I was reading an article on Yahoo! Finance by Rick Newman and I, too, wanted some answers to some questions. After giving banks $350 billion as part of the $700 billion financial bailout, Congress is finally asking the big question that is on the minds of most Americans. "Where did it all go?"
Congress is calling CEOs of the banks and financial institutions to answer that very question. The money was given to them with no stipulations or restrictions. So, we let them use the money any way they wanted to. That's just great. The guys who got us into this mess were also the same guys given government bailout money.
I really suggest that you read this article. It is very good and brings up some excellent points. Here is the link.
As an American taxpayer, I have grown to expect waste by the government and spending money on foolish programs. But, to give money to a bunch of guys who managed to lose billions and then expect them to do the right thing is crazy. You know the old adage. The definition of crazy is doing the exact thing over and over and expecting a different result each time. That's our government.
With another $350 billion just ready to go out the door, we need to be a LOT more careful with it and put some stipulations on this. I'm not for putting a lot of government regulation and bureaucracy in place. I'm a capitalist and very proud of it, but we have to do something to keep the CEOs from spending the money like a bunch of drunken sailors on shoreleave.
Post a Comment