Michael Moore: The Rich Are Staging A Coup This Morning (Swiping The Silverware On Way Out The Door)

[Hissyspit]

Via E-Mail:

Friends,

Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies -- who must soon vacate the White House -- are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.

No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story in last Monday's New York Times and you can see what the real deal is:

"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.

"Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.

"At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.

"Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."

Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to "consult" in the bailout.

The problem is, nobody truly knows what this "collapse" is all about. Even Treasury Secretary Paulson admitted he doesn't know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can't figure it out nor can he explain it to anyone.

And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! We must pass the bailout bill today!! The sky is falling! The sky is falling!

Falling for whom? NOTHING in this "bailout" package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.

Health insurance? Mike, why are you bringing this up? What's this got to do with the Wall Street collapse?

It has everything to do with it. This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth:

The number one cause of people declaring bankruptcy is because of medical bills.

Let me state this simply: If we had had universal health coverage, this mortgage "crisis" may never have happened.

This bailout's mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It's to protect the top shareholders who own and control corporate America. It's to make sure their yachts and mansions and "way of life" go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars!

I have to stop writing this and you have to stop reading it. They are staging a financial coup this morning in our country. They are hoping Congress will act fast before they stop to think, before we have a chance to stop them ourselves. So stop reading this and do something -- NOW! Here's what you can do immediately:

1. Call or e-mail Senator Obama. Tell him he does not need to be sitting there trying to help prop up Bush and Cheney and the mess they've made. Tell him we know he has the smarts to slow this thing down and figure out what's the best route to take. Tell him the rich have to pay for whatever help is offered. Use the leverage we have now to insist on a moratorium on home foreclosures, to insist on a move to universal health coverage, and tell him that we the people need to be in charge of the economic decisions that affect our lives, not the barons of Wall Street.

2. Take to the streets. Participate in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).

3. Call your Representative in Congress and your Senators. (click here to find their phone numbers). Tell them what you told Senator Obama.

When you screw up in life, there is hell to pay. Each and every one of you reading this knows that basic lesson and has paid the consequences of your actions at some point. In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!

Yours,
Michael Moore
[e-mail]
MichaelMoore.com

P.S. Having read further the details of this bailout bill, you need to know you are being lied to. They talk about how they will prevent golden parachutes. It says NOTHING about what these executives and fat cats will make in SALARY. According to Rep. Brad Sherman of California, these top managers will continue to receive million-dollar-a-month paychecks under this new bill. There is no direct ownership given to the American people for the money being handed over. Foreign banks and investors will be allowed to receive billion-dollar handouts. A large chunk of this $700 billion is going to be given directly to Chinese and Middle Eastern banks. There is NO guarantee of ever seeing that money again.

P.P.S. From talking to people I know in DC, they say the reason so many Dems are behind this is because Wall Street this weekend put a gun to their heads and said either turn over the $700 billion or the first thing we'll start blowing up are the pension funds and 401(k)s of your middle class constituents. The Dems are scared they may make good on their threat. But this is not the time to back down or act like the typical Democrat we have witnessed for the last eight years. The Dems handed a stolen election over to Bush. The Dems gave Bush the votes he needed to invade a sovereign country. Once they took over Congress in 2007, they refused to pull the plug on the war. And now they have been cowered into being accomplices in the crime of the century. You have to call them now and say "NO!" If we let them do this, just imagine how hard it will be to get anything good done when President Obama is in the White House. THESE DEMOCRATS ARE ONLY AS STRONG AS THE BACKBONE WE GIVE THEM. CALL CONGRESS NOW.

[BigBearJohn]

1. We need to spread this wide and far.

(I know, I know -- a lot of good that will do us. We're just cattle being herded into the corral for slaughter)

[rontun]

53. Please help me send a message to our Congressional delegation.

I've posted two polls on my local Democratic Party website that is read daily by my state's Congressional delegation, its staffs, and by most state Democratic Party leaders. The First Poll found at the bottom of this page asks "Do you support the proposed $700 billion bailout of Wall Street?"

