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Old 01-25-2009, 04:42 AM
39mto39g 39mto39g is offline
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Default Bail out money

A little while ago the Bailout was planed for our banking system. We were going to spend 350 Billion and that money was to buy bad paper that the bank owned and in doing so the Taxpayers would actually gain money as the property value, over time, increased. Something happened to this plan, we just handed the banking industry 350 billion and didn't get anything in return, The Banks, instead of clearing this bad paper from their books decide to give their executive bonuses instead. Now they still have all the bad paper and our money went to give the execs a big fat raise while many of the banks lower employee were getting the pink slip. All with no accountability of how the money was spent.
Now the second bailout and another 350 billion is on the way, Talk is that this money would be used to buy bad paper owned by the banks????????? Are we (taxpayers) that stupid, that we believe anything that our congress people or Bank officials say?
1. Every penny that is given needs to have in writing, what it is to be used for, Exactly and independent proof of it being carried out.
2. Time table for paying money back.
3. Consequences for miss use of our money, spelled out so a 3rd grader could understand.
4. Transparency with the American Taxpayer. Tell people on a regular basis what is being done with our money.
Then and only then should we loan money to a Bank.

Ron
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Old 01-25-2009, 08:29 AM
sn-e3 sn-e3 is offline
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Ron get a safe its not good to have that much money laying around in your spair bedroom. shoot man loose change like that needs locked up or some Bubba will sniff it out and try to take it from you. I agree 100% on your proposal about the bailout. except I would add not one penny for bonus' until the money is payed back in full.
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Old 01-26-2009, 03:57 AM
39mto39g 39mto39g is offline
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Citi Bank got 40 billion for the supposed failed mortgage loans, Take a wild guess what Citi Corp is spending some of the money on. One New Corp Jet, from France, no less. At the very least they could have done when they took American money would be buy an American Jet.
I want my money back.

Ron
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