Hoovervilles

Why Geithner Sucks

In the corporatist scumbag selling out the American taxpayer kind of way:

The New York Times reports that Treasury Secretary Timothy Geithner “prevailed” against several top Obama aides in “opposing tougher conditions on financial institutions” in the debate on the bailout. Geithner successfully blocked “more severe limits on executive pay for companies receiving government aid” and replacing top bank executives and wiping out “shareholders at institutions receiving aid.”

There has to be more oversight. Those failed, incompetent and corrupt executive banking windbags stealing our money, right now, should be replaced. And the banks should be nationalized.

I am guessing it is going to get worse than this before the elites in this country start paying attention:

Wearing bright yellow hats and t-shirts with pictures of sharks and the words "Stop Loan Sharks," protesters had already targeted the home of John Mack, CEO of Morgan Stanley, at 6 Club Road, Rye, N.Y. earlier in the day.

At Frey's house, 10 Glenville Road, Greenwich, they chanted slogans such as "Fix our loans, save our homes." They placed furniture on the lawn to symbolize the dislocation felt by people who have had their homes foreclosed upon and been evicted, their belongings tossed outside by state marshals.

"We did it to make them feel what it must be like for someone to have their home foreclosed upon," NACA mortgage counselor Carmen Orta said.

Called the "Predators Tour" these actions were the start of NACA's "accountability campaign," an aggressive, confrontational protest aimed at several top executives of companies that refuse to allow NACA to renegotiate the terms of loans on behalf of members, according to NACA CEO Bruce Marks.

This is a fight over how to solve what is, IMHO, the 2nd Great Depression.

And the haves are already uncomfortable at giving up the 3rd vacation palace, the corporate jets, corporate paid and government subsidized vacation junkets and cutting back on their nannies time to save a few bucks. Just imagine what will have to be done to get them to pay attention to little people all around them - for no other reason than the fact that it is the right thing to do?

More below the fold via Land of Enchantment...

BBC proves that the recession is actually a depression

promoted, cho--

OK let's review. Last Spring, Bush said their was no recession. This summer, 'a few bumps in the road' - this fall, "Stormy weather", now, well their might be a depression, but my tax break will fix it.
My opinion of these changes reflect that there is indeed a serious recession and possible depression occurring, but our news media doesn't cover the issues.
At least BBC has covered the newest element of our spiraling economy - Bush's own 'Hoovervilles' are here.