Fed Bailout of Bear Sterns first since Depression!-2/2

Fed Bailout of Bear Stearns First of its Kind Since Great Depression

The nation's fifth largest investment bank Bear Stearns nearly collapsed last week. It was saved only after the Federal Reserve took extraordinary measures to help JPMorgan purchase the eighty-five-year-old firm. The Fed has become the lender of last resort for other investment banks in a move that marks one of the broadest expansions of the Fed's lending authority since the 1930s. We speak with Nomi Prins, an author and former investment banker at Bear Stearns, and Max Fraad Wolff, an economist and writer. [includes rush transcript]

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[Mike1977a1]

But the problem in America and Britain isnt agricultural land reform, it is housing reform, i.e they dont want help out the proletarian housing problem that has been buried under the political carpet since Regan & Thatcher!

The proletariet has had to change its behaviour which happend off of the mainstream media radar. This is causing a restructuring of the financial superstructure which always depends on constant surplus value.