hope debt relief
How are those “bail outs” working for ya?
Yes, $3.45 trillion has already been spent, as Bailoutsleuth.com details:
* $2T Emergency Fed Loans (the ones the Fed won’t discuss, as detailed here)
* $700B TARP (designed to buy bad debt, the fund is rapidly transforming as we’ll discuss in an upcoming segment)
* $300B Hope Now (the government’s year-old attempt at mortgage workouts)
* $200B Fannie/Freddie
* $140B Tax Breaks for Banks (WaPo has the details)
* $110B: AIG (with it’s new deal this week, the big insurer got $40B of TARP money, plus $110B in other relief)
So since that money did the economy so much good, who wants to shell out another few billion to the auto industry and the credit card industry and the home builders?
Since I don’t need bailing out, so far, so good. But I really don’t want to be subsidizing people who are being paid $80 an hour (wages and benefits), when I don’t make that much, so I am REALLY against the UAW bailout. They aren’t willing to make ANY concessions, and their compensation is unrealistic. Enough is enough.
