Bailout: 75 Years Later, “New Deal” for the RichYvonne Martinezbyline‚ Sep. 30‚ 2008We’re getting the raw deal. 75 years after the New Deal, Wall Street firms have succeeded in socializing bad debt on the backs of working people. The cost of the mortgage and credit card meltdown will not only be the billions of dollars that will be paid out to recover the excesses created by unregulated banking industry speculation; paying off that debt will also take us further away from healthcare reform, full funding for education, and affordable housing. A fitting parting shot from an administration that came to power by stealing the presidency through electoral fraud, and then presided over the looting of the national treasury. An administration that will now create a debt so huge that it will be nearly impossible to recover economic ground for working people. |