Bailouts
Goldman Sachs Reveals Where Bailout Money Went — Overseas Banks (Tax Payer Money At Work)
Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions, according to information made public Friday night.
Read the whole story at USA Today
Obama Officially Begins Push For New Bailout Of The States
It’s clear from recent news and official government stats that the budget cutting at the state level is proving to be a real drag on growth, via lost jobs.
Not surprisingly, Obama wants another bailout.
NYT (via Calculated Risk):
In a letter to Democratic and Republican Congressional leaders, Mr. Obama said the “mounting employment crisis” in the states […]
Next Bailout:Democrat lawmaker proposes $165 billion bailout for unions (What’s America Turning Into?)
Taxpayers could be on the hook for another $165 billion if a bill to bail out private union pension funds makes it through Congress.
A Democratic senator is introducing legislation for a bailout of troubled union pension funds. If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers.
The bill, […]
32 States Borrowed $37.8 billion from the Federal Government to Make Unemployment Payments; California Has Borrowed $7 Billion (Collapse of America?)
EconomicPolicyJournal.com has learned that 32 states have run out funds to make unemployment benefit payments and that the federal governmant has been supplying these states with funds so that they can make their payments to the unemployed. In some cases, states have borrowed billions. As of May 20, the total balance outstanding by 32 states […]
America Bailing Out Europe - Republican Amendment Would Bar U.S. Bailouts of Foreign Nations
A growing number of Republicans say Americans have seen enough bailouts at home, and their tax dollars should not be going to rescue foreign governments.Sen. John Cornyn (R-Texas) on Wednesday introduced an amendment to the financial regulatory reform bill that would bar American taxpayers from bailing out “irresponsible” foreign governments.
The amendment would require the president […]
Bailouts for the dropouts?
With the stroke of a pen, the socialist Obama administration has nationalized the student-loan industry. So far, so bad. The first casualties will be 2,500 of the 8,000 employees at Sallie Mae, formerly the largest provider of student loans. Don’t be surprised if the laid-off end up drawing government paychecks as Uncle Sam muscles out […]
Economists Warn Another Financial Crisis On the Way
Even as many Americans still struggle to recover from the country’s worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
In the report, the panel, that […]
GENERATION ZERO (Must See Movie - Financial meltdown and who is behind the $700B bailout)
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The current economic crisis is not a failure of capitalism, but a failure of culture. Generation Zero explores the cultural roots of the global financial meltdown - beginning with the narcissism of the 1960’s, spreading like a virus through the self-indulgent 90’s, and exploding […]
Next in Line for a Bailout: Social Security (Wake Up America, Vote a Good Change, Not for a Socialist)
Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system.
A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits.
Instead of helping […]
U.S. to Lose $400 Billion on Fannie, Freddie, Wallison Says (This is really sad - What’s America turning into?)
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Read the whole story at Bloomberg.com