Washington Mutual is telling people they are not participating in the government bailout? November 10, 2008

Washington Mutual, the failed financial institution bought by Chase, is telling troubled homeowners that they, “are not participating in the government bailout, not reducing mortgage debt, not writing down any mortgages.”
So all the loyal taxpayers out there can rest assured that Chase took the government billions and will not be helping any of the WaMu [...]

It’s not Capitalism its a pyramid scheme. September 30, 2008

The economy has been a complex pyramid scheme for some time now.
Let get back to the basics to save this country.

Banks call loans early to try and boost cash reserves. September 30, 2008

Banks have been calling loans early, at the first 31 days late moment, to try and flip and cash out their equity. Despite the fact that this leads to losses in the long term it boosts the cash reserves. Rather than waiting 15-30 years as the borrower pays back the loan and interest they are [...]

Bailout plan Fails to pass, Markets Plunge September 30, 2008

The bailout plan failed to pass the house. Despite claiming the plan would pass, House Republicans didn’t back the bill. Many Democrats didn’t back the bill either. While Senator McCain took credit for joining the parties and rescuing the bill, the bill didn’t pass. So he rescued, I’m not sure.
The credit crunch continues. Maybe we [...]