Posts Tagged ‘bailout’

“An UnTea Party Revolution”

New article has been posted on The Huffington Post. Read it on HuffPost by clicking on the link.

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Stop the revolution, I want to get off!

Revolution is nigh and this time it’s not the product of the misguided anger of the Tea Party!

This one is ‘real.’ Not manufactured. A protest the right loves to hate.

Armed with legitimate complaints, too many to count, people — ignored by an uncaring Congress — have taken their concerns to the street.

It started with the occupation of Wall Street, spread to more than 100 cities throughout the United States, then to cities all over the world.

Is this a populist movement?

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Posted in HuffPost Articles, Occupy, Opinion, Politics, Tea Party | Comments Off

“Overcoming the Stigma of Bankruptcy!”

Millions of hard-working Americans are filing bankruptcy every year.

In 2010 more than a million and a half individuals and families filed for bankruptcy — exceeded only in 2003 and 2005.

It’s predicted that bankruptcies could decrease in 2011 after returning to the pre-2005 levels the past two years. But, if the economy slows bankruptcies will climb. More than 3.7 million Americans have filed for bankruptcy in the last five years.

With so many Americans in financial trouble bankruptcy no longer carries the stigma it once did. The need to file bankruptcy has touched not only the poor, but a wide spectrum of Americans who are struggling to make ends meet.

When will the financial struggle for hard-working American’s end?

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Posted in Bankruptcy, Economy | Comments Off

“Republicans Run From the Truth: Again!”

This new article has been posted at The Huffington Post and on wsj.com.To read it there click on the link.

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Like spoiled children the remaining two Republicans quit bipartisan budget talks.

Majority Leader, Eric Cantor, and Senator, Jon Kyl, the last two GOP members, left the Biden chaired budget negotiations.

But this is not the first time Republicans have quit.

Because things weren’t going his way, Senator Tom Coburn, left the Gang of Six. Sarah Palin continues to quit everything she starts, more recently her big bus vacation. And Republicans have, over and over, abandoned positions they had previously supported as soon as the Democrats or Obama endorse them, even if they’re good for the nation.

This time, the consequences may be more serious—the results far more devastating.

Why, when negotiations reach critical points, do Republicans take their ball and head home?

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Posted in Budget, Economy, Election 2012, HuffPost Articles, Politics, Republican Crises | Comments Off

“The Banksters: An Oscar Winning Performance”

Oscar Winning “Inside Job” exposed the criminals of the banking crisis!

As a result of the hard-hitting documentary, the criminals have been rounded up, tried, convicted, and incarcerated in maximum level confinement.

Their families are outraged, claiming they are being treated like caged animals; treated like Bradley Manning—isolated and stripped of their rights and visitation privileges. They are calling for fair and humane treatment, including access to their overpaid attorneys.

What?

There are no banksters in prison?

No one has been convicted?

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Posted in Banking, Economy, Finance, Politics, Too Big to Bail | 1 Comment »

“Hiding America’s ‘Real’ Economy!”

This article is available on The Huffington Post and was posted at 5:00 pm on January 20. Click on link to view on the Huff Post.

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America’s economy seems to be recovering but is that the ‘real’ story?

Some fourth quarter economic indicators—retail sales, manufacturing, stock market, corporate profits—portend a rising economy significant enough to avoid another slide to the bottom.

The optimism on Wall Street is palpable as the stock market continues to rise, or melt up as they now say, a result of the positive indicators over recent months. And the heightened exuberance the consumers showed this holiday season was also a positive sign. Manufacturing has been rising for the last several months which is seen as paramount to an improving economy.

The stock market is on its way back to its peak, due, in part, to record corporate profits.

The market is considered a forward looking indicator, and the private sector seems poised to stand on its own and no longer require the extreme measures it needed from the Federal Government.

So what could possibly go wrong and who would even whisper that things weren’t getting better?

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Posted in Economy, HuffPost Articles, Wall Street | Comments Off

“A House Derided”

This new article has been posted on The Huffington Post, Thursday at 11:05 pm. Click on the link to read at the HuffPost.

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Will the coming change in the House of Representatives be productive?

In the 110th and 111th Congresses the Democratic Majority was accused of socialism, out of control spending, manipulation, and derision by a bitter and vitriolic Republican minority. A minority with a memory deficit.

