Bailout

FOR IMMEDIATE RELEASE
October 1, 2008
9:36 AM

CONTACT: CODEPINK
Medea Benjamin, CODEPINK co-founder, 415-235-6517
Liz Hourican, 202-903-3363

Today: CODEPINK Demands the Presidential Candidates Reject Bailout

Take thousands of signatures to their DC offices saying "Provide Leadership: Protect the Peace, Not Wall Street"

WASHINGTON - October 1 - In the face of a Senate vote on the biggest give-away of our tax dollars in our nation's history, CODEPINK will tell both Sen. McCain and Sen. Obama that our country's leadership is in crisis and demand that they, presidential candidates, show some backbone and call for a bailout of Main Street, not Wall Street.

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Posted in Activism, Bailout

FOR IMMEDIATE RELEASE
October 1, 2008
9:00 AM

CONTACT: Institute for Public Accuracy (IPA)
Sam Husseini, (202) 347-0020;
or David Zupan, (541) 484-9167

Bailout: 'No Lasting Positive Effect'

WASHINGTON - October 1 -

JAMES THINDWA
FRAN TOBIN
The group Jobs with Justice is organizing protests around the country today. Thindwa is executive director of Chicago Jobs with Justice; Tobin is the group's Midwest regional organizer. The protest in Chicago begins at noon Chicago time in front of the Federal Reserve Bank of Chicago.

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Posted in Economy/Trade, Bailout

The “No BAILOUTS Act”

There is nothing more frustrating than listening to defenders of fundamentally flawed bailout plan that House Speaker Nancy Pelosi and top Democratic and Republican leaders failed in passing Monday must be "saved" by Democrats who recognized when the House voted on Monday that this was the wrong response.

Pelosi's plan is based on Treasury Secretary Hank Paulson's wrongheaded scheming. Democrat leaders may have tinkered a bit with the Bush aide's proposal, but certainly not enough to make it acceptable -- let alone wisely enacted.

Posted in Bailout

The Simultaneous Rejection of the Bailout and a Corrupt Ruling Class

Retired New York Times reporter David Cay Johnston, writing at The New Republic yesterday, makes a critical point, in a piece entitled "Celebrating the Bailout Bill's Failure":

Whether you favor the $700 billion bailout or not, the House vote today should make you cheer -- loudly.
Why?

Posted in Economy/Trade, Politics, Bailout

A Congress That Can Say 'No!'

Texas Congressman Lloyd Doggett, one of the few members of the US House with a steady track record of keeping his head at chaotic moments, was not impressed by the fact that the Bush White House and Democratic and Republican congressional leaders had come together to support a $700 billion bailout plan for Wall Street's worst players.

"Like the Iraq War and the Patriot Act, this bill is fueled by fear and haste," declared Doggett, a former jurist who has a habit of keeping his head when others in the House fail to do so.

Posted in Economy/Trade, Politics, Bailout

FOR IMMEDIATE RELEASE
September 30, 2008
12:00 PM

CONTACT: The Real News Network

Taruna Godric , 416-916-5202 ext 436 Email: smcommunications@therealnews.com

Bailout Must Be Combined with Structural Reform

Doug Henwood: Public ownership and public interest financing must be part of a solution to the crisis

WASHINGTON - September 30 - The US House of Representatives met on Monday to vote on the proposed $700 Billion bail out plan. By mid-day the house had rejected the proposal by a vote of 228 to 205. The rejection was a bipartisan affair with 133 Republicans and 95 Democrats voting against the plan.

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Posted in Bailout

The Free Market Preachers Have Long Practised State Welfare for the Rich

According to Senator Jim Bunning, the proposal to purchase $700bn of dodgy debt by the US government was "financial socialism, it is un-American". The economics professor Nouriel Roubini called George Bush, Henry Paulson and Ben Bernanke "a troika of Bolsheviks who turned the USA into the United Socialist State Republic of America". Bill Perkins, the venture capitalist who took out an ad in the New York Times attacking the plan, called it "trickle-down communism".

Posted in Economy/Trade, Politics, Bailout

No "Bailout" for The World's Poorest

$Michael Douglas as Gordon Gecko in the 1987 film \"Wall Street.\" His speech to a meeting of stock traders is still considered a classic on Wall Street: \"The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works.\" (File photo)$

UNITED NATIONS - As a spreading financial crisis threatens to deepen the economic recession in the United States, the news of an unprecedented 700-billion-dollar bailout package reverberated through the corridors of the United Nations last week as over 100 world leaders gathered in New York for the annual talk-fest: the 63rd session of the General Assembly.

Posted in Bailout

Political Turmoil as House Rejects Bailout

All of the political leaders blessed the deal, but the House of Representatives spit it out anyway. The Wall Street bailout is so odious to public opinion, the "people's house" rejected it today, 228-205. The fever chart in Wall Street--better known as the stock market--swooned instantly, with the Dow falling 700 points. The political bedlam in Washington is as real as it gets.

Posted in Economy/Trade, Politics, Bailout

Congratulations, Corporate Crime Fighters! Coup Averted for Three Days! ...From Michael Moore

Friends,

Everyone said the bill would pass. The masters of the universe were already making celebratory dinner reservations at Manhattan's finest restaurants. Personal shoppers in Dallas and Atlanta were dispatched to do the early Christmas gifting. Mad Men of Chicago and Miami were popping corks and toasting each other long before the morning latte run.

Posted in Economy/Trade, Politics, Bailout