The True Cost of the Bailout by Bloomberg News Reporter |
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| By: wendydavis Monday November 29, 2010 3:33 pm | |
Bob Ivry at Bloomberg on Need to Know. If it’s been posted here before, my apologies.
You can write the diary; I don’t need to; but it will be hard not to think what’s ahead in the way of ‘sacrifice’ for us.
Afterward, grab some popcorn, and watch this Chris Hedges video, The Death of the Liberal Class. It will be hard not to think what’s ahead in the way of ‘sacrifice’ for us.
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12 Comments
Sorry; I flunked video embedding again.
Wendy, go to the youTube page, click on share and copy that url
Then paste that url on its own line in the visual window and it should show up as a video on your diary.
thanks for your diaries :)
Thanks, Elliot. I tried the url, but it didn’t produce the video. then I tried the embed code, but forgot to change it to HTML. I get frustrated, and feel like an idiot. ;o)
And thank you, Elliot, for all you do and write.
That’s a pretty big number, but perhaps the final tally will be much larger. See: http://www.politico.com/news/stories/0709/25164.html
Wonder what ‘gross potential support’ means? Backstopping? Implicit guarantees? Real support they don’t want to admit to?
Investigate the Fed!
Videos are our friends, wendy, you have to learn to get along better with them. :)
Don’t feel alone, I’ve had some trouble embedding videos too, I’ve been pretty sure I did everything right, but the video just doesn’t show up. It always has eventually, but sometimes it takes 3-4 tries.
Great video, Wendy, glad you pointed this out. Would really like to know if anybody else at Bloomberg will be as ballsy as Mark Pittman was; they do have some great reporters there.
Thanks for the encouragement, Rusty. If I try a few times and fail, my mind finally goes “KAPOW!” Luckily, Rayne is always gracious about ‘having my back’, though I hate to press my luck so often. ;o)
Yves Smith had it at nakedcapitalism, I think. I was flabbergasted, one: at the enormity, even though there had been so many reports that the Fed was pumping up the banks outside of TARP, and two: that who knows how much of the back-stopping money may eventually be paid out?
All this juxtaposed against the background of trillions for ever-extended wars and occupations, billions of bucks ‘missing’ in the ‘theaters of war’, but we’re supposed to ‘sacrifice to decrease deficits’???
It’s as though any remaining revenue streams are fair game now. Some freaking hubris.
I had no clue Bloomberg had such a ballsy staff!
“Did the Fed make any mistakes?” No, Alicia, there were no mistakes. It worked very well. Next time even better.
Bloomberg does have some pretty great journos. The problem for most of us political wonk-types is that we don’t read Bloomberg as much as other outlets because Bloomberg is so business-centric. AP, Reuters, UPI all have more and broader beats to cover.
Thank you Wendy for both these videos, but particularly the interview with Chris Hedges. His conclusion at about 19:20 affirmed what I have suspected and expected for about a year now. That the works of FDR and the New Deal were a lucky historical anomaly and future outcomes to our multiple crises are more likely to be fascist. Moral nihilism – every man for himself.