Danny Schechter, author of the new Cosimo book Plunder: Investigating Our Economic Calamity and the Subprime Scandal, has checked in on the proposed $700 billion bailout of Wall Street. And it ain’t pretty.

At NewsDissector, Schechter writes:

Is this what a State of Emergency feels like?

Make no mistake about: we have entered the era of a financial coup d’etat with the Treasury Department releasing a THREE PAGE document and then demanding $700 Billion dollars for a system “rescue” as a start and with unlimited and unchecked power. Welcome to another 9/11 with the Bush Administration in effect pre-empting the options of whoever becomes our next President with a measure likely to cost way over a $ trillion or more….

For months, we have been expecting an October Surprise, perhaps an attack on Iran. Instead what we are getting is a September surprise, and an attack on American taxpayers who are being told they/we will now bail out criminally irresponsible bankers, the folks that Franklin Delano Roosevelt once denounced as “BANKSTERS.”

The only thing missing are troops in the streets and, believe me, as I reported last week, that is coming. Troops are being shipped back from Iraq to be on standby for CIVIL UNREST. (The “authorities” don’t believe that the American people will take the strip mining of their lives without a fight. Surely more crime, and other dislocation is coming!)

More at Global Research.ca, where Schechter explains why “The Bush Administration’s Rescue Plan Will Not Work.”

Read the introduction to Plunder here. (Alert: PDF.)

Plunder is available at Amazon.com and from other online booksellers.