Who is really being Bailed Out by the Feds

Our country is in dire straits for new leadership. Do you understand about the Stock Market catastrophe? Well, the federal government is telling us that they’re working on solutions to prevent a Depression. A bit of healthy skepticism should always be applied to whenever the government gets in a rescue mode. There is usually an underlying reason for doing what they do. Nobody does anything in Washington for the total “good of the people”.

I’ve read recently how the government (our fine tax investment) is bailing out the botched mortgage industry, by buying several of the desperate mortgage investment corporations. This amounts to almost a trillion dollars that Washington does not have. We are essentially borrowing from other foreign powers that our tax dollars will need to pay back. The Bible has a truth that should be applied here: “A slave to the lender a borrower will be.” What is that going to eventually do to our Amercian Liberty when we owe our enemies? My daddy didn’t fight WWII or the Korean War for this. My classmates have not fought Viet Nam for this. My peers have not fought in Irag, Kuwait, or Afghanistan for this.

The Bush Administration’s concept may be a solution to our nation’s economy and the world economy for that matter, but I find this proposal extremely appalling for one ethical reason. While these corporations are being “saved”, the billionaire CEOs that led the greed in these organizations are living fat and large in their multiple mansions in their magnificent Mercedes Benz debauchery.

What is wrong with this picture? Millions are being forced out of their homes and losing their jobs with nowhere to go while these fat cats continue stoking on their Cubans with disconnected indifference. They got their’s. Where’s ours? Why aren’t the Feds bailing out the homeowners who were victimized by greedy market manipulation? Why isn’t the government protecting the hundreds of thousands of jobs being lost by highly-skilled workers? Read the excerpt below and you decide for yourself who is actually benefitting. But, you can bet, it isn’t you or me.

“The government could make a profit, a substantial profit,” said Jaret Seiberg, a financial services analyst at the Stanford Group, a policy research firm. “The pricing mechanism is going to be central.”

The plan will help banks shore up their balance sheets by removing hard-to-value assets. This would address the seemingly endless rounds of writedowns and capital raising that have been rocking the financial sector.”

Read the whole story on CNN:



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September 2008
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