That’s the amount being taken out of each and every individual American’s pocket, counting children, and is being placed into the pockets of Wall Street investment gamblers.
Talk about socialism for the rich.
Can we at least get a thank you?
Here’s economist James Love on what just happened:
By some accounts, U.S. taxpayers will be borrowing more than $3,000 per capita to bail out banks, insurance companies and other investment firms. While the cost of the bailout will fall on U.S. taxpayers, the firms being bailed out are not entirely owned by U.S. shareholders. One feature of the bailout will be a transfer of wealth to foreign investors.
Did he just say “a transfer of wealth to foreign investors?”
Yes, he did.
In other words, there are people who are not even Americans—people from other countries—who will have money put in their pockets—at the expense of our pockets.
Could president Bush and John McCain explain again the benefits of deregulating the banking industry?
This whole scene reminds me of the looting of the Iraqi National Museum and presidential palaces after American occupation.
The administration, asleep at the wheel, allowed people to steal without policing. They had no plan, and just winged it.
And they’ve just done the same thing, and let the same thing happen, in the financial world.
Think about that—and what that means.
Because we don’t have it.
We’re actually borrowing it.
Which means we’ll be paying interest on it—and to the very people that we’re bailing out.
How ironic is that?