Well we are back cutting interest rates to bail out Wall Street financial
Giants. These are companies who give million dollar bonuses to execs and
workers. Goldman Sachs gave billions in million dollar bonuses last year.
The current crisis was caused by none other than the large financial
institution being part of a lending scheme where speculators bought
expensive homes with no money down and in many cases long term payments
of interest payments only in order to make a quick buck.
Merrill Lynch's CEO decided housing values would not go down and cost the
company Billions of dollars in losses but was given 161 million dollars
to leave. Many of the loan companies who were in the loan markets made
variable rate low cost loans to people who they knew would not be able to
even understand the consequences of variable rate loans. This was a case
of crooks and village idiots sharing the blame.
So what happens, the Republican Wall street boys call their buddy Georgie
for the Federal Reserve to lower interest rates to bail their sorry *****
out and you guessed it, they got it.
Inflation rates are spiraling upward and normally the Federal Reserve
raises interest rates to stop inflation but Bush is only interested in
protecting his wealthy friends and cor****ations.
Why does this matter to you and me, well over the last 6 months grocery
stores have steadily raised prices 15-20 percent. Mush of this is not due
to oil prices, but it is easy for cor****ation to claim it is and get away
with it.
Cor****ations with CEO's making 50 million dollar salaries get cheap money
to subsidize these huge salaries and not 1 job is created or saved.
Retired people end up getting little interest on their savings so big
cor****ations and executive salaries can be subsidized.
Better save your money for the recession the oil prices will create in
the next few months.
This is what the majority voted for so enjoy!
