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Economy

IS GEORGE W BUSH AN ENEMY OF CAPITALISM?

Thomas Riggins | Was the nationalization of AIG an anticapitalist act? more...  0 Comments

"Wall Street Socialists" by Amy Goodman

Amy Goodman | The Wall Street debacle is bipartisan.
The economy is being sacrificed to save the gamblers (Michael Hudson). more...  1 Comments

AIG: Government Bails Out a Heavy Hitter

Lindsay Renick Mayer | From OpenSecrets.org  http://www.opensecrets.org/news/2008/09/aig-government-bails-out-a-hea.html
Of all of the companies facing major transitions over the last week, lawmakers owned the most stock in AIG. Twenty-seven lawmakers owned stock in AIG last year, worth between $6.4 million and $20 million...
Of all the companies making headlines this week, AIG has been the most nonpartisan in its contributions, splitting evenly the $9.7 million it has contributed over time. more...  0 Comments

FED BAILOUT/TAKEOVER, MORE OF THE SAME! THE WORKING PEOPLE NEED REAL, SOCIALIST

Doug Cupertino |
The Federal Reserve System bail-out of AIG means more of the same: more waste and diversion of working people’s tax money to speculation and Wall Street profiteering rather than to education, health-care, pension, civilian R & D, affordable public housing, public social insurance and safety nets.

The Fed is part and parcel of Wall Street. It is part of the old boy’s high-finance club. It means there is no real change in the substance of the management and control of AIG with the Fed takeover. It merely means keeping AIG geared to maximizing speculative profits rather than maximizing working people’s welfare. Handing over management and control to the Fed means more of the same. No real change.

It is continuing theft and fraudulent use of the working people’s tax money and the corporate profits produced by the working people. It is robbery of their income and productivity to be invested in corporate gambling rather than to funding that will concretely benefit rather than fleece the working people.

Wall Street and the Wall Street-driven media dish out the line that American capitalism is so healthy because the markets, that is, the private investors will work out its problems of plunging sales, bad debt, bankruptcies, lay-offs, skyrocketing gas prices, without the help of government and taxpayers money. Now, that lie is unraveling bit by bit. First, Bear Sterns. Then, Fannie Mae and Freddie Mac. Now, AIG. And Greenspan says, more is to come.

More of the same. A Wall Street bankruptcy passes on control to another Wall Street outfit, the Fed. Speculative profiteering first and foremost under the old Wall Street to new speculative profiteering of working people’s tax money and profits under a new Wall Street Fed management. More of the same!

What we need is working people’s tax money and profits to working people’s control and governance. Time to do away with Wall Street gambling and profiteering on working people’s money! Time to do away with Wall Street’s more of the same! Time to put working people’s welfare, education, health-care, pension, civilian R & D, safety nets and housing first and above all! Time to expose the Wall Street AIG fraud for what it really is! Time for real, working-class socialism!


The Federal Reserve System bail-out of AIG means more of the same: more waste and diversion of working people’s tax money to speculation and Wall Street profiteering and away from working people’s welfare. Fed takeover of AIG means passing on a Wall Street bankruptcy to a Wall Street outfit, more of the same. Time for putting working people’s welfare first, and real, socialist change.

The Federal Reserve System bail-out/takeover of AIG means more of the same: more diversion of working people’s tax money to speculation and Wall Street profiteering and away from working people’s welfare. Fed takeover of AIG means more of the same Wall Street control and management. Time for putting working people’s welfare first, and real, socialist change.
more...  1 Comments

FED BAILOUT, MORE OF THE SAME! THE WORKING PEOPLE NEED REAL, SOCIALIST CHANGE!

Doug Cupertino | The Federal Reserve System bail-out of AIG means more of the same: more diversion of working people’s tax money to speculation and Wall Street profiteering and away from working people’s welfare. Fed takeover of AIG means more of the same Wall Street control and management. Time for putting working people’s welfare first, and real, socialist change. more...  0 Comments

STOP THE PUBLIC BAILOUT OF A.I.G.! TIME FOR REAL CHANGE!

Doug Cupertino | The U.S. government is poised to bail out AIG with a conservatorship or new bridge loans. It hopes to help AIG’S top shareholders, directors and managers shirk their accountability for their failures and punish instead the taxpayer public. Stop the public bailout of private wealth! Fight for a real public take-over of AIG! Time for real, socialist change! more...  0 Comments

Bankruptcies Prohibited

Robert von Heusinger and James Galbraith | Capitalism is a system based on debts and credit. To function, it needs trust, trust that banks will always meet their obligations. Fannie and Freddie could not do this. Alan Greenspan promoted market forces after extremely overrating them. more...  1 Comments

WILL THE REAL "BATTLE IN SEATTLE" PLEASE STAND UP?

