<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
		>
<channel>
	<title>Comments on: Financial Crisis Is Bigger than You Think &#8211; some Quibbles and Bits 10/3</title>
	<atom:link href="http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/</link>
	<description></description>
	<lastBuildDate>Sun, 27 May 2012 09:27:00 +0000</lastBuildDate>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.org/?v=3.0.4</generator>
	<item>
		<title>By: justsomeone</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-849601</link>
		<dc:creator>justsomeone</dc:creator>
		<pubDate>Sun, 05 Oct 2008 08:39:25 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-849601</guid>
		<description>I&#039;ve been reading Chris Martenson&#039;s blog lately, just another PHD in economics...&quot;commercial banks hold over 180 TRILLION in derivative debt...&amp; JPMorgan holds 1/2 of it.&quot;  &quot;Ron Paul says the total national value of outstanding derivatives is 1.1 QUADTrillion dollars...&quot;</description>
		<content:encoded><![CDATA[<p>I&#8217;ve been reading Chris Martenson&#8217;s blog lately, just another PHD in economics&#8230;&#8221;commercial banks hold over 180 TRILLION in derivative debt&#8230;&amp; JPMorgan holds 1/2 of it.&#8221;  &#8220;Ron Paul says the total national value of outstanding derivatives is 1.1 QUADTrillion dollars&#8230;&#8221;</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Ai1een</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-840132</link>
		<dc:creator>Ai1een</dc:creator>
		<pubDate>Sat, 04 Oct 2008 01:24:29 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-840132</guid>
		<description>Jonny - 

You and I agree on something - DICK MORRIS IS A FAT SLOB AND A REVOLTING LIAR TO BOOT.  Why FOX News continues to employ him while at the same time spewing how fair and balanced they are is beyond me, but - as they&#039;re the most balanced amongst the swine of our current corrupt propagandist media - we are forced to watch.

However - you might want to get your facts straight before you come to NQ and try to lecture here because you look embarrassingly stupid.

For the record, it was actually Jesse Jackson, Jr. who went on Morning Joe MSNBC the morning after Hillary Clinton&#039;s win in New Hampshire and said:

 &quot;Hillary&#039;s tears were racist.  Did she ever cry for the people of Katrina? Those tears were racist.&quot; ((??????????????????????)

That was the official beginning of OBAMA&#039;s vile race baiting in his ongoing sleazy, lying, &quot;bamboozling&quot; campaign.  

And incidentally Johnny - Hillary should have responded back to Jesse Jackson, Jr. that indeed she and Bill HAD cried over Katrina, but after they cried they didn&#039;t just go back to their lives as usual and ignore the people of Katrina - they, in fact,  donated an assload of their personal money to go towards rebuilding Katrina and the Clinton Foundation also did work helping to rebuild New Orleans.

Barack Hussein Obama...NOT ONE SINGLE DIME...NOT ONE SINGLE CENT.  Yep - what, approx. 95% of the vicims were AA and Barack Hussein Obama didn&#039;t give them one cent.  Are you surprised?  You shouldn&#039;t be - he never gave one cent of his money to the AA in Chicago&#039;s Southside (aka HIS CONSTITUENCY!!!) either.  He had a school named after him in Africa that he said in front of reporters (of course) that he would support when he returned home to the U.S and ...low and behold - he has, to date, over a year and a half later, not sent them one cent - just like he never sent his half brother one cent.  Prior to running for President - Barack and Michelle gave LESS THAN 1 % of their money to charity.  

