Goldman Sachs Bribed Senate To Pass Bailout Bill

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--Complete CONTRIBUTION LIST: http://www.washingtonyourefired.com/goldman_sachs_2008_contributions.html

How much bribe money does it take to transfer $700 Billion taxpayer dollars to Wall Street's elite?







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1,500 Farmers Commit Mass Suicide In India

Over 1,500 farmers in an Indian state committed suicide after being driven to debt by crop failure, it was reported today. The agricultural state of Chattisgarh was hit by falling water levels. "The water level has gone down below 250 feet here. It used to be at 40 feet a few years ago," Shatrughan Sahu, a villager in one of the districts...

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1999: Congress passed bill easing bank laws.

Democratic North Dakota Senator Byron Dorgan Saw What Was Coming (and no one listened!)

" 'I think we will look back in 10 years' time and say we should not have done this but we did because we forgot the lessons of the past, and that that which is true in the 1930's is true in 2010,' said Senator Byron L. Dorgan, Democrat of North Dakota."

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It Was The Irresponsible Leveraging, Redirect The Blame

Enough Demonizing The Mortgage Holders, It Was The Irresponsible Leveraging

Over and over, it has begun to drone on throughout society and media. “Loser homeowners”, “irresponsible borrowers”, et cetera… the mantra is being touted the main reason behind the current financial collapse. The responsible parties at the helm of major banks and government have shifted blame to those who do not have the means nor the power to defend themselves. It is easy for the well-connected CEO’s and government insiders to get their faces on TV and get the meme of their faultless leadership into the public psyche.

...(A) major banking institution leveraging itself at 35:1 is not the effect of poor home loans but the irresponsible management and leadership of the institution.

The persons holding the cards look down upon and even blame the defaulting homeowners (they are not blameless, but are hardly the key players in the collapse), when it was the the banking lobbyists pushing to relax regulation and the Securities and Exchange Commission (SEC) who relaxed leveraging rules to allow banks more room to game the system. And when it all crumbled… it was the banking CEO’s with hat in hand before congress begging for the socialist handouts, not the homeowner who was being booted to the street for taking an ill-advised, poorly managed home loan that the banks were all too pleased to use as a means of leverage by granting to sub-prime borrowers.

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Jim Cramer Gets PWND By Jon Stewart On The Daily Show VIDEO

Having been slammed repeatedly by host Jon Stewart over the past few days for one-sided journalism, Cramer fled any real direct confrontation in his lengthy interview and instead went contrite — absurdly contrite. His voice went high and cracked, his thoughts fragmented as they left his mouth. Includes video.

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4 million lost health insurance since recession began

An estimated 4 million Americans have lost their health insurance since the recession began, and as many as 14,000 people could be losing their health coverage every day, according to a report by the Center for American Progress' Action Fund...also claims at least half of the 4 million who lost their insurance coverage still are uninsured...

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COBRA Coverage Prohibitively Expensive for Many Unemployed,

And now from the bloody fucking obvious department:The cost of buying health insurance for unemployed Americans who try to purchase coverage through a former employer consumes 30 percent to 84 percent of standard unemployment benefits, according to a report released yesterday.

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The bailout now costs more than anything else ever.

"There’s not much I like more than a good info graphic. With words like 'billions' & 'trillions' crowding the headlines lately, this one puts thing in perspective."


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Digg - Breaking: Circuit City Closing 155 Stores!

Digg - Breaking: Circuit City Closing 155 Stores!

According to anonymous insider tips, Circuit City is closing 155 stores and withdrawing from 12 markets. This will be officially announced tomorrow at 8am, says our source. A scan we received of a letter distributed to CC employees helps corroborate the story. The tipsters say that store employees were told this morning. No information was provided at that time about severance pay. Employees in certain departments, like car installation, and Firedog, will likely be out of a job within 48 hours. Warranties will still be honored. A Consumerist commenter on this post says this story is true, and a few posts in Google Finance forums also attest to the store closing. One post there says the store closings will be effective 12/31/08. The news wouldn't be entirely unexpected ...

10 Banks That Could Be Next To Go Under

IndyMac bank going under probably has you wondering, is my bank next? Various analysts are predicted that hundreds of small and regional banks could collapse in the next year. Here's the top 10 list of the nation's most troubled banks...

The list is determined by dividing the bank's non-performing loans by the sum of its tangible equity capital and loan loss reserves, what is termed the "Texas-ratio." Any bank with a ratio higher than 100 means they have more bad loans on the books than money to pay for them.

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U.S. Considers Takeover of Two Mortgage Giants

Under the plan, shares of Fannie Mae and Freddie Mac would be worth little or nothing, and any losses on mortgages they own or guarantee would be paid by taxpayers...In the last week alone, Freddie has lost 45 percent of its value, and Fannie is off 30 percent. Expectations of default at the companies have also risen; it costs three times as much today to buy insurance on a two-year Fannie bond as it did three years ago.

The companies are by far the biggest providers of financing for domestic home loans. If they are unable to borrow, they will not be able to buy mortgages from commercial lenders. In turn, that would make it more expensive and difficult, if not impossible, for home buyers to obtain credit, freezing the United States housing market. Even healthy banks are reluctant to tie up scarce capital by offering mortgages to low-risk home buyers without Fannie and Freddie taking the loans off their books.

A conservatorship or other rescue operation would be the second time in four months that the Bush administration has stepped in to engineer a rescue to prevent the financial system from collapsing. Last March, it forced the sale of Bear Stearns to JPMorgan Chase to avert a bankruptcy of that venerable investment house.

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Like Hitler, Republicans utilize the Big Lie

What the Republican party doesn't want America to see and realize.

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US Economy Staggers

Bloomberg.com: Worldwide: "The U.S. economy unexpectedly lost jobs in August for the first time in four years, sending stocks lower from Warsaw to Wall Street and increasing speculation that the Federal Reserve will be forced to reduce interest rates to counter an economic slowdown. "