Supreme Power to the Corporate Elite

Energy and Capital (09/28/2008)
"Unless you've been living under a rock for the past few weeks, you've heard the U.S. government has now nationalized the entire mortgage industry with the acquisition of Freddie Mac and Fannie Mae. And now, it hopes to siphon $700 billion from American taxpayers to buy up the bad debt of financial institutions for the next two years.

Now, take a second or two... and think about how much $700 billion really is. It's seven hundred thousand million dollars! $700,000,000,000.00.

Another perspective: It's enough to give every man, woman, and child in the city of Philadelphia a half-million dollars.

Listen... that $700 billion figure represents about 5.2% of the entire U.S. gross domestic product in 2007.

If approved, the bailout would raise the statutory limit on the national debt 6.6%... from $10.6 trillion to $11.3 trillion.

And what will U.S. taxpayers like you and I get in return?

Nothing. Zip. Zilch. Nada."

 PRINT THIS PAGE   EMAIL THIS PAGE

Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.

Related Quotes: