It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
This week we have a corporate biased, but very well done, PBS documentary Commanding Heights.
Contained within this video are the Russian and 1997 Asian Financial Crisis, the Great Depression and Globalization. Also is the admittance that the interactions and dependencies of global markets, financial markets is not well understood.
Congress Presentative Brad Sherman (CA-27th) is strongly speaking out on the latest version of the Emergency Economic Stabilization Act of 2008 (Bail Out Bill) and in particular exposing how foreign banks, investors will get billions and billions of American taxpayer money.
One must wonder why Congress is hell bent on passing a plan when so many economists are questioning it even working at all and while other more proven approaches are available.
Congressman Peter DeFazio issued a press release showing the the bitterness of these so called sweeteners being dangled before our representatives on Capital Hill:
Let's take a moment to watch some videos on what is really happening on main street. Note, by voice vote the entire Senate turned down Bernie Sander's attempt to get the people who got filthy rich from this disaster....pay for it. Nope. Senators instead turn reality on it's head and claim they are not doing what they indeed are doing...bailing out Wall Street.
This one is about a Southern California Area Called the Inland Empire:
The claim by the Fed and Treasury that spending $700 billion of public money is the best way to recapitalize banks has absolutely no factual basis or justification. - Nouriel aka Dr. Doom Roubini
I woke up this morning to see the blog buzz word of the day is Nationalization as Economics bloggers hunt for thesolution to the financial crisis.
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