Congress to Make Taxpayers Bail Out Bank Gambles

The new budget includes provisions to force Americans to underwrite bank gambles in the derivatives market. Michael Snyder writes at the Economic Collapse blog: “New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses.” If the quadrillion dollar derivatives bubble implodes, who should be stuck with the bill?  Well, if the “too big to fail” banks have their way it will be you and I.  Right now, lobbyists for the big Wall Street banks are pushing really Read more […]

The Oligarchy Inside The Oligarchy: Who Writes These Laws That No One Reads?

The headline at CNS News says it all: “Who Read 1,582-Page $1.1T Spending Bill? Congressman: ‘Nobody Did’” When asked whether he read the 1,528-page,  $1.1 trillion government spending bill before he voted for it yesterday, Rep. Earl Blumenauer (D-Ore.) said, “Nobody did!” On Capitol Hill on Thursday, asked Blumenauer: “The omnibus bill yesterday, it was 1,582 pages, did you have a chance to read all the pages before voting on it?” Blumenauer laughed and said: “Nobody Read more […]

Paul Ryan Justifies Cutting Veteran Pensions: “We Just Freed Up $6 Billion For Readiness”

In other words, we just freed up $6 billion for military contractors and other people who have lobbying budgets. Here’s the full audio courtesy of the Daily Caller. Right out the gate Paul Ryan appeals to the need to deal with a supposed “readiness” crisis. Of course, that totally rings true because Hawaii and Alaska and the Lower Forty-Eight are in constant danger of invasion from a foreign superpower. No, I’m being sarcastic; it doesn’t ring true at all. Our last domestic attack Read more […]

John Boehner Thinks Opposing More Debt Is “Ridiculous”

Boehner is having a hissy fit that Republicans in Congress do not want to vote for his budget deal. He can’t blame them, of course, and he can’t attack the voters. So he tried yesterday to blame others for pressuring people in Congress. “They’re using our members, and they’re using the American people for their own goals. This is ridiculous,” he said at a Republican news conference. “Listen, if you’re for more deficit reduction, you’re for this agreement,” he snapped. I don’t see any way Read more […]