Citigroup Bailout Fuels Wall Street Boon

Dow Jumps 400 Points On Government's Plan To Rescue Troubled Financial Giant

(CBS/AP)  Wall Street barreled higher Monday for the second straight session, this time in a relief rally over the government's plan to bail out Citigroup Inc. - a move it hopes will help quiet some of the uncertainty hounding the financial sector and the overall economy. The Dow Jones industrials soared nearly 400 points and the major indexes all jumped more than 4.5 percent.

The surge gave the market its first two-day advance since Oct. 30-31 and the Dow's biggest two-day percentage gain since October 1987; the 891-point rise over the two sessions also wiped out an 872-point plunge over the course of Wednesday and Thursday. Although investors sensed late last week that a rescue of Citigroup was forthcoming, investors nonetheless were heartened, even emboldened, by the U.S. government's decision late Sunday to invest $20 billion in Citigroup and guarantee $306 billion in risky assets.

Wall Street's enthusiasm grew not only because the bailout answered questions about Citigroup but also because many observers saw the move as offering as a model for how the government might carry out other bank stabilizations.

"This could be the template for saving the banks," said Scott Bleier, founder of market advisory service CreateCapital.com.

"The government has taken a new quill out, they've gone to where they didn't go before in terms of trying to secure the system," Bleier said. "Some of that vulnerability seems to be gone now."

Still, the market remains wary, especially with the economy in a serious downturn. The Dow was up more than 500 points in the last hour before giving up some of its gains - many investors wanted to take some money off the table before the next bit of bad news arrives. And the market has frequently done sharp reversals since the start of the credit crisis 15 months ago.

The government is injecting money into Citigroup with strings attached, reports CBS News correspondent Kelly Wallace.

The money will come in exchange for shares that will pay eight percent back to the taxpayer; Citigroup also agrees to place limits on executive pay and help homeowners facing foreclosure, reports Wallace. But some analysts say the bailout doesn't go far enough - and that the company will need much more from Uncle Sam.

"The $20 billion is about 10 percent of what Citicorp needs to get back to financial health," said Sean Egan of Egan-Jones Ratings Company. "They need about 200 billion, they got 20."

The efforts from the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp. to help stabilize Citigroup are only the latest this year to support a banking system troubled by bad debt and flagging confidence. Besides implementing its $700 billion bailout plan for the overall financial industry, the government has bailed out insurance giant American International Group Inc. and taken over lenders Fannie Mae and Freddie Mac.

"You're definitely seeing relief," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "More than anything, the Fed repaired some of the psychological damage that was being done to the sector. I think the Fed is poised to do whatever they possibly can to help the financials get through the current turmoil."

"Not all banks are unhealthy, so knowing that the Fed is there is enough," Conroy said.

According to preliminary calculations, the Dow rose 396.97, or 4.93 percent, to 8,443.39.

Broader stock indicators also jumped. The Standard & Poor's 500 index advanced 51.78, or 6.47 percent, to 851.81, and the Nasdaq composite index rose 87.67, or 6.33 percent, to 1,472.02.

The Russell 2000 index of smaller companies rose 30.25, or 7.44 percent, to 436.79.

The rise in stocks follows a rally Friday that saw the Dow industrials jump 494 points, or 6.5 percent. The other major indexes also rose sharply. Still, stocks ended the week with a loss after heavy selling Wednesday and Thursday.

"I think it's a little bit of confidence coming back into the system right now," said Harry Clark, chief executive of Clark Capital Management. He contends the market began to form a bottom in an Oct. 10 sell-off and on Thursday made further headway toward setting a low that could give way to a rally.

Bond prices were mixed Monday as investors examined the government's bailout plan for Citigroup. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.36 percent from 3.20 percent late Friday.

The Treasury bill market showed continuing high demand, a sign of investors' caution. The yield on the three-month T-bill, considered one of the safest investments, fell to 0.02 percent from 0.04 percent late Friday.

The dollar was mostly lower against other major currencies, while gold prices rose.

Light, sweet crude rose $4.61 to $54.54 on the New York Mercantile Exchange.

