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Banks using TAXPAYER's $$ buy banks NOT HELP HOMEOWNERS!

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bridgit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-23-08 10:09 PM
Original message
Banks using TAXPAYER's $$ buy banks NOT HELP HOMEOWNERS!
 
Run time: 03:33
https://www.youtube.com/watch?v=KZXyDqq0ras
 
Posted on YouTube: October 23, 2008
By YouTube Member:
Views on YouTube: 0
 
Posted on DU: October 24, 2008
By DU Member: bridgit
Views on DU: 416
 
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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-23-08 10:20 PM
Response to Original message
1. People warned about this before the bailout.
Not on MSM, of course. But some economic folks warned about it.
Naturally, our Congress critters just rubberstamped the bill anyhow.
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bridgit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-23-08 10:26 PM
Response to Reply #1
3. I love what Greenspan said today and I paraphrase, 'I thought that banks would regulate...
'themslves...but they didn't.'
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JimWis Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-23-08 10:25 PM
Response to Original message
2. I watched this on C-Span today. All the senators complained
about it, and they were told that incentives were in place to keep banks from buying other banks with that money, but no real rules. So why can't they just make a rule against it? I confess I don't know enough about all that, but it irritates me that they are not all using the bail out money as intended. Thanks for posting this video.
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bridgit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-23-08 10:31 PM
Response to Reply #2
4. Can you imagine just handing Bonnie & Clyde 800bil$'s I mean please...
Laissez faire, no reg's no strings attached capitalism, like a brain-dead zombie roaming it's own destruction; seems the last to know that it; is; dead.
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