January 14, 2009 by Subir G.
Comments (5)
kucinich, federal reserve, economy
GO DENNIS!!!
here is the 1 minute speech he made today:
"Instead of using bailout money to help people save their homes the banks hoarded $350 billion in Troubled Asset Relief Program funds. They used the money to buy other banks and created a credit freeze. The banks have been permitted to pyramid debt out of sight. If we bail them out then the government and the corporate state become one and the same. The wealth of the nation is being accelerated upwards. We’re moving from industrial capitalism to feudal capitalism. The rich get richer, while ten million Americans are out of work, ten million Americans face loss of their homes and American manufacturing jobs are in danger.
We have to take control of our money system. Put the Federal Reserve under Treasury and end the fractional reserve system. We don’t have to borrow money from the banks putting ourselves deeper in debt. We can create the money - spend it into circulation for jobs, health care, education and infrastructure. Throughout history those nations have prospered which have had control of their monetary system. I am going to be introducing legislation to help affect exactly that."