Scope of 700 Billion bail-out widens according to Bloomberg

[lonestarnot]

Shock Doctrine: Could our current economic crisis echo long-secret brush with fascism?
By Diane Sweet 9/25/08 12:03 PM
September 2008:

President George W. Bush proposes a massive bailout for Wall Street, of what was to be $700 billion, but already it turns out — not surprisingly, somehow — that the administration underestimated exactly how much, and who else needs to be bailed out. According to Bloomberg News:

http://www.freedomsphoenix.com/Find-Freedom.htm?At=038794

[lonestarnot]

1. kick

[ihavenobias]

2. K & R

[Trillo]

3. I read somewhere that $67,000,000,000,000 or close and similar to that figure

is the estimate of the value of derivatives, i.e., "highly leveraged", out there.

Just for kicks and giggles, assuming about 130 million individual taxpayers, that's a little more than 1/2 million, or

$585,000

per taxpayer. Oh, yeah, the middle class can afford that kind of transference.

The per corporation liability is about 11 million.

So after rewriting the bankruptcy laws for citizens to make Chapter 7 more difficult, (biggest contributor to political campaigns is Wall Street) now Wall Street is attempting to transfer their bad debts to citizens.

How Stupid does Wall Street think we are?