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Bailouts
The bailouts are effecting the American people. Over two thirds of the population are having a hard time paying their bills according to President Bill Clinton. 40% are concerned and 60% are scared according to CNN. The government is basing our economy on borrowing money.
In other words they are promoting the populace to borrow. That means the banks then are our economy. The economy used to be on what people bought, sales of goods.
If people get paid a decent wage, are not taxed for everything they do, have a chance at putting money away for a rainy day they then buy.
There were less poor, more services, more jobs. People are losing their homes. They tell us it is the mortgage companies who let people buy who normally could not afford them. That the mortgage companies sold the loans to the banks. Every bank that I know of looks over every loan inside and out. They do not buy a home loan unless they know for sure it is good. But, the economy has not stopped at just the ones who could not afford their homes. Now the economy is affecting us all. The people who could afford stocks have lost their investments, some their life savings. The middle class or what of it has trouble paying their bills. If banks rule our economy then there was an agreement that this system was okay. It did not just happen.
It would have had to come from the top. The world bankers. The world bankers do not let something like this happen unless they are making more money. We are bailing out banks that have gone under. We are being told that bailing out foreign banks is also on the agenda. The economy has not been helped it got worse out of fear for the borrowing. The people do not believe that the economy is based on borrowing like the government. The government knows this and so do the world bankers. They are there to buy them out. History repeats its self in that all recessions make someone rich. Who is paying for all this? Us. We are making the world bankers richer. They have us right where they want us.
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Bailouts is just "corporate welfare" just like "public assistance" for individuals who receive food, medical, and housing to support minor children, funded by residence state. Contrary to the belief of citizens who are not familiar with the bookkeeping aspects of how these programs are funded ~ it is not 100% CASH! Comment too lenthy see intel "Corporate and Citizen Welfare"
Hi Whitney Studios! Good points made! I agree with JazLive that bailouts are corporate welfare however not same league with public assistance! The corporate bosses have both the intellect & resources to manage responsibly; the poor and or those that get derailed rarely have had the privileges or opportunities to cheat the public at large. YE is Here!
I dropped out of a master accouting degree program, nearly at the end due to illnes. Financial Analysts can manipulate reports to what ever the buyer wants to see. Accounting is a bottom-up process that gets distorted as "original transactions" get messaged via reports submitted upwards to the CEO. Levels of management from supervisors, middle-mgmt, upper mgmt, on to the CEO; pork's numbers for their funding greed. It is not possible to trust funding a bailout, based on a corporate's report. A find-tooth AUDIT is necessary, starting from initial transactions (in ten-year increments backwards) to determine what "the real numbers should be" then compare to current submitted reports as of the date of bailout rescue. During the audit, transactions after bailout date; should be the beginning forward.
CONTRIBUTOR'S REPLY
Great site Whitney Studios, Earmark Watch invites citizens to investigate inserted spending by members of Congress.
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