Prozac Nation or Bailout Nation? In an exclusive interview with RT’s Marina Portnaya, Les Leopold, author of The Looting of America says Wall Street with continue receiving welfare from the government while the people drown in debt.
Prozac Nation or Bailout Nation? In an exclusive interview with RT’s Marina Portnaya, Les Leopold, author of The Looting of America says Wall Street with continue receiving welfare from the government while the people drown in debt.
Quotes us little people don’t forget:
only the little people pay taxes.–Leona Helmsley
“Let them Eat Cake” – Marie Antoinette
“We’re doing God’s Work” -Loyd Blankfein
guns stop billionaires. That’s why they all push for anti-gun laws. The only thing left they fear is the common citizen with a gun that will sneak up behind them and their ferrari and put a bullet in their face.
Les is forgetting the golden rule:
He who has the gold makes the rules
that is a propagandist statement and you know it. you’re just sprouting poetry for some weird reason..Government, Taxpayer, Sun
im glad
it was a joke.
you start by having the guts to call someone ignorant, yet follow with a comment that literally lowered the IQ of whatever nation you are from. You cannot spend your way out of debt…
Les Leopold is an ignorant Communist!, He is against the the Bailouts that saved the US Economy.
If the Government didnt use Taxpayer money to bailout wallstreet, the sky was going to full down, the oceans would have ridden and the Sun would had exploded.
Les Leopold is a pathetic Obama apologist.
At what point do we do a sit-in on the Senate floor?
@MrSuperstench019 -
Ronald Reagan was long gone before the Democrats and their socialist “Housing Goals” agenda mandated and incentivized a flood of risky mortgages on the credit markets and zombiefied the banks.
“Bubba” Clinton, Barney Frank, ACORN and Obama (ACORN’s lawyer and Senator) are the guilty ones for running the risky mortgage shakedown of the economy.
++ if those ‘overleveraged pricks’ go under, so does the economy because they’re the ones with the lending power that keeps the economy operating -+++
I think we missed an opportunity to nationalize the banking system.
@MrSuperpunch019 How did Ronald Reagan fuck everything up ?
The Treasury and the Pentagon are nothing more than corporate welfare vendors, siphoning taxpayer money to corporations and banks.
Ronald Reagan fucked everything up.
Your anger is quite obvious. Did you forget your meds, again.
BTW, I worked at AIG. It’s $2 TRILLION,
@666sigma
Again you show complete ignorance of the facts of the financial crisis, as is the case with all crackpots.
If AIG was bankrupt, then it should have filed for bankruptcy protection.
But that was simply too systemically risky since this was just as the shockwave of the Lehman disorderly bankrupcy was causing a worldwide credit freeze and economic collapse.
An AIG disorderly bankruptcy would have been far worse than Lehman.
AIG did not write $2T in CDSs.
You’re a crackpot.
The government had no obligation to honor the obligations of a bankrupt company. AIG wrote $2 trillion worth of CDS that they could not back. GS orchestrated the AIG bail out.
You show your ignorance of blantant corruption between Wall Street and Washington.
So you bought the story? Now, who’s dumb? The government may have restored some confidence, but it cannot back stop Wall Street’s gambling. It’s too big. Too big not to fail.
Even if they felt the bail out was necessary, these corrupt pricks should have been thrown in jail so the morale hazard is eliminated. All they had to do was enforce SOX.
The derivatives casino should largely be shut down, not regulated.
Don’t mind this averageworkinggal aka Avg SHILL.
It’s paid to say stupid stuff.
As in…
It still doesn’t see anything wrong with 911.
@666sigma – you show tremendous financial system ignorance – if those ‘overleveraged pricks’ go under, so does the economy because they’re the ones with the lending power that keeps the economy operating – the Lehman shockwave is the perfect example of what happens when an ‘overleveraged prick’ fails.
@666sigma
Nothing was ‘backdoored’ to GS from AIG – AIG had a CDS contract with GS – Treasury was in control of AIG and several AIG counterparties, not GS, refused to take haircuts on their AIG CDSs- which meant lawsuits – so instead of trying to manage case by case arrangementsin a financial crisis, Treasury decided it was more efficient to treat everyone the same – so GS got par on their CDSs with AIG even though they would have taken a haircut.
You show your financial crisis ignorance.
Did GS repay the $13 billion backdoored to them through the AIG bailout? Moreover, GS is the one that ran to Tiny Tim at the NY Fed to get AIG bailed out in the first place.
GS promotes flash trading and shorted CDS at the same time they sold them to their clients.
Paulson belongs in jail along with most on Wall Street. The derivatives casino will collape, again, and I wonder if the government will realize that these overleveraged pricks are too big to save.
That’s right, Goldman Sachs (GS) is back in the “Liberty and the Free Market” because it ended its defacto nationalization by the US govt. by paying back all of its TARP funds with interest and with the extra premium to pay off the US govt’s future warrants on GS stock.
The US govt. made a handsome profit off its forced capital injection of TARP funds to GS.
Now GS is back in the Liberty of the Free Market and can pay its Billionaire Bankers what it wants to.
Nobody gave the bankers anything.
TARP was a short term direct capital injection to halt a financial panic and it resulted in minimizing the panic and the damage to th economy and was a defacto nationalization of the banks.
The defacto nationalization is still in effect for those firms that have not repaid their TARP funds, e.g. the PAY CZAR tells the TARP banks what they can pay their Billionaire Bankers.
Unsick banks like GS paid back their TARP funds and are back in the Free Market.