Welcome login | signup
Language en es fr
OccupyForum

Forum Post: Bailout Update

Posted 2 months ago on Feb. 12, 2014, 10:05 p.m. EST by JGriff99mph (507)
This content is user submitted and not an official statement

In case you haven't been paying attention - or are busy with your life and didn't see it on any msm news- the bailouts of Wall St keep coming.

This was the 17th month in a row of the elites and DC giving Wall St tens of billions of dollars. For free. To purchase "toxic assets".

For 17 months in a row, your "leaders" in Washington DC have sat on their thumbs quietly ignoring this stark reality- thieving by the top to the tune of 75-85 Billion per month. And here's best part. Its built in.

This isnt something where Congress has to get together to decide on a bailout (like that would really make a difference, right?). Nope, its planned. Its a set policy.

The policy of your current government is to steal tens of billions per month and give it to Wall St. Thats not my opinion, that is a fact.

So while all the talk of economic this and economic that keeps going, the real culprit sits quitely and is making more money than they ever have before:

Wall Street.

While the state was busy shutting down Occupy, they were also busy figuring out how to make Wall St even more successful than ever.

So what the hell is our fuckin problem? Not just me, or just you, but everyone. The entire nation. Have we collectively lost our fuckin minds where this is the policy our so-called "representatives" create?

http://www.chicagotribune.com/business/sns-rt-us-markets-bonds-20140211,0,5812113.story

Sidenote: To anyone who takes these elitists words seriously like "continue the taper" get over it. Who shorted what and who went long before the speech, insider paradise. At your peril.

Playing games with your retirement with press conferences. Great system, eh?

4 Comments

4 Comments


Read the Rules
[-] 1 points by ZenDog (20422) from South Burlington, VT 2 months ago

Tea Party Pussies don't like the bailouts either . . .

but lets see . . . What did Senator Sanders have to say . . .

We must act he said. Sounds to me as if he is saying: to do nothing is not an option.

so. Lets see . . . what's the deal . . .

  • The Fed said that this bailout was necessary to prevent the world economy from going over a cliff. But three years after the start of the recession, millions of Americans remain unemployed and have lost their homes, life savings and ability to send their kids to college. Meanwhile, big banks and corporations have returned to making huge profits and paying their executives record-breaking compensation packages as if the financial crisis they started never happened.

  • What this disclosure tells us, among many other things, is that despite this huge taxpayer bailout, the Fed did not make the appropriate demands on these institutions necessary to rebuild our economy and protect the needs of ordinary Americans.

  • For example, at a time when big banks have nearly a trillion dollars in excess reserves parked at the Fed, the Fed did not require these institutions to increase lending to small- and medium-sized businesses as a condition of the bailout.

  • At a time when large corporations are more profitable than ever, the Fed did not demand that corporations that received this backdoor bailout create jobs and expand the economy once they returned to profitability.

  • I intend to investigate whether these secret Fed loans, in some cases, turned out to be direct corporate welfare to big banks that used these loans not to reinvest in the economy but rather to lend back to the federal government at a higher rate of interest by purchasing Treasury Securities. Instead of using this money to reinvest in the productive economy, I suspect a large portion of these near-zero interest loans were used to buy Treasury Securities at a higher interest rate providing free money to some of the largest financial institutions in this country. That is something that we have got to closely examine.

.

So what does all this mean?

1 the bailouts were unavoidable, 2 there has been theft 3 it must be addressed 4 doing nothing was not an option - wait, I said that already.

.

and you can find more actual information from the following:

Wall Street Bailout - Senator Bernie Sanders of Vermont www.sanders.senate.gov/.../press.../wall-street-bailout‎ Bernie Sanders Oct 1, 2008 - The Senate approved a $700 billion Wall Street bailout. Senator Bernie Sanders voted against the bill that would put Wall Street's burden on ...

Sanders Billions for Bailouts! Who Pays? - Senator Bernie Sanders ... www.sanders.senate.gov/.../sanders-billions-for-bailout...‎ Bernie Sanders Sep 19, 2008 - The Official U.S. Senate website of Senator Bernie Sanders of Vermont.

