Wall St. and the Fed Get Fatter, While Main St. Suffers (tags)
The greed of some of the Wall St. banksters, and the Fed’s inept policies, like condoning deregulation, are the real causes of the current financial meltdown. Nevertheless, the U.S. Congress has given them a green light to rake in trillions of dollars in taxpayers’ bailout money, with little or no public disclosure. The Fed’s functions should be taken over by the Treasury Dept. Main St. needs to be Congress’ prime concern, not Wall Street.
Alan Greenspan at the Feds: A Disaster for America (tags)
The supposed financial guru, Alan Greenspan, was nominated to head the Federal Reserve, in 1987, by that union-bashing dunce, President Ronald Reagan. At his confirmation hearing, the late Sen. William Proxmire (D-WI), exposed the fact that Greenspan’s economic forecasting record was “dismal” and “wrong” most of the time. In his book: “Greenspan’s Bubbles,” William A. Fleckenstein proves Sen. Proxmire’s instincts were prophetic.
Hey, General Assembly of MD: ”Reverse Deregulation!” (tags)
Most Marylanders can expect their electric bills to go up by $743 a year-a 74 % increase! In 1999, the legislature deregulated the industry. In a sweetheart deal, BGE was absorbed by Constellation Energy and required to begin buying its electricity on the open market. Meanwhile, BGE’s electric-generating assets, originally paid for by the people, were turned over to Constellation in “a cash-free shuffle.” The ratepayers are now being asked to pay again!
“Best Director” Oscar for Ports Brouhaha Production (tags)
The Iraqi War has been raging for over three years with hardly a peep out of the Congress and/or the Media. Now, a deal which would permit an Arab-owned company to manage stevedore operations in six U.S. ports has sent both into a feeding frenzy. Why? The U.S. Coast Guard is in charge of security at the ports, not the stevedoring outfit. Whoever is behind this ports brouhaha affair deserves an Oscar nomination for - “best director!”