Bailout

Invasion of the Sea-Smurfs

A little-noticed story surfaced a couple of weeks ago in the Army Times newspaper about the 3rd Infantry Division's 1st Brigade Combat Team. "Beginning Oct. 1 for 12 months," reported Army Times staff writer Gina Cavallaro, "the 1st BCT will be under the day-to-day control of U.S.

Economist Asks: Is The Bailout Necessary?

Economist Dean Baker shares his thoughts on the bailout panic during a public panel held at the Institute for Policy Studies on Sept 30, 2008. Dr. Baker is the Co-Director of the Center for Economic and Policy Research in Washington, DC and a columnist for The Washington Post and Atlantic Monthly.


 

Posted in Bailout

FOR IMMEDIATE RELEASE
October 1, 2008
4:36 PM

CONTACT: Congressman Dennis Kucinich
Nathan White (202)225-5871

Kucinich: Senate Bill Doesn’t Fix Underlying Crisis

WASHINGTON - October 1 - Congressman Dennis J. Kucinich, one of the leaders in challenging the Wall Street bailout plan, reacted to the Wall Street bailout legislation that the Senate will consider later today.

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From Coast to Coast: Health Care Not Wealth Care?

CHICAGO - Last week, I heard a lot about healthcare reform as I traveled from Washington, DC, to Boston and on to San Francisco. In just five days, I spoke to literally hundreds of people who believe as I do that if we have the money to provide wealth-care for the nation then we surely have the money to provide health care too. The problem is, those who want the wealth-care through bail-outs are also those who would deny us health care - especially now.

Bailing on Poverty and Ordinary Americans

At a moment when the media is focused on the drama surrounding the failed bailout legislation, too little attention is being paid to the real struggles of ordinary people and the human costs of our inequitable economy. The bailout's fate shouldn't stand in the way of the broader economic stimulus package that is desperately needed. Though there was an effort by Democrats to make sure that at least a few of the biggest challenges people are facing are addressed before Congress recesses this week, an obstructionist GOP makes that now seem out of reach and sight. highly.

FOR IMMEDIATE RELEASE
October 1, 2008
12:12 PM

CONTACT: Rainforest Action Newtork (RAN)
Nell Greenberg, 510.847.9777
Jennifer Krill, 415.336.8936

Activists Scale Flagpole Behind Iconic Merrill Lynch Bull, Raise 150-Square Foot American Flag with ‘Foreclosed?’ Stamped On It

NEW YORK - October 1 - With the economy in tatters and Congress fumbling for answers, activists with Rainforest Action Network (RAN) scaled the 40-foot flagpoles behind the iconic Wall Street bull in New York's financial district today to raise an American flag with the word "Foreclosed?" emblazoned across the front. An accompanying 30 plus person rally called for an end to Wall Street's reckless financial practices that threaten to foreclose on America's future, while demonstrators carried signs reading "families before financiers" and "our money, our planet, our future."

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Rainforest Action Network campaigns to break America's oil and coal addictions, protect endangered forests and Indigenous rights, and stop destructive investments around the world through education, grassroots organizing, and nonviolent direct action.
Posted in Activism, Bailout

Boston Tea Party, 2008

How dare you throw that tea into Boston Harbor! Such is the anti-democratic arrogance of the fear-mongering pundits and politicians who tell us if we taxpayers don't instantly give the Wall Street banking bandits a $700-billion bailout, we are destroying America. Instead of applauding representatives from both parties who, for once, heeded the public rather than the fat cats, the established pundits blasted those who dared get out of line.

They Stood Up to the Banks

The American people stood up, and the bailout package went down.

Like other moments in U.S. history when the robber barons or the big banks went too far, the American people reined them in this week, refusing to hand over billions of dollars that would put themselves and their children and grandchildren into debt to pay off the collapsing fortunes of some over-sized and under-regulated banks. In the face of predictions of economic calamity, they said "no" to more help for the super-rich. They told their representatives in Washington they'd had enough.

Bush Plan Down But Not Out

BOSTON - Leading U.S. lawmakers and the cabinet of Pres. George W. Bush met behind closed doors Tuesday to strategise a way to win more votes for their 700-billion-dollar plan to bail out Wall Street, a plan that met with stunning defeat in the U.S. House on Monday.

The leaders announced late Tuesday that they had arranged a vote on Wednesday in the Senate, even though Congress is officially on break. The Senate is considered more likely to approve the plan, and if it does, this will add pressure on the House to get on board.

Posted in Bailout

It Started With NAFTA

Have you been shaking your head over the conservative Republican-left wing Democrat alliance that defeated the Bailout Bill? Look back to 1994, when Bill Clinton rammed the NAFTA enabling legislation through Congress with a narrow majority. I was sitting in the Gallery, and saw a fascinating political phenomenon. NAFTA was passed by a narrow majority made up of members from both parties, the corporatist Democrats (Clinton's Democratic Leadership Council) and the corporatist Republicans. Voting against? The populists on both sides of the aisle.

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