News Media Propaganda Helped Push Through Failed Bailout

 

News Media Propaganda Helped Push Through Failed Bailout
By Norman Solomon, AlterNet
The news media played a pivotal role in stampeding the country into a bailout that was unwise and unjust. Read more »

Watch the video

 

President Obama recorded a series of national network and cable news interviews
about the urgent need for an economic recovery plan which bails out working Americans instead
of speculators and corporate CEOs. 
Watch the video and share it with your friends and family:

 
 
VoteNoBailout_buttonOn the top-down "Bailout" scam...
(
Trickle Down Economics, Voodoo Economics, etc..)
Should we hand over 700 billion dollars, no questions asked? 

Franklin Delano Roosevelt understood that only a bottom-up bailout works...


Thomas Jefferson (Letter to James Monroe, January 1, 1815)

“If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies.  We are completely saddled and bridled, and the bank is so firmly mounted on us that we must go where they ill guide.
The dominion which the banking institutions have obtained over the minds of our citizens...must be broken, or it will break us.”


--------------------------------------------------------------------------------
Bankers Manifesto of 1892
We (the bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance.  Organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them.  At the coming Omaha convention to be held July 4, 1892, our men must attend and direct its movement or else there will be set on foot such antagonism to our designs as may require force to overcome.  This at the present time would be premature. We are not yet ready for such a crisis. Capital must protect itself in every possible manner through combination (conspiracy) and legislation.  The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible.  When, through the process of law, the common people have lost their homes, they will be more tractable and easily governed through the influence of the strong arm of the government applied to a central power of imperial wealth under the control of the leading financiers.  People without homes will not quarrel with their leaders. History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism.

The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.  By thus dividing voters, we can get them to expend their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete actions, we can secure all that has been so generously planned and successfully accomplished.


Thursday, June 25, 2009 11:44 AM

It is not difficult to cut to the chase.  This is the same battle Cheney has been fighting for the past eight years.  Congress has the power of the purse.  Cheney wants it.  If we hand over 700 billion to the executive branch and allow them to control that purse without effective oversight, then Cheney has his wish. 

And the destruction of our nation is complete.  We already lost the rule of law, sacrificed the peace, and been sold down the river to China... and now  they want to hold us hostage while they steal our wallet.  

As for the financial "crisis," it was unavoidable.  If you retroactively lower taxes on the richest of the rich, this leads to bankruptcy, first of the US treasury and then every state in the union.  Then this fiscal insanity is followed up with a removal of checks and balances.
Next comes a corporate occupation of choice which includes illegal contracts supported with tax dollars and military lives... and we must borrow all the money to do all of this.  Predictably, this house of cards fell.  Studious ignorance is not policy.

History has shown that the best and brightest thing to do it LET IT FALL.  When we tried to rescue irresponsible investors before the last depression, all we did was line the pockets of the criminals who brought us to the brink. And it did nothing to fix the problem.  The only way we "fixed" the crisis was by investing in America.  I cannot believe so many are so willing for so long to remain blind, deaf, dumb, and ignorant.  History speaks but nobody listens. 

We must remove the criminals at the helm and begin investing in job creation at home to repair our infrastructure.  Follow that up by rebidding the illegal contracts in Iraq and remove our troops from harm’s way while responsible contractors begin the real work of recovery from the American war on Iraq. 

If there is any "so-called" bailout, it should be a bailout of the people who were duped and are losing their homes due to corporate shenanigans over which they had no control.  It is time to invest in America and our people, not in transnational
corporations whose primary concern is their investments in India and China. 

We should impeach, remove, prosecute, and give the criminals 40 years to life for the treason they have committed through corruption and incompetence.  Don’t buy the bailout…  instead put the criminals where they belong and set their bail at 700 billion.


