Another TRILLION dollars for a stimulus package plus the other $350 billion from the original TARP?Why?
Even Biblicaly speaking, Wall Street should not be given more money.
Proverbs 13:11 "Wealth obtained by fraud dwindles, but one who gathers by labor increases it."
Forget about the bank's losses, what about all those people who lost much of their life savings in their 401k's?
Maybe the banks should have to suffer for their years (or centuries) of greed.
If the working man has his money, the banks will be in business to service it's customers - not steal every fraction of every penny through ridiculous fees and interest penalties.
That's why I say we should focus on the profitable credit unions. If a credit union used restraint and has shown a profit - give them the money and allow them to buy the toxic assets from the old banking firms at whatever price they decide to assets are worth. (Only profitable companies should qualify for the program.)
The money would be local and the one who did the best would be rewarded the most.
Matthew 25: 14-30 "...Therefore take away the talent from him, and give it to the one who has ten talents.... . Throw out the worthless slave, into the outer darkness; in that place there will be weeping and gnashing of teeth."
Hmm... sounds like like an apt punishment.
Let Madoff and his ilk share a cell with "Tiny" and "Cousin Ray Ray" in San Quinten - not some country club type prison in Connecticut. Maybe then they will know how it feels to have done to them what has been done to many of us.
Those old-money families have robbed our country long enough. Let THEM eat cake!
Exodus 22:25 "If you lend money to my people, to the poor among you, you are not to act as a creditor to him; you shall not charge him interest."
I have no problem with a serviceable interest - banks and the rich have bills too. But double-digit rates keep many in debt for life. Many have become modern-day sharecroppers and indentured servants. Those H&R Block Rapid Refund loans should be made to be illegal.
1 Timothy 6 : 9-11 "... For the love of money is a root of all evil..."
We need to cut some of these programs that encourage many to grow ever more dependent upon the government.
If people are taking more than they're giving, they should be cut off from government benefits.
I'm all in favor of a very strong defence - but let's buy the best we can maintain. If a Humvee is a death trap - maybe it's not the best purchase for our guys overseas. Maybe the MRAP should be standard - regardless of prior government contracts and back-door deals.
The states need a lot of money (http://www.cbpp.org/9-8-08sfp.htm). Forty six states and the district of Columbia are projected to have budget shortfalls of $350 billion - $370 billion by the end of fiscal year 2011.
If we get rid of the middleman (the current usurious banking system) and loan the money directly to communities through their profitable credit unions, restore about 25% (an arbitrary number) of each worker's 401k losses, and give the states the amounts of money equal to their projected deficit (plus another one billion each to fix any unexpected need) - we could accomplish twice as much with half the cost. And we will have more control of our ability to repay the loans that are being forced upon us.
As for Pelosi and Reid? Let THEM eat cake too.
1 comment:
I'm in the middle of reading a book about Randomness and probability (I'm a math teacher, what can I say?) that explains how Wall Street brokers really have no idea what they're doing and perform no better (as a whole) than what you would expect of a completely random process . . .
And yet we're going to give them more money. What the f---!??!?
Post a Comment