The Federal Bailout 2008

[KeeperOfTheWord]

What is the Third State? Everything! What has it been until now in the political order? Nothing! What does it want to be? Something!

The Third Estate embraces then all that which belongs to the nation; and all that which is not the Third Estate, cannot be regarded as being of the nation.

What is the Third Estate? It is everything.

Read Abbe Sieyes' "What is the Third Estate." Draw your own conclusions.

[Saromatae]

We cannot point to any one person and say "It is your fault". But there are two men Robert Rubin and Larry Summers who bear the greatest responsibility for the removal of Glass Steagall under Clinton. These were the men who made it possible with their corporate and gov't revolving doors.

Now Obama has once again appointed these men his financial advisers. Why not put Osama Bin Laden in charge of the war on terror!

[therealcaptobvious]

exactly!!! Obama also put Pickel and Gensler back in charge of the CFTC only AFTER they "overlooked" the trading of fraudulent subprime debts in the amounts of quadrillions of dollars.

He's the exact same as Bush. We've got the WTO allowing China's trade war against the U.S.

This is just as effective as all of the Boomers who started the "war on drugs" while doing cocaine.

[Saromatae]

Boomers and the "War on drugs" ROFL when you mentioned that I thought of Nancy Reagan's "JUST SAY NO" campaign, LOL The whole time she was hopelessly addicted to Valium.

[ceylous3121]

@Saromatae What do you mean.... ITS THE TAXPAYING PUBLICS FAULT!!!!!!!! Its there fault there being taxed to much. They wont stand up. Amercians are no longer asking themselves the tough questions. Thats what being "brave" is all about. All we do is borrow and give over our soverignty to a bunch of banksters. We deserve everything were going to get. Remember ITS AMERICAS fault its in the shape its in. Were not the worlds policemen. WERE FUKED!

[hbsegura]

The top 5% that own 80% of the wealth do not have anything in common with the rest of the 95% of Americans. That is why they have not problem selling America out. The top 5% are working for the top 5%. Trickle down economics was a lie. The wealth is not shared.

[project334]

join in the chant would have also worked for the audio... seriously, there's a lot of info to chew on here. thanks

[Paetaor]

The GDP makes me laugh when ~75% is consumption based.

Like showing what you consumed somehow makes the possibility of paying back the debt possible.

[therealcaptobvious]

most of the GDP wouldn't be possible if there was no credit. We have a wicked trade deficit. We get to thank the WTO for backing China's protectionist trade policies against the US for that. Add the multiplier effect to the trade deficit plus interest and we knocked trillions of real weath off of the GDP.

[Pepito0001001001]

just one idea: The politicians, economist, bankers, etc. sell us the idea the economy its NOT a exact cience, its is just like tarot, or weather forecast...

in a society where the money its the most important thing?

I dont belive that, all its a plan to steal the people.

the real value of the money its not the phisical stuff, like gold or oil, the value of the money its OUR WORK, who can price one stone ? the stone has value when you transform it in something useful with your work.

Pace.

[FreeAgain2]

McCain actually voted against the Gramm-Leach-Bliley Act in 1999.

All the Dems voted for it.

[robert1757]

The USA is worth 1.74 Trillion ?

Where the hell did you get that number ?

The USA is worth many times more than that rediculously low number.

You lost me in the first 30 seconds.

1 star, and good buy. I don't even want to watch the rest now.

[therealcaptobvious]

I got those numbers from Forbes. They're not accurate, a lot of America's wealth is stored as Corporate money and stock options and others are not taxed and go unreported. To tell you the truth, I looked. Don't know where to get the entire value. But I'm just trying to point out that the 90% of Americans that own less than 1% of it's wealth kind of have our hands tied in this matter.

[benstevens19]

so do you support a stimulus package or not, i got the inpression from a comment you made on an obama video that you didnt support a stimulus, but video makes it seem like you do.

[therealcaptobvious]

no, I don't support a stimulus package.I said NO bailout, what part of no goes misunderstood?!! What needs to happen is a full investigation with the entire story made transparent to the public.Suits need to be filed against real estate professionals.People need to go to jail.The fundamenals of the economy on the macroeconomy needs to be fixed. Glass Steagall needs to be reinacted. A few banks need to die.The now $8.5 trillion dollar bailout is a scam since the credit defaults were fraudulent.

[buffaloman1980]

someone knows the truth out there, now how about the legislation bill clinton signed....everybody type in yahoo search BILL CLINTON REDEVELOPMENT ACT and see what comes up.......your answer is there for all you people that don't know what is truly happening

[therealcaptobvious]

The CRA is a moral hazard. It put a lot of vulnerable borrowers at risk. However, the CRA is just an accessory to the problem. It was an aid, not the cause. It was just one of many legislations enacted by the Clinton and Bush administrations to increase property values with less demand, push incentives to gain ARM loans and to unethically put borrowers at unnecessary risk.

[hitmangiatti]

Who does the song in this video? I remember it from way back.

[therealcaptobvious]

Front 242, it's called Headhunter. Old school 80's "New Wave" techno.

[soullfire]

Agreed.