Varegg wrote:
Nice to see the banks are putting people out of business, i thought the rescue plan was to prevent these things from happening ...
Sorry to hear this, hope you find a solution ...
The money has not worked into the system yet. This plan authorizes money to be spent in larger increments. The previous plan was 250 billion. I can't understand why we would do this without having more accountability FIRST. I read (almost) the entire bill and to be frank I was horrified. It saves the banks if they need it, but that doesn't mean they (the banks) still can't take your collateral/assets. Even though you as a taxpayer paid for their bailout.I don't know about you but I call that robbery. This isn't a welfare state. This isn't unfettered capitalism. This is something that presents itself as something much darker than both. It's a disgrace, and both of our Presidential Candidates supported it.Of the $250 billion, which will come from the $700 billion bailout approved by Congress, half is to be injected into nine big banks, including Citigroup, Bank of America, Wells Fargo, Goldman Sachs and JPMorgan Chase, officials said. The other half is to go to smaller banks and thrifts. The investments will be structured so that the government can benefit from a rebound in the banks’ fortunes.
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