2008 – US CONGRESS APPROVES $700 BILLION BAILOUT FOR BANKS
The largest US banks were bailed out by US taxpayers since they were considered “too big to fail.” Main Street businesses and side street homeowners facing foreclosures (due in large part to the speculative practices of major financial institutions) received no such support. Many of these major banks were major political campaign contributors/investors in the 2008 political campaign. The final bailout legislation was a revised and slightly better version of an original bill proposed by Sec. of Treasury Hank Paulson that was literally only a few pages in length. Massive public anger resulted in a flood of calls, emails and visits to congressional offices. The original proposal was defeated by Congress.
1923 – BIRTH OF CHARLTON HESTON, ACTOR [I KNOW THIS IS A BIT OF A STRETCH]
“You shall not charge interest to your countrymen…”A quote from Moses from the Bible, Deuteronomy 23: 19-20 Moses was born sometime in 1527 BC. Since the exact date is unknown, why not use the birth date of the guy who played him in films!
1946 – BIRTH OF DENNIS KUCINICH, CONGRESSMAN, OHIO
Author of the National Emergency Employment Defense [NEED] Act, introduced in 2010 and 2011 [HR 2990 in 2011]. Among the bill’s provisions are: (a) make the Federal Reserve System more accountable by placing the Fed under the US Department of Treasury, (b) create government issued money to hire people to repair the nation’s physical and human infrastructure, and (c) eliminate fractional reserve lending – the practice that permits banks to lend out many times more funds that they actually possess.
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact email@example.com For more information, visit http://www.afsc.net/economiccrisis.html