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Many Cynical About New Administration's Wireless Broadband Initiative

This initiative, which is based on an uneducated vision and speculation, without any real knowledge is going to be a nightmare for the industry.

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Wall Street Breakfast: Must-Know News

The thing that people should notice is that the Federal Reserve has to allow GMAC to become a bank when the Fed is a private bank primarily owned and governed by the richest elite families in the world. To get any loans from U.S. Taxpayers as a bank, you have to meet terms specified by these elite families and they and only they approve your qualifications. The car companies' survival depends upon the approval of these same people. If you work in the auto industry, you job exists at the whim of the elite. Your life exists based on whether or not the companies you depend on to live it meet the terms dictated by a small number of elite people. The only way that your life will be successful is by making sure that much of it is spent making these people wealthier and giving them more power. You thought you were free. You also think that you are being fed correct information about the car companies and their union by the media that they own.

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Citigroup: Another Ad Hoc Bailout

Unlike the auto bailout, this bailout doesn't allow us to keep our jobs or generate commerce plus, they were not adversely affected by the economic crisis. They caused it. After already giving them $25 billion, they are still foreclosing on our homes, charging us loan shark rates on our credit cards, and refusing to loan money to business resulting in more lost jobs and no commerce whatsoever. We should first demand a management change and a plan. What is to guarantee that, after we bail them out, they don't just go out and do the same things that got them to this point all over again only to have us left holding a lot of worthless stock. Get rid of those corporate jets and the high salaries and bonuses. Otherwise this is just more money after bad.

ewebsmith.com/gov/Bank...

Fed Watch: Policy Totally Adrift; Be Afraid, Be Very Afraid

Oops. We need a management change and get rid of that corporate jet. After a trillion dollars they are still foreclosing on our homes, thousands of people are losing their jobs and hundreds of companies are closing up everyday.

The Fed has been primarily responsible for this. In all fairness, Bernanke didn't do it alone. Greenspan started it and Bernanke finished the job. The next step is to lower the interest rate, create some more money out of thin air, and throw it at the banks so they can cuddle with it.

ewebsmith.com/gov/Bank...

Fed Balks at Releasing Toxic Waste Details

The average taxpayer shouldn't worry about repayment unless they are also citizens and worried about their country. The credit cars companies have preyed on the population loaning them money and raising the interest rate until they have taken every last dime. Now that no money is going towards the purchase of goods and services, their greed has destroyed the country's economy and we are expected to bail then out.

ewebsmith.com/Finance/...

Economy Contracts, Spending Turns Negative

This is not a consumer driven recession. Consumers have been stripped of their wealth by special interest driven legislation, wars, unchallenged illegal immigration, cheap foreign labor, offshore manufacturing, and predatory lending practices by financial institutions.

Too much of consumers' money is going to pay interest. Government legislation, the Fed, and the banks have stripped consumers of their wealth. The economy will not recover until consumers do. Lowering the interest rate and throwing money at banks and other corporations is not going to fix the problem. It is only going to make matter worse when the resulting inflation sets in. Banks are going to have to take their lumps along with everyone else. To reduce the severity, banks need to lower interest rates on credit cards, mortgages, personal loans, and lines of credit. Congress also needs to stop fooling around with things that stimulate the economy like tax credits for renewables and they need to stop bringing cheap foreign labor into the country.

ewebsmith.com/Finance/...

Nation's Debt: It's Not Being Rescued, It's Being Moved Around

Don't expect these robber barons to put their money on the line now that they have it all and the entire world operating on a credit basis. Stop giving the banks money. They are just hording it and refusing to give it out. They are intentionally worsening the problem like they did during the Great Depression.

The reason that the founding fathers didn't allow for regulation at the federal level is that they knew, as we are seeing now, that this would lead to the government being run by business and that business would eventually strip the population of its wealth. In a free market, every single penny comes from the population. If the population has no money, the market fails.

The government is now trying to replace the population as the source by giving money directly to business, but business will still have no one to sell their products to no matter how much you give them. The only fix for this is to put money in the hands of the population, but our government no longer thinks in terms of the Citizens.

Now that Congress has spent, given away, and wasted $11 trillion of the population's money, we have a problem.

