The rich get richer and the poor get poorer - report from the frontlines of the financial coup

need any more evidence that we've been the victims of a financial coup...?

what i find absolutely hysterical about this article is the leading sentence in the article's second paragraph...

Bailout Helps Fuel a New Era of Wall Street Wealth

[...]

It may come as a surprise that one of the most powerful forces driving the resurgence on Wall Street is not the banks but Washington. Many of the steps that policy makers took last year to stabilize the financial system — reducing interest rates to near zero, bolstering big banks with taxpayer money, guaranteeing billions of dollars of financial institutions’ debts — helped set the stage for this new era of Wall Street wealth.

a SURPRISE...? are you shitting me...? the only thing that's a surprise is that the nyt thinks that ANYBODY could think it's a surprise...

also unsurprisingly, we haven't even begun to hit the final tally at the check-out counter...

$1.4 Trillion Deficit Complicates Stimulus Plans

The Obama administration said Friday that the federal budget deficit for the fiscal year that just ended was $1.4 trillion, nearly a trillion dollars greater than the year before and the largest shortfall relative to the size of the economy since 1945.

didja get that...? "nearly a TRILLION dollars greater" than last year...? keee-rist...!

dave degraw has been doing good work chronicling this bald-faced highway robbery...

When we say financial coup, we're not giving you hyperbole. We're telling you the technical term for what has occurred.

Don't take our word for it, investigate it for yourself.

he offers the following links for your reading pleasure... nice work, dave...

Memo to Financial Investigators: Dig Deep

The Wall Street Coup D'Etat

Heated Press Debate Over $83 billion For Health Care, But Silence On At Least 20 Times That Amount Gone to Wall Street

Geithner's All Ears for Debt Cartel

Paulson's Revealing Phone Records

Geithner Aides Reaped Millions Working for Banks, Hedge Funds

Goldman Tops $3B in Profit, Blows By Estimates

JPMorgan Posts $3.6 Billion Profit

$140 billion! Record Payday for Wall Street

$23 billion! Goldman Sachs 2009 bonuses could buy insurance for 1.7 million families

A Hidden $34 Billion Bank Subsidy? Study Exposes How Taxpayers Are Subsidizing Large Banks

Top Financial Services Committee Members Rely Heavily On Finance Campaign Contributions

The Fight for Financial Reform

Foreclosures: 'Worst three months of all time'

Good News on Wall Street Means… What Exactly?

U.S. unemployment rate closes in on 10%

Still on the Job, but at Half the Pay

Bill Moyers: Wall Street Rescue Report

To Hell With Wall Street! Congresswoman Marcy Kaptur's Fight Club

Publicly-Owned Banks Can Help States and Residents

Take America Back From the Banks - Showdown in Chicago

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