But - yeah - get it straight Jonny - Jesse Jackson, Jr.CAN OFFICIALLY CLAIM CREDIT FOR BEING THE STARTER OF THE OBAMA RACE BAITING CAMPAIGN.</description>
		<content:encoded><![CDATA[<p>Jonny &#8211; </p>
<p>You and I agree on something &#8211; DICK MORRIS IS A FAT SLOB AND A REVOLTING LIAR TO BOOT.  Why FOX News continues to employ him while at the same time spewing how fair and balanced they are is beyond me, but &#8211; as they&#8217;re the most balanced amongst the swine of our current corrupt propagandist media &#8211; we are forced to watch.</p>
<p>However &#8211; you might want to get your facts straight before you come to NQ and try to lecture here because you look embarrassingly stupid.</p>
<p>For the record, it was actually Jesse Jackson, Jr. who went on Morning Joe MSNBC the morning after Hillary Clinton&#8217;s win in New Hampshire and said:</p>
<p> &#8220;Hillary&#8217;s tears were racist.  Did she ever cry for the people of Katrina? Those tears were racist.&#8221; ((??????????????????????)</p>
<p>That was the official beginning of OBAMA&#8217;s vile race baiting in his ongoing sleazy, lying, &#8220;bamboozling&#8221; campaign.  </p>
<p>And incidentally Johnny &#8211; Hillary should have responded back to Jesse Jackson, Jr. that indeed she and Bill HAD cried over Katrina, but after they cried they didn&#8217;t just go back to their lives as usual and ignore the people of Katrina &#8211; they, in fact,  donated an assload of their personal money to go towards rebuilding Katrina and the Clinton Foundation also did work helping to rebuild New Orleans.</p>
<p>Barack Hussein Obama&#8230;NOT ONE SINGLE DIME&#8230;NOT ONE SINGLE CENT.  Yep &#8211; what, approx. 95% of the vicims were AA and Barack Hussein Obama didn&#8217;t give them one cent.  Are you surprised?  You shouldn&#8217;t be &#8211; he never gave one cent of his money to the AA in Chicago&#8217;s Southside (aka HIS CONSTITUENCY!!!) either.  He had a school named after him in Africa that he said in front of reporters (of course) that he would support when he returned home to the U.S and &#8230;low and behold &#8211; he has, to date, over a year and a half later, not sent them one cent &#8211; just like he never sent his half brother one cent.  Prior to running for President &#8211; Barack and Michelle gave LESS THAN 1 % of their money to charity.  </p>
<p>But &#8211; yeah &#8211; get it straight Jonny &#8211; Jesse Jackson, Jr.CAN OFFICIALLY CLAIM CREDIT FOR BEING THE STARTER OF THE OBAMA RACE BAITING CAMPAIGN.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: vdavisson</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838801</link>
		<dc:creator>vdavisson</dc:creator>
		<pubDate>Fri, 03 Oct 2008 22:03:09 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838801</guid>
		<description>Get rid of Dodd while you are at it:

&lt;a href=&quot;http://www.freerepublic.com/focus/f-news/2092484/posts&quot; rel=&quot;nofollow&quot;&gt;Man who destroyed AIG an Obama-Dodd man &lt;/a&gt;

One of the posts says this:

&quot;Sen. Dodd has been rewarded in the 2008 election cycle with $7.65 million in campaign contributions — 
he took in $11.7 million in all — from the securities, insurance, real-estate and commercial-banking industries, according to his latest Federal Election Commission filing posted at opensecrets.org.

Sen. Dodd&#039;s list of donors reads like a who&#039;s who of who&#039;s in the stew: 

Citigroup, $310,294; 
SAC Capital Partners, $282,000; 
United Technologies, $263,400; 
AIG, $224,678; 
Bear Stearns, $205,600; 
St. Paul Travelers, $205,400; 
Royal Bank of Scotland, $203,750; 
Goldman Sachs, $175,600; 
Morgan Stanley, $155,000; 
Credit Suisse, $154,550; 
Merrill Lynch, $134,950; 
The Hartford, $94,350; 
Bank of America, $91,300
JPMorgan Chase, $129,150; 
USB, $101,900; 
Hartford Finance Services, $101,500
Lehman Brothers, $128,400; 
KPMG, $113,100; 
General Electric, $108,250; 
Deloitte Touche, $108,000

With $165,400, Sen. Dodd also tops the list of members of Congress who took campaign cash from Fannie Mae and Freddie Mac since 1989.</description>
		<content:encoded><![CDATA[<p>Get rid of Dodd while you are at it:</p>
<p><a href="http://www.freerepublic.com/focus/f-news/2092484/posts" rel="nofollow">Man who destroyed AIG an Obama-Dodd man </a></p>
<p>One of the posts says this:</p>
<p>&#8220;Sen. Dodd has been rewarded in the 2008 election cycle with $7.65 million in campaign contributions —<br />
he took in $11.7 million in all — from the securities, insurance, real-estate and commercial-banking industries, according to his latest Federal Election Commission filing posted at opensecrets.org.</p>
<p>Sen. Dodd&#8217;s list of donors reads like a who&#8217;s who of who&#8217;s in the stew: </p>
<p>Citigroup, $310,294;<br />
SAC Capital Partners, $282,000;<br />
United Technologies, $263,400;<br />
AIG, $224,678;<br />
Bear Stearns, $205,600;<br />
St. Paul Travelers, $205,400;<br />
Royal Bank of Scotland, $203,750;<br />
Goldman Sachs, $175,600;<br />
Morgan Stanley, $155,000;<br />
Credit Suisse, $154,550;<br />
Merrill Lynch, $134,950;<br />
The Hartford, $94,350;<br />
Bank of America, $91,300<br />
JPMorgan Chase, $129,150;<br />
USB, $101,900;<br />
Hartford Finance Services, $101,500<br />
Lehman Brothers, $128,400;<br />
KPMG, $113,100;<br />
General Electric, $108,250;<br />
Deloitte Touche, $108,000</p>
<p>With $165,400, Sen. Dodd also tops the list of members of Congress who took campaign cash from Fannie Mae and Freddie Mac since 1989.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Smilin' Jim</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838498</link>
		<dc:creator>Smilin' Jim</dc:creator>
		<pubDate>Fri, 03 Oct 2008 21:01:51 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838498</guid>
		<description>&lt;em&gt;I’ll be very surprised if the bill gets through the House today.&lt;/em&gt;