Seattle WTO Peoples History Collective | On September 19, Battle in Seattle, the new fictionalized movie about the mass direct action shutdown of and week-long street resistance to the World Trade Organization in Seattle in 1999, will open in theaters across the US. Some global justice and anti-capitalist activists will intervene on the opening day of the movie to urge moviegoers to get the real story and make some history themselves. more...  0 Comments

Interview with Michael Hudson on the Worsening Debt Crisis

Mike Whitney | "Fannie and Freddie have been loading up on risky mortgages for ages, under-stating the risks largely to increase their stock price so that their CEOs can pay themselves tens of millions of dollars in salary and stock options." more...  0 Comments

US capitalism nationalizes the housing market in an attempt to avert collapse

Sean O'Torain | Nationalization of the US housing market: a big blow to US Imperialism more...  2 Comments

Building Bridges Radio: Biggest Immigration Raid; Vietnam POW vs McCain

Ken Nash and Mimi Rosenberg | WBAI's Building Bridges: Your Community and Labor Report
presents this 28 minute radio program.
TO LISTEN CLICK ON WEB LINK BELOW more...  0 Comments

ECONOMIC CRISIS AFFECTS ELDERLY

Coalition In Defense of Immigrant Rights | Recession whatever they call it, marches on!

They called it “ jobless growth”, a “slowdown” an economic crisis and all politicians call it except by its true name. Why are they so afraid of this word? Although it affects everyone, politicians and bourgeois econimist refuse to call it by its name.

But the hard facts tells the truth. Now, the seniors and older Americans are the latest victims of these recession.

more...  0 Comments

The world could be radically different..time we start talking about real change

Sunsara Taylor | Sunday, August 24, at the Cleo Parker Robinson Theater in Denver, 300 people gathered to hear speeches by prominent representatives of the movements against the war, repression, and torture of the Bush regime. The following is an edited transcript of a talk given by Sunsara Taylor at this Evening of Conscience. more...  1 Comments

The RNC’S Outrageous Assault on Amy Goodman, Democracy Now!, and Alternative Media...This is What Imperialist Democracy Looks Like

Larry Everest | These attacks mark a serious escalation of police state measures against critics of the government, taking place in the context of the rightward march of official U.S. politics generally and the fascist tone of the RNC in particular. All this has big implications for everyone who wants a more just world.
more...  1 Comments

RNC ’08: Pit Bulls On Parade

Alan Goodman | If you thought, in the wake of the nightmare of the Bush years, and the euphoria of the Democratic Convention, that the political pendulum in the USA was swinging to the “left”…

If you thought that the Bush regime was so widely and bitterly hated that a repackaged version couldn’t seriously contend for the presidency…

If you thought that the Christian fundamentalist theocrats were passé…

Then you got a shocking wake up call from the Republican National Convention. more...  0 Comments

March For Our Lives: Gallery 2 from Poor People's March on the RNC

Mike & James (NYC) | Photo essay in two parts from Poor People's Economic Human Rights Campaign March on the RNC. September 2, 2008.
Part 2: Marching On the XCel Center more...  1 Comments

March For Our Lives: Gallery 1 from Poor People's March on the RNC

Mike & James (NYC) | Photo essay in two parts from the Poor People's Economic Human Rights Campaign March on the RNC.
Part 1: Rally, Repression, March Begins. more...  1 Comments

Building Bridges Radio: Obamanomics and Lily Tomlin on Health Care for All

Ken Nash and Mimi Rosenberg | WBAI'S Building Bridges: Your Community and Labor Report
presents this 27 minute radio program.
TO LISTEN CLICK ON WEB LINK BELOW more...  0 Comments

Happy Labor Day: Riot Police Defend the Mall of America from Workers

Mike GW & James Kautz | Starbucks workers and their supporters, 50 to 70 of them, converge for a rally today at the rail station at Lake and Hiawatha in downtown Minneapolis. The crowd comes to stand in solidarity with Starbucks workers in their fight to organize a union, the Starbucks Workers Union (SWU), with the Industrial Workers of the World (IWW), and to escort Erik Forman back to work at the Mall of America. more...  0 Comments

Today is the Donnell Library's last Day Open before Bloomie Tears it Down

Reb | The Bloomberg administration has sold the Donnell public library to a private luxury hotel developer! The library's final day of operation will be today, Sun. Aug. 31. A solemn day for public trust. more...  3 Comments

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