KUCINICH: "Country Needs to Save Homes and Jobs, NO MORE BAILOUTS"

KUCINICH: MARKET FALLS AGAIN
Submitted by davidswanson on Mon, 2008-10-06 19:13.

* Congress

Country Needs to Save Homes and Jobs, No More Bailouts

Washington D.C. (October 6, 2008) -- Congressman Dennis Kucinich, (D-OH), who is one of the leaders challenging the $700 billion bailout of Wall Street, said that in light of the continued decline of the stock market, the lack of meaningful protections for homeowners and the likely collapse of additional mortgage backed securities such as Alt-A loans, that Wall Street might seek additional bailout funds.

“Think about it. Congress passed a $700 billion bailout and the market is continuing to plunge! At 3 p.m., the market was down close to 700 points. Already economists and the news media indicate that the $700 billion bailout passed on Friday is not enough,” stated Kucinich.

“If Wall Street does come back for another bailout, we must be prepared in advance to say NO,” stated Kucinich. “The bailouts of Wall Street must stop. It will never be enough. When the Federal Government gets involved in picking winners and losers on Wall Street, we open up a financial whirlpool of insatiable greed,” he said.

“The fundamental problem that led to the credit crisis is that millions of homeowners are in jeopardy, and millions of people are out of work. Congress rushed to bail out Wall Street but sits on its hands when millions of homeowners are at risk,” he said. “The only way to prevent another bailout is to take action which will directly impact the market stress at its root - - the millions of homeowners who face default on their mortgages. This is the path toward market stabilization,” he said.

more at:
http://www.afterdowningstreet.org/node/36674

...I predict that everyone who voted for the $700 billion will vote for more, and everyone who voted against will vote No again, and so the bill will pass.

I don't know why people find this so hard to swallow- without jobs and people in houses paying their mortgage WE HAVE NO ECONOMY.

I've been saying this for quite some time.

Just get rid of Wall Street, Stock Market

Besides, you're talking Red Commie Bastard crazy talk! How dare you?!?!

:evilgrin:

Well, people looking at ticking stock market center look crazy and Red to me!

A kick for that scarce commodity, dished up regularly by Dennis Kucinich.

:kick:

Kucinich is on the right side of more issues that matter to me than just about anyone else in Congress.

Absolutely correct.

:kick: & R