Browsing All posts tagged under »Bailout«

Beginning The 'Great Reset' In America

January 13, 2010


Today is the first day of the 2010 legislative session for the Maryland General Assembly. The state of Maryland, along with most of its counties and local governments, is at a point of financial reckoning. Maryland is not alone. Almost every other state is in the same predicament, or worse. It is possible that California […]

Fat-Cat Bankers Snub President Obama

December 14, 2009


On Sunday, President Barack Obama said, “I did not run for office to be helping out a bunch of fat-cat bankers on Wall Street.” On Monday, the fat-cat CEOs, who are still employed and still getting their fat bonuses, thanks to a bailout from the U.S. government, had only a 75 percent attendance rate for […]

WBAL’s Ron Smith and PBS’ Bill Moyers Singing From The Same Hymnal?

April 8, 2009


“Talk-show Man” Ron Smith devoted a good portion of his WBAL show (am 1090) yesterday to the theme, “It’s Fraud, Not Incompetence.” Mr. Smith played extensive excerpts from Bill Moyers’ Apr. 3 interview on PBS with William K. Black, a senior regulator in the 1980’s Savings and Loan investigation. Mr. Black is an expert on […]

Wall Street Wants Status Quo; Main Street Wants Change

March 22, 2009


Who can say where this economic crisis, including the near collapse of the banking system, will end, or how long it will last? Remember that a year ago, most of the highest government and business leaders had full faith and confidence in the global economy, the markets, and the over-leveraged banks. Most of our government […]

The Truing of American Capitalism

March 20, 2009


The wailing and gnashing of teeth emanating from Wall Street, and parroted by Republicans on Capitol Hill, is hurting my ears. The uproar over executive bonuses is loud but disingenuous! Look, the game is up! The bubble has burst, the market has crashed, the economy is in crisis. Capitalism has run wild. The people want […]

Wall Street On Battle Alert For Class Warfare

January 30, 2009


Erin Burnett on CNBC: “It is clear that there is a war going on in this country against Wall Street.” Oh my! President Barack Obama announced a Middle-Class Task Force today, to be chaired by Vice President Joe Biden. Obama, who chided Wall Street yesterday for taking $18 billion in bonuses in the middle of […]

Universal Health Care For the Automobile Industry

November 19, 2008


The Answer is:  A universal health care demonstration project. The Question is: What kind of assistance should Congress give to the embattled U.S. automobile industry? The Big Three, General Motors, Ford, and Chrysler, appear to be no longer economically viable, no longer able to compete with foreign automakers. Congress is engaged in a national exercise of hand-wringing […]

After The Banking Bailout, Can Congress Let GM Go Bankrupt?

November 16, 2008


We’re starting to see a pattern here, in the way the U.S. government responds to crisis situations. Consider: New Orleans — Hurricane Katrina assistance New York City — Wall Street bailout Detroit — Auto Industry collapse Is there a hint of classism in the magnitude and urgency of the government response, depending on the wealth and status […]

Quote of the Week: Tom Friedman on the Bailout

November 13, 2008


In an interview on CNBC this morning, Tom Friedman, the New York Times columnist and author, said: “We have to spend this bailout money very carefully. We’re charging this money on our kids’ Visa cards.” And should the government extend the Wall Street bailout to include the auto industry? Tom Friedman suggested the money could […]

Henry Paulson: “Hurry Up! — Oops, Not So Fast!”

November 13, 2008


You never want to hear a surgeon say, “Oops!” Yesterday, Treasury Secretary Henry Paulson announced that he is isn’t going to use the $700 billion Wall Street bailout to buy mysterious mortgage-backed securities from banks at bargain-basement prices, after all. I guess we’ll have to find a new name for the so-called “Troubled Assets Relief […]