Protest the Bailout Today

posted by Peter Rothberg on 09/25/2008 @ 10:57am

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There are more than 200 events planned coast to coast for today, September 25, protesting the Bush Administration's proposed bailout. There's a big rally scheduled for 4:00pm on Wall Street in New York City and similar activities nationwide. Find an event near you.

If you can't make it out to a protest, you can still contact your elected reps and implore them to reject Paulson's plunder and enact a plan that bails out Main Street as well as Wall Street and provides for investment in a new productive economy.

And check out this new Wired.com article about today's Wall Street action, and the nationwide protest movement sparked by New Yorkers over email.

Comments (38)

Do you ever get the feeling that it's hopeless?

Posted by Benchrest at 09/25/2008 @ 11:28am
but paulson said he needs the money. shouldn't we trust him? he will save us, i promise!

(twilight zone music)

Posted by darladoon at 09/25/2008 @ 11:36am
Posted by darladoon at 09/25/2008 @ 11:36am

You made it to Canada yet?

Posted by Benchrest at 09/25/2008 @ 11:39am
You made it to Canada yet? Posted by Benchrest at 09/25/2008 @ 11:39am

Better find a good immigration lawyer as soon as you get there. Residency ain't as simple as it once was.

Posted by sloper at 09/25/2008 @ 11:54am
Posted by sloper at 09/25/2008 @ 11:54am

I believe Darla has family there.

Posted by Benchrest at 09/25/2008 @ 11:58am
Posted by sloper at 09/25/2008 @ 11:54am

I think my wife will have to marry FROSTY, and I'll have to marry FZ's girlfriend to get in.

Posted by Maskdelta at 09/25/2008 @ 12:05pm
i have family there, i can marry my sweetie, and BC is herb-friendly. oh, don't worry 'bout me fellas. if things get worse, and mccain takes the election, i'm outta here.

Posted by darladoon at 09/25/2008 @ 12:08pm
Posted by Maskdelta at 09/25/2008 @ 12:05pm

You guys would die from fun overdose.

Posted by Benchrest at 09/25/2008 @ 12:09pm
Alors, bonne chance et bon voyage to alla yez. I've got me own arse already ensconced in the Alps.

Posted by sloper at 09/25/2008 @ 12:41pm
Obama needs to me MORE SHREWD so he is not used by Bush, Paulson or McCain to cover up THEIR SCREWUP in deregulating commercial banks, investment banks and insurance companies.

In fact, if you really break this down, this "bailout" is a naked attempt by Paulson to cover up HIS ACTIONS as Chairman of Goldman Sachs, in which he led the charge for his bank to take on more risk in dealing in these mortgage-backed securities.

This "bailout" is REALLY a Goldman Sachs bailout that is covered up with 700 billion for other banks so no one notices.

Paulson has a HUGE conflict of interest in this matter, and should recuse himself so that other more effective solutions can be pursued that don't involve bailing out Goldman Sachs and are not tied to GOLDMAN SACHS' TIMETABLE, as this bank struggles to survive.

If banks are AFRAID to lend the money that we all know is WIDELY AVAILABLE, then the Federal Reserve should step in and modify its discount rate that is charges banks for money so that banks that stop lending are charged a "higher discount rate", and those that continue to lend at healthy loan to deposit ratios are "rewarded" with the lowest discount rate. <---this solution may not bail out Goldman Sachs, but it would insure that credit remains liquid and that the taxpayer is not left holding the bag for bad investments by "particular" banks.

Posted by Metteyya at 09/25/2008 @ 12:45pm
Posted by Benchrest at 09/25/2008 @ 12:09pm

Well, maybe years later, my son could return as an actor....which seems to be (after oil) Canada's chief export to the US!

Posted by Maskdelta at 09/25/2008 @ 1:04pm
Amen!!

