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I dunno if it justice or just plain silly. The people getting the the mail and possibly the anthrax is not the people who supposedly "Stole" our money. Whats your thoughts, Justice or silly? |
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deviliscious
Novice Member
Joined: 11/09/07
"Adjusts ponytails and pulls the lollipop out of my mouth" |
10/24/08 7:47:57 AM#2
The Banks did not steal anything. And I know for a fact that the bank receiving the most money from the bailout objected to all of this. The FED forced all of these banks to take the money , they were not given an option at all. See the FED has been calling upon these banks to help them for some time now to help them keep the economy "propted" up it has been failing a while and Banks went above and beyond their jobs by helping the FED. The FED called Bank of America up and asked them to take Merrill Lynch because if it had simply had been allowed to fail it would have been even more detrimental to our economy. So when they took on this company and their debt it hurt BAnk of Americas standing because of the bad debt in Merrill Lynch. The FED had originally called up Bank of America and asked them to take Washington mutual as well.. but they could not afford to take on any more debt or it would be too much , that was why JP morgan chase took them instead. It hurts these banks credit standings to take on these failed companies. When the Bailout came around they wanted to first help open up lines of credit with the banks , because due to the crisis and them taking on these failed companies they would be in danger in the very near future of locking down credit, but the FED did not want them to be put in that position for just trying to help them out by taking on these failed companies, so that was why they gave each of the banks a sum in accordance to the amount of help they had given the FED in trying to stabilize the economy. I know that the CEO of Bank of America did not support being put into this position, but it wasn;t like they stole anything or was even givena choice by the FED not to take it. The FED basically said this is how it is. If we want someone to be angry at, look at the politicians that caused this mess. They made this mess. Both republicans and democrats caused this mess due to deregulation, forcing banks to do subprime loans in the first place and refusal to do anything once they realized there as a problem. This was not caused by "Bush" this was caused by our congress through various administrations, but yes the majority of the blame does fall on our current congress , because they should have done something to stop this sooner. I do not think that sending anthrax to anyone should ever be acceptable, but I sure as hell hope that instead of venting in destructive ways you vent by voting all of those that caused this mess, and all of those who have been trying to cover their asses here out of office. BOOT THEM. There were members of our congress that stood up for the people on both sides of the aisle, and they openly spoke out againstt those that were the cause of this. Look at what Mike Burgess and Marcy Kaptur , we need more people like that running this country, not these people who put on a show for the public then screw us over every chance they get.
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