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Forum Post: After Hundreds of Billions in Bailouts, Wall Street Preaches Austerity for Main Street

Posted 1 year ago on Dec. 2, 2012, 11:49 a.m. EST by TrevorMnemonic (5827)
This content is user submitted and not an official statement

Washington, Nov 30 -

“You think cutting Social Security, Medicare and Medicaid should be part of a budget deal?

“America’s economic collapse was fed by Wall Street greed in the form of a $6 trillion housing bubble. This brought large budget deficits. Some who were at the center of the housing crash are pushing for deep cuts to social programs to cure the budget deficit.

“The CEO of Goldman Sachs, which received a $10 billion direct bailout and tens of billions of dollars in loans at below market interest rates, has preached about cutting Social Security benefits and increasing the retirement age.

“While Wall Street was bailed out with hundreds of billions of tax dollars from Main Street, Main Street Americans lost more than 40% of their wealth from 2007 to 2010. Nearly one in six U.S. residents is officially poor -- the highest rate in 50 years. Twenty-two percent of U.S. children live in poverty. We are today facing an economic situation that resembles the years leading up to the Great Depression.

“The prevailing budget plan calls for deep cuts in spending on education, environmental protection, Social Security, Medicare and Medicaid –while corporations and the top 1% would get tax cuts of nearly $3 trillion over the next decade. This is not how to protect a Democracy.”

Push the Middle Class Off the Cliff? No WAY!

This is the full text from Congressman Dennis Kucinich from a speech he gave in Congress.

13 Comments

13 Comments


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[-] 1 points by hchc (3297) from Tampa, FL 1 year ago

Dont worry, Im sure they are slobbering all over themselves on the Sunday shows as usual. I cant even watch that bullshit anymore.

There's 76k pages of tax codes, and these idiots are arguing over 4.5% at the very top. What a joke. Who on earth would vote for these idiots?

[-] 0 points by dreamingforward (394) from Tacoma, WA 1 year ago

Here's a clue for understanding. All of WallSt is part of Novus Ordo Seclorum -- the antichrist. Mix it with the Atlantic Ocean and watch what happens.

[-] 0 points by TrevorMnemonic (5827) 1 year ago

Is it not yet obvious that we have a Wall Street Government and have for a long time now?

Goldman Sachs gives millions to campaigns... they get roles in high places. Henry Paulson for example. Get 10 billion in bailouts and billions in loans at below market rates.

[-] 0 points by VQkag2 (16478) 1 year ago

The current Admin got very little wall st contributions. (repubs got that money)

The Dems creation & support of fin reform (watered down by corp 1% tool repubs) has made dems pariah & persona non grata amongst wall st.

Just fyi.

But we must pressure all pols to pass stronger fin regs and reliefe to mainstreet.

[-] 1 points by TrevorMnemonic (5827) 1 year ago

Any fuck that voted for the TARP bailouts and any fucks accepting money from these corrupt banks, no matter what amount, needs to be out of the government. The government is for the people, not Wall Street fucks.

The bailouts were driven by fear not fact. They did not save the economy. They saved the bank frauds and kept people in debt to banks.

It's time for a new system. And anyone not supporting legislation like HR 2990 or new ideas on monetary policy are just in the way.

Any fuck working for monetary policy that is solely based on giving unlimited resources to Wall Street needs to GTFO

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 1 year ago

I'm with you there.

[-] 1 points by VQkag2 (16478) 1 year ago

Yeah. fuck, fuck, and fuck again.

My way or no way.

How close are we to getting HR 2990? The repubs won't let it come to a vote! I doubt the Dems would either, if they had control of the House. And I believe their is only one supporter on it. And the repubs redistricted his sorry ass out!

Fuck!

But if we got enough 3rd party House members we could do it. Let's kick all the existing pols out. elect 3rd party pols who support HR 2990 and get this done. Fuck!

Agreed. Sound like a plan? Let's get started.

Should we let the existing fucks just pass whatever laws they want until we kick them all out? Fuck!

Or should pressure all pols to pass change that benefits the 99%?

Fuck!

[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

Im with you on that one also.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 1 year ago

I am so thoroughly amused by the reaction to policy discussion on this forum. Can I interest you in a bumper sticker?

[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

Sure why not.... we could do.. "Hit me Im with you" haha (as a reaction to Im with stupid)

[-] 0 points by richardkentgates (3269) from Fort Walton Beach, FL 1 year ago

It's a very important issue. Don't place too much importance on lack of response from this forum. These are not working class folks so not much substantive support can be expected. The media is taking notice today, all day it looks like so far, but the causes are still being ignored which means solutions are still very far off.

[-] 1 points by TrevorMnemonic (5827) 1 year ago

What is the media saying today?

[-] 0 points by richardkentgates (3269) from Fort Walton Beach, FL 1 year ago

A lot of cheer-leading for the working class. But as I said, no substance on cause and effect. I'm sure if it stays in the media for too long, the skirting and excusing will begin again.