Think Obama and the Democrats are going to protect you? The two main Democrat players, Dodd and Frank, are just the worst sort of system stephin fetchits. This from an article today by Sharon Smith at Counterpunch:

"Indeed, their campaign coffers are overflowing with Wall St. dollars. Frank’s top contributors in the current election cycle include Brown Brothers Harriman & Life, Manulife Financial, the American Bankers Association and the American Society of Appraisers, according to the Center for Responsive Politics. Back in 2003, Frank opposed the Bush administration plan to increase regulation of Fannie and Freddie. At the time, Frank argued, 'These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

"As recently as July 11th, Dodd concurred. "This is not a time to be panicking about [Fannie May and Freddie Mac], Dodd argued in a press conference. “These are viable, strong institutions.” Dodd’s main contributors from 2003-2008 included Citigroup, SAC Capital Partners, United Technologies and the American International Group (the now infamous AIG)."

Progressives need to vote for Nader who will likely be the most visible candidate on the left opposing this thievery.

Posted by john lowell at 09/25/2008 @ 1:27pm
Gee Peter, you can then get onboard with Conservatives including those in Congress who have come out against this. There are very few Republicans in Congress who are willing to vote for this measure.

Posted by lvliberty1 at 09/25/2008 @ 1:42pm
I know we have to do everything we can, but let's face it, the cards are stacked against us. Protests (worldwide, mind you) didn't work to prevent a war, I'm afraid they won't work to prevent this bailout. The rich folk run the country and they're making sure that they wrestle all of the hard-earned dollars from the poor and the middle class (what's left of it) to make sure that even the dream of being financially stable will be a joke. It's a sad day in America and has been, most significantly, for the past eight years.

Posted by chsplyr at 09/25/2008 @ 1:49pm
There are very few Republicans in Congress who are willing to vote for this measure.-----Posted by lvliberty1 at 09/25/2008 @ 1:42pm

Why are there "very few Republicans in Congress"....

supporting President Bush, LL?

Posted by Maskdelta at 09/25/2008 @ 2:25pm
I think my wife will have to marry FROSTY, and I'll have to marry FZ's girlfriend to get in.

Posted by Maskdelta at 09/25/2008 @ 12:05pm

i don't want your doglike wife ;+]

my wife isn't into masks, just collars and such ;+[

immigration canada told us it would take 6-8 months to process her residency (es mexicana)

it took 3 years...... (mind you, our first lawyer was scum....)

Posted by frosty zoom at 09/25/2008 @ 2:42pm
Of the $303.4 billion in American imports from Canada in 2006, the following product categories had the highest values.

Petroleum products …US$63.7 billion (21% of Canada to U.S. exports, up 6% from 2005) Passenger cars … $36.6 billion (12.5%, up 1.5%) Car parts & accessories … $15.6 billion (5.1%, down 2.5%) Complete & assembled cars … $12.2 billion (4%, down 2.3%) Aluminum … $7.7 billion (2.5%, up 36.1%) Lumber … $6.6 billion (2.2%, down 8.9%) Finishing materials (e.g. shingles, wallboard) … $5.9 billion (2.0%, down 10.7%) Plastics … $5.8 billion (1.9%, up 7.9%) Telecommunications … $4 billion (1.3%, down 0.7%) Engines & parts … $3.98 billion (1.3%, down 8.6%) Fastest-Growing Canadian Exports to U.S.

Below are American imports from Canada in 2006 with the highest percentage sales increases from 2005.

Sugar … US$43.4 million (up 130.4% from 2005) Zinc … $1.4 billion (up 122.2%) Precious metals … $685.9 million (up 72.4%) Oil field drilling equipment … $1.0 billion (up 65.6%) Copper … $2.0 billion (up 51.1%) MEDICINAL, DENTAL & PHARMACEUTICAL PREPARATIONS … $3.5 BILLION (UP 43.5%) [i hope maasch sees that] Nickel … $1.2 billion (up 38.9%)

Posted by frosty zoom at 09/25/2008 @ 2:49pm
If Obama yields to McCain on the debate, he's letting McCain dictate the ground rules for the campaign.