&lt;strong&gt;SURPRISE!!!&lt;/strong&gt;

&lt;em&gt;&quot;I smell something bad.&quot;
&lt;/em&gt;

With the Michigan pullout you smell fear.

McCain will need to go very, very negative.</description>
		<content:encoded><![CDATA[<p><em>I’ll be very surprised if the bill gets through the House today.</em></p>
<p><strong>SURPRISE!!!</strong></p>
<p><em>&#8220;I smell something bad.&#8221;<br />
</em></p>
<p>With the Michigan pullout you smell fear.</p>
<p>McCain will need to go very, very negative.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Smilin' Jim</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838477</link>
		<dc:creator>Smilin' Jim</dc:creator>
		<pubDate>Fri, 03 Oct 2008 20:57:07 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838477</guid>
		<description>&lt;em&gt;&quot;This entire financial fiasco, much as it hurts to say it, is at the feet of the Dems.&quot;&lt;/em&gt;

You have anger, bargaining, depression and acceptance to go.

My first culprit in this mess is the American people.  You cannot cheat an honest man.  You all were so overcome with your possessions, the pursuit of wealth by avoiding taxes, screwing the country&#039;s infrastructure and environment by cashing in these assets, sending jobs overseas to shore up the sort term P/E rations and spending every goddamn cent you earned or borrowed that you brought it upon yourselves.  You are currently in stage 1: Denial.

My second culprit is Ronald Reagan.  &quot;The Speech&quot; worked so well that he became it&#039;s caricature and lost the plot.  Bush Sr. was right, it was all Voodoo Economics. But Reagan put power first and country second, especially when he torpedoed the Department of Energy programs and tore Jimmy Carter&#039;s solar panels off the White House roof in a show of photo-op and sound-bite bravado.  Then, just when you&#039;d think that he couldn&#039;t do more to destroy the country, he bought off a handful of  Oklahoma and Texas  Boll Weevil Democrats (all Republicans by &#039;88) and started the mega-deficit spiral that just came home to roost and drop doo-doo on your doorstep.

My third culprit is the Republican Party.  Bush Sr. knew that supply side was all smoke and mirrors well before he succeeded Reagan.  The wise men of the Republican Party knew it very early in the Reagan Administration too when David Stockman jumped ship.  Power was their aim: Power is the ultimate aphrodisiac, even when laced with hemlock.

That&#039;s the sugar-coated version.</description>
		<content:encoded><![CDATA[<p><em>&#8220;This entire financial fiasco, much as it hurts to say it, is at the feet of the Dems.&#8221;</em></p>
<p>You have anger, bargaining, depression and acceptance to go.</p>
<p>My first culprit in this mess is the American people.  You cannot cheat an honest man.  You all were so overcome with your possessions, the pursuit of wealth by avoiding taxes, screwing the country&#8217;s infrastructure and environment by cashing in these assets, sending jobs overseas to shore up the sort term P/E rations and spending every goddamn cent you earned or borrowed that you brought it upon yourselves.  You are currently in stage 1: Denial.</p>
<p>My second culprit is Ronald Reagan.  &#8220;The Speech&#8221; worked so well that he became it&#8217;s caricature and lost the plot.  Bush Sr. was right, it was all Voodoo Economics. But Reagan put power first and country second, especially when he torpedoed the Department of Energy programs and tore Jimmy Carter&#8217;s solar panels off the White House roof in a show of photo-op and sound-bite bravado.  Then, just when you&#8217;d think that he couldn&#8217;t do more to destroy the country, he bought off a handful of  Oklahoma and Texas  Boll Weevil Democrats (all Republicans by &#8217;88) and started the mega-deficit spiral that just came home to roost and drop doo-doo on your doorstep.</p>
<p>My third culprit is the Republican Party.  Bush Sr. knew that supply side was all smoke and mirrors well before he succeeded Reagan.  The wise men of the Republican Party knew it very early in the Reagan Administration too when David Stockman jumped ship.  Power was their aim: Power is the ultimate aphrodisiac, even when laced with hemlock.</p>
<p>That&#8217;s the sugar-coated version.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Still Nervous</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838079</link>
		<dc:creator>Still Nervous</dc:creator>
		<pubDate>Fri, 03 Oct 2008 19:52:32 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-838079</guid>
		<description>The bail out bill--er, &lt;em&gt;rescue&lt;/em&gt; package--has been passed by the House, reconciled with the Senate bill, and signed by Bush.  