Jim Baird, chief investment strategist with Plante Moran Financial Advisors, said the uncertainty over whether the government's cocktail of direct investments in financial houses and support of debt obligations will prove effective has led to recent stock market volatility. He warned, however, that the concerns about banks and the broader economy are likely to continue, he said.

"Just the sheer breadth of potential outcomes is very, very wide which I think makes it difficult for investors to determine how do you play it from here."

Stocks briefly came off their highs of the session in the middle of the session, with the Dow paring its gain from 300 points to 200 points, as President-elect Obama formally named his economic team but didn't offer specifics of an economic stimulus package nor state that he would push back a plan to raise taxes on the richest Americans. He reiterated his goal of creating 2.5 million jobs during the next two years.

Alan Lancz, director at investment research group LanczGlobal, said that while the market might have wanted a firmer commitment against raising taxes, it was too soon for Obama to outline specifics. Lancz expects the new administration wouldn't rush to implement the hikes if the economy appeared too weak.

"There's so many balls in the air right now he'd be foolish to make specific comments," Lancz said, noting that the economic picture could change greatly by Inauguration Day, which is Jan. 20.

Wall Street shrugged off a larger-than-expected drop in sales of existing homes last month as investors instead focus on the government's plans for the financial sector. And while the housing numbers fell short of expectations, Wall Street expected sales would fall sharply after last month's upheaval in the financial markets.

The National Association of Realtors says sales of existing homes fell 3.1 percent to a seasonally adjusted annual rate of 4.98 million in October. That's down from 5.14 million in September.

Citicorp's stock shot up nearly 60 percent Monday to just under $6 but the stock market rally might be short-lived -- shares of other major U.S. banks like Bank of America and JPMorgan Chase have lost more than 50 percent this year, reports Wallace.

Advancing issues outnumbered decliners by about 7 to 1 on the New York Stock Exchange, where volume came to 2.04 billion shares.

Overseas, Britain's FTSE 100 jumped 9.84 percent, Germany's DAX index surged 10.34 percent, and France's CAC-40 rose 10.09 percent. Hong Kong's Hang Seng index fell 1.59 percent; markets in Japan were closed for a holiday.

[ddaryl1]

nothing like Bush helping out his Saudi Arabian buddies... cronism is live and well with the Bushies...

[doug5231]

The house of cards is going to come crashing down. I give it two weeks at most

[aggiekat2004]

All the executives responsible for mis-management have been fired and their bonuses seized right?
We can''''t let the same people remain in charge.

Posted by kevinkkloste at 04:45 PM : Nov 24, 2008
----------------

Oh wait...I just saw an article that said it was "bonus season" on Wall Street, and that everyone was getting their usual bonuses.

This STINKS.

[jntlw-2009]

It is all about Wall Street. How can they boon when the trust factor for an investor is ziltch as in less than zero? This is so orchestrated with fear so the average investor panics and sell low so the newly infused with government bailout money bank can turn around and buy it all up for a pitence. Citi group can''t even give a dividend for 3 years for taking the bailout - so why would anyone buy junk stock that pays no dividend? See the fraud happenidn before your eyes. Bush is evil and needs to be imprisioned as a traitor and an evil fraud. ditto for Paulson, Schummer and others. I''ll never invest in those evil creatures or anything they touch!

[jntlw-2009]

It is all about Wall Street. How can they boon when the trust factor for an investor is ziltch as in less than zero? This is so orchestrated with fear so the average investor panics and sell low so the newly infused with government bailout money bank can turn around and buy it all up for a pitence. Citi group can''t even give a dividend for 3 years for taking the bailout - so why would anyone buy junk stock that pays no dividend? See the fraud happenidn before your eyes. Bush is evil and needs to be imprisioned as a traitor and an evil fraud. ditto for Paulson, Schummer and others. I''ll never invest in those evil creatures or anything they touch!

[presjfk]

No company of any industry, auto, bank, finance or otherwise - should be allowed to get to the size that if they fail, they take our economy with them. There are laws on the books preventing monopoly''s and those laws should be amended to include these behemoths that can destroy our country. Citi should first have never been allowed to get this big and second, should have been busted up into 30+ pieces after the fact. Bank of America should be targeted for this and many others.

[whitewolf60]

Whoopie.... another handjob for the wealthy!

[rchristiano-2009]

Anyone know where I can apply for my bail out dollars?
Need to get my 401K and stock losses back.

