|How About Bailing Out the Rest of Us?|
|Written by Kate Delaney|
|Sunday, 21 September 2008 20:14|
Did you hear the collective sigh across America when the news hit that AIG was being bailed out by Uncle Sam to the tune of 85 billion dollars? I can't tell you how many people complained to me this week about not getting a helping hand with their financial blues. Gordon Gecko's line about greed being good in the movie Wall Street couldn't be more accurate these days. It gets worse folks as congress is getting ready to vote this week on a plan to create a $700 billion dollar fund to buy toxic assets from banks. At first blush at least you won't have to worry about the savings you've managed to whittle away while it sits in the bank earning meager interest.
Where are we getting all this money? Treasury Secretary Henry Paulson says the passage of the legislation is essential to avoid a tailspin in the world financial markets. Here's what he said on ABC's This Week.."I don't like the fact that we have to do this. I hate the fact that we have to do this but it is better than the alternative." Give me a break! Paulson should be fired for being part of idiot parade.
So let me get this straight all the fat cats at Merrill Lynch, AIG, Lehman Brothers and the rest of million dollar boys club get big bucks to stick around. If you screwed up royally on your job how long do you think you would last? Those shown the door walk away with more money than most people can even imagine.
My mother told me when I was a kid that life isn't fair but this is ridiculous!
|Last Updated ( Friday, 26 September 2008 16:32 )|