Saturday, December 13, 2008

The bail outs

were a great success!!!! Thus far about 350 billion have been spent. This, so far, has allowed banks to:
1. Continue to pay dividends.
2. Buy other banks.
3. Pay outrageous bonuses.

This is exactly why we should not have given bail outs to anyone!!! It has served no useful purpose.

Troubled Asset R(something) Program. T.A.R.P. that is the name of the program that was given 700 billion dollars to buy troubled assets up. Then it was decided that they would not use it to buy troubled assets. Then they decided that they would buy troubled assets. Was there ever a plan??? No there wasn't. That is obvious now. 700 billion is easy to give away, but the big thress wants 15-30 billion, well they better have a specific, detailed and workable plan ahead of time!!!! Ofcourse now suppliers and dealers are looking for a bailout now. Another reason why no one should have been given one. It is really quite disgusting what the government is doing now. The real kicker is that, in the end it won't make any difference!!!!

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