[perceptions5]

Good job President Bush.

Always at work no matter what day of the week it is or even if there''s a holiday.

BTW if anyone wants to know what our 110th Do Nothing DEMOCRAT Congress is doing......................well their on vacation, AGAIN.

But don''t worry these worthless Dems that took their eye off our economy nearly two years now so they could conduct their politicial lynchings and endless votes on US troop withdraws from Iraq..................well this same worthless bunch is coming back in December.

They told everyone to have a nice day...................................

[ontheleft]

"This could be the template for saving the banks," said Scott Bleier, founder of market advisory service CreateCapital.com.

What a fine blueprint. Just let the taxpayers bail out every last financial company who irresponsibly gambled in derivatives. When the system inevitably collapses, it will all be on the taxpayers. The whole country will go bankrupt and the dollar will collapse. Then what?

[shanev137]

They could have bypassed the banks and made low interest loans directly to the people and applied the interest to the national debt.

Posted by rightbehind at 05:49 PM : Nov 24, 2008

-----------

and they could have put stipulations on it like it had to be used to start new manufacturing business that create jobs.

[txgrouch2007]

There is just nothing left to say. Our government is THE ENEMY OF THE PEOPLE.

And THE PEOPLE PUT THEM THERE. AGAIN.

Our nation will collapse under its own weight like the Soviet Union did.

[jydavis1]

Geithner, Summers, Bernanke, Volker, Greenspan et al - yes, the jewish financial elite (our real masters) will protect their own at the expense of the American working middle class. enjoy your gentile slavery America, you are being robbed. history is repeating itself.. did I hear "Change" ?

[pensacola98]

This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!

This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!

This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!


This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!

This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!

This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!

This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!

This is it!! Sell your Euros!!! Convert all European Equity Stocks to Domestic Equities!!!

[demdump]

How did the government get so deeply involved in the housing market?

Answer: Bill Clinton wanted it that way.

1992: Republican representative Jim Leach (IA) warned of the danger that Fannie and Freddie were changing from being agencies of the public at large to money machines for the principals and the stockholding few.

1993: Clinton extensively rewrote Fannie Mae and Freddie Mac''s rules turning the quasi-private mortgage-funding firms into semi-nationalized monopolies dispensing cash and loans to large Democratic voting blocks and handing favors, jobs and contributions to political allies. This potent mix led inevitably to corruption and now the collapse of Freddie and Fannie.

1994: Despite warnings, Clinton unveiled his National Home-Ownership Strategy which broadened the CRA in ways congress never intended.

[demdump]

How did the government get so deeply involved in the housing market?

Answer: Bill Clinton wanted it that way.

1992: Republican representative Jim Leach (IA) warned of the danger that Fannie and Freddie were changing from being agencies of the public at large to money machines for the principals and the stockholding few.

1993: Clinton extensively rewrote Fannie Mae and Freddie Mac''s rules turning the quasi-private mortgage-funding firms into semi-nationalized monopolies dispensing cash and loans to large Democratic voting blocks and handing favors, jobs and contributions to political allies. This potent mix led inevitably to corruption and now the collapse of Freddie and Fannie.

1994: Despite warnings, Clinton unveiled his National Home-Ownership Strategy which broadened the CRA in ways congress never intended.


AND THAT WHY OUR HOUSING CRASH AND TAKE THE REPUBLICAN DOWN, TOO BAD.....

[demdump]

1995: Congress, about to change from a Democrat majority to Republican, Clinton orders Robert Rubin''s Treasury Dept to rewrite the rules. Robt. Rubin''s Treasury reworked rules, forcing banks to satisfy quotas for sub-prime and minority loans to get a satisfactory CRA rating. The rating was key to expansion or mergers for banks. Loans began to be made on the basis of race and little else.

1997 - 1999: Clinton, bypassing Republicans, enlisted Andrew Cuomo, then Secretary of Housing and Urban Development, allowing Freddie and Fannie to get into the sub-prime market in a BIG way. Led by Rep. Barney Frank and Sen. Chris Dodd, congress doubled down on the risk by easing capital limits and allowing them to hold just 2.5% of capital to back their investments vs. 10% for banks. Since they could borrow at lower rates than banks their enterprises boomed.