So why is the DOW is still dropping?</description>
		<content:encoded><![CDATA[<p>The bail out bill&#8211;er, <em>rescue</em> package&#8211;has been passed by the House, reconciled with the Senate bill, and signed by Bush.  </p>
<p>So why is the DOW is still dropping?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: WildChild</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837903</link>
		<dc:creator>WildChild</dc:creator>
		<pubDate>Fri, 03 Oct 2008 19:34:16 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837903</guid>
		<description>cheesy youtube videos?  really?</description>
		<content:encoded><![CDATA[<p>cheesy youtube videos?  really?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: WildChild</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837874</link>
		<dc:creator>WildChild</dc:creator>
		<pubDate>Fri, 03 Oct 2008 19:30:44 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837874</guid>
		<description>The mistake that you are making is buying into the line of bullshit put out by the credit industry that this is all because of a few risky loans to the poor.  There aren&#039;t enough sub-prime loans out there to collapse the whole credit market even if they all foreclosed.  They only make up about 5 or 6 percent of the whole.</description>
		<content:encoded><![CDATA[<p>The mistake that you are making is buying into the line of bullshit put out by the credit industry that this is all because of a few risky loans to the poor.  There aren&#8217;t enough sub-prime loans out there to collapse the whole credit market even if they all foreclosed.  They only make up about 5 or 6 percent of the whole.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: WildChild</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837844</link>
		<dc:creator>WildChild</dc:creator>
		<pubDate>Fri, 03 Oct 2008 19:27:37 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837844</guid>
		<description>I see you&#039;re trying to switch the argument from ideology to fault.  Sorry bubbles but that is a non starter.  The republicans are wholeheartedly against regulating the private sector and continue to speak in those terms today.  LOL But honestly the only thing worse then dealing with the supercharged emotional hysteria of the left with kool-aid junkie is dealing with the complete disengagement from reality of the right wing kool-aid junkie.  By the way? (LMAO)What flavor are they serving today at the revival?</description>
		<content:encoded><![CDATA[<p>I see you&#8217;re trying to switch the argument from ideology to fault.  Sorry bubbles but that is a non starter.  The republicans are wholeheartedly against regulating the private sector and continue to speak in those terms today.  LOL But honestly the only thing worse then dealing with the supercharged emotional hysteria of the left with kool-aid junkie is dealing with the complete disengagement from reality of the right wing kool-aid junkie.  By the way? (LMAO)What flavor are they serving today at the revival?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: ziggy</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837751</link>
		<dc:creator>ziggy</dc:creator>
		<pubDate>Fri, 03 Oct 2008 19:16:08 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837751</guid>
		<description>To my way of thinking, this puts Barack Obama&#039;s suggestion that the wealthy should be paying significantly more taxes into much clearer perspective.  

Remember:  John McCain plans to give additional huge tax cuts to the wealthy--reductions that &lt;em&gt;greatly exceed&lt;/em&gt; those previously given to them by George W. Bush.  

How can this possibly be justified when the middle and working classes are struggling just to keep their heads above water, and we&#039;re already running ruinous federal deficits?</description>
		<content:encoded><![CDATA[<p>To my way of thinking, this puts Barack Obama&#8217;s suggestion that the wealthy should be paying significantly more taxes into much clearer perspective.  </p>
<p>Remember:  John McCain plans to give additional huge tax cuts to the wealthy&#8211;reductions that <em>greatly exceed</em> those previously given to them by George W. Bush.  </p>
<p>How can this possibly be justified when the middle and working classes are struggling just to keep their heads above water, and we&#8217;re already running ruinous federal deficits?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Where did all the money go?</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837638</link>
		<dc:creator>Where did all the money go?</dc:creator>
		<pubDate>Fri, 03 Oct 2008 19:03:23 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837638</guid>
		<description>Where did all the money go?  It&#039;s a shell game, but basically during the past 8 years the very rich have gotten a whole lot richer.  