The Second Poll found at the bottom of this page asks "Are you satisfied with the changes made in the $700 billion Wall Street bailout.

I believe it's essential that we let our representatives and party leaders know how we feel about this critical issue.

[BlueCaliDem]

56. THE BILL HAS FAILED! 227 Nay to 206 Yay. YAAAAAY!! eom

[BlueCaliDem]

58. Oops. One switched back. It's 228 Nay, 205 Yay - but it's still YAAAY!! eom

[bjobotts]

60. Thanks Mike. A fresh truthful perspective. Bail out the rich or they will make us pay??

[bjobotts]

62. Done at a crucial moment of the campaign. The rich lose nothing of the profiteering that caused this

[Pete2069]

70. Reputes will Make McSame the hero of the day

Reputes are saying that the democrats have made this political
when it started with McSame suspending his campaign to go back
to Washington because he was NEEDED to be their hero....
McCain is now on the news saying that Democrats have made
this political

You can not get in touch with our representatives because
most are not answering their telephones and we know d... well
they are paying no attention on reading their email...

[Pete2069]

90. Where do you find who voted No or Yes...

x

[rontun]

75. So far, both of my state's congressman have voted

against this bailout. I want to ensure that they continue to stand with the people on this issue as new proposals are floated in the coming days. Please, take a few moments and vote in the polls I've listed above. You know, and I know, that they're under enormous pressure in Washington. That pressure needs to be offset by the public.

[TxBlue]

2. KICK

[AzDar]

3. K & R

[northamericancitizen]

4. A kick and recommandation. Michael Moore nails it , once again.

[Pooka Fey]

5. K&R

[d_b]

6. K&R fuck these crooks!

[Dover]

7. Ah yes...."The Roundtable - Impacting Policy, Impacting People"

Indeed.

http://www.fsround.org/about/executive.htm

http://www.fsround.org/about/member_companies.htm

[lonestarnot]

8. Don't let them do it!

Thanks MM!

[Dover]

9. "Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! "

[Norrin Radd]

14. kr

[SammyWinstonJack]

27. Pretty good, huh?

Oh and K&R!

[MrCoffee]

66. Shut up! Bird flu is scary!

[anitar1]

10. K&R /nt

[Dover]

11. This coup began about 20 years ago....but who's counting?..n/t

[FraDon]

30. THIS coup started full force in 1933 ...

oddly enough with many of the same players (and their current descendants), and strategies. Neighbors, this coup has never ceased. We may need us a new Smedley Butler Brigade! • Aux Armes Citoyens! No JUSTICE; no peace.

[and-justice-for-all]

12. Why are they negotiating with terrorist?!

"Dems are behind this is because Wall Street this weekend put a gun to their heads and said either turn over the $700 billion or the first thing we'll start blowing up are the pension funds and 401(k)s of your middle class constituents."

I think my blood pressure just went up by 50 point!

[ForeignSpectator]

13. K&R

[Pastiche423]

15. The entire world will be hurt if a bill for corporate welfare

is passed any time soon. The United State of America is tightly tied to markets all over the world. When we fuck up, the other markets get the trickle down fucking.

My rep, Pete DeFazio agrees w/me. His words, " I am vehemently opposed to this bailout." He listed point by point why this should not pass, as well as giving common sense, workable solutions. Ending the email he said, "I will continue to challenge this bailout every step of the way." (Received 9.28.08)

I have been paying close attention to this man since I moved here eight years ago. I've grown to trust his judgment. In 2002, when it wasn't popular he voted NAY for the IWR. I am leaning on his judgment, in lieu of the fear mongering corporatists.

This bailout is just another name for We, the People's Final Screwing by the greedy cons that have been holding our democracy hostage for the past seven plus years. They are squeezing every last drop of our Treasury as they head out the door in four months.

The Wall Street sky maybe following, but four months can't make that much difference to the worker bees, who did NOTHING to cause or aid to cause the crisis. If the money mover can play by the REAL rules for a few more months, as well as inject some of their private wealth their landing won't be as hard.

