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Sunday, October 12, 2008

I admit that I "didn't trust" bush, the secretary of the treasury and congress when they wanted the people's attention and support for the financial crisis bail out package. I didn't believe the plan they had was of any use to main stream middle America. The list of why I don't trust them is a long one. I "did" believe there was a growing problem in our midst, for several years, as I witnessed the ill gotten gains of greedy power grabbing while doing my job every single day. I still am suspect of their true agenda. We don't have time to thoughtfully and thoroughly sort out this mess, unfortunately. Because the fallout will come down to human lives.... the fallout will be much more devastating to the "world" at large. I can't help feeling like my country is a financial 'disease' being forced into incubation for the critical 'good health' of the rest of the world. Or, maybe I'm just being paranoid?

I really hope the world continues to watch our governments actions and behavior, closely watching them, closely monitoring them, every second of every day.

Financial crisis is 'man-made catastrophe', says World Bank chief By Jon Swaine Telegraph.CO.UK October 13, 2008

"For the poor, the costs of the crisis could be lifelong," he said. "The poorest and must vulnerable groups risk the most serious – and in some cases permanent damage."

Carla Zinn Says: Is the economic fix in yet? Letters to the Editor Summit Daily News by Carla Zinn Monday, October 13, 2008

"In the meantime, the poor, misled homeowner is still being evicted, still has to pay a loan back that he cannot afford on a home that is overpriced."

"...This all started a chain reaction with cash flow."

" 1995 we were battling this “flipping” from investors then."

"We do not as a country have this money to bail anyone out! We will have to borrow it (from whom?), or print it, but it is no longer guarantee by gold, only by our reputation!"

"Instead they all have done very little but left it up to the states to try and resolve a national greed dilemma."

UN secretary-general calls for financial reforms The Associated Press October 13, 2008 "The secretary-general said "the ad hoc manner in which governments have had to respond to the management of this crisis' reflected serious problems in the global financial system."

Created By Public Events - Humphrey Institute - HUMPHREY EVENTS Panel discussion on the current financial crisis starting 4:00pm Tuesday October 14, 2008 located at Cowles Auditorium

This event is free and open to the public. Seating is limited and registration is required. Guests may register by phoning 612-625-5002

Hubert Humphrey Institute Of Public Affairs

Hold your meeting or event at the Humphrey Center
Visit our Conference Center for details or contact Margaret Oltmans.

U.S. Changes Course on Bank Rescue Plan Government Wants to Take Direct Stakes By Edmund L. Andrews and Mark Landler from Originally published by The New York Times Media Group Monday, 13 October 2008

But on Friday, Paulson not only confirmed his intention to buy stakes in banks but gave the idea central billing."We can use the taxpayers' money more effectively and efficiently, get more for the taxpayers' dollar, if we develop a standardized program to buy equity in financial institutions," he said."

"The new bailout law gave the Treasury the authority to buy up almost any kind of asset it wanted, including stock or preferred shares in banks."

Debt clock draws confused looks, anger or nothing By MARCUS FRANKLIN October 12, 2008

"The clock was put up by the late real estate mogul Seymour Durst in 1989 when the U.S. government's debt was a mere $2.7 trillion, and was even turned off during the 1990s when the debt decreased."

The Little Congress That Cried Wolf, by Proxy... Saturday, October 04, 2008 Why Paulson is Wrong by Luigi Zingales - "Do we want to live in a system where profits are private, but losses are socialized? Where taxpayer money is used to prop up failed firms? Or do we want to live in a system where....."

--I listened to Mr. Zingales on Washington Journal CSPAN radio with Greta on the way to work Monday morning 10/6/08..."He makes sense out of the bail out scheme and I sure hope congress took notes when he testified yesterday.

NO MORE Manufactured Political Distractions... Friday, April 18, 2008

A Bitter Sweet Kick In The Pants ~ A WAS Made In America True Story Sunday, April 13, 2008 "Manufactured Memories ~ LIFE IN AMERICA was MADE IN AMERICA"


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