Posted on April 21st, 2009 by gestroud 43 views
In the 1980s there was a banking crisis in the US caused by fraud in the Savings & Loan industry. How does today’s crisis compare? Twice as big, five times as big, ten times as big? Try 100 times bigger.
How did it happen? The people at the top of the biggest financial institutions were total crooks. Not a theory. A reality.
Posted on April 21st, 2009 by gestroud 11 views
Where is the Bailout Bill money going? You might be a little surprised – and a little disgusted to find out what banks are doing with the bailout money provided courtesy of the American taxpayer.
The Bush administration labels the$15 billion in the Neighborhood Stabilization Act of 2008 (HR 5818)—legislation to help stabilize hundreds of communities swamped by foreclosures across the country—as a bank “bailout.” Advocates of the funding in Congress and around the nation argue that the $15 billion is essential to keep communities from falling into blight, and [...]
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