The good news in America today is that many of the lies from our leaders and media no longer seem to be working. Four out of five people view the current proposed financial reform as ineffectual. Many in Congress who voted for socialism for the rich now look like they will be voted out for continuing those giveaways.
Now the only way those banksters can survive is to pretend that their corporate communism is working even in the face of overwhelming evidence to the contrary. Most recently, they decided that instead of taxing complicit financial institutions the cost of their "Financial Reform-In-Name-Only," they will instead use what I call the Big Tarp Lie to pander for the vote of Senator Scott Brown and others.
The mainstream media rarely fights back against this lie, either due to an inability to understand, a desire to protect their access to these same politicians and bankers or an unwillingness to go up against the very same financial institutions that are often the only thing between them and the unemployment line.
However, we the people have to fight back against these lies -- and thankfully we own the truth.
This lie must be beaten back by all of us like whack-a-mole every time it rears its ugly head. Please help me by sending this information to any politician, media figure, banker, neighbor or robot that you find repeating it -- they can take our money, but they don't own the truth.
Let's break it down:
1. TARP itself hasn't even made money. AIG alone still owes us $75.6 billion. However, they always add the caveat "Other than AIG..." when they say that the bailouts were "profitable." But the AIG money was directly paid to many of these same banks that "paid back their TARP" at an outrageous 100 cents on the dollar! Mind you, this was done by government officials that were the former employees and current shareholders of the very banks they were helping. Let's make banks like Goldman Sachs, Bank of America and Societe Generale pay back the $105 billion of stolen taxpayer money before we let anyone say "TARP was paid back."
2. TARP is a tiny little part of a massive amount of taxpayer support. TARP is actually less than 10 percent of your tax dollars that have been handed to the banks. And now the banks "paid back" the tiny slice that is TARP with our money, and you are supposed cheer them for savvy. At this very moment, the taxpayer is still owed $2.02 trillion dollars for the bailout by our politicians and banksters, and that number is growing every day.
Never mind the money that these same banks make getting endless 0 percent interest loans from the Federal Reserve (aka you) while either they lend it back to you at 14 percent interest or just lend it right to back the government and pocket the yield. Never mind the multitude of benefits they get from being Too Big To Fail. But you're not supposed to pay attention to that; you're only supposed to notice how fast they paid back TARP!
So instead of these politicians looking for the only obvious place to find the money -- clawbacks from the people who continue to steal it -- we are now being subjected to outright lies as they once again pick the banksters over the people who voted them in. But don't let them, or anyone in the media, get away with it without hearing from you.
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Most of the "stimulus" money was not directly invested into the economy in a manner that seems to be helping average Americans. I suspect much of the financial market in the USA is benefiting from overseas investments.
I wonder what would have happened if we left the "Too Big To Fail" group Fail. Somehow I think many average Americans would still be suffering - because we always seem to have to clean up the mess.
Maybe the banks that were insolvent would have told us we couldn't get our money out because they didn't have it. Would the FDIC have stepped in the make good on our accounts? - I don't think so. I think the bank stress test results were kept low-key in most news outlets because the financial world didn't want a "run on the banks" - a bank panic.
This administration is at a crucial point - it's time to show the people who they really are. Which side are they on.
Reinstate Glass-Steagall and the Sherman Antitrust Act, and walk away from the WTO, GATT, NAFTA;
Defang the IMF, World Bank, and close down the Federal Reserve. Restore money-issuing power to the U.S. Treasury with strict oversight;
And what's with the G-20 poobahs pretending to speak for the rest of us. Who gave them ANY authority?
The kid is supposed to believe that '(s)he's bought' something because Mom gushes over the gift that "(s)he bought her"! To the kid, it makes no sense. But that's the economics we teach 'em. And, we're still
teaching it.
I don't give people hell. I tell them the truth and they think its hell.
Harry Truman
$4.74 TRILLION DISBURSED
$13.88 TRILLION MAX. AT-RISK
$2.01 TRILLION OUTSTANDING
http://www.sourcewatch.org/index.php?title=Total_Wall_Street_Bailout_Cost
Argentina is the first South American country to give their gay citizens marriage rites, meanwhile back in America, legislators both Federal and State are busily finding all kinds of legal ways to deny gay American citizens the right to marry and American judges think these unconstitutional laws are A-OK and one can only conclude that America's legal systems are regressing back into the dark ages where war criminals, mass murderers, torturerers, oppression or enslavement of minorities, jailing without trial and mass corruption were prevalent.
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Washington DC got a taste of what it would be like to live in the rock and roll state!!!
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Tony Hayward has a strong resemblance to that toothy, freckled fellow on Mad Magazine and considering his fantasyladened, fairy tale, delusional comments during the past 3 months about HIS OIL SPILL he would be a perfect model for the cover of Mad, of course, Tony also represents the main talent of America's CEO's which is that special gift for spreading around thick and wide all that BS!!!
The points you make are so outrageous!!
TARP itself hasn't even made money. AIG alone still owes us $75.6 billion. However, they always add the caveat "Other than AIG..." when they say that the bailouts were "profitable." But the AIG money was directly paid to many of these same banks that "paid back their TARP" at an outrageous 100 cents on the dollar! Mind you, this was done by government officials that were the former employees and current shareholders of the very banks they were helping. Let's make banks like Goldman Sachs, Bank of America and Societe Generale pay back the $105 billion of stolen taxpayer money before we let anyone say "TARP was paid back."
Why isn't AMerican standing out in the streets screaming!!!! and demanding a change. What in h3ll's name is the tea party doing if they claim to be about conservative fiscal business. How have they overlooked these truths that Dylan Ratigan is hanging before our face?
This is a crazy world we live in where we chose to overlook the insanity and pretend it is other than what it is. Dylan Ratigan - thank you for saying "No More" to the insanity. Thank you for chosing to shine a light on the truth and force to look at it. Thank you for taking the moral highroad in your choice of career. You are something of a lonely beacon.
Shine on Dylan Ratigan - shine on.
I think this place is so CLEARLY out of control, that the average citizen is scared to death and has lost touch with reality.
You are a voice of truth and reason.
You believe that Americans are intelligent enough to understand complex issues.
You are a new kind of journalist at the right time for America.
DYLAN RATIGAN - I thank you.