Here&#039;s a link to an interesting &lt;strong&gt;graphic representation&lt;/strong&gt; of how one wealthy person&#039;s one year gain--represented as a stack of $100 bills--compares to that of a median-income family.  First click the &lt;strong&gt;Zoom In&lt;/strong&gt; button a couple of times until you see the average family&#039;s 40-some thousand dollar stack of $100 bills on the 50 yard line; then click the &lt;strong&gt;Zoom Out&lt;/strong&gt; button 5 times or so to see Bill Gates&#039; largest &lt;strong&gt;single year&lt;/strong&gt; increase in cash.   

http://www.lcurve.org/

&lt;blockquote&gt;&quot;While the middle class has declined under President Bush&#039;s reckless economic policies, the people on top have never had it so good. For the first seven years of Bush&#039;s tenure, the wealthiest 400 individuals in our country saw a $670 billion increase in their wealth, and at the end of 2007 owned over $1.5 trillion in wealth. That is just 400 families, a $670 billion increase in wealth since Bush has been in office. 

&quot;In our country today, we have the most unequal distribution of income and wealth of any major country on earth, with the top 1 percent earning more income than the bottom 50 percent and the top 1 percent owning more wealth than the bottom 90 percent.  We are living at a time when we have seen a massive  transfer of wealth from the middle class to the very wealthiest people in this country, when, among others, CEOs of Wall Street firms received unbelievable amounts in bonuses, including $39 billion in bonuses in the year 2007 alone for just the five major investment houses. We have seen the incredible greed of the financial services industry manifested in the hundreds of millions of dollars they have spent on campaign contributions and lobbyists in order to deregulate their industry so that hedge funds and other unregulated financial institutions could flourish. We have seen them play with trillions and trillions dollars in esoteric financial instruments, in unregulated industries which no more than a handful of people even understand. We have seen the financial services industry charge 30 percent interest rates on credit card loans and tack on outrageous late fees and other costs to unsuspecting customers. We have seen them engaged in despicable predatory lending practices, taking advantage of the vulnerable and the uneducated. We have seen them send out billions of deceptive solicitations to almost every mailbox in America.&quot; (Senator Bernie Sanders of Vermont--an Independent)&lt;/blockquote&gt;</description>
		<content:encoded><![CDATA[<p>Where did all the money go?  It&#8217;s a shell game, but basically during the past 8 years the very rich have gotten a whole lot richer.  </p>
<p>Here&#8217;s a link to an interesting <strong>graphic representation</strong> of how one wealthy person&#8217;s one year gain&#8211;represented as a stack of $100 bills&#8211;compares to that of a median-income family.  First click the <strong>Zoom In</strong> button a couple of times until you see the average family&#8217;s 40-some thousand dollar stack of $100 bills on the 50 yard line; then click the <strong>Zoom Out</strong> button 5 times or so to see Bill Gates&#8217; largest <strong>single year</strong> increase in cash.   </p>
<p><a href="http://www.lcurve.org/" rel="nofollow">http://www.lcurve.org/</a></p>
<blockquote><p>&#8220;While the middle class has declined under President Bush&#8217;s reckless economic policies, the people on top have never had it so good. For the first seven years of Bush&#8217;s tenure, the wealthiest 400 individuals in our country saw a $670 billion increase in their wealth, and at the end of 2007 owned over $1.5 trillion in wealth. That is just 400 families, a $670 billion increase in wealth since Bush has been in office. </p>
<p>&#8220;In our country today, we have the most unequal distribution of income and wealth of any major country on earth, with the top 1 percent earning more income than the bottom 50 percent and the top 1 percent owning more wealth than the bottom 90 percent.  We are living at a time when we have seen a massive  transfer of wealth from the middle class to the very wealthiest people in this country, when, among others, CEOs of Wall Street firms received unbelievable amounts in bonuses, including $39 billion in bonuses in the year 2007 alone for just the five major investment houses. We have seen the incredible greed of the financial services industry manifested in the hundreds of millions of dollars they have spent on campaign contributions and lobbyists in order to deregulate their industry so that hedge funds and other unregulated financial institutions could flourish. We have seen them play with trillions and trillions dollars in esoteric financial instruments, in unregulated industries which no more than a handful of people even understand. We have seen the financial services industry charge 30 percent interest rates on credit card loans and tack on outrageous late fees and other costs to unsuspecting customers. We have seen them engaged in despicable predatory lending practices, taking advantage of the vulnerable and the uneducated. We have seen them send out billions of deceptive solicitations to almost every mailbox in America.&#8221; (Senator Bernie Sanders of Vermont&#8211;an Independent)</p></blockquote>
]]></content:encoded>
	</item>
	<item>
		<title>By: Perry Logan</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837465</link>
		<dc:creator>Perry Logan</dc:creator>
		<pubDate>Fri, 03 Oct 2008 18:44:07 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837465</guid>
		<description>Also to your point: &lt;strong&gt; Media Matters debunks false accusations about ACORN:&lt;/strong&gt;

