financial bailout

The House voted down the taxpayer bailout of America's richest thugs. And the TSX dropped a record 840 points. Jack Layton just called all federal candidates to meet and discuss the impact the US financial crisis is having on our economy, but Harper just declined. Protest against the financial bailout of the companies who put the US into this crisis is growing rapidly (check this video as well). As a realnews correspondent has mentioned more than once, "this is weapons of mass destruction all over again." Essentially, the political elite are using the economic crisis as an opportunity to coerce the Senate and Congress to bailout the rich bastards that are responsible for this mess. Michael Moore's article at Alternet describes the bailout as the biggest robbery in US history. Fortunately, many US citizens are now wise to this totally unnecessary move to appease investors and the corporate elite. 

Does this spell the end for free-market Capitalism? Check out this fab ANP video on various economists' interpretation of the disaster. Also, be sure to check out Garland McLaurin's piece on the effect the sub-prime lending, behind this crisis, has had on middle-class US citizens.  read more »