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News Link • Economy - Economics USA

Bernanke: Wealth for Wall Street, Poverty for the People


It was just two years ago, a wealth transfer so brazen as to leave one breathless. The $700 billion Bush bailout met with so much hostility from the public that one congressman said his calls were running 50-50: 50 percent "no," and 50 percent "Hell no!"

Determined not to let it happen again, people across the country began linking arms in activism and tea parties. By last week they had changed Congress. Dozens of bailout supporters from the house and the senate had been turned out of office. So you’d guess that would pretty much put a lid on bailouts and wealth transfers, at least for now, right?

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