!!! ECONOMIC MELTDOWN Bill Moyers !!!! (1 of 2 NY TIMES FULL)

Bill Moyers speaks to two well-versed voices — NEW YORK TIMES business and financial columnists Gretchen Morgenson and Floyd Norris — to discuss who wins and who loses in the financial turmoil. Their conversation ranges from the mortgages to derivative, the SEC to the Glass-Steagall Act

Category:

News & Politics

Tags:

• bill
• moyers
• pbs
• financial
• melt
• down
• crisis
• wall
• street
• economic
• Gretchen
• Morgenson
• Floyd
• Norris

[artyphax]

I have a solution that is not being talked about. The government should charter about one hundred NEW banks and fund them with $5 trillion. Real business in the real economy can get credit from these new banks. Let the old banks and Wall St. firms simply eat their own losses.

[johnq123123]

We must ask ourselves what has happened here. In reality nothing has happened and all physical goods remain in abundance. What has changed is the system that the parasites have used to manipulate us has collapsed, and now we must bail them out so that these leeches can continue to live the grandest of lives while continuing to produce NOTHING.

Create something you worthless fleas, and stop inserting your filthy selves bewteen the producer and the consumer.

[pvisserandorra]

@firesprinklers If you used your house as an ATM, you made a mistake.

[firesprinklers]

I got screwed from my home in California of 26 years, by this glut of greed.  As Gretchen say's "privatizing gains, and socializing losses by the government". This is exactly what happened. We bail out the banks but blame the borrowers.

[CurlyPictures]

excellent idea.

[Clarky006]

What has changed is simple, the massive amounts of valueless money generated through interest from fractional reserve loans is destroying the value of the currency, and people are loosing faith in it's value, hence the sudden hesitation to keep the loans open. Now all that money is being absolved or called back in. That's your credit 'crunch', and in the process the very few profiting over the many.