All I have to say today is that I am disgusted.
First it was too much money and now they are adding more pork to it.
300 million Americans.
For the sake of simplicity, let's say 150 million are 18 and over.
Give everyone a Million dollars minus the full amount of their mortgage which gets paid to the bank.
Most people would have a substancial amount to invest, pay for college, save, put under the mattress, open a business, re-inject their small business with inventory/improvements, etc.
Since the banks have now gotten the full payment for the mortgages, they are fine.
Since the homeowners got their house paid for. They are fine.
Those without a house can now afford to buy one cash. Building industry grows. Employment grows, manufacturing grows.
IRS and FBI working to the fullest to imprison and confiscate assets from the top down.
On C-Span yesterday I heard the rep from California explaining something I had not heard before:
All these funds are going to China and The Saudi family. There is no way to find out what is truly worthless and what will be bundled up with things that are viable.
I was viewing this bailout as a huge scam on the American People.
Now, I view it as treason.
Your views will be very different, I am sure, but I am disgusted beyond words.
Obama and McCain and the rest of the Senate dissapointed me greatly. They had a unique opportunity to take care of the people they represent first and not the Wall Street moguls.
Did you know that in addition to the 25 million Golden parachute, the CEO's salaries are over 1 million a month?
That this "cap" on the Golden Parachute does not affect their salaries and in addition, since their compensation bonus would be reduced, there is nothing in this bill that would cap their salaries?
So, if they "only" get 10 million parachutes, there is nothing in this bill to stop their salaries from increasing to 2 or 3 million a month.
How soon can we all get one of these jobs that reward us so hansomely for being major screw ups?
Let's not blame the homeowners shall we? Let's get real. No one would have gotten these mortgages if regulations where in place.
Some people qualified for traditional mortgages but the bonuses where into getting people in the risky mortgages.
I have excellent credit and a low fixed rate mortgage. I can't tell you how many times I have been called by the bank to re-finance, take money out and get an adjustable rate that is 2 points lower than the safe mortgage I had to begin with.
We have common sense. We said no. Thank God.
Wish other people had been able to do that too.