I wrote about these bailouts a few posts ago. I don't agree with them. Yes, it save jobs. Yes, it might save the consumer. However, those are not good enough reasons to control a free economy.
So, the bailout saved the jobs of the employees of AIG, but what about the employees of Circuit City, DHL and the thousands of other small to mid sized businesses we don't know about? What about them? Is the government saying these employees are not worth the same value?
Look at what AIG has done with their money...
What a bunch of bullcrap. And this is not anything new. While large financial institutions were laying off people, their top financial executives were spending money building fireplaces in their offices... and this was before the financial crisis. It's been going on for way too long and now the government wants to provide them more money to do the same old crap.
I thought this bailout was to help ease the credit crisis.
A part of the above article states:
"Many analysts have expected Citigroup to strike again, and the bank has said it would likely use a $25 billion investment from the government _ part of the $700 billion financial rescue package passed by Congress last month _ to take advantage of opportunities in the market."But seriously. The RESCUE package was not meant for the financial institutions to go shopping. It was to ease the credit crunch. Citigroup finds nothing wrong to state how it's going to use the money... so why the hell are we bailing them all out??
Now the auto companies? What about the airlines? They are not too far behind.
When is this madness going to stop?
If the bailout was used like this, I would have nothing to say. But it's not.
There was a boom, there were actually 2 booms in the last 15 years, let there now be a recession.
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