Radiohead- 15 Steps
How come the bankers keeps on jumping?
How come the loose money just don’t kick in?
Won't take my eyes off the pump again
Pumping out those billions to bail it out;;
How come I end up where I started?
How come I end up where I went wrong?
It won't work to bail it out again
Weimar Germany bail out then you cut the string
You used to be alright
What happened?
Did Greenspan get your tongue?
Did your bailout come undone?
One by one
One by one
It crashes for us all
It's hard as a rock to fall;
You used to be alright
What happened
Et cetera, et cetera
Facts for whatever
Some simple steps
To stop the sheer drop
How come I end up where I started?
How can I end up where I went wrong?
I’ll go back to the policies of FDR again;
Home and Bank Protection Act, pull the string;
With the most recent big credit write downs and losses among the big banks coming from HSBC and Barclays, and Citigroup now having to pay 2% above the Treasury interest rate in order to borrow, the Federal Reserve made another huge injection of short-term money into the banking system yesterday.
"This a 'free-fall' level of money printing," economist Lyndon LaRouche commented of the Fed's actions. "This is an echo, though under different circumstances of the desperate money-printing efforts of the Reichsbank in Weimar Germany, during the hyperinflationary blowout year of 1923."
According to Reuters, the Fed's $47.25 billion bailout injection today was the biggest since Sept. 19, 2001, after the terror attacks, when markets were nearly in free-fall and short-term lending rates were shooting upwards. Big banks continued to report big losses. The City of London giant Barclays Bank took a write down of $2.7 billion in mortgage-based assets for the third quarter.
Meanwhile, the Flint, Michigan city council was happen to hear about the Homeowner and Bank Protection Act (HBPA) from the Larouche Youth Movement. Flint is known as the scene of the Michael Moore movie, “Roger and Me”, as a former auto and other manufacturing hub, now hit hard by the real estate collapse and other forms of economic devestation. Already, the HPBA has been passed by nearby Pontiac, Michigan.
It has also been passed in a total of six cities nationally.
Thursday, November 15
How come the system keeps on crashing?
Posted by Howiecopywriter at 6:30 PM
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