I believe the Pottery Barn rule should apply. If you break it, you pay for it. The wizards of Wall Street (plus tons of deregulation backed by the Feds) broke the market. It should be they that fix it.

Please do not buy another mushroom cloud.

[Spike89]

55. Defazio is my guy too!

I admit that economics is not my strong point and I'm really all over the map on this bailout. However, if Pete says it is bad, well, I've never been disappointed in him before so I'm a believer.

[PsN2Wind]

59. I worked for Burley Design Cooperative

when they went under it cost me about $4000.00 in retained dividends. The government did nothing to save the coop or to compensate me.

[K Gardner]

16. Recommended. I am so torn. I don't know what to believe anymore.

[aquart]

17. If you're Charlie Brown, you believe Lucy.

I ain't Charlie.

[Not the Only One]

25. Believe your head and heart. You know instinctively this is corporate welfare.

Don't be fooled by paid off Democrats in leadership in DC who are pushing this. They don't care about you. They care about the donations to their PACs they get from the Wall Street rich.

[TheUnspeakable]

18. k&r-amen, Mr. Moore

[polichick]

19. Michael Moore is a true patriot!

[Imagevision]

45. Kick - baby...!

[riverdeep]

20. Moore's voice on this is urgently needed.

He has the ability to mobilize people and run smack into the face of the people selling us out.

[earth mom]

21. Michael Moore: a true American patriot and hero!

[debbierlus]

22. I am going to call now. I can't believe this shit

I am outraged.

Fuckers.

[MadrasT]

23. Kicked, rec'd, and spreading far & wide n/t

[Not the Only One]

24. Michael Moore for President!

Stop the insanity! Why are our Democratic representatives being the handmaidens of the very rich? Why can't they look out for regular working Americans for a change? If I wanted this kind of representation, I'd vote Republican. God damn.

[The Backlash Cometh]

26. How long will it be before we get the names of the people most responsible

for this theft?

Guys, what is your common sense telling you? We're getting fleeced precisely so we'll stop being a super power. Who has the power to bring this country to its knees so we're too weak to go after them after Bush and Cheney leave office? Obviously, those two will help them as insurance for themselves.

[FraDon]

28. k&r • When will we have a better bargaining position?

We should be demanding a remaking of the RULES of the great game itself. Capitalism has always been corruptible and corrupted. Call congress now (and sharpen your pitchforks).

[Waiting For Everyman]

29. This is BULLSHIT! Moore's right.

Yes, SOMETHING needs to be done. But NOT this. Hell no.

THEY can pay for it, with taxes on trades, taxes on excess income, etc. There ARE other ways to fund whatever is needed. Make them give it up for once. Congress does have the power, unless it's given away now.

Obama needs to back off from this until it's heavily Main Street, heavy with new regulating, and bank-funded instead of by taxpayers, so this can never happen again. If he doesn't, I don't believe he will be elected to do it later. And then, we'll be stuck with this debt, and President-in-waiting Palin, and Secretary of Treasury Gramm.

NO!

I'm emailing everybody. But we need media on this.

And there's this to be aware of, in case anyone missed it this morning...

http://www.democraticunderground.com/discuss/duboard.ph...

http://www.nakedcapitalism.com/2008/09/mussolini-style-...

youtube audio links of Treasury conference call yesterday:
Part 1
http://www.youtube.com/watch?v=uXmFADm61Rc&feature=user
Part 2
http://www.youtube.com/watch?v=1eqZoToIdfM&feature=user
Part 3
http://www.youtube.com/watch?v=8YwO3MkvjR0&feature=user
Part 4
http://www.youtube.com/watch?v=FnfyVGM-wfg&feature=user
Part 5

If this was so crucial, bankruptcy relief would not be a dealbreaker. Nothing would be a dealbreaker. This is extortion!

[santamargarita]

31. K&R

~

[glitch]

32. I am just praying they really ARE out the the door. I don't really trust them to go. nt

[HootieMcBoob]

33. k&r

[truedelphi]

34. Many Americans do not UNDERSTAND that We The People just lost our Social Securitry

No it was not directly privatized, but later this week, when Bush signs the Financial Bailout Bull into law, those funds will be indirectly used for a way to pay for this.

