Bailout Can't Hide It: The United States Is Broke

Stop the Bailout!
//list.lewrockwell.com/t/1125740/12759198/59758/0/

Blaming the Victim: The Free Market
//www.lewrockwell.com/north/north657.html

Bailout? Just do nothing
//list.lewrockwell.com/t/1125740/12759198/59768/0/

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Confidence in US Banks Nosedives after Washington Mutual Collapse

By Andrew Clark

The failure of the Seattle-based bank Washington Mutual undermined confidence in a fresh clutch of US household names today, as investors digested the implications of the biggest collapse of a high-street bank on record.

//www.informationclearinghouse.info/article20870.htm



Bailout Can't Hide It - The United States Is Broke

By Chris Powell

The bad-debt bailout would be the biggest government patronage program in history and would amount to declaring martial law over the U.S. financial system and economy. Even if such martial law is necessary, its implementation should be put in democratic hands - a non-partisan agency with full transparency, statutory standards for its purchases, and close accountability to Congress.

//www.informationclearinghouse.info/article20874.htm



"Why Is There Need for a Bailout?"

By Ralph Nader

It's eerily reminiscent, when you listen to Bush yesterday, of how he stampeded the Congress and the country into the criminal war invasion of Iraq in 2003. I mean, look at all his statements: this could do this, this would do that, farms failing, small business, tada, tada. The first question we have to ask as citizens is, why is there a need for a bailout?

//www.informationclearinghouse.info/article20871.htm



Economists Against The Paulson Plan

To the Speaker of the House of Representatives and the President pro tempore of the Senate: As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan.

//www.informationclearinghouse.info/article20873.htm



US Taxpayers are Being Enrolled in an Economic Chain Gang

By Jeff Randall

"To preserve their [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude" - Thomas Jefferson -

//www.informationclearinghouse.info/article20875.htm



A Bailout and a New World

By Pepe Escobar

What the UN is NOT talking about is how the US will be able to sustain wars in Iraq and Afghanistan and go against Iran, the Pashtuns in Pakistan or Russia if the Chinese, the Japanese and sovereign wealth funds of the Gulf petromonarchies decide to stop financing these demented adventures. That's the larger-than-life elephant in the UN house: everybody knows that the end of the unipolar world is tied to the fact that Washington simply cannot continue to be a superpower financed by foreigners.

//www.informationclearinghouse.info/article20878.htm



Why is a U.S. Army Brigade Being Assigned to the "Homeland"?

By Glenn Greenwald

They may be called upon to help with civil unrest and crowd control or to deal with potentially horrific scenarios such as massive poisoning and chaos in response to a chemical, biological, radiological, nuclear or high-yield explosive, or CBRNE, attack.

//www.informationclearinghouse.info/article20869.htm

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An Amnesty for Stupidity

About one thing we may be sure. The U.S. deficit and national debt are going to soar. The credit rating of the United States, as this nation of non-savers has to borrow abroad to save its banks, and their banks, is going to fall. We are going to be a poorer nation and people.

//www.humanevents.com/article.php?id=28670#continueA



Big bailout is unlikely to work

The U.S. "hold-to-maturity" bailout plan is really just the new "mark-to-myth," and even its heroic proportions are not likely to paper over solvency problems in the banking system.

//www.iht.com/articles/2008/09/25/business/col26.php



Asia Needs Deal to Prevent Panic Selling of U.S. Debt, Yu Says

Japan, China and other holders of U.S. government debt must quickly reach an agreement to prevent panic sales leading to a global financial collapse, said Yu Yongding, a former adviser to the Chinese central bank.

//bloomberg.com/apps/news?pid=20601087&sid=anZHfo6tQi60&refer=home


From Information Clearing House

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Is the Bailout Needed? Many Economists Say "No"

Kevin G. Hall, McClatchy Newspapers: "A funny thing happened in the drafting of the largest-ever US government intervention in the financial system. Lawmakers of all stripes mostly fell in line, but many of the nation's brightest economic minds are warning that the Wall Street bailout's a dangerous rush job. President Bush and his Treasury secretary, former Goldman Sachs chief executive Henry Paulson, have warned of imminent economic collapse and another Great Depression if their rescue plan isn't passed immediately. Is that true?"

//www.truthout.org/092608R



The Financial Crisis and You

NOW: "New York Times reporter and Pulitzer Prize winner David Cay Johnston pleads with journalists to scrutinize the government bailout, writing, 'Don't repeat the failed lapdog practices that so damaged our reputations in the rush to war in Iraq.'"

//www.truthout.org/092608U



Labor Unions Protest in New York Against Bailout

Christian Wiessner, Reuters: "Hard hats, transit workers, machinists, teachers and other labor unionists railed against the US government's proposed bailout of Wall Street on Thursday in a protest steps from the New York Stock Exchange.

//www.truthout.org/092608LA

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Pain on Main Street

ANP: Bailout for Wall Street, but nothing yet for homeowners on the verge of foreclosure.

//therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=2413



Bailout sparks anger

Protesters take to the streets to condemn Wall Street bailout plan.
//therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=2422



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