Quote:
Originally Posted by BigAls87Z28
Take the morgage bail out of 700 billion. We are giving money to banks, and to other companies buying up smaller banks so they can get a hand out!! AIG is chewing through billions and billions, and nothing is done!!
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Yep, and American Express ten days ago filed themselves as a bank now, even though they clearly are not, just so they could get 3.5 billion from the bailout fund. And to top it all off, the markets crashed again last week after Paulson went on tv and said that out of the 700 billion for the bailout, not a single penny is going to what it was intended for. It's just going to get handed out like candy to whoever. Meanwhile, AIG held a get together at some posh resort at a cost of $350,000. Not bad. All our hard earned money lost with BS mortgages and banks structuring them to fail so that they can keep whatever you paid in to date, sell of your house, and write the entire loan plus interest off as bad debt so the government pays them for it. In the end, a $300,000 house will net a profit to the mortgage company of over $1 million. Never mind the over 2 million families that are now homeless over the last year alone for bank foreclosures, or the billions and billions of tax payer dollars used to cover these claimed loaner debts, but then 700 billion is just handed out like acid at Woodstock to whomever the **** has a hand out, meanwhile, the entire economy, job market, auto industry, real estate market, stock market, and every other facet of American life, is sinking like the Titanic. More than 250,000 jobs were lost last month alone, and the projections for the next six months are for more than 300,000 each month. That's 1,800,000 jobs forcasted to be lost by next May, on top of the 1,400,000 that have already been lost in all of this. Meanwhile, these rich fatcat CEOs and CFOs for these failed imploded thieving companies are walking away with money that is just inconceivable. I was ready to head over to the hunting store after watching the former CEO of Lehman sit in front of a Congressional hearing a month ago and was asked just how much money he walked away with when the company went under. To the best of his knowledge, he
thinks it's somewhere around $680,000,000, if I remember the number correctly. Not a bad retirement fund. The big picture problem is that the government, the financial institutions, the investors, the speculators, the business leaders, the company directors, the advisers, and everybody else with a key role in all this are all doing one thing, trying to cash out and take home the biggest prize, regardless of the fact that more money has been taken out of the US markets in the last three months than was lost during the entire depression, more than 40% of our financial infrastructure has been lost, and the big piece of news that I'm not so shocked hasn't been repeated, is that during the meeting with the big 3 in Washington last Monday, political leaders asked Paulson what kind of dollar figure he could put together to offer the auto industry, and his initial response was "nothing". The reason being he said, was that just recently, the White House authorized a loan of somewhere in the ballpark of 1.8 trillion dollars. To who? They asked, and Paulson's response was "as part of the details of the loan, I'm not allowed to disclose any details of where the money went". So, basically, the US Treasury was emptied. Not a bad parting FU gift from this administration. I'm sure you won't hear much about that any time soon.