If you want to stop this madness, go here.

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Batten Down the Hatches: Economic Forecast

It's a little late to batten down the hatches. The boat is already swamped and that last $700 billion did it.. That tends to happen when you borrow, spend, and give away $11 trillion. It's time to start bailing and you can't do it with the same cash that swamped the boat.

What happened to that $700 billion, anyway. This was such an emergency need that surely they must have used a large chunk of it by now in addition to the $400 billion that the Fed send out to foreign banks while Congress was approving the $700 billion. To hear Paulson, Bernanke, and Bush tell it, the banks were all sitting around with their mouths open gasping for air.

In the meantime, we noticed that Federal Reserve Stock holders Chase and Citigroup are going to make out like bandits buying up assets for pennies on the dollar.

Now the headline reads, "Housing must mend to see economic recovery". What was the purpose of the $700 billion?

We weren't born yesterday. Washington was and they have been scammed again. As soon as we replace the Congress members and Senators that voted for this bill next month, we need to raise their salaries to say, $1 million so we can attract some talent to the next election.

ewebsmith.com/finance/...

The Benefits of a Bailout Plan

Yeah, and they've got WMD too. Bush first helped the military industrial complex take the population's wealth and now he is trying to help the banking industry take the rest of it.

Perhaps this bailout, like rising gas prices that are causing us to move more aggressively towards renewable clean fuels, will also wake up the Citizens and the outcome of the election will be changed.

What the banking industry did was, literally, a crime and what they are trying to do now is, literally, a crime against the United States.

What the government by the people and for the people is missing is that the banks are not in a position to demand or dictate terms as they come begging. They are weakened and we are the United States Government. We get to specify the terms and if they don't like them, they can go somewhere else.

If the Fed continues to not play nice, we can point out that it exists illegally and start printing Treasury notes at any moment and begin distributing them to a massive number of banks that would sign up over night. We can finance the auto and construction industries that the banks are now squeezing. We can then begin to use the interest to pay down the national debt.

We are the United States of America and it is really infuriating to see our Senators grappling at the banking industry's feet. These guys need to stand up for their country.

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This Financial Crisis Too Shall Pass

What we are seeing here is the aftermath of one of the largest scams in history. It helps that 24 of these banks are under investigation by the FBI. They intentionally made bad loans and then hid them in mortgage backed securities and sold them to investors. Congress enabled this with legislation and the Fed created the money. It will be interesting to find out if this was an attack on our economy by foreign enemies, now referred to as trading partners, who were allowed to have ownership in our banks.

Maybe, like rising fuel prices that are encouraging us to develop alternatives, this is a good thing and we will, with some miracle, move away from the major parties who have just given us the same for the last Century.

There is a plan B. ewebsmith.com/bus/taxp...

Details of the Financial Bailout Package

The alternative is that taxpayers and their future generations don't assume the bad debt that bankers intentionally created for themselves at all. The alternative is that the banks loose instead of our children.
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5 Failures of SEC Chairman Cox

These are not failures. These are exactly what was planned.

They scared you enough to give away your liberty, they sacred you enough to give away some of your money to the military industrial complex, they exploited the American Dream to take away most of what you had left, an now they are trying to scare you enough to give away your children's money by threatening you with the disaster you already have if you don't do it. It's time to call their bluff.

All these people had to do was renegotiate loans to ones that could be paid. They would rather die than lose one penny of profit. There is no way to make this good but there is a way to make it not as bad and give your children a fighting chance.

Preserving U.S. Economy Over Free Markets (Short Sellers)

There is no reason for the government to buy up all of the bad debt that the banks created and dump it on the taxpayers. These guys have their fear mongering down to a science.

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Who's to Blame for IndyMac's Failure?

If there were no OTS, it wouldn't have happened.

In the wake of the Fed and quasi-deregulation generated .com collapse, the Fed lowered the interest rate to prop up the economy. Next, Congress passed legislation making it harder to declare bankruptcy.

The additional money supply and lenders' protection against bankruptcies encouraged them to make really bad loans.

If the Fed did not exist and Congress would stop its illegal regulation of industry, things like this wouldn't happen.