Despite the apparent confusion of the Press and the Politicians, there is an extremely simple explanation for the mess that was created in the world economy, AND the reason why what our country is doing will not solve the problem.
It was knowingly caused by bankers and brokers, abetted by the Congress.
The solution was to allow the banks and brokerages to declare bankruptcy, and for the investors to lose their investments... across the board.
That was what the law required.
Instead, the political machine, owned by the Banks, Brokers and Big Corporations defied the law, and put the burden of bad debt on the 99% of the population that had no say in the decisions. There is no law that requires a Bail out, but there ARE laws that were designed to protect the public from Government Corruption.
Our Government... broke the written law,... indemnified the people who bribed them to save their (elite) fortunes,... and now twists in the wind, trying to divert the blame.
As of today, instead of nationalizing the banks to protect the public from further damage, your Government went the final step of simply buying the bad debt.
As of last year, 1% of the people owned 50% of the wealth of the United States. I expect that within five years, that same 1% will own as much as 65 to 70% of that wealth.
It's as simple as that. The rest is smoke and mirrors, and no matter whether the people use pitchforks or teabags, this isn't going to change.
Last edited by itstarted; 03/23/09 12:20 PM.