&lt;blockquote&gt;In recent days, media figures have accused Democrats of attempting to direct millions of dollars in government money to the Association of Community Organizations for Reform Now (ACORN) in the financial bailout bill. The accusation is false. Neither the draft proposal nor the final version of the bill contained any language mentioning ACORN. Those making the false claim were misrepresenting a provision -- since removed -- that would have directed 20 percent of any profits realized on troubled assets purchased under the plan into two previously established funds: the Housing Trust Fund and the Capital Magnet Fund.&lt;/blockquote&gt;
http://mediamatters.org/items/200810010019?f=h_top</description>
		<content:encoded><![CDATA[<p>Also to your point: <strong> Media Matters debunks false accusations about ACORN:</strong></p>
<blockquote><p>In recent days, media figures have accused Democrats of attempting to direct millions of dollars in government money to the Association of Community Organizations for Reform Now (ACORN) in the financial bailout bill. The accusation is false. Neither the draft proposal nor the final version of the bill contained any language mentioning ACORN. Those making the false claim were misrepresenting a provision &#8212; since removed &#8212; that would have directed 20 percent of any profits realized on troubled assets purchased under the plan into two previously established funds: the Housing Trust Fund and the Capital Magnet Fund.</p></blockquote>
<p><a href="http://mediamatters.org/items/200810010019?f=h_top" rel="nofollow">http://mediamatters.org/items/200810010019?f=h_top</a></p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Perry Logan</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837447</link>
		<dc:creator>Perry Logan</dc:creator>
		<pubDate>Fri, 03 Oct 2008 18:41:15 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837447</guid>
		<description>Logan&#039;s Law:  Republicans always screw up...then blame the Democrats. ;-)</description>
		<content:encoded><![CDATA[<p>Logan&#8217;s Law:  Republicans always screw up&#8230;then blame the Democrats. <img src='http://www.noquarterusa.net/blog/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' /> </p>
]]></content:encoded>
	</item>
	<item>
		<title>By: portia9</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837373</link>
		<dc:creator>portia9</dc:creator>
		<pubDate>Fri, 03 Oct 2008 18:31:58 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837373</guid>
		<description>Someone please answer this simple question:

Where did all the money go?</description>
		<content:encoded><![CDATA[<p>Someone please answer this simple question:</p>
<p>Where did all the money go?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: andySF</title>
		<link>http://www.noquarterusa.net/blog/5206/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837251</link>
		<dc:creator>andySF</dc:creator>
		<pubDate>Fri, 03 Oct 2008 18:15:59 +0000</pubDate>
		<guid isPermaLink="false">http://noquarterusa.net/blog/2008/10/03/financial-crisis-is-bigger-than-you-think-some-quibbles-and-bits-103/#comment-837251</guid>
		<description>You should&#039;ve seen what Bill O&#039;Reilly did to him yesterday(called him a coward, lol). It was on Fox after the debate. I really don&#039;t like O&#039;Reilly, his an arrogant jerk most of the time. But he&#039;s no shy about speaking his mind.

Barney Frank really look pathetic.</description>
		<content:encoded><![CDATA[<p>You should&#8217;ve seen what Bill O&#8217;Reilly did to him yesterday(called him a coward, lol). It was on Fox after the debate. I really don&#8217;t like O&#8217;Reilly, his an arrogant jerk most of the time. But he&#8217;s no shy about speaking his mind.</p>
<p>Barney Frank really look pathetic.</p>
]]></content:encoded>
	</item>
</channel>
</rss>

