$700 Billion!!! Hoodwinked again!

I don’t claim to understand it all, but what the hell?!!!
Don’t you get this tremendously awful feeling we are being hoodwinked? (Again!)

Does anyone mention that it was a veto-proof REPUBLICAN congressional vote that assured the passage of financial institution deregulation in 1996, AND that it was engineered by Phil Graham, the current “economic adviser” for John McCain.

Look up the Gramm-Leach-Bliley Act.
http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

My questions:

Who got us into this mess?
Who’s paying? (well, that one I can answer)
Who gets the money?
How do we ensure it is spent correctly?
How do we get our money back?
Who’s head will/should roll?

~ by christianliberal on September 20, 2008.

3 Responses to “$700 Billion!!! Hoodwinked again!”

  1. 1) Republicans for pushing for deregulation, democrats for going along with it (remember Clinton signed GLB into law), and Wall Street for not exercising judgment.

    2) You probably do🙂

    3) Wall Street fat cats in the form of their golden parachutes. Very little will “trickle down.”

    4) Good question, we’ll send that to committee.

    5) Well, the committee is going to have its work cut out.

    6) The answer is the same as how many people were punished for the Enron-style of scams.

  2. YES I do get a real sick feeling in my stomach when I hear of, read, or see this crap. We are being “RAPED” by our government and no one is out there going to stick up for us.
    But, if you want a little bit of humor in all of this…check my site out and “LOOK AT: NEED A LITTLE HUMOR TODAY…SEE WHO IS WANTED??? You might get a chuckle for once.

  3. It was only a matter of time before the chickens of speculation, bad debt, overspending and corporate excess came home to roost. The only problem is that the government bailing out these banks sends the signal that it’s okay if you screw up, the government will underwrite your losses. This might lead to even worse financial crises. Let’s hope Obama wins and sends the message that the corporate behaviour we’ve seen since Reagan’s era is unacceptable.

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