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Monday, December 29, 2008

NO MORE BAIL OUTS

I have one word to describe the government's bail outs "UNBELIEVABLE!"
It's really pathetic because they seem to ask for more and more of our tax paying dollars for the bail outs, and get them, even if we protest and say no to the bail outs. I dare to ask boldly, "WHOSE MONEY IS IT ( the tax payer of course), AND WHY CAN'T WE THE PEOPLE VOTE ON THE BAIL OUTS?" Yes, I do understand that the house and congress are suppose to be there to represent the people, but most of us spoke out against the bail out, and they ended up passing it anyways.
I don't know about you, but I am against bailing out wall street, which are basically the banks who started this collapse in the first place. If you take a few moments to think about that fact, you will begin to realize that the wall street (bank) bail out won't help home owners in the least because the loans that were given to them have been going into foreclosure because the interest rate adjusted higher, and therefore, caused their mortgage payments to almost double, and those loans had been packaged up and then sold to investors in the U.S. and over seas.
No, the 700 billion dollar tax payer bail out was not intended to save any of the home owners who were certain to go into foreclosure in the near future, it was intended to enable banks to buy out the banks which had their hands in the subprime loan mess , and to also pay investors back the losses that they endured when the bundled mortgage loans were losing their value. And also the investors who are over seas who bought up the bad loans needed to be reimbursed. There are also some people out there saying that China even got some of the money. China has been financing the Iraq war because the U.S. needed to borrow from them. I am sure that you will agree that these bail outs are a bad thing in the long run, because the economy is still getting worse, even with 350 billion of the 700 billion dollars already spent, and now they are asking to spend the rest of the bail out money on something else that won't help our tanking economy.
So, now that you are more aware of where your hard earned money went, ( because of the bail out) , after taking the time to read this blog, I am hoping that it will bring you closer to demanding restitution, and to also demand that they shouldn't allow the other 350 billion dollars to get into Paulson's greedy hands, so that he could abuse it again by greasing his wall street buddys hands yet again.
There is another thing that I am hoping, it's that we the people will join together, after we get up off of our arses, and demand the truth from these people who are supposedly working for us in the first place.
Please take the time to view this video. I found it to be interesting.


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