Tim

Interesting, I see the Dow Jones has dropped approx. 700 points today.  Let’s see, the bailout was approx 700 billion.  That’s about one billion per point…  The vote failed and of the Oregon delegation, only Rep. Hooley voted for it the first time around on this.  http://clerk.house.gov/evs/2008/roll674.xml   It’s also interesting to note the name of this amendment ..  ahh, beltway politics…  

 H R 3997  - “To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief
to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes
(otherwise known as ‘‘Emergency Economic Stabilization Act of 2008”.)  
 

Here’s a link to the amendment:  Make up your own mind...  http://www.rules.house.gov/110/text/110_hr3997_amnd_samnd.pdf
(this is a note from Mark S.)

Clicking here will sign your name:
"The Bush economy is in crisis, and giving Bush a blank check is not the solution. Congress must act by putting Main Street ahead of Wall Street."
    Sign the petition

Instead, congress can choose to impose a few sensible conditions on the bailout to ensure that it will be used responsibly.
Here are a few suggestions courtesy of Robert Reich1:

No $700 Billion Blank Check

 

Any bailout package that Congress passes must be balanced to help Main Street as well as Wall Street.

Contact your member of Congress today.

  1. If the taxpayers are shouldering the risk, the taxpayers should reap any eventual benefits. We accomplish this by giving the government an equity stake in every company we bail out proportionate to the amount we give them.
  2. If we're paying (more than) our fair share, the CEOs and executives should have to, too. All of the fat cats who got us into this mess should relinquish their stock options and salaries until they start showing us, their investors, that they can once again be profitable. Future salaries should be linked to profitability.
  3. No more campaign contributions from Wall Street executives and PACs. Taxpayer dollars should be used to get our nation out of a crisis. They cannot be used to fund giant, powerful lobby operations that will be used to strong arm Congress into making bad policy.
  4. Better regulations start right now. Wall Street can't expect to take thousands of dollars out of your paycheck without agreeing to increased transparency and more stringent oversight — the kind that might have helped avoid this mess to begin with.
  5. Bankruptcy judges get broader leeway to help homeowners. Why should we lose our homes so the CEOs can keep theirs?
There is no reason at all to bail out investment bankers worldwide with American taxpayer monies.  The Bush Administration and their sponsors.... the richest 1% in America, precipitated this crisis.
They should pay for it.  We call it capitalism.   Tim
 
George Bush, Henry Paulson and Ben Bernanke came to Congress last weekend with a request for a $700 billion blank check to bail out Wall Street. Thankfully, our allies in Congress are pushing back against this dangerous and ill-conceived bill.

Our congress needs to hear from you. Contact your member of Congress and their leaders today and tell them "no blank checks" for Wall Street.

Our nation is facing a real financial crisis, brought on by seven years of Bush-McCain financial policies, that calls for action that is thoughtful and swift—but not hasty.  The actions we take at this perilous time must set the stage for a real recovery that benefits Main Street as well as Wall Street.

The last thing we should do is compound the enormous imbalances in our economy with an enormously imbalanced rescue package.

 

To actually help us in this crisis, a "bailout" must:

  • Be governed by an independent board with transparency and effective public and congressional oversight.
  • Use the full array of financial and legal tools available to the government to stop foreclosures and restructure home mortgage loans for working families.
  • Address the cause of the crisis on Main Street in addition to the symptoms on Wall Street. Congress should pass a second stimulus package in its entirety.
  • Work to address the disastrous weaknesses in our financial regulatory system and corporate governance system that allowed this disaster to happen.

Contact your member of Congress and their leaders today and tell them to ensure that any bailout package is a balanced one.

The current Bush-Paulson-Bernanke proposal does nothing for families facing foreclosure or for working people hit hard by the economy, and it does nothing to hold those who caused this crisis accountable. Meanwhile, it grants unlimited authority to the Bush administration to spend $700 billion of the public’s money to prop up whomever they wish on Wall Street, without any rules or independent oversight. 

This is not acceptable.

