Forum Post: Bernie Sanders Calls Federal Reserve "Socialism for the Rich" After $16 Trillion Secret Bail-Outs, Including Foreign Banks.
Posted 4 years ago on July 30, 2012, 5:05 p.m. EST by LeoYo
This content is user submitted and not an official statement
Bernie Sanders Calls Federal Reserve "Socialism for the Rich" After $16 Trillion Secret Bail-Outs, Including Foreign Banks.
Monday, 30 July 2012 14:27 By Ralph Lopez, War Is a Crime | News Analysis
After 89 Democrats in the House voted in a victory for bipartisanship for HR 459 to audit the Federal Reserve, some jaw-dropping numbers are emerging as a result of a partial audit conducted this year. It is no surprise that the news is dropping with a dull thud in the media. That's why you should get your news from the Internet and sites like this.
Senator Bernie Sanders at his official website reports:
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."
The CEO Plan to Steal Your Social Security and Medicare
Monday, 30 July 2012 11:02 By Dean Baker, Truthout | News Analysis
Many people are following the presidential election closely with the idea that the outcome will have a major impact on national policy. However, according to Steven Pearlstein, a veteran Washington Post columnist and reporter, it may not matter who wins the election. In a column last week, Pearlstein told readers that the top executives of some of the country's largest companies are getting together to craft a budget package that they will try to push through Congress and get the president to sign.
Corporations Sell Longer Day, Chicago Teachers Aren’t Buying
Monday, 30 July 2012 11:10 By Howard Ryan, Labor Notes | News Analysis
[For an update on the Chicago situation, see Chicago Teachers Win Relief in Longer Day Battle, but War Not Over. http://labornotes.org/blogs/2012/07/chicago-teachers-win-relief-longer-day-battle-war-not-over ]
Teachers and labor activists nationally are watching high drama unfold in Chicago, where teachers have challenged "Mayor 1%" Rahm Emanuel with a stunning 90 percent vote to authorize a strike. The pivotal issue behind the showdown is the mayor's demand for a longer school day and school year, with a raise (2 percent) that doesn't match the increased teaching time (20 percent).
Chicago teachers already work an average of 58 hours per week during the school year, according to a recent University of Illinois report, "Beyond the Classroom: An Analysis of a Chicago Public School Teacher's Actual Workday."
On first glance, the mayor looks like another employer trying to squeeze more from workers—and he surely is that. But his push is also part of a bigger agenda. The longer school day and year is one of President Obama's top priorities for education.