Remember when, during the 2008 presidential campaigns, Bush announced that the financial sky was falling? All the candidates rushed to D.C. and the massive bailouts for Wall Street and banks began.
Read this article by Matt Taibbi about what really happened and why the taxpayers are on the hook while Wall Street enjoys huge bonuses and record profits. The next time you hear some politician scream about our debt and reducing spending, you’ll have the real scoop. Taibbi has done a masterful job of explaining it all.
I’ve read somewhere that there is no way the powers that be would allow a Democratic president to inherit a surplus. The policy seems to be, Republican presidents run up the deficit and the Democratic president spends his whole term(s) trying to balance the budget, usually by cutting popular programs that the public would never allow a Republican president to cut (see what happened when Bush tried to privatize Social Security…it was dead on arrival). Americans need to wake up to this and not vote Republican for at least 50 years. No matter how disappointing the Democrats can be at times, the alternative is much much worse.
50 years of no republicans would be like paradise
It’s pretty much old news to me,but it’s good to see mainstream mags,
like “The Rolling Stone” putting the story out there,for the people that don’t like to do much digging for themselves.
It was old news to us, too, Daz. But I was struck by how informative the article was, how Taibbi really connected the dots.
Since Bush, the corporate corrupts haven’t even tried hiding the fact they are fleecing the rest of us. They lie, and aren’t held accountable for anything they do. Very like the Olde King: entitlement, privilege and “divine right”. It really is hard to stomach. Sometimes, I have wished I didn’t care so deeply.
ditto, deb
I read that the other day. They were handing out money to anyone that would take it!
I read part of it the other day and then the whole thing today. Depressing. Appalling. All the rest of it.