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The $700 billion bailout plan is designed to unclog the financial system and the flow of credit. The plan does little to avert foreclosures, the root of the crises, yet the likes of mighty Microsoft, among many others, are urging congress to forge ahead with a quick solution.
Is the bailout really the best answer for the U.S. economy? Or is it akin to a Band-aid on a severed artery? That depends on whom you ask. But one thing is certain, when you move away from corporate America, there is far less support for the banker bailout.
History is unfolding before our eyes. Listening to our nation’s leadership in Congress support the agenda of these Canaanite bankers is unbelievable. Yes, our economy has entered troubled water but we will prevail. The Word of God says that you will reap what you sow and this holds true with both positive and negative consequences.
If you listen to these bankers discuss the root of the problem they say it’s because homeowners deceived the poor bankers into lending them money when the homeowners knew they could not pay them back. Give me a break! This financial breakdown is because of a flawed fractional banking system. Just look at the multiples these banks and financial institutions have been allowed. Now they want to deleverage but no one wants their “junk assets.” So they need to find a buyer, that buyer would be me and you the American taxpayer. These bankers are telling us we are really getting a deal too. They say we will probably even make lots of money if we buy their junk. Folks, no one wants this junk that’s why they are looking to us. We are the only hope for the “lender of last resort.” The FBI launched a fraud investigation against AIG, Lehman, Freddie Mac, Fanny Mae and their former executives. Fraud? Investigation? Now? Why is FBI Director Robert Mueller and his assistant out of the country this week and unable to field any calls from our office here at The Voice magazine?
Another bailout, another few billion dollars.
The House on Wednesday approved a $14 billion bailout plan for U.S automakers after the White House and Democratic leaders finalized a deal empowering a government “car czar” to force the companies into bankruptcy if they don’t restructure by next spring.
Supporters, including administration officials, Democratic congressional leaders and many independent economists, warned that hundreds of thousands of jobs could be lost and hundreds of related businesses damaged or destroyed if one or more of the U.S. automakers failed.
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