Largest theft in U.S. history

[pelathais]

Originally Posted by OP_Carl

We have just witnessed the largest theft in U.S. history, fully sanctioned by the U.S. government now that it has been infiltrated to the highest levels by cutthroat corporate raiders.

The Bear Stearns building ALONE is worth more than JP Morgan paid for the entire company.

link to story

The treasury secretary that approved this used to work for Goldman Sachs, a direct competitor to Bear Stearns. Now the funds that were appropriated from the Fed to bail out Bear Stearns are going to be made available to Goldman Sachs and JP Morgan for lending. Forget that it is unconstitutional, immoral, and unethical to bail out an investment bank with taxpayers' money, this was an inside job that will harm thousands of people.


But let's all watch our presidential election/soap opera instead.

Bear Stearns should have been allowed to go down - but then they wouldn't have even gotten the $242 million that Morgan paid. And I question the statement about the "Bear Stearns building's" worth. $242 million seems a little high. And given that they leveraged everything else, did they really even own that building?

[Sam]

Originally Posted by Mosby48

When I saw the heading, I thought they were talking about the 2000 election, or Enron, or Haliburton!!!

Even the power of the Daley political machine brought in from Chicago could not steal the election for the Dems from Dubya.