Wednesday, 1 October 2008

“Is this the United States Congress or the Board of Directors of Goldman Sachs?”: Rep. Dennis Kucinich Rejects $700 Billion Bailout

The House is set to vote today on a $700 billion emergency bailout plan for the financial industry.

The proposed legislation was forged during a marathon negotiating session over the weekend between lawmakers from both parties and Treasury Secretary Henry 'Kamikaze' Paulson.

The 110-page bill would authorize Paulson to initiate what is likely to become the biggest government bailout in US history, allowing him to spend up to $700 billion to relieve faltering banks and other firms of bad assets backed by home mortgages, which are falling into foreclosure at record rates.

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