With incentives in place, banks poured billions in loans into poor communities, often ''no doc'', ''no income'', requiring no money down and no verification of income. Worse still was the cronyism: Fannie and Freddie became home to out-of work-politicians, mostly Clinton Democrats. 384 politicians got big campaign donations from Fannie and Freddie. Over $200 million had been spent on lobbying and political activities. During the 1990''s Fannie and Freddie enjoyed a subsidy of as musch as $182 Billion, most of it going to principals and shareholders, not poor borrowers as claimed.

[demdump]

Did it work? Minorities made up 49% of the 12.5 million new homeowners but many of those loans have gone bad and the minority homeownership rates are shrinking fast.

1999: New Treasury Secretary, Lawrence Summers, became alarmed at Fannie and Freddie''s excesses. Congress held hearings the ensuing year but nothing was done because Fannie and Freddie had donated millions to key congressmen and radical groups, ensuring no meaningful changes would take place. ''We manage our political risk with the same intensity that we manage our credit and interest rate risks,'' Fannie CEO Franklin Raines, a former Clinton official and current Barack Obama advisor, bragged to investors in 1999.

2000: Secretary Summers sent Undersecretary Gary Gensler to Congress seeking an end to the ''special status''. Democrats raised a ruckus as did Fannie and Freddie, headed by politically connected CEO''s who knew how to reward and punish. ''We think that the statements evidence a contempt for the nation''s housing and mortgage markets'' Freddie spokesperson Sharon McHale said. It was the last chance during the Clinton era for reform.

2001: Republicans try repeatedly to bring fiscal sanity to Fannie and Freddie but Democrats blocked any attempt at reform; especially Rep. Barney Frank and Sen.Chris Dodd who now run key banking committees and were huge beneficiaries of campaign contributions from the mortgage giants.

[mainedoggie]

"AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team sponsorships, even as they take billions in taxpayer support, ABC News has found."



Thugs! Crooks! Liars! Where''s the outrage!
No more bailout nonsense!

[demdump]

2003: Bush proposes what the NY Times called ''the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago''. Even after discovering a scheme by Fannie and Freddie to overstate earnings by $10.6 billion to boost their bonuses, the Democrats killed reform.

2005: Then Fed chairman Alan Greenspan warns Congress: ''We are placing the total financial system at substantial risk''. Sen. McCain, with two others, sponsored a Fannie/Freddie reform bill and said, ''If congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole''. Sen. Harry Reid accused the GOP ;of trying to ''cripple the ability of Fannie and Freddie to carry out their mission of expanding homeownership'' The bill went nowhere.

2007: By now Fannie and Freddie own or guarantee over HALF of the $12 trillion US mortgage market. The mortgage giants, whose executive suites were top-heavy with former Democratic officials, had been working with Wall St. to repackage the bad loans and sell them to investors. As the housing market fell in ''07, subprime mortgage portfolios suffered major losses. The crisis was on, though it was 15 years in the making.

[demdump]

2008: McCain has repeatedly called for reforming the behemoths, Bush urged reform 17 times. Still the media have repeated Democrats'' talking points about this being a ''Republican'' disaster. A few Republicans are complicit but Fannie and Freddie were created by Democrats, regulated by Democrats, largely run by Democrats and protected by Democrats. That''s why taxpayers are now being asked for $700 billion!!

If you doubt any of this, just click the links below and listen to your lawmakers own words. They are condeming!

[This comes from, among other sources, CSPAN - watch some call that source "illegitimate" just because it''s presented through YOUTUBE:]

http://www.youtube.com/watch?v=_MGT_cSi7...

http://www.youtube.com/watch?v=usvG-s_Ss...

http://www.youtube.com/watch?v=cMnSp4qEX...

http://www.youtube.com/watch?v=1RZVw3no2...
http://www.youtube.com/watch?v=pIgqfM5C8...

Postscript: ACORN is one of the principle beneficiaries of Fannie/ Freddie''s slush funds. They are currently under indictment or investigation in many states. Barack Obama served as their legal counsel, defending their activities for several years.

[cbsblogger]

NEVER FORGET .................that it was the greed of the Wall street people who put us into the debacle that will soon tear down America''s Main Streets.

