Democracy Now Interview with Dennis Kucinich

Posted on September 30, 2008

0


Yesterday Dennis Kucinich was on talking about the lack of homeowner support among other things NOT IN DRAFT 2 of the “Emergency Economic Stabilization Act of 2008” H.R. 3997.

He suggested that spending that money on rebuilding the Nation’s infrastructure as far as roads, cleaning up water ways etc. would do more to stimulate the economy and would create jobs. You can see or listen to the interview from yesterday morning (before the vote)

Also here: http://www.democracynow.org/2008/9/29/is_this_the_united_states_congress The transcript of the interview is also available there.

Listen to the audio here: http://media.switchpod.com/users/democracynow/ftp/dn2008-0929-1.mp3

There’s alot of good information in the interview. The interview goes from 14:28 -33:36
The Democracy Now site has daily news reports on their site and a wealth of information go check it out.

Here’s an excerpt –

REP. DENNIS KUCINICH: This is a copy of the bill which will provide for a $700 billion bailout of Wall Street. It has provisions in it where it talks about helping homeowners, but when you read the fine print, you see it has language like “may” instead of “shall” and “encouraging” instead of “mandating” help for the millions of homeowners who are worried right now about whether they’re going to lose their home. There’s no help for them in this.

So what we have here is a rescue plan that essentially gives all the speculators a bailout and puts the bad debts in the custody of the government. The president of the Dallas Federal Reserve Bank has said that this plan could create a fiscal chasm, says that the problem isn’t tight monetary policy, it’s the reckless behavior of some of these investors who have now found themselves in a position where a government bailout is going to help reward their bad behavior. —FROM http://www.democracynow.org

Dennis is one of a few that are coming up with some alternatives to just giving Wall Street a big bunch of money. I will gather that info. and post it here soon.

————————————

HOW DID WE GET HERE?

It seems this all started with the deregulation of the Banking system. Who started that and who finished it off? I’ll look into this in detail in coming blog posts.

President FDR in 1933 said, “There Must Be a Strict Supervision of All Banking and Credits and Investments. There Must Be an End to Speculation with Other People’s Money.”

——————–

*Here’s a blogger that has some good questions and insights: Dave’s Blog

Advertisements