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Without the bailout, most of us would have continued with our lives as usual. Maybe we would have lost out 401Ks, and needed to "tighten our belts some", but we would be OK. However, the really wealthy would have lost most of their wealth as the majority is invested. They might have actually had to get a job or something. This includes the Bushes. That bailout protected the wealthy elite.
Jan. 5 (Bloomberg) -- As the new owner of $172.5 billion of preferred shares and warrants in 208 U.S. financial institutions, the Treasury Department hasn’t succeeded in thawing frozen credit markets, leaving taxpayers propping up an industry that won’t lend to them.
“If you’re taking money from the public purse, we should get something in return, and we’re really not.”
I would rather have had that trillion dollars returned in tax refunds to those tax payers that paid into the treasury. this does not include all those people who paid NO taxes at all. just the people who actually pay taxes.
the bottom 40% can go pick up their goverment welfare check.
Without the bailout, most of us would have continued with our lives as usual. Maybe we would have lost out 401Ks, and needed to "tighten our belts some", but we would be OK. However, the really wealthy would have lost most of their wealth as the majority is invested. They might have actually had to get a job or something. This includes the Bushes. That bailout protected the wealthy elite.
Yeah, just give it to us, like Obama wants to do in cutting the taxes taken from our checks. There would have been a lot more to go around, or, a lot less to borrow from China.
Without the bailout, most of us would have continued with our lives as usual. Maybe we would have lost out 401Ks, and needed to "tighten our belts some", but we would be OK. However, the really wealthy would have lost most of their wealth as the majority is invested. They might have actually had to get a job or something. This includes the Bushes. That bailout protected the wealthy elite.
I just watched today's CNBC guest host Scott Sperling, THL Partners co-president, and minority whip (R-Virginia) Eric Cantor agree that the it is appropriate for financial institutions to use the TARP funds for strengthening their individual balance sheets, compensation, acquisitions, etc., as opposed to loaning out the money to unlock the frozen credit markets (the intended purpose of the $700 billion dollar bailout).
It is sickening that taxpayer's money is being controlled by legal entities as opposed to being controlled by taxpayers and their elected representatives. This scheme devised by Paulson and Bernanke is the ultimate sham!
Put the money into putting people to work and creating jobs! Employed people with money keep the economy going creating real wealth not creative accountants and speculative money movers.
Jan. 5 (Bloomberg) -- As the new owner of $172.5 billion of preferred shares and warrants in 208 U.S. financial institutions, the Treasury Department hasn’t succeeded in thawing frozen credit markets, leaving taxpayers propping up an industry that won’t lend to them.
“If you’re taking money from the public purse, we should get something in return, and we’re really not.”
Did you REALLY expect Bush/Paulson to do anything to help the common person???
Thank GOD Congress has frozen the second half of the $700 Billion bailout until Obama takes office. It will take his leadership and the new Democratic Congress to force rule changes on the remaining bailout money...
- none of the money to go to bonuses, or acquisitions of other banks
- a good portion of the money to be loaned out by the banks - to get the economy moving
- a certain amount of bad mortgages bought by the Treasury
Not surprising. How do you like that? The two bailouts pushed through by the Democrats, as well as Obama's new investments are going to equal the cost of 5 years of the Iraq War. Nice job.
Can't say I blame him or his party though, in periods of recession the government has to keep spending.. Perhaps that is why Bush was such a spendaholic.
Did you REALLY expect Bush/Paulson to do anything to help the common person???
Thank GOD Congress has frozen the second half of the $700 Billion bailout until Obama takes office. It will take his leadership and the new Democratic Congress to force rule changes on the remaining bailout money...
- none of the money to go to bonuses, or acquisitions of other banks
- a good portion of the money to be loaned out by the banks - to get the economy moving
- a certain amount of bad mortgages bought by the Treasury
Bush has helped greatly the 'military-industrial complex' companies that Eisenhower talked about,and the oil companies, and the last dole was with his buddies Paulsen and Bernanke aimed at the rich bankers - gee, there aint nothin left for us poor 'beggars'.
Hey, dont get poisonal, I was agreeing - I smell like pee too, only those doing the peeing dont.
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