Bush's Big Bank Bailout

by Cliff Kincaid

But Paulson’s answer was similar to Bush’s. He said that “on the one hand, you’ve got a moral hazard. On the other, you’ve got what’s right for the markets, what’s right for the stability of the financial system, the U.S. economy.” He said that “All of these situations are situation-specific, depending on what’s going on in the markets at the time. You’re jumping to a conclusion about what the cost is going to be to U.S. taxpayers.”.......

http://www.newswithviews.com/Kincaid/cliff212.htm

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Too Big to Bail

The Fed's Wall Street Dilemma

By Pam Martens

Americans learned two new truths last week from the Bush Administration's version of Life's Little Instruction Book: if you're a Wall Street miscreant you're thrown a lifeline; if you're a Wall Street crime fighter you're thrown a land mine.

http://www.informationclearinghouse.info/article19555.htm



The Fed is just an Extension of the Banking Establishment; The Bear bailout proves it

By Mike Whitney

Direct intervention into supposedly "free markets" is less defensible when it is merely a matter of saving an over-leveraged banking system from its inevitable Day of Reckoning. And, yet, that appears to be the reason for the White House confab.

http://www.informationclearinghouse.info/article19572.htm



If the bailout comes, watch for a dollar dive

If the United States bails out the financial system by buying mortgage debt directly, the price just might be surging inflation and a dollar crisis.

http://tinyurl.com/2zyh8h


From Information Clearing House

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The Fed Packages Corruption as Sound Public Policy

David Sirota writes for Creators Syndicate, "If you are a banking executive whose risky loans go bad, your industry's campaign donations get you Big Boy Bailout-ism that makes taxpayers 'take the bad loans off the banks' books,' as one financial analyst gushed this week. If you are a regular Joe who can't pay your home loan, you get foreclosed on."

http://www.truthout.org/docs_2006/032108O.shtml



The Gentlemen's Bailout

The Nation's editorial team writes, "The Federal Reserve's announcement of an open-ended bailout for Wall Street's endangered financial firms and banks opens an ominous new chapter in what might be called 'market socialism with American characteristics.'"

http://www.truthout.org/issues_06/032108LA.shtml



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