Tuesday, December 7, 2010
Are you buying this?
Bush tanks the economy, after 8 long years at the presidential helm.
Just before his sorry ass leaves office, he announces we must do a $700 BILLION dollar bailout to prevent a major financial meltdown in 2007-2008.
Hank Paulson from Goldman Sachs would be in charge, but giving him total immunity would be nice.
Many Wall Street high rollers are saved, and exorbitant bonus money continues to flow.
Those who were victims of the subprime mortgage meltdown were left to fend for themselves.
Basically, they gave Bankers & Wall Street the key to the treasury, and corporate welfare.
In real life, if you tank your own business w sloppy & shoddy practices, you either sink or swim. Businesses regroup, tighten their belts, restructure. Or just hit up the Federal Reserve.
Fast forward to December 2010
Recent articles tout the "success" of the TARP program, saying it looks like the Federal Treasury will "only have lost $30 billion" not paid back.
The 2 million unemployed people who lost their benefits this month could have used that money for basic survival.
I don't know about you, but knowing so many people are struggling does not make the corporate welfare give away any easier to take.
But in this upside down new world order... losing $30 billion is GOOD news!
Woo Hoo! Excuse me while I go get some party hats...