Freddie Mac, When Are You Coming Back?

[marmar]

from HuffPost:




Danny Schechter
Freddie Mac, When Are You Coming Back?
Posted July 12, 2008 | 12:37 PM (EST)



BOSTON: Sorry Dr. Phil 2, it's time for us to do some whining, not about how bad things are but about what some bad guys are doing to destroy our country and our lives.

Whining of course is only a first step. After that, we need to recognize that we have a right, if not a duty, to talk about more than what the political candidates are talking about. We have to confront the real power brokers who have now broken our economy and are plunging us deeper and deeper into decline.

Are they, perhaps, "tipping" us, beyond that point of no return?

On Friday July 11, as the world financial markets were quaking because of the threats to two government linked companies with five TRILLION dollars in mortgages, as the Senate rushed to complete a bail-out bill for homeowners that may not bail anyone out, and the Federal Reserve Bank announced tough new, and perhaps irrelevant regulations on a subrprime realty market that has all but disappeared, news outlets were reporting the death of the owner of the Benihana restaurant chain and Larry King was doing another show about UFO's.

With a distraction machine working overtime, we seem to be living in a permanent three-room circus, with a constantly titilating sideshow often sucking up most of the airtime and attention. Britney Spears has replaced the bearded lady from days gone by as the iconic draw. ......(more)

The complete piece is at: http://www.huffingtonpost.com/danny-schechter/freddie-mac-when-are-you_b_112318.html