The Bigsibling Blog

With the massive $700 BILLION dollar bailout of the biggest, and wealthiest financial institutions over the last year (this isn’t all Obama’s doing – the bailout began under Bush – BTW), a new report reveals the program has created “anger, cynicism and distrust” in American taxpayers, of both the program AND the government.

The huge problem most taxpayers have is lack of oversight, and lack of knowing what happened to the money. We hear the stories, how Bank of America paid millions and millions of dollars to executives as bonuses who put the company in such financial distress that it required the American taxpayer to bail them out. And that’s the real story here. The federal government didn’t bail these Wall Street tycoons and robber barons out, the American taxpayer did – you and me and our neighbors and “Joe Sixpack”.

If one were to ask the Treasury, who distributed the funds, what did theses banks do with them – they’d get a dumbfounded blank stare as a response. Why? Cause the T doesn’t know WHAT the banks did with the money. Well, we know SOME of what they did. We’ve all heard the stories of lavish parties for corporate officers. Lavish bonuses. Heck, BofA even has a policy that ENCOURAGES their folks to travel on private jets…PRIVATE JETS!!! ON OUR FRAKKING MONEY!!!!

It’s all crap. We, the taxpayer, paid these robber barons for a job poorly done. Do you think they learned their lesson? Heck no, but then, all this plays into the “we need more regulations” ploy, and paves the way for government takeover of the largest banks – just like they took over General Motors – and yes, they did take it over, the US Government now owns 61% of GM – that’s called a majority shareholder folks.

Stumble it!

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