Financial Bailout: Part II

After infusing three and one half billion ($3,500,000,000.00) dollars into our financial institutions the banks are still broke. And even though broke they continue to pay their executives a salary and those executives continue to live in the lap of luxury.

How entrenched are these executives that no matter how bad their job performance they continue in their position. What does it take for one, just one, of these executives to get fired for mismanagement?

How many of us common folk, as an employee, can take a company to the brink of bankruptcy and not get fired? So many questions and so few answers.

The banks invested in risky schemes and now the risk has come home to roost. The banks, through greed, made a decision to invest in mortgage backed securities. Additionally the banks also invested in futures contracts, namely oil. The invested in oil so heavily that it drove the price of oil up even when the market was saturated with inventory and demand was down.

And now they want you and me to bail them out. Ok fine. But, if we have to give up our hard earned money what are they having to give up? I do not think it is enough for them to give up a club membership. I do not think it is enough for them to give up riding in corporate luxury jets.

These executives know exactly what they are doing. Not in the field of investing but in the world of politics. Each of these financial institutions that are asking for bail out money somehow have millions to pay for lobbyists to lobby for the hand out. Although they can afford to pay millions to lobbyists they have no money to lend to consumers.

So, let me say again, any business that has a lobbyist on the payroll should not be eligible for a government hand out. Any business asking for a government handout should be required to fire its top level executives. Why? Because if the company is on the brink of bankruptcy then the executives are not doing their jobs and need to be replaced.

WHY IN THE NAME OF ALL THAT IS HOLY ARE WE BAILING OUT THESE SCUMBAGS???

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Pancho Villa - a bleeding heart liberal Revolutionary.

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