Sunday, September 21, 2008

$700 billion blank check - the rich get away w/ it once again

I don't know the details of it, but I'm sure you guys have heard about the recent crashes of major banks due to irresponsible credit/loan issued to gain more returns for the CEOs when the economy was going well enough to conceal these practices. Now that the banks fall to pieces to reveal the greedy, irresponsible practices that go on, why is it that all the taxpayers in this country have to pay for all the money that a handful of people take, and why is it that these CEO bastards get to keep their riches after these banks declare bankruptcy?

With the way things are going, many of these practices will continue, because the CEOs know they get to keep all the profits and never have to pay for the losses.

Many people say bad economy only affects the financial sector - laypeople like us aren't really involved with what goes on in wall street or the fed. Well, this is exactly why what Bush does or what the fed decides to do affect all of us directly. If you haven't noticed the upgoing prices of commodities, this is another example of why we are all in this together, and practices like this need be to be stopped.

I wish I knew how to influence changes in this regard. If anyone know what we can do to stop this from happening, please let me know!

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