If an arsonist burns down your house, you wouldn’t hire him to rebuild it. It seems to me the Treasury Secretary (who was supposed to be overseeing the economy), and the big banks, along with Freddie, Fannie and investment banks burned down the economy, and our home values & savings in the process.

Why are the same people allowed the task of rebuilding the economy? Why weren’t they fired? Why would anyone take financial advice from them?

In some other cultures, those in charge might have resigned in disgrace. In ours, those in charge “parachute” out with millions in severance pay or, at minimum, they get to keep their ill-gotten gains, again in the tens of millions.

There is something wrong with this picture and I think the picture is framed in greed and fraud……………………… Give US A Break!

$800 Billion For Executive Spa Treatments!

Congress gave AIG and other big companies taxpayer money for bailouts. Executives are bailing out with Golden Parachutes and weeklong retreats with spa treatments. Congress had other options and chose badly to bail out large companies, instead of bailing out individuals, so that they could stay in their homes.

There were other options like suspending income tax on interest on bank savings accounts. That would have brought money into the banks, that they could use to make loans. A win-win for us instead of the million dollar executives.

Is anyone else angry about this or am I losing it?

Congress - Give Us A Break!

$800+ Billion!!

Well, it passed and the pres signed it. My IRA still lost several thousand yesterday. So much for confidence in the market or in the FED to get us out of the mess.

NO! to $850 Billion

OK... it was a bad bill at $700 Billion, so the Senate did the only thing that could make it "better" and made it $850 Billion, with tax breaks for companies that make wooden arrows for children and for companies to study wool, among others.

This is outrageous pork. The Senate has certainly found a way to put lipstick on a pig! House should reject it.

$700 Billion Not Enough!

$700 Billion was a bad bill that did not pass, so the Senate did the only "logical" thing their brains could conceive and they added 108 billion on top of it!!! GiveUsABreak!

Instead of taking some of that $700 Billion and reworking it so the little guy gets some of it, the only path these elected folks in the Senate could discover was to add more debt on top of the already over the top numbers.

The Congress needs to use the tools that they already have. For example...

The basic problem is that the banks do not have cash to spread around. A very simple solution would be to repeal the income tax on the interest earned from bank savings accounts. That would make them attractive, people would start saving and putting money into banks and the banks would have the money to lend.

Sometimes the simplest solution is the best one. But all our elected officials can conceive is a mounting debt that will haunt our children and grandchildren for decades to come.

GiveUsABreak!