T.A.R.P. Troubled Asset Relief Program (a.k.a. Paulson Bailout Bill) congressional hearings.
(more videos after the break)
On Thursday, stocks flew off the shelves because President Bush stepped up to the microphone and pleaded with the American people that, if nothing else, we had to salvage “THE SYSTEM“. His message over and over again was that the system could not be allowed to fail. Why? Because this system funnels wealth out of the hands of the citizen and into the hands of wealthy corporations and international banking families. And if Bush has proven anything to us at this point, it is that he only cares about those top 5%ers and everyone else can just fuck off.
So that day, Thursday, stocks were up 530 points and the MSM was all over it. Big headlines and glorious reporting, even though the unemployment numbers were higher than before. It was all about stocks. Well, the day before the Dow had lost 450 points and today it lost over 350. Not a headline from the MSM, not hardly a peep.
The glaring problem here is all of this money is being put in the hands of people who spend every last moment of their miserable lives trying to figure out how to screw someone else over and take what they have. That is what Paulson did for a living before his current post and that is what Kashkari did.
So of course these banks are not going to out on a limb and start lending money left and right. They know that the big banks, the JP Morgan/Chases and the CitiBanks are looking to cinch up the credit market in order to force a crash. So if they lay out their capital rather than sitting on it, they will be just another institution gobbled up in the coming depression. So they, concerned only with their own interests, sit back and guard the capital waiting for the other shoe to drop.
Well so far you are all about agreeing with what I have just said. Well let’s try this on for size, shall we?
Watch this video and watch the part where the representative admits he wasn’t going to vote for this until…. until he got a call from Sen. Obama urging him to do so.
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