The McCain people are trying to manipulate this event to make Barack look unpatriotic.

That's unacceptable, and not very "presidential."

Posted by jackwells at 09/25/2008 @ 2:51pm
I'm just glad the McCain campaign is falling apart.

Posted by nursevic at 09/25/2008 @ 3:02pm
Why are there "very few Republicans in Congress"....

supporting President Bush, LL?

Posted by Maskdelta at 09/25/2008 @ 2:25pm

Because they finally got the message from Conservatives that they needed to go back to being fiscal conservatives.

Posted by lvliberty1 at 09/25/2008 @ 3:05pm
like reagan, right?

Posted by frosty zoom at 09/25/2008 @ 3:30pm
I commend The Nation for running the article titled "King George and comrade Paulson". Ralph Nader is a very smart man.

Posted by nursevic at 09/25/2008 @ 3:45pm
Posted by lvliberty1 at 09/25/2008 @ 3:05pm

Ahhhhhhhhhh.

So, question, why is George W. Bush now a "socialist"?

Posted by Maskdelta at 09/25/2008 @ 3:58pm
Posted by frosty zoom at 09/25/2008 @ 2:42pm

What if we come to work for you as domestic help? I'm a fair lawn mower, my wife can cook, and our kid is quite helpful and would sleep on a little mat on the floor....

and your Canadian right-wingers can complain about how we are "steeeeeling errr jobs!!!!"

Posted by Maskdelta at 09/25/2008 @ 4:00pm
that's funny mask,

some mexican buddies of ours living here HAVE A CANADIAN (i.e. anglo) nanny!

Posted by frosty zoom at 09/25/2008 @ 4:36pm
Posted by frosty zoom at 09/25/2008 @ 4:36pm

I just hope I'm joking!

(BTW, always a big fan of "You Can't Do That On Television", "Mighty Machines", "SCTV", and "Hangin' In"...does that help or hurt me?)

Posted by Maskdelta at 09/25/2008 @ 4:47pm
It is simply nauseating to watch the President, the presidential candidates and Congressional leaders like Frank and Dodd who had the most personal responsibility for protecting the public against this insanity being pushed around by the lobbyist/paymasters who have so thoroughy owned them low these last several years. Where were these people two to five years ago that they treat this "crisis" with such urgency now? The American people ought to hold show trials for snakes like Frank, meting out punishments to match their crimes. And these filth hold themselves out as representing public interest in these negotiations? In China there'd be public executions in some sports stadium.

Posted by john lowell at 09/25/2008 @ 4:55pm
So, question, why is George W. Bush now a "socialist"?

Posted by Maskdelta at 09/25/2008 @ 3:58pm

You love making hyperbolic statements that you don't even support.

Conservatives like JM and myself have consistently said that while we agree with Bush on taxcuts, the war, and justices, he has been a terrible failure on control of spending

Unfortunately, in that regard he is too much like his father.

Posted by lvliberty1 at 09/25/2008 @ 5:10pm
George Bush is a weapon of mass destruction. He destroyed Iraq, sand now destroyed our financial system..everything he touches turns to cr--!.

McPalin promises to be no better., Our last vestige of hope--no, not the man from Hope, but Obama, could possibly resurrect this country (alias Lazarus) if he stops looking in the mirror, worried about Republicans attacks, and lead. The man seem chicken-hearted., but , he is, alas, out great white hope...!

Posted by hkaplan at 09/25/2008 @ 5:25pm
"Conservatives like JM and myself have consistently said that while we agree with Bush on taxcuts, the war, and justices, he has been a terrible failure on control of spending."

Is this supposed to be funny? Did you actually muse to yourself, "Ah, I bet while we are invading and occupying Iraq spending will be under control!" I have a controlling interest in Portland's St. John's Bridge if you want to buy it from me.

