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NEWS & INFORMATION ON
THE ECONOMIC CRISIS



Click the Links Below for Full Stories

This page is updated often.
FedUpUSA is your online source for up-to-the-minute events surrounding the
Global Economic Crisis.





  • WASHINGTON, YOU'RE FIRED - December 8, 2009

    WASHINGTON, YOU’RE FIRED!” was born out of sheer frustration with abuses in our current political system and it gives a voice to Americans across the country. Producers Lewis and Abel trailed their way across the United States on an expedition to pull together the thoughts and requirements that everyday Americans have for their political representatives in Washington, D.C. The results were staggering and their stories are moving.
    The American people know in their hearts that a problem exists in our current political structure and their solutions are simple, direct, and honest. Washington, You’re Fired captures the spirit and zest of an old fashioned Boston tea party and captivatingly delivers the audience an education into legislation that will affect them and generations of Americans to come.
    From the mismanagement of Hurricane Katrina rescue efforts and law enforcement abuses to the wrongful imprisonment and torturing of legal enemy combatants and misuse of the FBI and NSA -- nothing is taboo in this disturbing look at the dark side of government.

  • The Entire Financial System is a Giant Ponzi Scheme - January 7, 2009


    No, it's not just Wall Street. No, it's not just the banks. No, it's not just the mortgage lenders, and no, it's not just Madoff - it's the entire financial system. It's purpose was to rob you blind. The financial whiz-kids who schemed this up also made sure that our governments would be complicit by lining the pockets of those in power. That's the bad news, but the good news is there are some 'good guys' out there. Tavakoli Structured Finance, people in a position to know how this stuff works, draws a clear picture of how this all works:




  • Layoff Daily


    Care to take a peek at how the "real economy" is doing today? Click the link above, and you'll get to keep track of just how many Americans are layed off each day, and which company sent them home.


    Happy New Year.





  • Wayne Rogers of Wayne Rogers & Co. on Fox News - is it time to ask for a refund of our 'bank bucks'? - January 3, 2008

    "You bet. This is an outrageous thing that has gone on down there. When he (Paulson) went down there with that page and a half or two pages and asked for this money, and the congress gave it to him. Secretary Paulson, what an idiot , and congress gives it to him without any accounting whatsoever. The public is paying for this. We should get that money back. By the way, I want everybody listening to this show to write your congressman, call him on the phone, march on Washington. If they can do it for civil rights, you can do it for your money because the government is stealing your money. That is what is going on. They should be giving it bask. Some of these banks when asked for this accounting said we are not going to disclose that. We refuse to disclose that. Outrageous."

    Jonathan Hoenig, CapitalistPig Asset Management: I think it would create more havoc. A lot of the money has been spent, invested. It is gone. I don't think the answer is to ask for a bailout refund. The answer is no more bailouts. Not for banks, not for insurance companies, homeowners or anybody. But to try to get that $350 back now would create more havoc and distortion in the marketplace.

    Tanya Acker. Democratic strategist: Both sides voted for a bailout in which there were absolutely no standards for how the money was going to be used, no standards for accountability, and no process for making sure the money is used for the goals for which it was intended. Good god, my parents put more standards for my childhood allowance than congress put on these guys. I don't know if it is feasible to get a bailout refund, but what is feasible, before we release the second half of the $700 billion we promised these guys, they have to be accountable to us, and there has to be a process in place that these funds are used in the manner if which they were intended.

    Jonas Max Ferris, MaxFunds.com: The banks were failing. Banks like Citigroup wouldn't exist right in and be out of business without that money. This is a private investment in the banking industry which is failing and would have failed without this money. You can't tell them to make loans. That is more government Fannie Mae type stuff. I don't really care what they do with the money as long as we own a stake in the bank and will profit as taxpayers.

  • CNN Money Presents a Short Video - December 31, 2008


    I disagree with them regarding Paulson being the dumbest person of 2008. We The People win the Dumbest Award - because we did nothing to stop him. I'm sure Tim Geithner will make Paulson look positively astute. BOHICA!

  • Only Full Disclosure of Toxic Debts Will Fix This Mess - December 28, 2008

    The commercial pillars holding up the Western world - banking prudence and sound credit - have been smashed to smithereens.

    The "advanced" nations are now flirting with economic collapse. The emerging economies have also suffered "collateral damage" – the West's "sub-prime" debt bombs now threatening the stability of global commerce.

  • Why Americans Need a New Monetary System - December 27, 2008


    The system is rigged, and not in your favor.

  • What Happened to the American Dream? - December 26, 2008


    This is the painful truth. The whole truth and nothing but.

    Many people are looking for an easy answer to the tyranny that is being imposed upon us by the oligopoly of government, corporations, and media. There is no easy answer. The original patriots struggled for 14 years to free themselves from British tyranny. Failure meant the hangman’s noose. Our politicians, corporate CEOs, and media pundits will provide comforting “solutions” that have been crafted by PR maggots. Their crafted talking points are lies. They have no idea what they are doing. The only question is whether rational change will come when the existing system collapses under the weight of its lies, or we take back the country through grassroots efforts and spreading the truth through the internet.

  • Where'd the Bailout Money Go? Sshhhhh It's a Secret. - December 22, 2008

    "We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."

    But no bank provided even the most basic accounting for the federal money.

    "We're choosing not to disclose that," said Kevin Heine, spokesman for Bank of New York Mellon, which received about $3 billion.

    Others said the money couldn't be tracked. Bob Denham, a spokesman for North Carolina-based BB&T Corp., said the bailout money "doesn't have its own bucket."

    Others, such as Morgan Stanley spokeswoman Carissa Ramirez, offered to discuss the matter with reporters on condition of anonymity. When AP refused, Ramirez sent an e-mail saying: "We are going to decline to comment on your story."

    Most banks wouldn't say why they were keeping the details secret.

    "We're not sharing any other details. We're just not at this time," said Wendy Walker, a spokeswoman for Dallas-based Comerica Inc., which received $2.25 billion from the government.

    Heine, the New York Mellon Corp. spokesman who said he wouldn't share spending specifics, added: "I just would prefer if you wouldn't say that we're not going to discuss those details."

  • Bailiffs Get Power to Use Force on Debtors - December 21, 2008


    In a stunning break from hundreds of years of property rights in the UK, bailiffs representing creditors have been granted new powers to violently separate people from their property in order to repay their debts. Coming soon to a country near you? We certainly hope not.

    The government has been accused of trampling on individual liberties by proposing wide-ranging new powers for bailiffs to break into homes and to use “reasonable force” against householders who try to protect their valuables.

  • Congress Ready to Hand Over Remaining $350 Billion to Hank Paulson - December 19, 2008


    Despite rhetoric to the contrary, Congress apparently has NO intention of making the Treasury Department disclose exactly how the FIRST $350Billion was spent. Instead, they're going to hand them a second helping. Keep in mind, there has been NO accounting for what happened to the first $350B, other than the fact that we know it went to insolvent banks who have failed to lend it to the real economy.

    Paulson today urged Congress to release the second half of the rescue funds after the government exhausted $350 billion in less than three months.
    “Congress will need to release the remainder of the TARP to support financial market stability,” Paulson said in a statement released in Washington. “I will discuss that process with the congressional leadership and the president-elect’s transition team in the near future.”

  • Belgian Government Collapses Over Fortis Affair - December 19, 2003

    BRUSSELS (Reuters) - Belgium's government collapsed on Friday after a top court found signs that it had sought to sway a legal ruling on the future of stricken bank Fortis.

  • Wall Street Coup D’état - December 19, 2008


    We were originally told that the whole problem was a sub prime mortgage problem. Unfortunately this is a LIE. The amount of all sub prime mortgages in America is $1.3 trillion Dollars. But the bailouts are already $8.5 trillion Dollars and growing daily. Why do you need $8.5 trillion to fix a $1.3 trillion problem?

  • Homes of the Rich & Bailed-Out - December 18, 2008


    So, just where did all that money go that we taxpayers are now on the hook for? Take an aerial tour of the homes of the bailed-out (by you) bankers and Wall Street fat cats.



    Image from Calculated Risk.

  • The Bank That Ate America - December 17, 2008

    The most remarkable thing in the US Federal Reserve’s statement this morning was not the cut in the cash rate target to near zero, although it was certainly a bit more than the market was expecting.

    It’s the fact that the Fed is now one of the largest and most important commercial banks of all time – by necessity and virtually by default, it is nationalising the US banking system. In a sense, the Fed is eating the banks.

    Page 2



    Pre-Bailout - History
    What Happened? How did we go from having a ‘sound economy’ to being in the middle of the worst economic crisis since the Great Depression within a matter of weeks? FedUpUSA fills in the blanks and answers questions about how we got here. These pages contain a myriad of resources and information to help inform and educate the American People.



    Educational material about today's economic system

    Billions for Bankers – Debts for the People – a handbook to the Federal Reserve and the banking system. http://www.justiceplus.org/bankers.htm



    Money, Banking and the Federal Reserve

    From the Mises Institute. A video that explains how the Federal Reserve and the banking system works.

    An Alternative to Debt-Based Currency - December 7, 2008

    For hundreds of years the production of people has been essentially stolen by those who regulate our monetary system. When the monetary system fails, what happens to commerce? What happens to people's ability to earn a living and get what they need in exchange? During the Great Depression, out of pure necessity, a town was able to do business without banks, with no interest being charged in the exchange of people's production and guess what? The town thrived. As more and more fnancial institutions fail and more and more of your money is being given to them, and they fail to loan it back out to the real economy, pursuit of an alternative to this inherently unfair situation seems prudent.
    Read More


    Debt as Money

    View the whole "Debt as Money" video at Google Video.


    Inflation

    Uncle $crooge McDuck explains inflation to his nephews.

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