Yet they''ve (Wall Streeters) received truckloads of unknown amounts of dollars from the Treasury and Fed to make them whole while Mainstreet has received the shaft. That shaft is only beginning to become reality as the dollar will be crashing to nothing as a result. Our government is polluted with Wall St hacks that will sell us out.

Wall Street has never even submitted a plan for their hundreds of billions yet GM, etc. must account for every dime of their measly $25 B (not that I agree with it). Wall Street has done nothing for America except make its elitist bankers, etc very rich.

[lochlan-2009]

To whom do we write, to seek for the arrest of the president-in-chief for treason and the intentional robbing collapsing of the most powerful country in the world? To all of you who supported this man, his administration, and the disgusting things the GOP (and all of Congress) were allowed to get away with these last eight years, YOU ARE ALL TRAITORS, to the people, and the country.

You''re scum, and you know it.

[steamed2]

Forget the money Henry Paulson''s giving away, it''s gone. Forget the fat cats on Wall Street counting your tax dollars, the money is gone, don''t you get that? Stop looking at what happened and ask yourself HOW it happened. Focus on the real problem, the slime infecting Congress. Representatives of both sides took an active hand in dismantling the regulatory laws protecting us, all for PAC money and other incentives to insure tenure ''for life''. Two (2) simple searches on the web will show you which Senator or Congressman''s hands were the dirtiest, just Google info on the Graham-Blilhy Act of 1999 and the Commodity Futures Modernization Act of 2000, then ask yourself who these S.O.B.''s are representing. It''s not you or me. If your really as angry as you sound take a minute to check out- http://www.peak.org/~LW584

[rudy6543]

Postscript: ACORN is one of the principle beneficiaries of Fannie/ Freddie''''s slush funds. They are currently under indictment or investigation in many states. Barack Obama served as their legal counsel, defending their activities for several years.




--------------------------------------------------------------------------------

Posted by Demdump at 07:11 PM

As per YouTube.

[rudy6543]

Posted by Demdump at 07:09 PM

Uh oh..Another victim of Limbaugh/Hannity withdrawal.

[rudy6543]

Wall Street rallies? Must be Obama''s fault.

[incog-nito]

So there you have it, the solution to the stock market slump. Just take money from taxpayer, and give it to Wall Street. Want the Dow to be higher? Give away more tax money. How simple is that?

[cbsblogger]

We need an investigation, we need a trial and we need a major group hanging of these Wall Street criminals who have stolen the USA blind and continue to do so with the help of their many corrupt cronies in government.

We need an independent media that will investigate and not acquiesce to their neocon bed buddies. We need an independent investigator that preferably comes from another country that has no connection to Wall Street crowd.

[steamed2]

Good Grief, forget party politics, it''s meaningless! BOTH parties took an active hand in dismantling the nearly century-old regulatory laws protecting us, for the PAC money and other incentives from paid professional lobbyists that insures tenure ''for life''. Stop looking at what happened and ask yourself how and why it happened. Focus on the real problem, the slime infecting Congress. Google info on the Graham-Blilhy Act of 1999 and the Commodity Futures Modernization Act of 2000, then ask yourself who these S.O.B.''s from both parties are representing. It''s not you or me. If your really as angry as you sound take a minute to check out- http://www.peak.org/~LW584

[lochlan-2009]

FDIC''s reserve is $45.2Billion according to the New York Times, you don''t see that in the news everyday. How much money do people in this country have in the banks if and when they fail (saying only half of the population has a bank account; 150million into 45.2 billion= $301). Don''t worry, it''s cool;).

[likenoone-2009]

it''s not going too work the dollar will devalued
and then you will need a truck load to buy a can of
dog food

[cbsblogger]

cbsblogger wrote "We need an independent media....We need an independent investigator from another country"

I guess that leaves only you, cbsblogger...or some faithful Muslim.

Posted by anon00 at 08:46 PM : Nov 24, 2008

======================================
Yeah the Muslims have this iron grip monopoly control of Wall Street, the Fed Reserve, the US Treasury, the banks, the media industry, etc. . They''ve been raking in all those taxpayer bailout dollars that Bernanke and Paulson are pumping out.

