Ah, to be in Banking. The Government has given you Billions. (45 Billion to Citigroup....FORTY FIVE BILLION DOLLARS!!!!) 45 Billion with no strings attached and no rules or even need to tell the American people what you're going to do with the money. The Person who sold Congress on this was a former member of Goldman Sachs. So this is like getting money for your pals. So Citi was on the way to the candy store to buy a 50 Million dollar Dassault Falcon 7X jet (pictured), actually they were going to buy multiple Private jets. The Detroit Automakers got burned at the stake for showing up to Washington in leased Jets. They agreed to not even lease Jets in return for their 14 BILLION dollar bailout. Is anyone outraged at the complete SCAM going on here??? Banks got 300 Billion dollars THREE HUNDRED BILLION DOLLARS and they are still not lending. When they do they get 8 to 36 percent interest. More on the higher side in interest on the backs of the poor with totally BS Credit Card "Adjustments". I have been a huge fan of Obama, and I appreciate that he supposedly personally made the call to Citigroup's Executives to halt their purchase of the private jet, but my questions is, WHAT ELSE are they doing???? If I was Obama, I would force them to lend, and I would force them to forgive some or all the debt and interest they have on Americans and do a one time "wipe the slate". Lets face, many Americans are NEVER going to get out of their debt to banks, and I cant blame it all on them. How can you pay your bills when you don't have a job? The downward spiral has only just begun. Had the Banks used FAIR terms and conditions, they would not have put so many consumers in a hole. Credit Cards and Real Estate was the "Golden Calf" for Banks. Banks like WaMu pushed the envelope of greed. GREED! In a post Reagan deregulated World, the Banks got a license to steal and rip people off ...and they did. I would also force them to make loans at 1% to 2% interest, not 8 to 36% Who says Banks have to make so much money on people??? The average margin in a grocery store is only 1%, why do Bank Margins have to be so high??? If the President is serious about changing the direction of this recession, its going to take SIGNIFICANT kinds of steps to get the Country going in the right direction. I would suggest the President also LOWER TAXES. I applaud the Republicans for fighting for lower taxes. I do not feel that Billions or in this case, Trillions of dollars in Government spending in more Government programs is going to do anything to effect what is going on right now. We don't need new Govt programs, we need regulation in the Banking industry. Banks have had a free pass to rip off consumers. The Banks are still scamming us. Its not rocket science. It doesn't have to "Take a long time to turn this around". America does want action. We want a fair deal. President Obama, go after the Banks and bring some real accountability to this bailout. Make them earn the Billions we gave them, and don't give them a penny more! Stop the wasteful spending going on RIGHT NOW. Do we really need to go into space right now??? Do we have to keep giving BILLIONS to Israel and North Korea???? Wise up! Put America on a real Budget and Stop printing money. Its obvious the Lobbyist, with their control over Congress are still running the Country. Congress is watching out for their contributors and not their constituents.
Its SUCH Bullshit.
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