.. there are many words for what’s being done here.

What happened is: American taxpayers were swindled out of a huge chunk of money and the Fed doesn’t like answering questions. Bloomberg reports:

The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.(Read full article)

Bloomberg met with all kinds of resistance from the Fed which basically claims giving out details would make the financial crisis even badder. The Financial system was based upon trust they say. Trust. What trust?

So, they are throwing out trillions of dollars like ticker tape on a parade, but since the dollars are your dollars you are not allowed to know any details.

On the other hand there is an ailing car industry. Yes I know. It is their own fault and all that, but it is American’s jobs being lost there, a lot of American jobs. They claimed they need a comparatively meagre $25 billion and now even the sum of $ 14 billion was rejected by Senate Republicans, because workers wouldn’t agree to lower their wages. Wages which would be used to bolster the demand side of economy, if you think economically. Wages which make sure those people can live decently off the income they worked for, if you think like a fellow human being.

You’re not only being bamboozled, conned, hoodwinked, hornswoggled. This amounts to the assassination of the American middle class, or rather what’s left of it.

The phenomenon is not an American only, however, Switzerland just bailed out it’s largest bank UBS with 6 billion Swiss Francs and bought up some poisonous assets for some 60 billion, but when the Swiss cabinet asks for an economic stimulus package..

Well you can’tr really do that in a free market society, can you?

EV