NO ADVERTISING, GOVERNMENT OR CORPORATE FUNDING
DONATE TODAY


  September 28, 2008

Bailout sparks anger


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



audio

Share to Facebook Share to Twitter



I support The Real News Network because it cured my vertigo from all the spinning by Fox and MSNBC. - David Pear
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

latest stories

"Any Democrat Won't Do" - Nina Turner on RAI (3/4)
Inauguration Protest Organizer: Trump-Pence Administration Fomenting Climate of Hate
Scott Pruitt Acknowledges Climate Change While Denying Scientific Census of Human Responsibility
Bernie Sanders Hammers Tom Price Over Right to Healthcare in Senate Hearing
Sensing Trump Will Give Free Pass to Israel, Palestinians Announce Plans for Unity Government
Theresa May Reassures British and Foreign Capital Over Brexit
Wilbur Ross's Economic Expertise: Exploiting Tax Law
The Bizarre Far-Right Billionaire Behind Trump's Presidency
Education Secretary Betsy DeVos is a 'Horrifying Prospect' for Public Schools
Nina Turner Show Coming to The Real News
An urgent letter from Emma Thompson & Danny Glover
Donald Trump: The Raw and Naked Face of a System That Showers Speculators with Obscene Riches
UAW Local 9 Members Speak Out Against 8 Month-Long Lockout
Oscar Lopez Rivera to Be Freed After 36 Years in US Prison
Human Rights Watch: Obama Broke the Law by Not Prosecuting Bush and Cheney
Nina Turner Kept Off DNC Stage as Punishment for Supporting Sanders - RAI (2/4)
President Obama Commutes Sentences of Chelsea Manning and Oscar Lopez Rivera
Nationwide Protests Planning to Disrupt Trump's Inauguration
Former Black Panther: Trump Win Gives Us Unique Opportunity to Organize the Ongoing Freedom Struggle
Low-Wage Workers in London Protest Against Management Taking Their Tips
TRNN Replay: Obamanomics: Is this real change?
Chelsea Manning on TRNN
"The Democratic Party Can't Just Whisper Sweet Nothings Anymore" - Nina Turner on RAI (1/4)
Trump's Biggest Donor Bankrolls Israeli Right Extremism
Climate Change-Induced Droughts in Africa Spawn Food Shortages, Mass Child Malnutrition
AZ Attorney General Pursues Denial of In-state Tuition for DACA Recipients
Rattling the Bars: Juvenile Life Without Parole
Demonetization: A Body Blow to the Indian Economy and People
Obama and Congress Just Made it Easier For Trump to Arm Syrian Rebels
TRNN Replay: Beyond Vietnam: A Time To Break Silence

TheRealNewsNetwork.com, RealNewsNetwork.com, The Real News Network, Real News Network, The Real News, Real News, Real News For Real People, IWT are trademarks and service marks of Independent World Television inc. "The Real News" is the flagship show of IWT and The 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 Stack Star Hosting