NO ADVERTISING, GOVERNMENT OR CORPORATE FUNDING

  • Latest News
  • Pitch a Story
  • Work with a Journalist
  • Join the Blog Squad
  • Afghanistan
  • Africa
  • Asia
  • Baltimore
  • Canada
  • Egypt
  • Europe
  • Latin America
  • Middle East
  • Russia
  • Economy
  • Environment
  • Health Care
  • Military
  • Occupy
  • Organize This
  • Reality Asserts Itself
  • US Politics
  • Bailout sparks anger


    Protesters take to the streets to condemn Wall Street bailout plan -   September 28, 2008
    Members don't see ads. If you are a member, and you're seeing this appeal, click here


    Audio

      Share to Twitter
    Share to Facebook




    Understanding info is a powerful thing. Thank you to all of your reporters for making a significant difference. - Nancy SmithEaken
    Log in and tell us why you support TRNN

    Precis

    The treasury’s bailout plan is facing headwind from both Congress and voters. Public backlash spilled into the streets on Thursday as protesters rallied against the proposal to use tax dollars to bailout Wall Street. Hundreds gathered near the New York Stock Exchange to voice their frustrations. CNNMONEY.com and NYMAG.com were on the scene of the demonstration.

    Transcript

    Bailout sparks angerBailout plan sparks anger

    JESSE FREESTON (VOICEOVER), TRNN: The US government's proposed bailout of Wall Street provoked a national day of protests on Thursday. Dubbed "cash for trash" by skeptics, the proposal to hand over $700 billion to Treasury Secretary Henry Paulson has angered Americans from across the political spectrum. Truemajority.org said its members organized over 251 events in more than 41 states to protest the bailout. The largest gathering took place in New York City, where several hundred protesters yelled enthusiastic support as union leaders decried the bailout.

    Courtesy: nymag.com

    PROTESTER: Bush and Paulson are taking our hard-earned tax dollars to buy useless junk financial instruments from Wall Street, right, that have no value. They're just going to assign an arbitrary value on it just to infuse a lot of cash into the pockets of the people that got us into this mess. So people are bringing their junk, and they're putting an arbitrary value on it, just like the Wall Street bankers are, and saying, "Bail me out too."

    PROTESTER: I think that's just taking advantage of a crisis in order to frighten the American people into submission.

    PROTESTER: This is money that we could use for health care, we could use for education, we could use for housing, and we could use it even to create jobs and stimulate the economy that way. But instead we're going to buy all these bad assets from these banks. Maybe we do need to have some sort of bailout, but it really has to have really strong regulations. It has to have some sort of taxpayer ownership in the companies. We need to get some of the profits back once they start being profitable again.

    DISCLAIMER:

    Please note that TRNN transcripts are typed from a recording of the program; The Real News Network cannot guarantee their complete accuracy.


    Comments

    Our automatic spam filter blocks comments with multiple links and multiple users using the same IP address. Please make thoughtful comments with minimal links using only one user name. If you think your comment has been mistakenly removed please email us at contact@therealnews.com

    Comments


    Latest Stories


    Israeli Human Rights Spokesperson: Attacks on Civilians Unjustifiable
    What Is Shaping Global Production and US & EU Trade Policy? - Faizel Ismail (2/3)
    Police Brutality and the Failure of Liberal Democrats
    "We Are Going through Hell" - Report from Gaza
    Lack of International Pressure Permits Endless Assault on Gaza
    What is the Doha Round and How Many Livelihoods Hang in the Balance? - Faizel Ismail (1/3)
    Dodd-Frank Still Not Fully Implemented Four Years Later
    Nigeria: Boko Haram Born of Poverty and Elite Politics
    White Racism, Left Politics, and the Spectrum of Acceptable Opinion
    Sweden Violates Assange's Human Rights
    The Fight for the Freedom of Information
    All Parties Involved to Blame for Malaysian Aircraft Disaster in Ukraine
    "U.S. Complicity Brought Up to Date" in Israel's War against Gaza
    BRICS: Progressive Rhetoric, Neoliberal Practice
    "Evacuate to Where?" - Report from Gaza and Israel
    Is the New BRICS Bank a Challenge to US Global Financial Power?
    Privatization, Public Health, and the Detroit Water Crisis
    All Governance in Libya Remains Contested
    Occupation of Palestinian Territories Likely to Intensify in Coming Months
    Hedges and Lessig on Money and Politics (3/3)
    Why Hamas Rejected the Ceasefire
    Hedges and Lessig on Money and Politics (2/3)
    How Close Are Iraqi Kurds to Achieving an Independent State?
    Cycles of Violence with Gaza Rooted in Israel's Rejection of Palestinian Unity
    Imagining Economic Policy Focused on Women
    Report from Israel's Border with Gaza
    Who Is the Unsung Hero of the $7 Billion Citigroup Settlement?
    Court Orders Arizona to Provide Young Immigrants Access to Driver Licenses
    One Year after Historic Oil Train Disaster, Risks Abound
    $32 Billion For-Profit College Industry Becomes Pass-Through for Wall Street

    RealNewsNetwork.com, Real News Network, Real News, Real News For Real People, IWT are trademarks and service marks of IWT.TV inc. "The Real News" is the flagship show of IWT and Real News Network.

    All original content on this site is copyright of The Real News Network.  Click here for more

    Problems with this site? Please let us know

    Linux VPS Hosting by Star Dot Hosting