The Fed is only making a bad situation worse

I’m so sick of OUR money being used to bail out private companies. Then we hear “government has no money to add more teachers to public schools” - “we have no money to extend Kid-care program” - “socialized medicine would cost too much” - “subsidized Rx program for elderly is out of question - would cost too much”. And how many billions of our money went (and may be going) to companies who give nothing back to society? (they actually try to screw people of any money whenever they get a chance). How many social services we could have? Services that would make everyone’s life better.

I mean lets face it. Banks and financial institutions tried to screw people up. They gave mortgages to people who could not afford it. They gave loans to people who can barely count and hide the fact that they could not afford it in low ARM’s. They knew that these people will default - they didn’t care because they though “housing market is strong, we will make money anyways. If people default we will re-sale properties for profit - we will make a killing over next 10 years”. But then wars dragged economy down, housing market halted and collapsed and they got stuck with the properties they had to sell for loss. That also led to people defaulting on their cc’s atc. So no thee crooks who wanted to make a killing by ripping public off are losing money (and banks CAN’T LOOSE money - so they try to rip it off more - give more credit so we can cover the loses). But then it all collapses - so now, at the end WE, the taxpayers are stuck with the bill anyways - just shows that mega rich will ALWAYS be rich - they WILL always suck our money out one way or the other.

I’m sorry for venting….

Related Posts:

• 15% of all mortgages currently in default or foreclosure (CNN Money).
• The Fed and U.S. banks would suffer irreparable harm if details of the loan programs were made public, according to the central bank’s senior counsel, Yvonne Mizusawa.
• What does current mess have to do with Obama?
• A truly undefendable and foolish position by the Treasury.
• After christmas the truth will be told that failure of bailouts

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