I hope every one is aware of the Wall Street ‘bail out’ being proposed. Here are some facts that are not widely spread by the media.
1) This bail out is for losses that MAY occur, but have not yet happened.
2) Much of the one point three trillion dollars ($1,300,000,000,000) proposed is to pay back foreign countries, i.e. Saudi Arabia – at least one hundred billion ($100,000,000,000+) that Saudi Arabia invested in Wall Street. Some other countries the tax payers are going to reimburse for investing in Wall Street are: China and Switzerland. I am sure there are other countries this administration wants to reimburse but so far the fact are very sketchy. We do know that this administration is saying they will handle the money and want no strings attached, such as accounting for where the money goes. President Bush stated he will veto any bill passed if there are any conditions.
The one person, Henry Paulson, (Goldman Sachs CEO ) will be the only person in charge and be responsible to no one. Not Congress, not citizens. It is specifically stated by the President that no one will be told where this money goes.
3) This proposed ‘bailout’ will cost every American citizen, and their children and grandchildren over ten thousand ($10,000) per person
4) The companies responsible for this fiasco will not be held responsible, and even though they have given upper management, especially the CEO’s, millions in bonuses while these companies are tanking, there will be no blame placed on anyone.
5) Money for rehabilitation of injured soldiers was not available. Money to help citizens whose homes went into foreclosure was not available. Money for child health care was not available.
Seven Hundred Billion is available to give back to Saudi Arabia, China, Switzerland and other countries. Investing in the stock market is a gamble. Ordinary citizens who lose money are not reimbursed. Why should countries get back money when people do not?
I am telling everyone who reads this, pass on the information to others, and everyone call their Senators and say NO to this out and out plundering of American Citizens.
athena_louise
