Upgrade your browser!

Skip to Content

Tax Wealthy to Pay For Bailout?

Finally a real solution, Sen. Bernie Sanders explains his long list of reasons for rejecting the rescue bill which was later passed by the Senate by a margin of 74-25. Sanders pointed to the absence of a plan to help those who face imminent foreclosure on their homes. He chided congress for not effectively limiting Wall St. executives from continuing to award themselves excessive compensation and "make out like bandits." This crisis was not caused by the sub-prime mortgage loans, it has been in the works for some 3 decades. The sub-prime mortgage loans just started to close the coffin. Lengthy but worth the watch!

  • Views: 3636
  • All Ages
  • All Ages

Related Media

  • Video:Economic Hit Man
  • Economic Hit Man
  • I Don`t know If I believe him... Not That these things . . .
  • Votes 4.3/5 - Views 2184 - Comments 12
  • Video:Ultimate Dog Racer
  • Ultimate Dog Racer
  • Race and bet your way through 10 dog-dodging, tail wagg. . .
  • Votes 3.64/5 - Views 1351 - Comments 2
  • Video:Ball Buster
  • Ball Buster
  • Have Your Heard Of This Family Game?
  • Votes 4.66/5 - Views 1688 - Comments 10

View All

Your Macromedia's Flash Player
may be out of date


Click here to upgrade your flash player.

You may also get this message if you have disabled your javascript. You must enable it to view videos.



Trouble playing the video? Click here to download the original.

Rate This Video:
Rate it 0.5 Rate it 1.0 Rate it 1.5 Rate it 2.0 Rate it 2.5 Rate it 3.0 Rate it 3.5 Rate it 4.0 Rate it 4.5 Rate it 5.0

4.77 out of 5 based on 536 votes

Rating Results:
Earn XP by sharing this video!
learn more

Video URL:

Embedded Link:

Send This Video To A Cell Phone! Digg

15 Comments

Current View: 15 / Show all Comments

Fuzzyman123 : LVL 31: VP 4: said:

Fuzzyman123

33 votes NegativePositive

61 days 11 hours ago...

This situation is RAPIDLY getting out of control:

A friend of mine works for border control between US and Mexico and he told me that the Mexican government are investing heavily their side in extra security (fences, dogs etc) in anticipation of a mass exodus of US citizens within the next year illegally entering Mexico for work as maids and shit.

I shit you not...this is fucked up. Talk about an irony.

exploder : LVL 48: VP 5: said:

exploder

15 votes NegativePositive

61 days 11 hours ago...

This is excellent. The most disgusting thing about this situation is that the people he would tax by 10% wouldn`t notice a change in bank ballance if they heated their houses by burning $100 bills. They can afford to pay for their own mistakes, and should pay the whole works back, plus interest, in punishment for all the grief they have caused.

computermexican : LVL 29: VP 3.8: said:

computermexican

13 votes NegativePositive

61 days 10 hours ago...

"Always fight for progress and reform, never tolerate injustice or corruption, always fight demagogues of all parties, never belong to any party, always oppose privileged classes and public plunderers, never lack sympathy with the poor, always remain devoted to the public welfare... always be drastically independent, never be afraid to attack wrong, whether by predatory plutocracy or predatory poverty." - Joseph Pulitzer

BoguS_SA : LVL 24: VP 3.3: said:

BoguS_SA

8 votes NegativePositive

61 days 9 hours ago...

"revolution, revolution, revolution that`s the solution" ~Afroman

gardendaleguy : LVL 35: VP 4.3: said:

gardendaleguy

3 votes NegativePositive

61 days 6 hours ago...

welcome to Planet Enron.

generic_imitation : LVL 34: VP 4.2: said:

generic_imitation

8 votes NegativePositive

61 days 5 hours ago...

I looked up oligopoly in wiki. Pretty weird stuff, and I can see how it does apply. I`ve been saying the U.S. Economy is going to fail since late 2003. there are several reasons why this is happening.

1. I don`t care what is the headline today, the main problem with the economy is lack of manufacturing might. We import more than we export. I honestly don`t see how an American manufacturing plant cannot supply more variety or volume of products to it`s own country for a cheaper price than china, which ships it across the pacific. The fact is, instead of paying 96 cents for a cup at wal-mart you`d pay 1.06. Is that really that bad? You`d see a dramatic turnaround in the economy, and therefore would be able to afford the dang cup in the first place.

2. Spending is out of control. I think the next president needs to get rid of, or at least GREATLY shrink several government offices that Bush has created. Number 1 on this list for me is the Dept. of Homeland Security. I think you should get rid of it alltogether, and if that isn`t possible shrink it to the point where it`s 2 guys in an office of the pentagon. The DoD has been great at handling Domestic issues for several decades, and this is just retarded to have this other department handle this when the DoD is extremely capable on it`s own.

generic_imitation : LVL 34: VP 4.2: said:

generic_imitation

6 votes NegativePositive

61 days 5 hours ago...

3. Government run healthcare would take the burden and worry off of the American public and place it where it should reside, lawmakers and health care providers. Many opponents of this idea usually are backed financially by the big insurance companies. The way to appease all parties involved is to give a basic care structure, and maybe in larger urban areas provide avenues to faster care where it otherwise wouldn`t be possible. But I don`t think you should be denied by your care provider just because of your financial situation. If the insurance companies don`t want to be left out to dry, they should get on board. There are several ways to do this. I`m not going to list them all, again I`m not a politican/lawmaker and I don`t know everything about this topic. I work for the government, and I get great healthcare provided by the U.S. for FREE. If they were to implement the Tricare system that is provided to service members while in the military to everyone, I think it would alleviate almost the entire problem.
I know, you`re asking where energy imports fall into my list. Well it falls right here

generic_imitation : LVL 34: VP 4.2: said:

generic_imitation

7 votes NegativePositive

61 days 5 hours ago...

