10-02-2008, 10:49 AM
quote:
Originally posted by JWFITZ
Yes, Bob, I've read it, and you're right. It will do nothing whatsoever. It doesn't address any of the core issues in the slightest, if anything it makes the whole situation worse by allowing banks to keep hiding from scrutiny the actual value of those "undeclared off balance sheet assets."
And, even sadder is most people have no idea this is not a financial bailout plan, but a cleverly crafted plan to get what otherwise wouldn’t be gotten. So folks, here’s some of what this Financial Crises Bailout/Rescue Plan will provide:
$223 million for Alaskan fishermen.
$10 million to small television and film producers.
$128 million to build NASCAR racing tracks.
$192 million for rum producers in Puerto Rico and Virgin Islands.
$6 million for a company to produce wooden arrows for children.
Oh and let’s not forget the tax breaks to oil companies who are suffering because of declining oil prices.
The financial crisis is not as big as anyone says it is. Yeah there are a few crunches here and there, But, if Congress tells the financial industry go take a hike, bet you they will solve their crises and get on with business. But so long as Uncle Sam is panicking like ordinary people and willing to pull out it’s debit card (taxpayer), why wouldn’t the financials hang on for the possible free money. That’s what they do, make money and they plan on doing in off the government. Think about this, the financials were excellent at creating vast amount of credit where there was none, do people really think they are so stupid not to know how to create a crisis if they want money from taxpayers?