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Government bailout - is it a sham?
I just got a $15,000 loan yesterday with no strings attached. I know several others who have done so as well.
Wall Street down 350 points when the Senate PASSED the bail out bill.
The Central Bank of Belgium (in the EU) got a $150 billion bailout and it didn't turn around to loan the money out, it sat on the money to improve it's own financial position. (Meaning, no stimulation of credit took place).
Wells Fargo just bought up Wachovia for .20 on the dollar without requiring any government bailout assistance (where Citigroup would need that assistance).
Does any one else here think this whole thing is, indeed, a scam to help those closest to our Senators in their cozy relationships?
4 Answers
- Anonymous1 decade ago
Yes, it's bogus and will not help our economy, but it sure will help a lot of Congressional folks. Aside; I almost swallowed my tongue last night when Biden actually said that this bail out would allow people not only to get a lower a lower rate of interest, but also lower the principle they owe. "Lower the principle they owe." How are they going to do that unless a big part of this 800 billion is used as a gift to those who otherwise can't remain in a home they can't afford?
- 1 decade ago
Yup and I feel like we, the people, are going to get screwed. The rich just keep getting richer.
- birdieLv 61 decade ago
SCAM! Further consolidation...ie Rupublicans call this "efficiency"
Source(s): Stockholder in WAMU 20 years
