Explanation of Fed and Treasury actions

HR 3808 is a Bankers Bailout of massive proportions by pardoning and legitimizing their fraudulent actions.

The Washington Post believes that it is the exclusive role of government to redistribute income upward to the rich. They hate it when government acts to benefit ordinary workers.

Public pension funds would not be facing a crisis if economists’ projections of stock returns had been accurate.

Adding a little personal commentary and context to Krugman’s post on deflation.

I was just browsing around today at Open Secrets. org when I noticed that Citigroup has contributed $853,930 to PAC’s and Individual Campaigns for 2010. Citigroup; the bank that American taxpayers bailed out to the tune of $45 Billion, only $31 Billion of which has been paid back. So let me get this straight; I bailed them out because they didn’t have any money. I know that’s simplistic, but stick with me. They were bailed out because they could not meet their obligations as a bank..translation: had no money. But for 2010 they have $850,000 to use to influence legislation. Sounds logical. I hope if I ever owe The Feds $14 Billion that they’ll look the other way while I try to bribe my favorite elected officials.

David Brooks wants to caricature progressives as fans of big government and conservatives as free market advocates, but this is not the ways things break down.

If financial reform is so great, great! That means we can finally end all those programs giving public monies to private actors.

The co-chairman of President Obama’s deficit commission, who wants to take away the Social Security benefits that retired workers have paid for, gets $335,000 a year from a Wall Street bank that was rescued by taxpayers.

Erskine Bowles, the co-chair of President Obama’s deficit commission, is apparently just making numbers up to push his case for cutting Social Security and the media think this is just fine.