4. Energy. I think we need to stop this import oil/drill off the coast nonsense debate. The pickens plan is pretty good. It would creat jobs and could use the current infrastructure that has been created by the oil giants to deploy and introduce CNG to the country. It costs about 40% less than gasoline, and if you factor in shipping costs and import costs from canada where we get most of our oil from, even more.
I`m going to put this into spiked comments on the topics in which it applies to, and I urge you all to add your own opinions on the matter, my idea`s aren`t perfect, but it`s definately a start. Instead of complaining to our lawmakers, we need to offer solutions, it`s the only way outta this crisis. My name is Craig Pardo, and I am a patriot worried about my country.

extern : LVL 26: VP 3.5: said:

extern

1 votes NegativePositive

61 days 3 hours ago...

Whoa, finally I agree to someone: ^ generic_imitation for president! :)

http://www.pickensplan.org/theplan/

ch33z3 : LVL 36: VP 4.4: said:

ch33z3

10 votes NegativePositive

61 days 3 hours ago...

I watched this shit live. C-SPANS never been so good.

clicker01 : LVL 18: VP 2.7: said:

clicker01

Hidden (Show Comment) -15 votes

61 days 2 hours ago...

generic_imitation your stupidity knows no bounds
be very proud of it it`s the only thing you have going for you.
you want government run healthcare?
Look how well the governmet handles social security.
Ask anyone from canada how well that works.
get rid of homeland security?
why not just open the borders and paint a target on your back and get it over with?
The DoD doesnt have the resources to do the job thats why homeland security was created.
As for " The pickens plan" thatss all well and good if we could survive without outside oil for the next thirty years and thats whe we have to take advantage of our own untapped resources here and now and not depend on foreign oil that could be shut of at any given moment.
as for the condition we are in now ...to be continued

think&write : LVL 23: VP 3.2: said:

think&write

16 votes NegativePositive

61 days 2 hours ago...

Sen. Bernie Sanders, my hat off for you. More people should see this.

clicker01 : LVL 18: VP 2.7: said:

clicker01

Hidden (Show Comment) -8 votes

61 days 2 hours ago...

During a swearing-in ceremony of the Democratic Congressional Black Caucus in 2005, Fannie Mae interim CEO Daniel Mudd gave special thanks to Barack Hussein Obama, who he named, and the Black Caucus. Mudd called the Black Caucus the "family and conscience of Fannie Mae." In 2005 when Mudd spoke to the Black Caucus Freddie Mac and Fannie Mae were being investigated by the Department of Justice for corruption and fraud. At that time, and up until the big market crash that just occurred, Fannie Mae and Freddie Mac, were being run by democrats, most of whom came from the former Bill Clinton administration. It is clear from the video that the democrats were in control of both Freddie Mac and Fannie Mac during their near collapse in 2005, and their collapse bail-out by tax payers a few days ago here in 2008. Lehman Bros., who have been around since 1840, went under because they bought bad mortgages from Freddie Mac and Fannie Mac, but didn’t know it, despite that fact, Lehman Bros. is the only company the government did not bail out.

In the video Barack Obama is named as having received the second biggest campaign donation from Freddie Mac for a total of $126,349.

Obama can’t claim he didn’t know about the troubles Freddie Mac and Fannie Mac had in 2005, or this year, because he was deeply involved in those companies for at least 3 out of his 4 years in congress. In the video you can see Obama in the back middle row. Obama has been pointing the finger. Someone needs to give him a mirror so he can point in the right direction.

video is here:copy and paste
http://www.hollywoodgrind.com/fannie-mae-ceo-thanks-barack-obama-in-
2005/

clicker01 : LVL 18: VP 2.7: said:

clicker01

-6 votes NegativePositive

61 days 2 hours ago...

May 26, 2006

Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.

John MCCain.

clicker01 : LVL 18: VP 2.7: said:

clicker01

-5 votes NegativePositive

61 days 2 hours ago...

Federal Housing Enterprise Regulatory Reform Act of 2005

Senate sponsors

Sen. Charles Hagel [R, NE]
Sen. Elizabeth Dole [R, NC]
Sen. John McCain [R, AZ]
Sen. John Sununu [R, NH]

House bill sponsors:

Rep. Richard Baker [R, LA-6]
Rep. Robert Aderholt [R, AL-4]
Rep. James Barrett [R, SC-3]
Rep. Roy Blunt [R, MO-7]
Rep. Geoff Davis [R, KY-4]
Rep. Tom Feeney [R, FL-24]
Michael Fitzpatrick
Rep. E. Scott Garrett [R, NJ-5]
Rep. Paul Gillmor [R, OH-5]
Rep. Jeb Hensarling [R, TX-5]
Rep. Walter Jones [R, NC-3]
Rep. Thaddeus McCotter [R, MI-11]
Rep. Patrick Mchenry [R, NC-10]
Rep. Ileana Ros-Lehtinen [R, FL-18]
Rep. Paul Ryan [R, WI-1]
Rep. Christopher Shays [R, CT-4]
Rep. Frank Wolf [R, VA-10]

Notice that there were no Democrat sponsors

Post a Comment:

Avatar


The Spikedhumor Drawing!Moderators Contest
Prize
Entry Dates: 11/4/2008-12/15/2008