Attacks have been unfairly levied at Speaker Nancy Pelosi, Barney Frank, and other high ranking Democrats in the House for a multitude of positions and actions they took as the majority party. Many of the actions would actually ‘help’ most Americans.

Republicans are set to again become the majority in the House despite their previous 12 years of failure: causing the economic meltdown, throwing us into a costly war in Iraq, increasing the cost of Medicare with Medicare Part D, bailing out the banks with TARP, and on and on, ad infinitum.

If you think the House of Representatives was bad this past four years wait until you see what’s coming.

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Posted in Congress, HuffPost Articles, Politics, Republican Crises | Comments Off

“In Geithner’s Fantasy World!”

My newest article has been posted at The Huffington Post and is available to read and comment on. Click on the link to go straight to the article in the Business Section.

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There’s an incredible disconnect inside The Beltway and Geithner’s the drum major!

In the fantasy world of the Obama Administration and Treasury Secretary Timothy F. Geithner the country is improving and we should all be thankful for their swift and decisive actions.

Those heroic actions prevented the country from sliding into another Great Depression, but what is happening in this economy cannot be defined as recovery.

His recent Op-Ed in the New York Times, “Welcome to the Recovery,” explains why we should all feel better about the economy. “The economy is better than most Americans realize.” He actually believes that the actions they took to stimulate the economy at the height of the devastating meltdown prevented an even deeper collapse and put the economy on the road to recovery.

For whom?

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Posted in Economy | Comments Off

“Small Banks Reel, While Big Banks Steal”

Congress battles over financial reform while four more banks fail!

Congress, in its infinite wisdom, is allowing Big Banks to steal from ‘the people’ while regional and community banks fail at an accelerated rate.

Four more banks were closed by the FDIC last Friday bringing the total lost in the first two weeks of May to 8 and the 2010 total has increased to 72 bank failures.

As bank foreclosures edge closer to costing the taxpayers huge amounts of money, Senators like Judd Gregg, Mark Warner, and Bob Corker help ‘Too Big to Fail’ institutions slide their hands into customer’s pockets to steal their hard-earned cash.

The Big Banks, JP Morgan Chase, Bank of America, Citigroup, and several others borrow money from the Fed at 0%, buy America’s debt from The Treasury earning the spread in interest rates, making easy money at the expense of taxpayers. In return they give their customers very little interest on their savings and charge them outrageous fees after creating bogus, thieving rules designed only to extract money from their customers.

In other times in our history these actions were unethical and even criminal.

Yet our Congressional representatives are reluctant to pass laws to keep the banksters out of our pockets.

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Posted in Banking, Economy, Too Big to Bail | Comments Off

“Break ‘em Up!”

There are many reasons why we need to break up the behemoths of finance!

The taxpayers saved their affluent asses. The Big Banks, along with their highly compensated executives, were headed over the cliff with nothing to stop their fall, and we bailed them out!

Break ’em Up!

Congress, in a panic, saw fit to give taxpayer dollars to the self-destructive creators of the financial crisis to prevent a catastrophic meltdown of the U.S. economy, without even asking us.

We’re told over and over that TARP was successful, that Congress’ decisive actions saved the economy and that we should be eternally grateful. We’re reminded that the Big Banks are again stable. They’re back to making billions of dollars—and the economy is improving.

For whom?

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Posted in Banking, Economy, Too Big to Bail | Comments Off

“Too Big to Fail; Too Big to Bail!”

In March of 2009 I wrote an opinion on the big banks, their executives, and what they did to cause the financial crisis that almost melted down the entire global economy.

Just over a year ago, as the total collapse of the financial system was unraveling, the banks were given a huge bailout despite the fact that clearly over 90% of those that wrote, called, and e-mailed their Congressional representatives told them NO bailout. The banks had misused depositors and investors money and deserved to fail.

Our corporate bought, non-responsive members of Congress voted for the bailout, despite their constituent’s admonition of such a use of taxpayer’s money. Despite the fact that some of these big banks have kinda paid-back the TARP (Toxic Asset Relief Program) funds they were given, they still have billions in government guarantees for their toxic assets, corporate bonds, and shares we still own.

Are the banks remorseful for causing the recession and a bad economy for millions of hard-working Americans and their families? They’re giving out billions of dollars in bonuses! Have they learned anything from their mistakes?

The answer is unequivocally—NO!

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Posted in Banking, Economy, Opinion, Too Big to Bail | 4 Comments »