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Archive for September, 2008

Dennis Kucinich Says No to Bailout

Posted in H.L. News on September 30th, 2008 1:18 pm by HL

If Dennis says no, that’s good enough for me.-HL
Here is the text of Dennis speech on the floor of congress regarding the bailout

“The $700 billion bailout for Wall Street, is driven by fear not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered.

Why aren’t we having hearings on the plan we have just received? Why aren’t we questioning the underlying premise of the need for a bailout with taxpayers’ money? Why have we not considered any alternatives other than to give $700 billion to Wall Street? Why aren’t we asking Wall Street to clean up its own mess? Why aren’t we passing new laws to stop the speculation, which triggered this? Why aren’t we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?

“Why aren’t we helping homeowners directly with their debt burden? Why aren’t we helping American families faced with bankruptcy. Why aren’t we reducing debt for Main Street instead of Wall Street? Isn’t it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the United States Congress or the board of directors of Goldman Sachs? Wall Street is a place of bears and bulls. It is not smart to force taxpayers to dance with bears or to follow closely behind the bulls.


Bailout Defeat Even Bigger Loss for Bush Loving Dems.

Posted in H.L. News on September 30th, 2008 1:10 pm by HL

The Shadow of the Pitchfork: Elite Panic Attack as Bailout Goes Bust

Excerpt:
The New York Times called the House vote “a catastrophic political defeat for President Bush, who had put the full weight of the White House behind the measure.” But this is manifestly untrue. As everyone but the nation’s media — and the Democratic Party — knows, George W. Bush has no “political weight” to use, or lose. Yes, he still retains the authoritarian powers that the spineless Democrats have given him with scarcely a whimper of protest (and often with boundless enthusiasm); but as a political force — i.e., someone whose opinions and statements can sway popular opinion — he has been a dead and rotting carcass for a long time. He is the most unpopular president in American history; and I can report from first-hand, eyewitness knowledge that he is thoroughly despised by some of the most rock-ribbed, Bible-believing, flag-waving, down-home, John Wayne-loving Heartland types that you can imagine. Even his own party — a party fashioned in his own image, the Frankensteinian melding of willfully ignorant religious primitivism and rapaciously greedy crony capitalism that he has embodied in his twerpish person — kept him away from their convention this year.

Nothing — absolutely nothing — could be politically safer than opposing George W. Bush. And yet the entire Democratic leadership, Barack Obama included, lined up to support a cockamamie plan proposed by this scorned and shriveled figure, a plan that was transparently nothing more than an audacious raid on the Treasury by Big Money hoods and yet another authoritarian power grab by a gang of murderous, torturing, warmongering toadies. This was the plan and these were the people that the Democrats decided to fight for.


Screw Wall St.

Posted in H.L. News on September 30th, 2008 1:05 pm by HL

Why Main St. Shouldn’t Weep for Wall St

Excerpt:
Why should anyone who isn’t a Wall Street insider cry for their demise?

At their height of glory, what were they up to?

Corporate raiders taking over firms and ransacking the pension funds, borrowing against the firm and then declaring bankruptcy, sending thousands into unemployment.

Massive tax breaks and insider deals for Wall Street fronted companies to exploit the American forests and wilderness areas for some oil, coal and uranium, then when the mine taps out, walk away from your phony front company, let it go into default and let the American public pick up the bill for cleaning up those toxic wastelands.


Late Late Nite FDL: Three Is A Magic Number

Posted in Main Blog (All Posts) on September 30th, 2008 4:37 am by HL

Late Late Nite FDL: Three Is A Magic Number
Schoolhouse Rock - Three Is A Magic NumberWho sang this is answered here (my guess was wrong).

What’s on your mind tonight?

Schoolhouse Rock - Three Is A Magic NumberWho sang this is answered here (my guess was wrong).

What’s on your mind tonight?


Bailout Rejection Sends out Financial Shockwaves, But It’s Also an Invigorating Moment for Democracy

Posted in Main Blog (All Posts) on September 30th, 2008 4:36 am by HL

Bailout Rejection Sends out Financial Shockwaves, But It’s Also an Invigorating Moment for Democracy
Bowing to public outrage, the House rejected the bailout and Wall Street swoons. The political bedlam in Washington is as real as it gets.


Citizens of the World

Posted in Main Blog (All Posts) on September 30th, 2008 4:34 am by HL

Citizens of the World
Offending phrase highlighted … And so, my fellow Americans: ask not what your country can do for you - ask what you can do for your country. My fellow citizens of the world: ask not what America will do for…


Following bailout failure, Dow has ?worst point drop ever.?

Posted in Main Blog (All Posts) on September 30th, 2008 4:33 am by HL

Following bailout failure, Dow has ?worst point drop ever.?
After the House failed to pass bailout legislation this afternoon, stocks tumbled “with the Dow’s nearly 778-point drop being the worst single-day point loss ever.” Today’s drop surpassed the “the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks.”

After the House failed to pass bailout legislation this afternoon, stocks tumbled “with the Dow’s nearly 778-point drop being the worst single-day point loss ever.” Today’s drop surpassed the “the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks.”


Pelosi Remarks on the Bailout Bill

Posted in Main Blog (All Posts) on September 30th, 2008 4:32 am by HL

Pelosi Remarks on the Bailout Bill
REP. NANCY PELOSI, D-CALIF., SPEAKER OF THE HOUSE: Madam Speaker, when was the last time someone asked you for $700 billion? It is a number that is staggering, but tells us only the costs of the Bush Administration’s failed economic policies — policies built on budgetary recklessness, on an anyt…



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