| By Ken - Mar 9th, 2009 at 10:56 am EDT |
| Also listed in: 1stProtestinTheStreet.Org | Blue Biz | Broom Brigade | CivicSatisfaction.org | Denver County | Operation Bird Dog- Colorado |
Isn't it about time to have our government start a new financial system? Bloomberg News has estimated that we are now in debt to the tune of over 11 trillion dollars for bailing out grifters. The biggest rip off in history.
Sign this to tell Congress no more bailout money for con men. It is time to start a new financial system.
Firedoglake.com has a petition to sign.
- The Fed's Vice Chair Donald Kohn has refused to comply with requests from both the House and the Senate for the names of banks receiving federal funds, angering Republicans and Democrats alike.
- Bloomberg estimates that the government has spent more than $11.7 trillion to save the financial system since the crisis began, but Fed has refused to comply with Bloomberg's requests for details under the Freedom of Information Act.
- We know now that $80 billion of the $162 billion used to bailout AIG went to pay off its derivative trading partners at the full value of their contracts, despite the fact that values had tumbled. Economist Nouriel Roubini calls it "a nontransparent, opaque and shady bailout of the AIG counterparties: Goldman Sachs, Merrill Lynch and other domestic and foreign financial institutions.
- The House passed the TARP Reform and Accountability Act on January 16, which would provide increased conditions, transparency and accountability for Wall Street bailout funds. The Senate is refusing to take up the legislation."













Comments are closed for this post.