[Fire Walk With Me]

40. They finally got the SS money anyway, huh?

Six entire months of touring the old dog and pony show, amidst lies regarding SS's veracity and timetables, utterly ignoring Bin Laden..and us saying "NO" to them, the entire time...they are only able to prosper through subterfuge, end-runs, and stacked decks.

[truedelphi]

49. Plus their controlling the media helps immensely also n/t

[slipslidingaway]

35. K&R n/t

[pnutbutr]

36. jackassery

Complete and total.

[L0oniX]

37. We are being betrayed.

[pberq]

38. Now we get the truth - thanks Mike!

"The number one cause of people declaring bankruptcy is because of medical bills.

Let me state this simply: If we had had universal health coverage, this mortgage "crisis" may never have happened."

[Better Believe It]

39. K&R

[Imagevision]

41. Republicans give a new meaning to; "proud to be an American... do something...!

[avaistheone1]

42. Michael, that's what I am talking about.

[Willo]

43. K&R - No Corporate Bailout nt

[greyghost]

44. Talk about hitting it out of the park!

[leftofthedial]

46. bingo

[western mass]

47. This could ONLY happen with the help...

of Democratic collaborators.

Think about that long and hard.

The primaries are MORE IMPORTANT than the national elections.

[Naturyl]

48. K&R, I've been telling people since day 1...

That this is what this is. A rip-off. A scam. A free welfare handout for the richest.

I doubt we will stop this, but we won't soon forget it.

[greyghost]

50. Michael nailed it, as usual.

[defendandprotect]

51. Absolutely--!! and sad so many here don't understand this ---!!!

[Two Americas]

67. but some do

What is truly sad, is that some here very well understand this but they are not and never were on our side.

It is the wolf in sheep's clothing lurking within the flock that is the greatest danger we face now.

As FDR said -

The resolute enemy within our gates is ever ready to beat down our words unless in greater courage we will fight for them.

[defendandprotect]

84. Nice FDR quote .. new to me --

The resolute enemy within our gates is ever ready to beat down our words unless in greater courage we will fight for them.

[guajira]

52. I Called My Representative this morning

and talked to a member of his staff. I told her I am a registered Democrat but am totally against this bailout. She took my name and promised to pass the message on to Rep. Stearns.

I hope many, many other voters called their representatives!!!

[TechBear_Seattle]

54. To hell with just calling my Congresscritters

I found this on his website -- LINK HERE -- and sent it to my Representative and both Senators, along with this message:

Dear Name:

As a resident of (your district) / (the State of Washington), I wanted you to be aware of this message from Michael Moore, about how the Bush administration and their cronies are robbing the country blind with the proposed bail out of Wall Street. The link given below has also been forwarded to everyone in my email address book with the request they they forward it as well; this information is far too important to allow it to be buried by the mainstream media. We all trust that you, having the best interests of Washington voters at heart, will do the right thing and not help further compound the horrific damage that Bush and his buddies have done to this country.

Respectfully....

[barbtries]

57. the bill failed.

the people were heard. now the doomsayers are saying here's the depression, and if so, all i can say is, better now while i'm still alive and can go through the bad time with my children, than putting it off for a while so they can suffer in a world i helped impoverish.

[Two Americas]

64. that is beautiful

"Better now while i'm still alive and can go through the bad time with my children, than putting it off for a while so they can suffer in a world i helped impoverish."

That is very moving.

I think that the broad opposition to this bailout is because people are willing to risk depression rather than to be slaves to the wealthy and powerful, willing to face hardship now rather than condemning their children and grandchildren to the nightmare of a bleak future.

[barbtries]

65. thank you

that's where i'm coming from.

[Two Americas]

68. courage and self-sacrifice

Cowardice and selfishness, in the form of bullying and greed, have a death grip on our country and that is the true threat to the future of all of the people and children yet to come.

Someone here recently was defending Wall Street and the bailout, and said something revealing. "You people are fear mongering, and fear is what causes depressions. The economy depends on Wall Street, and the market is contolled by fear and greed. That is the reality whether we like it or not." So we should be greed mongering then, as the only alternative to fear?

We must now reject both fear and greed as ruling powers over our lives.

If we lose everything, but dedicate ourselves, commit our lives to this fight against the culture of greed and cowardice, and overthrow the tyranny of the bullies, our lives will have had meaning and purpose.

In courage, we can face down and overcome fear.

FDR -

"This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance."

In the spirit of self-sacrifice, we can reject the culture of greed.

FDR -

"In the place of the palace of privilege we seek to build a temple out of faith and hope and charity."

"These dark days will be worth all they cost us if they teach us that our true destiny is not to be ministered unto but to minister to ourselves and to our fellow men."

[TrogL]

61. ALLL RIIIIGHT!! The meme is spreading. Somebody finally gets it

We need to hear more about the pension funds. I suspect many are already in trouble and keeping quiet about it.

[greyghost]

63. Looks like some people on Capital Hill have a spine!

[Two Americas]

69. we have been here before

"Faced by failure of credit, they have proposed only the lending of more money."

Those words were spoken by Franklin D. Roosevelt in 1932

Moore is calling us to a cause that is eternal. So many who went before us sacrificed so much. Now we are being called to this great cause.

FDR -

"There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected. This generation of Americans has a rendezvous with destiny."

What we face today is not new.

"The only thing we have to fear is fear itself.

FDR -

This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days.

In such a spirit on my part and on yours we face our common difficulties. They concern, thank God, only material things. Values have shrunken to fantastic levels; taxes have risen; our ability to pay has fallen; government of all kinds is faced by serious curtailment of income; the means of exchange are frozen in the currents of trade; the withered leaves of industrial enterprise lie on every side; farmers find no markets for their produce; the savings of many years in thousands of families are gone.

More important, a host of unemployed citizens face the grim problem of existence, and an equally great number toil with little return. Only a foolish optimist can deny the dark realities of the moment.

"Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men.

Yet our distress comes from no failure of substance. We are stricken by no plague of locusts. Compared with the perils which our forefathers conquered because they believed and were not afraid, we have still much to be thankful for. Nature still offers her bounty and human efforts have multiplied it. Plenty is at our doorstep, but a generous use of it languishes in the very sight of the supply. Primarily this is because the rulers of the exchange of mankind’s goods have failed, through their own stubbornness and their own incompetence, have admitted their failure, and abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men.

"They know only the rules of a generation of self-seekers."

True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence. They know only the rules of a generation of self-seekers. They have no vision, and when there is no vision the people perish.

The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit.

Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. The joy and moral stimulation of work no longer must be forgotten in the mad chase of evanescent profits. These dark days will be worth all they cost us if they teach us that our true destiny is not to be ministered unto but to minister to ourselves and to our fellow men.

"They have no vision, and when there is no vision the people perish."

[bertman]

72. Thanks for the FDR quotes, Two Americas. This is a very important thread.

[Two Americas]

74. here is why this is important

Many of us here are expressing the exact same ideas that FDR - the founding spirit of the modern Democratic party - expressed the last time we faced a crisis such as this, a crisis that was caused by the same forces that have caused this one and in the same way.

Yet we are viciously attacked. The same people attacking us are the ones demanding loyalty to the party, and cynically using those loyalty tests to bully people out of taking a stand for the principles and ideals of the party.

[defendandprotect]

85. Thank you -- and FDR --!!!

[Vattel]

71. Huh?

I don't get it. Losing a home is not the same as declaring bankruptcy. Moore says:

"This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth:

The number one cause of people declaring bankruptcy is because of medical bills."

Fine, but how many people are losing their homes due to medical bills?

[Two Americas]

73. one is too many

The economy exists for the sole purpose of serving human beings, human beings were not intended to serve the economy, let alone to be slaves to the market.

There are no morally permissible "acceptable losses." Human beings are not "collateral damage."

[bhikkhu]

80. People lose their homes due to lack of money.

Which has many causes. Health comes before housing on most people's priority lists, but not much before.

[derby378]

76. Well, now that someone has just called Bush's bluff...

No bailout today, at least. Tomorrow, however, is another day. Expect the "nuclear option" to be unveiled by someone.

[torbird]

77. Clap. Clap. Clap.

Good one, Mike.

Americans lost $1.2 trillion on Wall Street today. Notice I didn't say "Wall Street lost." Americans, people across the country like you and me, we all lost a little something today, either through our employers, or our lenders, or our plans for retirement. We all suffered a little more today.

Americans lost $1.2 trillion today, and that's just what we can count.

Thanks, Mike.

[Binka]

79. I Thank Mike Before You!

You contribute NOTHING financially to this board and a quick search of your posts (something one can do when they donate) proves you have contributed nothing post wise as well.

Enjoy your stay.

[Waiting For Everyman]

91. Homeowners already lost $2 trillion in equity too. Most of that, not gained in the recent bubble.

That didn't matter though, did it? It still doesn't - to Paulson and buds. The banks' overcharging on interest rates is "no problem". Well reality says different.

Derivatives fans, enjoy your own bubble. Yours caused ours.

Btw, I know about losing a home b/c of medical bills. When you have serious illness, guess what your credit score looks like? Guess what you get charged for a needed refinance or a car loan? And gee, yeah, paying too much that way could possibly lead to a mortgage default. (Ya think!) But the almighty credit score must be worshipped! (B/c banks say so.)

Those are only a way to quantify into numbers, judgements which are subjective and can only be made by an experienced PERSON. It doesn't work! And THAT'S risky! As we see, right? Do we get it now?

How well did all those "risk models" assess risk? It didn't work at all, did it? It's called a FRAUD. A fraud whose only purpose is to rationalize OVERCHARGING people who can least afford it. Brilliant! Smart move, yahoos.

(I'm talking to "bank types".)

[Purveyor]

78. Thank you for posting... K&R eom

[malaise]

81. Michael Moore at his best

Great post

[AntiFascist]

82. K&R, wait until the Dow Jones falls (corrects) about 50%...

then we will know that there may be a problem to address. Taxpayers can then offer them a few million dollars to put together a thinktank of economists who really know how to solve the problem. Hey, a few million dollars will go a long way in the right hands.

[lostnotforgotten]

83. Agree With Moore Completely - No Bailout Ever!

eom

[mcollier]

86. Today the Federal Reserve

injected over $600 billion into the market... That's right just today... And how much did that help the market... So almost $1 trillion given the the finacial markets in just the last week...

And $600 billion over the weekend was allocated just to keep the US Government running for about 8 months. The huge bill passed quietly over the weekend.

Count up the costs! The Bailout is a smoke screen. Cash is not the issue.

If you haven't already, you MUST learn about the root cause to the financial crisis we are facing... By doing a search of - derivative collapse and credit default swaps...
Search these terms on the internet, do the research and understand what is happening and how we have been sold out by the bush admin and wall street.

Get ready for your life to drastically change.

[ooglymoogly]

87. Mike, I think your email to all of us this morning helped out a lot

keep up the good work. kr

[upi402]

88. the man has been right since Roger and Me

I love me some Michael Moore!

[valerief]

89. Bingo bongo!

[Kiwinet]

92. Great post... Thank you!

[Venceremos]

93. Kick

[Beregond2]

94. Well, there goes my respect for Mike.

By this time next month, he's going to be begging Congress to intervene, if they haven't already.

[ginnyinWI]

96. mine too. Shortsighted to the extreme. n/t

[OakCliffDem]

95. Kick

too late to recommend

[chimpymustgo]

97. Another damn kick against this bullshit bailout.

[lib2DaBone]

98. No Banker Left Behind

will allow Paulson to buy back bad debt from China.... (oh.. did they forget to mention that?) You don't think China threatened to close the lending window unless we bought back all the bad paper? (quick.. act surprised)