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Entries Tagged ‘Capitol Hill’

Politicians and thieves

USA Today reported that in the past 10 9,094 politicians and political appointees have been convicted of crimes ranging from conspiracy, fraud, and bribery.
The US Department of Labor- Office of the Inspector General reports that in the past 8 years 4,043 Union Leaders have been indicted on charges ranging from briber, extortion and embezzlement, and [...]

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How bad, in theory, could this really be?

Take fractional reserve banking. For every $1 in the bank, $9 is created out of thin air in loans based on Modern Money Mechanics, a manual that was created by the banks to explain the system. By making up money out of thin air, the banks expect us to pay money on credit (the $9 [...]

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Bush: US Needs Bailout Bill At “Critical Moment” For Econ

WASHINGTON (Dow Jones)–U.S. President George W. Bush vowed Tuesday that the
House’s rejection of financial-bailout legislation won’t end the administration’s
drive for a rescue plan, saying a bill is urgently needed to avoid dire
consequences for the U.S. economy.
“As much as we might wish the situation were different, our country is now facing
a choice between government action and [...]

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Top US Lawmakers To Meet At 3 PM EDT On Bailout -Fox Business

Top US Lawmakers To Meet At 3 PM EDT On Bailout -Fox Business
Last Update: 9/26/2008 2:50:15 PM
DOW JONES NEWSWIRES
Top negotiators from both houses of Congress and both parties will meet at 3 p.m.
Friday to discuss Wall Street bailout plans, Fox Business reported, citing
sources on Capitol Hill. Fox said Financial Services Chairman Barney Frank,
D-Mass., and Senate [...]

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