Category Archives: bailout
The EU tried to tax Cypriot savings accounts up to 10% in exchange for a bail-out of the banking system. The attempted heist was broken up by the Cyprus parliament with 36-0 vote. So now the Cyprus banks are closed until Tuesday awaiting plan B.
Arnold Ahlert says the world banking system is running out of other people’s money -”we’re all Cypriots now”.
In return f
Eric Holder’s Justice Department sued Standard and Poor’s for giving bad advice. That bad advice consisted of high ratings the company gave for mortgage backed securities leading to the 2008 meltdown.
Jack Lew, the president’s nominee for Treasury Secretary, worked for Citigroup’s subprime department during the time leading up to the 2008 meltdown. Lew was rewarded with a nearly million dollar bonus following Citigroup’s government bail-out.
In an effort to divert attention from Lew (okay I made that up), the White House released Justice Department documents justifying the killing U.S. citizens without judicial review. I didn’t make that up.
The campaign’s over, we’re 16 trillion in debt, and now our betters want to talk about avoiding the Fiscal Cliff.
In case you’re wondering just what the Fiscal Cliff is, you can go here. If you read it let me know.