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Potential Costs of Bank Bailout: $80,000/Taxpayer

UserPost

8:44 pm
July 20, 2009


Genghis Tron

Member

posts 4

1

“The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall U.S. economy, a watchdog report said Monday.

Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American.”

See: http://seattletimes.nwsource.c…..sight.html

On top of that, “[m]any of the banks that got federal aid to support increased lending have instead used some of the money to make investments, repay debts or buy other banks, according to a new report from the special inspector general overseeing the government's financial rescue program.”

See: http://seattletimes.nwsource.c…..arp20.html


So… how is it still legal for Banks to require me to pay back student loans?

9:48 pm
July 20, 2009


Genghis Tron

Member

posts 4

2

Mussolini said, “Fascism should more appropriately be called corporatism because it is a merger of state and corporate power.”  Interesting…

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