Tuesday, September 30, 2008

Was the $700 Billion Bailout of Wall Street Necessary? Answer: Hell, NO!!!

You would have to look long and hard in the so-called mainstream media to find any hint that taxpayer bailouts of Wall Street are not only bad for tax payers but they don’t even begin to solve the problem! Want to know why?

Listen to Dennis Kucinich explain it to Amy Goodman on Democracy Now!:


Dennis is not the only member of Congress who actually understands the nature of the problem and why a Main-Street-favorable solution is the ONLY SOLUTION (see next) but he sure is lucid in answering Amy’s questions.

Rep. Marcy Kaptur (also a Democrat from Ohio) explains this on the House floor to her fellow Representatives, most of whom seem to have stepped out:


Otherwise, you may be interested in reading “How Wall Street Can Bail Itself Out without Destroying the Dollar” by Thom Hartmann


And finally, there is the article "A Better Bailout" by Joseph E. Stiglitz, a renowned American economist and the winner of the Nobel Prize in economics:


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