1.0 link 221002 <![CDATA[Risk of Major Social Upheaval Likely if Bank Bonanza Continues]]> http://www.huffingtonpost.com/marshall-auerback/risk-of-major-social-uphe_b_221002.html State and local governments have been forced into draconian budget cuts, firing workers who are among the most reliable in making their mortgage payments -- when they have jobs: firemen, policemen, teachers, civil servants.

Yet the Obama administration won't spend even a small fraction of what it has wasted on the banks to cover state shortfalls. The guarantee of $5.5bn in short term notes for California was deemed to be fiscally irresponsible, yet hundreds of billions have already been allocated...

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