Thorne Webb Dreyer, Editor
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Tag Archives: Bank Bailouts
The Last Days of Dubya : Plunder and Run
The Bush gang’s parting gift: a final, frantic looting of public wealth.By Naomi Klein / October 31, 2008 The US bail-out amounts to a strings-free, public-funded windfall for big business. Welcome to no-risk capitalism. In the final days of the … Continue reading
Posted in RagBlog
Tagged Bank Bailouts, Big Business, Bush Presidency, Political Corruption, Republican Party
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Surprise! : Banks to Use Bailout Bucks for Mergers
The Rag Blog reported yesterday, in a story titled Salary Bonuses Constitute 10% of the Bailout that pay and bonus deals for corporate bigwigs account for about ten percent of the government bailout package. Here’s more good news: Big banks … Continue reading
Posted in RagBlog
Tagged Bank Bailouts, Banking, Congressional Bailout, Economy, Financial Crisis, Monopoly Capitalism
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Salary Bonuses Constitute 10% of the Bailout
Demonstrators protesting in New York before the $700bn Wall Street bail-out earlier this month. Photograph: Nicholas Roberts/AFP/Getty imagesWall Street banks in $70bn staff payoutBy Simon Bowers Pay and bonus deals equivalent to 10% of US government bail-out package Financial workers … Continue reading
Corporate Contrition Is an Outdated Concept?
Members of the activist group ‘Code Pink’ waved signs marked with the words “shame” and “greed” when Richard S. Fuld Jr., CEO of now-bankrupt Lehman Brothers, arrived to testify before the U.S. House Oversight and Government Reform Committee on Oct. … Continue reading
Freddie/Fannie Pay to Prevent Regulatory Reform
Mortgage firm arranged stealth campaignBy Pete Yost / October 20, 2008 WASHINGTON — Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, … Continue reading
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Tagged Bank Bailouts, Bankruptcy, Congress, Lobbyists, Republican Party
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Remember, the Money Was There All Along
The God That Failed: The 30-Year Lie of the Market CultBy Chris Floyd / October 11, 2008 Perhaps the most striking fact revealed by the global financial crash — or rather, by the reaction to it — is the staggering, … Continue reading
Knee-Jerk Bailout Policy as Financial Cure-All? Here’s a Moderate Alternative.
Lower the hammer on knee-jerk policies.‘The following economic essay is an intelligent alternative to the current economic crisis response under Paulson and Bernanke.’By Roger Baker / The Rag Blog / October 13, 2008 Would the following moderate but sensible approach, … Continue reading
Posted in Rag Bloggers
Tagged Bank Bailouts, Economic Collapse, Economic Recovery, Economy, Wall Street Bailout
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Europe Blames US for Financial Crisis; Failure of Government Oversight
Failed British bank, Northern Rock.As crisis spreads, Europe points finger at AmericaBy Jenn Abelson / October 11, 2008 LONDON – Financial firms are reeling in the United Kingdom, Ireland, and the Netherlands. Iceland is on the brink of national bankruptcy. … Continue reading
AIG Proves Corporate America Has No Shame
AIG execs planned SECOND resort trip after bailoutBy Helen Kennedy, Daily News Staff Writer / October 8, 2008 Even as the White House on Wednesday branding it “despicable” for bailed-out AIG to spend $443,000 on a swank company junket, honchos … Continue reading
CODEPink Questions Henry Paulson’s Leadership
Should Henry ‘The Fox’ Paulson Guard the Henhouse?By Medea Benjamin / October 9, 2008 On Tuesday, October 7, a group of CODEPINK pranksters pranced in front of the New York Stock Exchange. One, wearing an oversized papier maché head of … Continue reading
Cook County Sheriff Stands Up to the Bankers
Sheriff Tom Dart has suspended evictions from buildings that have been foreclosed on like this one in Albany Park. From left: Tenants Mario Hernanzez, Dart, Maria Cruz and Gabriela Maciel with her son Diego. Photo: Al Podgorski/Sun-Times.Dart refuses to evict … Continue reading
