INSIDE JOB – Understanding the Collapse of the Economy -REMOVED

Posted on August 2, 2011 by Deadly Clear

I’d like to think my blog was enough of a threat to Wall Street to pull YouTube clips off the Internet – but this afternoon INSIDE JOB was gone. SONY PICTURES pulled the clips off of the Internet.

It’s a great documentary – if you can find a copy buy it, rent it share it with your friends. Everyone should know what happened to our economy. We cannot ignore it because it’s not going away or getting better any time soon.

‘Inside Job’ is the first film to provide a comprehensive analysis of the global financial crisis of 2008, which at a cost over $140 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Continue reading →

INSIDE JOB Parts 3 & 4 – REMOVED

Posted on August 1, 2011 by Deadly Clear

Part III: The Crisis
By this time, warnings were being sounded by advisors to the Federal Reserve (the Fed) and the FBI, which was seeing a rise in mortgage fraud. Hedge fund manager Bill Ackman and author Charles R. Morris sounded public warnings. The market for CDOs collapsed and investment banks were left with hundreds of billions of dollars in loans, CDOs and real estate they could not unload. What would later be called the Great Recession had begun (November 2007).

Part IV: The Financial Rape of Investors
Wall Street’s deviant behavior extended to to the top. Strip Clubs, drugs, over-the-top expenses like corporate jets to go golfing, entertain or vacation were the norm rather than the exception. The funds that fueled this moral hazard came from pension and retirement funds from government workers, unions and corporate retirement beneficiaries.

Where are we now?

Understanding the Cause of the Economic Collapse

Posted on August 1, 2011 by Deadly Clear

The average person is wondering why America can’t get out of this Depression and while we are not in bread lines like the 1930s – we’re getting awfully close. Families are being displaced by foreclosures. More tents are popping up around the cities and jobs are still hard to find.

To help understand what happened and what we can do about it let’s start with DERIVATIVES. These are unregulated investment vehicles that gambled away pension and retirement funds from around the world – so Wall Street could get rich… quick! This small clip, from the excellent documentary INSIDE JOB, explains in easy-to-understand terms how Collateralized Debt Obligations, or CDO derivatives, were instrumental to the global financial meltdown.

I highly recommend this documentary. INSIDE JOB sheds light on what really happened in 2008. Here’s a clip with the whole movie to follow. Continue reading →

Cut Social Security, Medicare, and Medicaid and not raise taxes on the wealthy?

Posted on August 1, 2011 by Deadly Clear

CALL CONGRESSWOMAN HIRONO AND TELL HER “NO”!
Why would we agree to cut Social Security, Medicare, and Medicaid and not raise taxes on the wealthy? They’ve had tax cuts since Bush and has the economy gotten any better? It’s time for Real Change.

Last night, President Obama agreed to a deal with top Republicans that is widely seen as a big victory for the Tea Party.

It has trillions in spending cuts that will hurt poor and middle-class families and no taxes on the rich. It also lines up Social Security, Medicare, and Medicaid benefits for future cuts.

Nancy Pelosi said “none of us may be able to support it” — but many Democrats are making up their minds in the next few hours.

Your Representative, Mazie Hirono, signed a letter pledging not to vote for any deal that cuts Social Security, Medicare and Medicaid. Can you call her right now?

Tell Rep. Hirono to keep her promise and vote NO on this bad deal — click here for the number and a script. Here’s what folks are saying about this deal: Continue reading →