Wall Street 700 Billion, Detroit 0

jonraymond.blogspot.com by Jon Raymond | Nov. 20, 2008 (News Analysis)

Typically we have news pundits using baseball, football or boxing analogies to describe what goes on in politics. They got it wrong. This is poker. Paulson and the current administration were dealt a great hand and the rest of us are about to get creamed by the economy. A depression may be about to hit this country because of the banking industry. But it looks like Congress wants to blame it all on Detroit. Full Story »

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Subjects: U.S., Business
Topics: U.S. Economy
Member Tags: detroit automakers bailout, Wall Street bailout, henry paulson
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Posted by: Posted by Jon Raymond - Nov 20, 2008 - 12:07 PM PST
Reviewed by: Jon Raymond (review)
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Edited by: Jon Raymond - Nov 20, 2008 - 12:07 PM PST

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Jon Raymond
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 by Jon Raymond - Nov. 20, 2008

A well documented summary of the media story on the Detroit automaker bailout question.

The news media is helping this Congress throw up a smoke screen to hide the fact that Paulson has illegally ignored the stipulations on the Wall Street bailout, as well as recent accounts that the treasury secretly doled out another $2 trillion in bailout loans.

So the auto guys flew into town on their corporate jets, and Washington had a problem with them asking for a handout. Am I missing something here? Wall Street guys on ... More »

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