Keyword: Paul Volcker

Did Bush Bail Out Bankers With Billions for Bonuses Email Print

Could the collapse of the U.S. banking system represent capitalism's last gasp?

President-elect Obama declared the U.S. needed change.  With the economy collapsing after manufacturing ran away and big banks failing, obviously some drastic changes were desperately needed.

Time along can tell if the changes Obama is able to make can salvage our nation, that once was economically independent, that is a far cry from today's dependency on China, Saudi Arabia and Japan who are buying U.S. bonds to keep our nation's Iraq and Afghanistan long running wars going.

That plus the ever increasing welfare system must be kept going.  U.S. citizens depend on government funding for food (35 million in U.S now on food stamps), housing, health care and education.  With 10 million unemployed now welfare is obviously essential.

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