Bernie Sanders Exposes 18 CEOs who took Trillions in Bailouts ... www.politicususa.com/.../bernie-sanders-exposes-18-ceos-trillions-bailou...‎ Oct 25, 2012 - Sen. Bernie Sanders fired back a 80 CEOs who wrote a letter lecturing America about deficit reduction by a releasing a report detailing how 18 ...

Federal Reserve Directors' Banks and Businesses Took $4 Trillion ... https://www.commondreams.org/.../12-9‎ Common Dreams NewsC... Jun 12, 2012 - A report released today by US Senator Bernie Sanders (I-Vt.) has revealed ... who directly benefited from financial bailouts after the 2008 crisis.

Sen. Bernie Sanders: Billions for Bailouts! Who Pays? www.huffingtonpost.com/...sanders/billions-for-b...‎ The Huffington Post Sep 19, 2008 - Sen. Bernie Sanders. Independent U.S. Senator from Vermont ... middle class of this country to spend many hundreds of billions on a bailout.

Sen. Bernie Sanders: A Real Jaw Dropper at the Federal Reserve www.huffingtonpost.com/...sanders/a-real-jaw-dr...‎ The Huffington Post Dec 2, 2010 - But, the details on this bailout are now on the Federal Reserve's website, and this is a major victory for the American taxpayer and for ...

The Fed's $16 Trillion Bailouts Under-Reported - Forbes www.forbes.com/.../the-feds-16-trillion-bailouts-under-reported/‎ Forbes Sep 20, 2011 - Bernie Sanders (I-VT) amended the Wall Street Reform law to audit ... of the United States government should be allowed to bailout a foreign ...

Bernie Sanders Exposes 18 CEOs who took Trillions in Bailouts ... www.democraticunderground.com/101645...‎ Democratic Underground Oct 25, 2012 - 6 posts - ‎4 authors Many of the CEO's who signed the deficit-reduction letter run corporations that evaded at least $34.5 billion in taxes by setting up more than ...

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts ... beforeitsnews.com/.../audit-of-the-federal-reserve-reveals-16-trillion-in-s...‎ Sep 7, 2012 - Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but ...

[-] 2 points by JGriff99mph (507) 2 months ago

Doing nothing was not an option? Depends on what your long term goals are.. Short term pain for long term gain (Iceland) or all out corporate fascism (USA).

Stating we had to do it is akin to stating that we must keep the King in power because without him it would be chaos.

Again, all depends on what the long term goals are. Iceland showed us the way, we were just too scared to do it. Those are some smart, tough people over there. Here, not so much.

To those that say they would simply regroup in time, they are right. Thats all humanity is, a constant struggle between the elites and the rest of us. Anything, imo, is better than simply rolling over and forking over whatever they say they need.

But again, this post is not about the initial bailouts. Its about the bailouts that are now part of our government policy. The result of rolling over to begin with. Unlimited, planned thieving.

What would your county be able to do with 28 mill a month for the last 17 months, knowing its going to keep coming? Probably some pretty amazing things. Fix the roads, give the teachers a raise, housing for all, etc etc etc.

[-] 2 points by ZenDog (20422) from South Burlington, VT 2 months ago

as you can see from the chart we have not yet attained an unemployment rate similar to what we had before the meltdown - and it's been six years . . .

  • so I suppose that means it all depends on what you call LONG TERM
[-] 1 points by JGriff99mph (507) 2 months ago

Do you feel the worst is behind us?

[-] 1 points by ZenDog (20422) from South Burlington, VT 2 months ago

do you have any idea what you are asking? You do know that Global Warming is not simply around the corner - it's here - as the ice in Atlanta tends to illustrate. Given that fact, I cannot sit here and say I think the worst is behind us, regardless of what we do or do not do regarding the economy.

It seems entirely reasonable to presume that the economic health of the nation will directly impact the prospects of survival for much of the populace once the full impact of Global Warming is realized.

It is of course entirely possible that I am completely wrong about that. It is entirely possible that the harder life is now, the better our collective chances will be once those full impacts are upon us, for we will already be inured to the hardship of survival.

But it does seem to me, regardless of repelican policy, that government does have an appropriate role, both in maintaining the economy and in mitigating global warming. And if we can just get these stupid fukers out of the way perhaps we can get government back to doing what it is and has always been intended to do - provide for the people in ways that the people individually cannot do for themselves.