In article ,
Nad R wrote:

However, not just banking laws. It was President Carter that allowed the US
government to purchase stocks. Before Carter it was illegal for the
government to own stocks. Many other governments of the world followed suit
and purchased stocks and bonds as well, which drove the stock markets even
higher. If the governments did not buy stocks, the world would not be in a
mess also. I believe this did far more damage than removing Glass-Steagal.

Really, when Glass Steagal prevented excessive leveraging? Leveraging
that went to $35 in commitments to $1 in cash on hand after Glass
Steagal was repealed. Then when the investment banks got our money, and
were given 0% interest loans, did they make that money available to
business in the form of loans? No, they took their (our) money and
invested it at 3% interest in T- bills, gave bonuses all around, and
headed on out to expensive resorts for retreats, uh-huh.

Meanwhile back in Athens, Papandreou tried to allay public anger
byÂ*promising to lower corporate taxes in an effort to revive the
debt-plagued country's shrinking economy.

He said the tax rate on companies' retained profits would be cut from 24
to 20 per cent next year, providing what he called "a strong incentive
for investments and competitiveness'.'

He promised to also deregulate the energy market, settle on
privatisation targets and simplify business licensing procedures by the
end of 2010.

HeÂ*said it would overhaul loss-making state firms including Hellenic
Railways (OSE), which has debts of $13.62bn, by cutting payroll and rail
services. (Cutting train service means more money spent on oil and
gasoline to move people and goods in Greece.)

Laurence Lee, Al Jazeera's correspondent in Thessaloniki, said: "What
the protesters want more than anything is for money not to be taken from
them but from the rich. In his speech Papandreou acknowledged that.
"He said he accepted the economic measures had been unpopular. He said
he knew it was unfair to be taking money from the poor to the rich but
said it was vital for Greece.
----

Does any of this sound familiar to you? We aren't that far from being in
the same situation.

What are our options?

Viva Tunisia, Viva Egypt
(where the demonstrators know that the police and para-militaries got
their training and supplies (tear gas, bullets, tanks, and F-16s from
the United States)
--
- Billy
"When you give food to the poor, they call you a saint. When you ask why the poor have no food, they call you a communist."
-Archbishop Helder Camara
http://peace.mennolink.org/articles/...acegroups.html
http://english.aljazeera.net/indepth...130964689.html