The stakes are enormous.  If this plan ends up squandering hundreds of billions of dollars of the public’s money, the damage will not be limited to the financial system.  As a nation, we must address the health care crisis, the infrastructure crisis, the energy and environmental crisis and the jobs crisis.  Our future and our children’s future depend on focusing our nation on these challenges in the real economy.

Contact your member of Congress and their leaders today and tell them "no blank checks" for Wall Street.

In solidarity,  Working Families e-Activist Network, AFL-CIO


Other headline news item:   Obama update!

Congress and the President are debating a bailout of our financial institutions with a price tag of $700 billion or more in taxpayer dollars. We cannot underestimate our responsibility in taking such an enormous step.

Whatever shape our recovery plan takes, it must be guided by core principles of fairness, balance, and responsibility to one another.

By clicking here, you are signing on to support an economic recovery plan based on the following:
 

• No Golden Parachutes -- Taxpayer dollars should not be used to reward the irresponsible Wall Street executives who helmed this disaster.

• Main Street, Not Just Wall Street -- Any bailout plan must include a payback strategy for taxpayers who are footing the bill and aid to innocent homeowners who are facing foreclosure.

• Bipartisan Oversight -- The staggering amount of taxpayer money involved demands a bipartisan board to ensure accountability and oversight.

Show your support and encourage your friends and family to join you:

http://my.barackobama.com/ourplan

The failed economic policies and the same corrupt culture that led us into this mess will not help get us out of it. We need to get to work immediately on reforming the broken government -- and the broken politics -- that allowed this crisis to happen in the first place.

And we have to understand that a recovery package is just the beginning. We have a plan that will guarantee our long-term prosperity -- including tax cuts for 95 percent of families, an economic stimulus package that creates millions of new jobs and leads us towards energy independence, and health care that is affordable to every American.

It won't be easy. The kind of change we're looking for never is.

But if we work together and stand by these principles, we can get through this crisis and emerge a stronger nation.

Thank you,

Barack

VoteNoBailout.org hits the streets
Demonstrations scheduled for 150 cities throughout the United States

 

 

 

vnb3
When more than 1,000 workers demonstrated on Wall Street, VoteNoBailout.org volunteers were there with signs and flyers.

 
Labor unions, community organizations, student groups, peace organizations and thousands of other unaffiliated individuals are taking part in demonstrations all around the country to say "No to the Bailout Legislation."

VoteNoBailout.org signs and leaflets were distributed on Wall Street today in a demonstration of more than 1,000 workers organized by the New York Central Labor Council.

Tell all of your friends to send a letter to elected officials through VoteNoBailout.org today! Download and print flyers to distribute in your community and at protests in your area opposing the bailout.

Printing leaflets, flyers, posters and banners on an emergency basis costs money. If you would like to make an urgently needed donation, you can do so by clicking this link.

The grassroots movement of resistance to the Grand Theft Bailout is sweeping the country. More than 130,000 letters have been sent through the VoteNoBailout.org website to members of Congress telling them to vote "no" to the bailout legislation.

The bailout package takes our money and gives it to the same bankers and executives who drove the economy into the ground. The pay for chief executives of large U.S. companies is now at 275 times that of the average worker's salary in 2007. It was 25 times greater in 1965. The same bankers who will be given our hard-earned tax dollars refuse to support even the bailout of their own institutions if their obscene salaries are even slightly compromised.

Bush and top leaders of the Republican and Democratic Party are poised to sign this legislation. The so-called concessions by Bush and the bankers are basically a fiction. This is the biggest power grab in U.S. history. It is also one of the biggest transfers of wealth from working families to the ultra-rich in the history of the United States.

If you would like to make an urgently needed donation, you can do so by clicking this link.

 

A VoteNoBailout
To-Do List:

1) Download and distribute a VoteNoBailout flyer
2)
Send a letter to Congress
3)
Tell a friend about VoteNoBailout
4) Put
this button on your site or blog

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