http://www.boston.com/...
http://uk.reuters.com/...
Meanwhile .. we all know about meanwhile. The malnutrition of the poor in America; children w/o adequate health care. The continuation of massive unemployment in urban areas. The destruction of the working class and manufacturing base. Our decaying infrastructure.
Billions pour in, to protect banks. The weasel words are "add liquidity", "stabilize the situation" .. in plain English, it's called a bailout. Funds are being shifted to protect assets. Billions are found at the snap of a few fingers to ensure that the rich and their interests in the stock markets are protected.
Doesn't this say it all about what is wrong in the world today? How much of those billions "trickle down" to feed the hungry, care for the sick? This 'liquidity' comes at a price, doesn't it? The already strapped middle and lower classes will be paying more for goods because of the inflationary pressures caused by this bailout. Typical.
Get ready to bend over [again] to "donate" and help save the rich from losing their investments.
Why are we being asked to bailout irresponsible lenders, incompetent bankers, outright criminal enterprises - all adding to massive windfall profits in multiple sectors of our economy. Who decides that billions are made available to cover for these incompetent and criminal actions? What accountability and transparency is required to the actions of the people who make the decisions?
When is Congress going to step in and stop this madness?
update;
A lot of the funding coming in to prop up our markets is coming from Japan and the EU .. those funds will not last long, and their investments are made upon the idea of getting their money back, with interest. These are loans, not gifts. Not only will they stop dumping money in, if they see our situation worsening, they may call. If they do, all hell breaks loose.
We might actually [horrors!] have to tax the rich! In the 50's and into the early 60's, the tax rate for people making more than $400,000 was 91%. Not a typo.
91% ..