Lots of anger….lots of shouting….lots of frustration….lots of cash……lots of everything but justice….by justice I mean the justice where the people that paid the bail out tab got something in return….they got NOTHING….the taxpayer got fleeced!
Let us look back for a moment…..a moment provided by Andre Damon and Barry Grey of wsws.org:
It is worth recalling the justifications that were given at the time for the passage of TARP. Then-President George W. Bush went on national television after the collapse of Lehman Brothers in the fall of 2008 and declared that Wall Street had to be bailed out in order to rescue Main Street. The alternative, he said, was mass unemployment and the worst recession since the 1930s. The taxpayers had to bail out the banks, he insisted, in order to allow them to offload their bad assets so they could begin lending again to consumers and businesses.
These claims were lies. The banks have used their government handouts to boost their profits and further enrich their executives, big shareholders and creditors. They have refused to expand their loans to small businesses and consumers, contributing to the worst jobs crisis since the Great Depression. They have refused to sell off or write down their bad assets, confident that, in the end, the government will make sure that they are able to palm them off at top dollar, or, in extremis, bail them out again.
A good portion of the banks’ revived profits have come from the systematic and open gouging of the public. They have jacked up interest rates and fees on credit cards, imposed higher fees on checking account overdrafts, and gamed the foreclosure crisis in order to profit from the tragedy of families driven into homelessness and destitution.
The American taxpayer has gotten the shaft yet again….they voted for change and they got the same screwing they always get…….no lube….no kiss….no cash……nothing has changed….see what corporate cash can buy? It buys lots of politicians, even though taxpayer’s money pays them to do a job for the whole country…..they disregard that pledge and work for the captains of industry….the same people that caused all the economic problems……
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