Tuesday, December 23, 2008

Bailouts beginning to smell

The more I read about the bail-outs, the more steamed I get. We need to do something to halt this madness.

Bankers, who teetered at the brink of failure, have the unmitigated gall to continue to reward top-level management with bonus packages lined by taxpayer dollars. Their greed knows no shame, no limit, no ethic. Take the money and party!

As you know, it gets worse. This week the banks refuse to tell us how they are spending the taxpayer’s money they are rolling in. But they damned sure are not lending it to the people who need to buy a car. Or save their home.

The Congress and the Bush Administration handed out billions and billions of our money without adequate controls, guidelines, regulations, direction…without much thought.


Stop the bail-outs. Wall Street is still standing. Take some time to really think this through.

To continue is criminal. Someone should go to jail.


The South Plainsman said...

The whole government is in a major panic. Much more so than the public.

Bush has violated the Constituion with the automaker bailout, in several ways.

The Treasury has violated it as well, by getting Congress to approve one package, and then using the funds for another purpose.

The Congress as a whole, including both political parties, has sold out to the big money lobby.

The Federal Reserve, a privately owned organization minimally controlled by the Congress, is destroying the value of the dollar in an effort to save its pals in the financial institutions.

I "hope" that Obama really means to "change" this, and will be cheering him on. Indications are, however, that we will get more of the same. Hope not.

If we don't get change, we need to throw all the SOBs out and start all over.

George Phenix said...


I would like to share something you sent earlier because it fits now:

Morgan Stanley, which is receiving $10 billion from the US government, is shelling out almost $6.5 billion in bonuses (more than $138,000 per employee) even though its profits fell 41% and its shares have tumbled by 69%.
Goldman Sachs, which is also getting $10 billion from the bailout plan, is paying out almost $6.9 billion in bonuses. That's more than $200,000 per employee, and despite a 47% drop in its profit and 53% drop in its share price........ Too big to fail & too big to jail.

JohnSBoles said...

Too big to fail may prove to be another Cheney administration lie.

The South Plainsman said...

Put whatever name or face you wish on this.

The real problem is government.

Anonymous said...

Can't we all just get along?? I know I heard that somewhere before.
The problem with the bailout program is that the big boys may get bailed out now but you can bet your bippy that they'll ask for more before long.
I have a daughter- in- law that works for the GM plant here. They offered her $150,000 to resign from her job.How many other $150,000 buyouts will be offered by this 'broke'company. They call it 'early retirement' but she is only 34 years old. She has been working for GM for 7 years.
Sorry ladies and gentlemen,but if we as citizens don't take a stand and do something,I mean REALLY do something, we are doomed to repeat the errors the government and big companies have smilingly committed.

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