This link has been bookmarked by 2 people . It was first bookmarked on 19 Nov 2008, by Phil Baumann.
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19 Nov 08
Phil BaumannIncluded: $60 Trillion in unfunded liabilities for Social Security & Medicare.
Also: former Goldman Sachs chariman John Whitehead: "...I wonder if tomorrow is the day Moody's and S&P will annonce a downgrade of US government bonds."-
ideology trumps common sense, reality and the facts. Greed drives ideologues to blow bubbles. They pop. Crashes happen. The public is collateral damage.
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Henry Paulson was at Camp David warning the president and his staff of "over-the-counter derivatives as an example of financial innovation that could, under certain circumstances, blow up in Wall Street's face and affect the whole economy."
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Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states
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State, municipal, corporate pensions lost hundreds of billions on derivative swaps
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Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns
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Fed also plans to provide billions to $3.6 trillion money-market fund industry
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Social Security, Medicare with $60 trillion in unfunded liabilities
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John Whitehead
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