@GamTrak 177907 wrote:
Exactly! This money is not going to help those that are at the bottom of the problem!
Take the money to clean of the mess after we see exactly what needs fixing instead of giving the banks more money to piss off. We will see more banks close and jobs lost even after the money is released.
I understand what you are saying about the private sector, but Corporate America needs to step up and offer to pay a percentage of taxes more in line with what you and I do. If no one has any money or can get credit then they will fail anyway.
Warren, Trump and others need to buy up some more stuff and then wait for it to increase in value since they have gotten richer from this mess.
Unfortunately, It’s not a monetary problem, it’s really an honesty an intregrity problem or lack thereof. Hard to fix that.
here’s blog I stumbled upon that predicts the leman bros failure way back in March.
http://www.bloggingstocks.com/2008/03/15/is-lehman-brothers-next/
“The Wall Street banks hold the cash and securities of corporations, hedge funds and other investors. If a Wall Street bank files for bankruptcy, the bankruptcy process freezes those assets so that the customers can’t get access to them. Thanks to bankruptcy law, the courts get to decide which creditors will get their hands on those assets. The reason Bear Stearns failed is that its customers withdrew their funds so they would not be frozen by bankruptcy.”
Remember the “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005” the Republicans pushed through.
http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act