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Posts Tagged ‘wall street’


This video explains how the Fed and the Bankers have rigged the game to screw the taxpayer!

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I’ve heard many people saying that the government should bail out GM because it will save people’s jobs.
I have a hard time swallowing that pill. First off, why is GM different than other companies that have filed bankruptcy in the past? Why didn’t the government bail them out? Second, why should taxpayers pay for GM’s mismanagement. They saw this coming years ago when they failed to turn a profit during the boom years of the mid 90s. If Ford can renegotiate contracts with the union to actually save some jobs, then why can’t GM.
Another question that really bothers me is why AIG is so special that millions of dollars are used to bail them out? They should have made changes long ago but didn’t. Even with the bail out monies they haven’t differed in their line of thinking.
They still hold their meetings and training at the most exclusive resorts. The CEO should have told the top level administrators that there would be no bonuses and if they didn’t like it, find another job. Instead, they paid bonuses to “keep the brightest and the best”. Apparently they aren’t the brightest and the best seeing as they were close to failing and needed government money to stay afloat and then more money. They also lied to Congress about the amount of bonuses paid out. They finally fessed up on the third time.
With all of the money given to banks, it hasn’t helped either. First, they aren’t lending it, they are using it to buy other banks, which does nothing for the economy. Second, 36 banks have already failed in 2009 so how big of an impact is the money making?
In the past I don’t recall the government bailing out companies. The companies would file for bankruptcy and either close or come out stronger on the other side. Are these bailouts part of our march to a socialist government where the government has ownership in everything and tells people what they can and can’t do, what to think and how to live?
Government is too big as it is, we don’t need them meddling in running big corporations. It’s pretty much a given that anything government touches turns to crap.
If government wants to do something helpful, stop the oil and gasoline speculators as they are back at it again driving up the prices. That, I believe, is the real reason we entered a recession, everything else like the banks, housing, etc, are secondary. Consumer spending is 2/3 of the economy. When an average family spends $250 per month on gasoline when it’s $2 per gallon, when it reaches $4 a gallon, your gasoline bill doubles to $500 per month. So now you have $250 less to spend per month than before. That’s quite a bit. People think that a .10 or .20 increase here and there doesn’t matter but if you look at the long term monthly amounts, those increases are quite a bit.
It appears that the government may take a large part of GM shares and Obama and gang are already telling them they have to close up to 14 plants and then open a small car plant. They are already telling us that we should have small cars and get rid of SUV’s. They want the suv plants closed. More government meddling.
Obama promised change but it’s politics as usual in Washington, DC. We need to hold all of the Washington elite accountable. Vote every single one of them out. Just say no to incumbents.

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