[clovisbuford]

"Canadian style, mentioning Canada you don''''t hear that they have so heck of banking problems like we do, Posted by zokin at 07:43 PM : Nov 24, 2008" err the canadian banks ahve a stronger set of regulatios than the us financial system while the European banks are in as deep of doo doo as the americans banks .. it ahs little do with "socialism" vs "free markets as it does with Canada had a built in system of stringent regulation in its banking system and wealthy corps deliberately weakened ours through bad legislation ... Phil Gramm is setting pretty off his UBS money ..

[chloemontague]

We need to track down those Rothschilds and exile them to a dessert island with flouride laced water, infected virus animals and bomb them with Chemtrails hourly. Give them a taste of their own medicine.
American govt is a joke.... Rothschilds just posted a HUGE PROFIT !!!!!!!!! Why are you all so BLIND?

[txgrouch2007]

OK, when is the mob with the torches and pitchforks going to appear in Washington DC???

The fact that we DON''T have massive protest demonstrations in the capitol - like MANY OTHER COUNTRIES HAVE DONE RECENTLY - shows that the sheeple LIKE this kind of government.

All of us protesting are just spitting into the wind. The people have spoken on Election Day. They WANT this kind of government.

I don''t blame Congress anymore. I blame the voters. Congress is just doing what the voters want.

[chloemontague]

There is something terribly wrong in RICHLAND COUNTY OHIO... THERE IS A HEROIN EPIDEMIC.. FBI need to arrest the dealers and go to Columbus to bust the BIG CHEESE. There is a orchestrated plan to distribute Heroin in Richmond County and other places like this -middle class white america- to get them addicted. Please stop and think about that. We need to bust the big cheese and the source of the Heroin. I am sad to say that our Army are brining it back from Afghanistan.

[txgrouch2007]

We need to track down those Rothschilds and exile them to a dessert island with flouride laced water, infected virus animals and bomb them with Chemtrails hourly.
Posted by ChloeMont at 10:31 PM : Nov 24, 2008

LOL! Oh, you saw the Chemtrails thing, too.

A "dessert" island? An island made of cake and ice cream, with Chemtrails topping and oodles of fluoride to keep the cavities away. Might need some tummy medicine after eating all those sweets.

[txgrouch2007]

There is something terribly wrong in RICHLAND COUNTY OHIO... THERE IS A HEROIN EPIDEMIC..
Posted by ChloeMont at 10:36 PM : Nov 24, 2008

Better be careful. Last time something like that happened in Columbine (it was syphillis there), some kids bombed the school and then shot themselves - which made everybody FORGET THE SYPHILLIS AND THE BOMBS and use it as more anti-gun propaganda...

All it will take is some local going on a shooting spree, and everyone will forget all about the heroin while they go on yet another anti-gun witch hunt.

[txgrouch2007]

Just look what''s happening in Bangkok right now.

Angry mobs of citizens are surrounding the PM''s "temporary office" at the airport after he was forced to flee his main office.

WHY ISN''T THAT HAPPENING HERE IN THE USA????

Because the masses here are brainwashed sheep.

[chloemontague]

The sheeple are zombies... really it is not their fault, as they have been brainwashed.
This is video of a Sheep really believing Obama''s Hype... I guarantee you will be laughing in 30seconds
youtube.com/watch?v=1cbUlW5MMHE

[txgrouch2007]

The USA will collapse under its own weight like the Soviet Union did.

[chloemontague]

The sheeple are zombies... really it is not their fault, as they have been brainwashed.
This is video of a Sheep really believing Obama''s Hype... I guarantee you will be laughing in 30seconds
youtube.com/watch?v=1cbUlW5MMHE

Further proof of brainwashing with Obama''s Hitler Youth
youtube.com/watch?v=WqF19Phn0Og

[chloemontague]

The USA will collapse under its own weight like the Soviet Union did.

Posted by txgrouch2007 at 10:52 PM : Nov 24, 2008
-----------------------

Didn''t you know this is the plan. If you can tolerate it Charlotte Iserbyt puts it best...Speaking At The Zombie Country Conference
youtube.com/watch?v=PYNSXJbdchc

"We cannot expect Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans doses of socialism until they suddenly awake to find out they have Communism.'''' - NIKITA KHRUSHCHEV: Premier of the Soviet Union 1958-1964.

