major banks are stepping in to make contributions, jp morgan, bank of america, citigroup, wells fargo, is that a good sign the private sector stepping up to help the crisis. i would rather have private banks than have bailout nation. i m against the federal government bailing out every big business and every big bank that fails. i just hate the relationship between big business and big government. but the question then, mike, is are these banks intervening because there s fear of a contagion effect. the good news is the banks that you re talking about, bank of america, citibank and, of course, jp morgan. they have hundreds of billions of assets. i have to add one thing because people are nervous. you have deposits in a bank, they are safe. they are federally ensured up to a quarter million dollars, most
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Shutting down a museum on the smithsonian wall you never saw tea party people occupy a park and refuse to leave. i think it will reenergy the left. on the other hand the independent voters are going to say why are liberal democrats siding with these ruffians in many respects. i think it is going to be a mixed bag for the left. these are not the kind of tea party people that used to pick up their crash and quietly go home. heather: it is great to see such involvement on both sides, the left or the right. oh this is good news. lookç, some of the occupy the left complaints are valley. we did have a bailout nation in 2008 and 2009. big banks were complicit with the people who were fueling the housing bubble. subsidies of course, are a bad thing they lead to horrible outcomes look at the solyndra scandal.
Should we really be doing more money printing, saving more people? and shouldn t we actually be considering a global debt restructuring on the honest assessment that we have built a banking system on fraud? our thursday megapanel, karen, susan, and jimmy join us on the hotline. jimmy retail, author of bailout nation. barry, what exactly is our central bank doing today, or doing this week? let me first say, happy anniversary, today is the lehman brothers anniversary thank you. i knew i had a spring in my step. it s ironic that la bailout is taking three years after la lehman collapse. to the day. so let s take a quick look at europe. what s going on there is a fear of another lehman, which didn t cause the rest of the collapse, but it certainly precipitated