US Banking Intervention

Karl FitzgeraldCommentary3 Comments

Michael Hudson on AIG

Michael Hudson on AIG

Michael Hudson on the highly respected Democracy Now, telling the inside story on the bankers bailouts. Hudson was recently interviewed on the Renegade Economists, giving insights on the banking system like few others can. Skip to the 10 minute mark if time is your issue, that’s when host Amy Goodman introduces the Hudson segment.

However, it may be worth watching the first 10 minutes as the latest Republican move to reduce the voting roll is revealed. Democracy does not count if your home has been foreclosed, according to those influencing laws in Michigan.

Outrageous!

Then hear what Professor Hudson says on the prevalence of speculative banks. Finally some sense on this madness!

3 Comments on “US Banking Intervention”

  1. Hey,Earthsharing,thanks for keeping us up on the latest Big Thoughts. You seem to know how to shine the light during very dark times.

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  3. HI guys. We now have our very own bailout here. Even though we don’t have a bubble and our financial system is in fantastic shape the government has decided to buy the worthless mortgages of the non banks at face value so they can continue to lend people more than they can afford to repay so they can pay more than houses are worth.

    There is no bubble but it must be propped up with government (your) money because if it stops we will all have to stop pretending that house price gambling is a productive activity.

    Get writing to politicians and newspapers. Some of us have started here: http://bubblepedia.net.au/tiki-view_blog.php

    all the best, keep up the fight

    d

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