Surviving Capitalism (Not) : Quietly Ticking Time Bomb in Fed Data

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, December 14, 2010

Quietly Ticking Time Bomb in Fed Data

from Center for Media and Democracy.

The article provides some excellent graphs and clear explanations as to the reality about TARP and the other huge bailouts of mortgage-backed securities by The Fed. There has been a lot of congratulatory statements made in mainstream and financial media about TARP money being paid back. This article puts things in their proper perspective.

The Fed data supports our long-held contention that the Congressionally-approved and much despised $700 billion Troubled Asset Relief Program (TARP) was only a small fraction of the total bailout.