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banks: Not a Dime! Stop the bailout - 09/22/08 09:09 AM
There is currently a horrifying proposal being fast tracked through congress by the President and Treasury Secretary Henry Paulson. Many members of congress have openly admitted they don't understand the situation and they aren't sure what to do.
I've called my senators offices and I was asked to organize people in a calling campaign. They want to hear what we have to say.
What's happening right now in our financial markets is a major event, regardless of what the government does, I feel it's going to have a major impact on us all. However I believe the proposal being … (14 comments)

banks: Privatized Gains, Socialized Losses - 07/07/08 03:44 PM
It's not secret that H.R. 3221 is about to move on to the president for signing.    What's less understood is that a section entitled "Hope for Homeowners Act of 2008" was written by Bank of America.  The effect of the bill is to offload from lenders some $300,000,000,000 of some of the worst performing loans to taxpayers. Senator Dodd (D CT) introduced the bill stating there would be no investor bailout, but a reading of the bill shows clearly that's what it is. Dodd has been in the limelight  more recently for improprieties related to preferential treatment he received from one of the main beneficiaries of this bill  Countrywide … (6 comments)

 

Caleb Mardini

Bellevue, WA

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