Bush is pushing for the Senate to confirm more of his nominees for Judges. AND, because the ‘bailout/rescue’ isn’t doing what the politicos said it would do, there is increasing pressure for the House to be called back into session and the Senate to come up with more ‘fixes’.
So ‘we’ -the taxpayers- must keep writing and calling BOTH House and Senate congress critters to DEMAND that they -NOT the FED or the Treasury- come up with plans AND to say to Bush, ‘Look, you’re gone; your policies have done nothing to help American’s and have actually harmed them, so shut up and get your lawyers ready because we WILL be coming after your and your cronies’.
Leave the hope that the election will ‘change things’ and demand that things change because WE want them to change NOW, not after an election.
Danny Schechter lays out Bush’s plans here:
http://www.mediachannel.org/wordpress/2008/10/06/the-bush-bullydozer-strategy-to-preempt-his-successor/
Bush’s bullshit about Judges can be read here:
http://rawstory.com/news/afp/Bush_urges_lame_duck_senate_to_appr_10062008.html
And the REAL story about the banks "It’s reasonable to assume that the banking system in the North Atlantic region is insolvent and would be bankrupt but for the reality of recent government bailouts and the expectation of future government bailouts.
Certainly, for the system as a whole, the marked-to-market value of its
assets is way below that of its liabilities. I strongly suspect that even the hold-to-maturity value of its assets is well below that of its liabilities.
Although the system as a whole is broke, there are no doubt individual
banks that are solvent. We may not, however be certain as to which banks
are solvent and which banks are not."
is here:
http://blogs.ft.com/maverecon/



4 Comments







I’m not sure why using the link button doesn’t work when pasting a url into the diary in compose mode or just pasting it but here they are:
http://www.mediachannel.org/wo…..ydozer-str
ategy-to-preempt-his-successor/
http://rawstory.com/news/afp/B…..62008.html
http://blogs.ft.com/maverecon/
When post the diary there is the little chain icon. Hit that to make a link. Thanks for the diary
I heard one strategy to ‘fix’ this mess – and it won’t cost the taxpayers a dime.
Pass a law that declares ‘credit default swaps’ null and void.
It’s the only way. I read somewhere someone figured that the ‘paper value’ of these scam derivatives is somewhere in the neighborhood of $68 trillion – more than the GDP of the entire planet!
I say, the greedy, crooked speculators were shooting craps when they invented these incomprehensible things, then traded them around like they were crack crystals at a party – pushing the prices higher and higher for what essentially is a worthless piece of paper – the time of reckoning has come. The chips will fall where they may. You guys reaped the benefits and so shall you reap the losses.
thanks ubetchaiam.