Posted by onthehelm at 09/25/2008 @ 5:33pm
So... here's how I understand this very high- risk -low- details- buy- out that we have to accept as it is right away or things will be even worse and we'll lose more: we take these notes that were made as high-risk-low-details loans that aspiring homeowners had to accept as they were right away or the terms would get even worse and they'd lose everything, and...knowing this...we buy them again from many of the same folks that sold the original loans under terms that people had to buy them right away as they were or they'd lose everything...and without any further guarantees, many of us even knowing deep in our hearts that we're getting savagely screwed, we buy that worthless paper back and hope for the best...remembering that we have no time and we have to do it right away or things will get even worse. have i got it?

Posted by larengo at 09/25/2008 @ 5:39pm
"The Bush Administration's bailout"??!!!!

I didn't think you could get more clueless.

Posted by freiheit1 at 09/25/2008 @ 5:40pm
Posted by lvliberty1 at 09/25/2008 @ 5:10pm

Bailout not socialism??????

Posted by Maskdelta at 09/25/2008 @ 6:46pm
Mexicans with Canadian nannies! Ha ha. I have Haole vassals in the Big Island of Hawaii.

Posted by nursevic at 09/25/2008 @ 7:15pm
Haole vassals!

(Now there's something you don't read every day...)

Posted by drhammer at 09/26/2008 @ 07:54am
Here's the deal... the anger and sense of betrayal of many Americans towards this bailout are justifiable, but at the same time I do hope that many Americans, especially those who voted this administration into power TWICE are also taking some responsibility for making a horrific choice, twice....

It's important because it speaks to our erroneous judgment when it comes to making choices. This an especially critical point as we come face to face with such a choice once again. Have we learnt anything from our past or are we doomed to repeat the same errors? The votes we cast has a direct consequence relating to the direction our nation takes with regards to policies that may or may not address the reasons this bailout is necessary.

So again, some of the responsibility this bailout is necessary rests squarely on our sholders as it speaks to our sense of discernment and judgment.

This relates to the lesson my mama taught me so very long ago... every choice has consequences.

Posted by nerakami at 09/27/2008 @ 11:34am
Nerakami,

I voted twice for Dubya and I am proud of it. We have a tendency to second guess ourselves before considering what the conditions were at the time we or others made a decision. Even George has his warts, it is far scarier for me and many others to imagine Mr. Gore or Mr. Kerry getting anywhere near the Presidency.

They, like Clinton, B., Clinton, H., and Obama B., in my view, have repeatedly shown that they have little understanding of cause-and-effect when speaking about foreign policy or domestic politics.

I contend that the current bad would have been much worse.

Of course, I can not prove it would have been worse, and others can not prove it would have been better. We can only play the college dorm-room what-if game.

I certainly could create in my mind a perfect what-if world that has no Democrats.

Sure, George screwed up, along with Bill and probably, 2/3 of Congress (I'm being nice.)

The lessons we learn from this should center around 1) establishing legal boundaries that have fair business practices at the core, 2) maximizing personal responsibility whereever possible and 3) limiting the powers of our government government.

Hey, I think those "dead white guys", who wrote our constitution were trying to achieve the same thing. Fancy that!

Posted by CrtclThnkr at 09/27/2008 @ 9:20pm
In your spare moments begin to think about these assumptions...

• That there is a relationship between social, environmental and technical conditions and the effectiveness (or even survival) of free societies

• That these conditions are never static

• That political microdonation (speech) and electoral/geographic networking facilitators (association)are fundamental and may be considered as "proximity substitutes" and are necessary compensations for changes in social structure

• That the greatest threat to individual freedom and growth is not a trend towards collectivist philosophies

• That the greatest danger to the individual is authoritarian or crony capitalism which may seem attractive if mechanisms of representation are either unintentionally hindered (e.g. as a result of changes in group size) OR intentionally perverted (e.g. Gerrymandering).

www.Chagora.com http://CulturalEngineer.blogspot.com

Posted by CulturalEngineer at 09/30/2008 @ 11:14am