Saturday, January 15, 2011

The Fed Has Spoken: No Bailout for Main Street Friday 14 January 2011

THE CRIMINAL CLASS BANKER BOYS HAVE SPOKEN.  "GO LIVE IN YOUR CAR, WE DO NOT GIVE A SHIT".

 by: Ellen Brown, t r u t h o u t | News Analysis

"The Federal Reserve was set up by bankers, for bankers, and it has served them well. Out of the blue, the Fed came up with $12.3 trillion in nearly interest-free credit to bail the banks out of a credit crunch they created...

...On January 7, according to The Wall Street Journal, Federal Reserve Chairman Ben Bernanke announced that the Fed had ruled out a central bank bailout of state and local governments. "We have no expectation or intention to get involved in state and local finance," he said in testimony before the Senate Budget Committee. The states "should not expect loans from the Fed..."

GO.READ 

SEEMS TO ME, PRESIDENT OBAMA COULD AT LEAST CALL BERNANKE AND HIS CRONIES ONTO THE CARPET AND TELL THEM THEY MUST WORK DILIGENTLY TO HELP ORDINARY CITIZENS, BUT I AINT HOLDING MY BREATH WHILE WAITING...

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As Jim Hightower explains it, is that “the wealthiest 1 percent of Americans possess more net worth today than the bottom 90 percent of us combined. Worse, these privileged few and their political henchmen have structured a new economic ‘normal’ of long-term joblessness, low wages, no benefits or worker rights, miserly public services, and a steadily widening chasm between the rich and the rest of us.” We must restore sanity to this nation.