portland independent media center  
images audio video
newswire article reposts united states

corporate dominance | government

The $700 Billion Bailout is a Fraud

The Bush administration's proposal to buy, with taxpayers' money, $700 billion of toxic liabilities from the corporate financial titans of Wall Street is a fraud. We should not be stampeded into the greatest corporate theft of public assets in the nation's history.
The distressed assets-that is, the losses-can and should be absorbed by the executives, directors and stockholders of the corporate banks and other institutions that propagated the financial firestorm. They can and should, as the dictates of the free market insist, stand accountable for their actions and accept bankruptcy. It is not the responsibility of the American taxpayers to shield them.

The welfare of the Wall Street financiers should not be the focus of public policy.

to read Richard W. Behan's article published on: Alternet.org, Sept 22, 2008, click on

homepage: homepage: http://www.mbtranslations.com
address: address: http://www.alternet.org

it is absolutely fraud and the Democrats are going to fall for it 22.Sep.2008 06:56

Ecotopian Yeti

This is like the conman that impregnates your daughter, steals your your life savings and while walking out the door says "I need a ride into town. Can I borrow your car?" Its a final good bye by the fascists. I bet they even have their bags already packed for "Bushland" Paraguay. Of course if the fearful Democrats and the La-La Land Republicans do go for this hook, line and sinker then maybe they can throw the country into a world depression and offer a Saviour figure (like Obama) to guide us into a goose stepping new Fourth Reich or Georgie could simply declare a State of Emergency and just stay in power until the crises is over.

Everyone one of you should be screaming "No!" and "Give me my basic human rights!"

Total Theft 22.Sep.2008 08:37

Den Mark, Vancouver

There are many reasons why this "bailout" is actually open-view theft. Those reasons are detailed elsewhere. We must make HUGE noise of dissent. Congress must hear from us, all of us, repeatedly, local offices & in DC.

It is easy & free to reach Capitol switchboard: 800-270-0309, 24/7. We must call over & over, & ask for:
- our representative
- our senator
- our other senator
- senate majority leader
- senate minority leader
- house majority leader
- house minority leader.
We should also call media & demand that they cover the truth of this theft.

A dozen people making these calls will have little impact. But hundreds of such calls will not be ignored. CALL! & spread word to CALL!

another note 22.Sep.2008 11:04

Ecotopian Yeti

Hmmm... I have to wonder what the general opinion now is about Impeachment? About the truth behind 911? About these endless wars? About the basic social net? I bet even the most well quenched pot-bellied kool-aide drinking average right winger is thinking "fuck this government!"

I've seen a sea change in people's attitudes 22.Sep.2008 12:43

Exile portlander_in_exile@yahoo.com

I live in right-wing-ville. And I've noticed something very important to us all.

The people that are currently in power are neither liberal, nor conservative. You can't get a real conservative, or Liberal elected.

Have you noticed, that they never do what they say their doing? That's because if they actually did, there would be uprisings of unimaginable proportions. They media is just as complicit in supporting this myth.

Never forget, they want real liberals & conservatives fighting. As long as we're focused on eachother, this wrecking crew will continue to rob us of our wealth, rights & Power.

Please, for your own sake, follow the money. if you look closely enough, both of the current candidates are dirty with campaign funding from the very criminals that perpetrated this heist. Yes, both Barak, and John, are members of the wrecking crew.

Ten Reasons Why Bush's Proposed Bailout Is Larceny 22.Sep.2008 15:09

Deborah White (repost)

Here's a common sense plan from Senator Bernie Sanders 22.Sep.2008 18:09

Don't let them just hand you the bill

without demanding real reform!

The Sanders Plan For Financial Recovery

(1) The people who can best afford to pay and the people who have benefited most from Bush's economic policies are the people who should provide the funds for the bailout. It would be immoral to ask the middle class, the people whose standard of living has declined under Bush, to pay for this bailout while the rich, once again, avoid their responsibilities. Further, if the government is going to save companies from bankruptcy, the taxpayers of this country should be rewarded for assuming the risk by sharing in the gains that result from this government bailout.