The Obama/Dodd bailout machined - all fired up!

[WhiskeyGirl]

I saw Dodd on Imus awhile ago.  Wow.  The Obama/Dodd bailout machine all fired up and ready to start taking apart Main Street.

Dodd predicts more bubbles and collapses. 

Somehow, I don't think Main Street financial institutions created, or fed the financial bubble like Wall Street did.

Instead of endless bailouts, the Fed will now just take down institutions in danger - liquidate and eliminate competition.

Who'll be on the buying end of liquidation?  Will all those small banks get fed into Wall Streets casino like IndyMac?  Sold off to special interests?

When did Goldman and the other TARP/bailout buddies become the banking system?

It almost seems like Dodd couldn't wait to get started!!!

It wasn't OK to seize and dissolve banks like Goldman, and other TARP recipients, but it is ok to seize them from Main Street?  What is the worse thing that would have happened if Goldman and the others had failed? 

Would Main Street be ahead by maybe $5 trillion?  Less debt for future generations?

What real impact does Wall Street have on the common folk?  Are Wall Street players, the chains of debt?  Poverty?

[WhiskeyGirl]

Dodd also said something like 'we're finding out now that folks at the Fed knew about the financial crisis months before it happened'...

And, Dodd and Super Obama are wanting to give the Fed more power?  No oversight?  No robust, comprehensive audit of everything the Fed does?

The Fed remains accountable to NO ONE?  NO GOVERNMENT?

Just a big bubble and profit machine?

Folks were warning about Freddie/Fannie, liar loans, risky mortgages, suspect rating agencies, for YEARS.

Some in Congress wanted reform, YEARS AGO.  YEARS before the financial crisis.

The bubbled didn't build itself overnight. 

The Obama/Dodd bailout/ripoff machine will soon kick into high gear.

How many bubbles/crisis will there be on a monthly/yearly basis?

How much more will it cost taxpayers?

To big to fail, let them continue gambling, and now folks in the job rotation have the opportunity to squash anyone from Main Street that might be competition.

Nothing for Main Street, no jobs, no prosperity...

Does the future belong to the Obama/Dodd/Wall Street/Federal Reserve job rotation?  Rich global players?

Are we ruled by foreigners?  Are they taking everything, including the American dream?  That little slice of pie that was a promise to every generation?

[WhiskeyGirl]

MUMBAI: When the world’s biggest economy gambles with other people’s money, blaming smaller nations that pay the price only protects a system that’s flawed. Nobel Prize winner and Columbia University professor Joseph Stiglitz, a bitter critic of that system, tells ET why Greece can’t be blamed, why the US is in for another shock, and how Washington is still missing the point.

In one of the bleakest forecasts for the West, Mr Stiglitz forecasts more pain if economies in Europe and the US go on an austerity drive to improve their deficits. He is certain that there will be more mortgage defaults and unemployment in the US would not fall to normal levels until the middle of the decade. “We expect the number in 2010 to be larger than in 2009. Things are getting worse. That’s one of the reasons why I am not optimistic about a quick recovery.”

Mr Stiglitz is happy that India did not follow the policies prescribed by the US. “Our regulatory structure was flawed. I am glad that you didn’t follow (Henry) Paulson’s advice,” he says.

Will 50 million illegal immigrants/amnesty applicant's help or hinder that unemployment rate?

more here - http://economictimes.indiatimes.com/news/international-business/Crisis-in-West-will-only-get-worse-warns-Stiglitz/articleshow/5975093.cms