasury turned to dealing with the risk of AIG and other choke points in the markets,” Fisher said. He had dissented in favor of tighter policy on five votes this year by the rate- setting Federal Open Market Committee. This month he voted with the majority. Money market rates worldwide surged today on concern lawmakers may weaken the Treasury’s proposed rescue of financial institutions.
NO BAIL OUT