3 comments on “More to the Bailouts

  1. Hey Dre,
    Great post! It’s amazing what your average american doesn’t know about where their money is going (maybe because so many of us don’t pay federal taxes). For instance, how many people know that we just recently went over 100% of our Debt/GDP ratio? Take a look at the Debt/GDP ratio of the other countries nearly in default. While it bothers me that our government is shoring up foreign banks, it bothers me less than the stimulus money we threw in every direction that has a zero chance of ever coming back, but some may disagree. The TARP funds that have been doled out have mostly been paid back. Here’s a good question: when the money is paid back from the TARP funds, where does the Obama administration put it? The best answer I’ve gotten is during an interview with Timothy Geithner, the Secretary of Treasury, where a member of the press (a miracle!) actually questioned him on that point. His response? “I assume it goes to pay off the debt.” “Assume???” If the SOT doesn’t know…who does? BTW, since most of the TARP funds were paid after Bush left office, do you know which administration approved this?

  2. In my opinion, the banks [ those run poorly] should have been allowed to fail. The government propped up losers, didn’t allow them to be punished as harshly as they should have been. I agree with those who say there is too much greed, unfotunately that greed has been extended to all levels of society. The blame goes to us all. If people were educated in the real world we would never have gotten to this nexus, but too many for too long have decided that the problem is some one or some thing other than themselves. Don’t like someone getting overpaid, stop supporting that enterprise. Put your pocketbook where your mind is and stop blaming others.

    • Well said Kelli,
      Until the attitude of, “Myself and my needs before country or common good” changes, I don’t see a solution to our problems. Poor people seem to believe they are less at fault
      because of their needs, but the dogma is the same…more for me at the expense of others.

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