Financial Crisis

So guess what the final tab is.......you know, $28 Billion to bail out Bear Sterns, $87 Billion for AIG, then another roughly $25 Billion, then the $700 Billion financial bail out package, then this recent $789 Billion "stimulus" package. That adds up to over $1.5 TRILLION and that's just what I've mentioned off the top of my head.

This is big government at its worst. And our grandchildren are going to be paying off the final dollars of the deficit. And don't even think we'll ever pay off the national debt. Not gonna happen.

Worst above all is that I truly don't think this was ever for real, at least not to the degree stated. Look deeply at this. You have the former CEO of Goldmann Sachs (Federal Reserve Member, one of nine to be precise) coming to congress asking them for "bail out" money for his peers in the banking industry. The idea is two-fold: (1) Buy up "toxic" assets and (2) increase lending to unfreeze the "frozen" credit market.

Amazing that we had a "Credit Crisis" and a "Credit Freeze," yet even leading up to the $700 billion bail out vote back in October, and after, I kept getting credit card offers in the mail and my credit is just plain good, not excellent by anyone's standard.

The very next month I got a loan for $1000 so I could get certified as a school teacher. Yet we're being told lending has not increased at all since the bail out. Before the bailout vote I remember hearing hot air head Rush Limbaugh talking about how he just had a large line of credit renewed, and several other callers that day were bragging about loans they'd just been given for their small businesses and what have you. At my job, we continued to offer business credit cards to business customers, even having competitions over who signed up the most people.

How are the aforementioned conditions a "Credit Crisis?" You wanna talk about a credit crisis, just look at the 1930s? A credit crisis is when you can't even get a payday loan cuz capital is so tight. This is no credit crisis.

This is The Powers That Be strengthening the power of the Federal Reserve to control all financial matters in America, while giving their buddies in these institutions like AIG and Merryl Lynch a free pass at paying out bonuses to already disgustingly wealthy executives. Cuz think about it really, why would Citi waste $50 million on a private jet if they don't even in theory have the capital to continue with day-to-day operations? They're not that stupid. They've got shareholders to answer to.

I don't support this, but one way that could cost much less than that of the $700 billion bailout would be to allocate $15,000 to every American over the age of 25. NOT to be used as a check to blow on whatever, but rather to be used ONLY for paying off debt of any kind. Account numbers of debt must be provided. THAT would provide great liquidity to the banks and would create a pay raise for the average consumer.