Wednesday, October 15, 2008
US nationalizes banks, candidates talk economy
the Real News network
October 15, 2008
Mike Whitney: Both candidates promote stimulus but real solution is higher wages
US President George W Bush made the radical announcement on Tuesday of the partial nationalization of the 9 of the nations leading banks. The move to part ownership by the government, was made to ensure that the banks won't be hoarding their bailout money, but use it to bolster lending -- to each other and to customers. The Presidential candidates also announced their economic proposals to deal with the current financial meltdown.
The current Neocorporate Cabal occupying the White House has been running things from the top down for almost eight years, and has pretty much confirmed that my opinion of a "George Duhbya Bu$h" presidency would be one of war and wasteful spending.
The idea of feeding the monster that has contributed to war, greed, and untold debt on the people of America makes me want to spit nails. The banking industry is the single most profitable business on the planet, and the Federal Reserve consists of the wealthy elite who are supposed to be the economical guru's of finance. So Duhhbya himself has decided to front them hundreds of billions of dollars to lift us out of the mud, while "we the people" lose our jobs and homes. Arrgh* isn't it about time to start working from the bottom up? ...G: