Bailout Helps Revive Banks, and Bonuses (yes, we were robbed)

[brentspeak]

By GRAHAM BOWLEY
Published: October 16, 2009

http://www.nytimes.com/2009/10/17/business/economy/17wall.html

Even as the economy continues to struggle, much of Wall Street is minting money — and looking forward again to hefty bonuses.

Many Americans wonder how this can possibly be. How can some banks be prospering so soon after a financial collapse, even as legions of people worry about losing their jobs and their homes?

It may come as a surprise that one of the most powerful forces driving the resurgence on Wall Street is not the banks but Washington. Many of the steps that policy makers took last year to stabilize the financial system — reducing interest rates to near zero, bolstering big banks with taxpayer money, guaranteeing billions of dollars of financial institutions’ debts — helped set the stage for this new era of Wall Street wealth.

snip

A year after the crisis struck, many of the industry’s behemoths — those institutions deemed too big to fail — are, in fact, getting bigger, not smaller. For many of them, it is business as usual. Over the last decade the financial sector was the fastest-growing part of the economy, with two-thirds of growth in gross domestic product attributable to incomes of workers in finance...

http://metavid.org/wiki/Stream:Senate_proceeding_10-01-08_00/2:38:38/2:53:07">"I urge my colleagues to join me in supporting this important legislation...

[Double T]

1. The super rich must be saved and preserved at ALL COSTS.

The anointed members of congress have served their masters well. And if YOU think for one second that YOU matter, remember YOU don't!