[chloemontague]

The USA will collapse under its own weight like the Soviet Union did.

Posted by txgrouch2007 at 10:52 PM : Nov 24, 2008
-----------------------

Didn''t you know this is the plan. If you can tolerate it Charlotte Iserbyt puts it best...Speaking At The Zombie Country Conference
youtube.com/watch?v=PYNSXJbdchc

"We cannot expect Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans doses of socialism until they suddenly awake to find out they have Communism.'''' - NIKITA KHRUSHCHEV: Premier of the Soviet Union 1958-1964.

[chloemontague]

The USA will collapse under its own weight like the Soviet Union did.

Posted by txgrouch2007 at 10:52 PM : Nov 24, 2008
-----------------------

Didn''t you know this is the plan. If you can tolerate it Charlotte Iserbyt puts it best...Speaking At The Zombie Country Conference
youtube.com/watch?v=PYNSXJbdchc

"We cannot expect Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans doses of socialism until they suddenly awake to find out they have Communism.'''' - NIKITA KHRUSHCHEV: Premier of the Soviet Union 1958-1964.

[chloemontague]

The USA will collapse under its own weight like the Soviet Union did.

Posted by txgrouch2007 at 10:52 PM : Nov 24, 2008
-----------------------

Didn''t you know this is the plan. If you can tolerate it Charlotte Iserbyt puts it best...Speaking At The Zombie Country Conference
youtube.com/watch?v=PYNSXJbdchc

"We cannot expect Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans doses of socialism until they suddenly awake to find out they have Communism.'''' - NIKITA KHRUSHCHEV: Premier of the Soviet Union 1958-1964.

[chloemontague]

The USA will collapse under its own weight like the Soviet Union did.

Posted by txgrouch2007 at 10:52 PM : Nov 24, 2008
-----------------------

Didn''t you know this is the plan. If you can tolerate it Charlotte Iserbyt puts it best...Speaking At The Zombie Country Conference
youtube.com/watch?v=PYNSXJbdchc

"We cannot expect Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans doses of socialism until they suddenly awake to find out they have Communism.'''' - NIKITA KHRUSHCHEV: Premier of the Soviet Union 1958-1964.

[chloemontague]

STOP GM FOOD AND CROPS
The GM genocide: Thousands of Indian farmers are committing suicide after using genetically modified crops.
''When Prince Charles claimed thousands of Indian farmers were killing themselves after using GM crops, he was branded a scaremonger. In fact, as this chilling dispatch reveals, it''s even WORSE than he feared.''

This can happen to USA, Canada, UK, Australia, South Africa, NZ etc ---------------GM SEED USE MUST BE STOPPED.---------------------

Indian Ministry of Agriculture..confirms ..a HUGE HUMANITARIAN CRISIS, more than 1,000 farmers kill themselves each month!!!!!!!!

Prince Charles is setting up a charity, the Bhumi Vardaan Foundation, to help those affected and promote organic Indian crops instead of GM. India''s farmers are also starting to fight back. As well as taking GM seed distributors hostage and staging mass protests, one state government is taking legal action against Monsanto for the exorbitant costs of GM seeds.

PLEASE READ and Tell Friends and Family- http://tinyurl.com/6ehp3z

[chloemontague]

STOP GM FOOD AND CROPS
The GM genocide: Thousands of Indian farmers are committing suicide after using genetically modified crops.
''When Prince Charles claimed thousands of Indian farmers were killing themselves after using GM crops, he was branded a scaremonger. In fact, as this chilling dispatch reveals, it''s even WORSE than he feared.''

This can happen to USA, Canada, UK, Australia, South Africa, NZ etc ---------------GM SEED USE MUST BE STOPPED.---------------------

Indian Ministry of Agriculture..confirms ..a HUGE HUMANITARIAN CRISIS, more than 1,000 farmers kill themselves each month!!!!!!!!

Prince Charles is setting up a charity, the Bhumi Vardaan Foundation, to help those affected and promote organic Indian crops instead of GM. India''s farmers are also starting to fight back. As well as taking GM seed distributors hostage and staging mass protests, one state government is taking legal action against Monsanto for the exorbitant costs of GM seeds.

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