Thursday, April 16, 2009

Who benefited from the bailout?

So, we had this billion dollar bailout for financial institutions that got in trouble after the financial markets had been deregulated.

Some people who worked for those bailed out companies have made MILLIONS of dollars from their work over the last couple years.

Their work has destroyed the Global Financial System, resulting in a Stock Market crash, the devaluation of the U.S. dollar, and a change in our status as a global leader and power.

Also, the American taxpayer is now on the hook for money they never had anything to do with.

Doesn't seem fair to me.

Who benefited?

Why have they been allowed to benefit? If there is truly an open and free economy, then those companies that haven't done well for themselves should be allowed to go out of business. Not be rescued by the American taxpayer.

I certainly didn't benefit from the wild currency and debt speculation... but somebody has... and that simply is not fair to the rest of the country.

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