Thursday, November 6, 2008

Bailed Banks Bungling the $700 Billion

Human nature is what it is, and we are doomed to be so self centered as to completely ignore the bigger picture.

With the massive, $700 billion package approved, monies are flowing out to help the banks in their moment of need.

Yet, instead of using the money to continue to make small business loans, it seems they might be using the money to buy out other smaller banks.  Greed disgusts me and annoys the living crap out of me.

House Judiciary Committee Chairman John Conyers, Jr. (D-Michigan) said:

"It is very troubling to learn that the $700 billion rescue package sold to the American consumer as necessary to continue loans to small businesses and consumers, is apparently being used instead to squeeze smaller banks out of the market;"

Screw the economy, let's go invest in our own plans, just like back when the housing market was screaming right along!!
My head hurts.  Can I take a nap now?

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Hi - sorry for the confirmation but I need to weed out the noise from the well intended comments. Thanks for leaving a note... - Bruce