Saturday, August 13, 2011

AP study finds $1.6B of TARP (700 B bailout) went to bailed-out bank execs...surprised?

Its not the fact that bailouts don't work, this is an example of corruption. When there is a failure to follow what was laid out for the financial industry and to knowingly create a loophole for these businesses to get around is down right shameful. For example when a company such as Sachs Goldman makes in excess of 2 billion (that's billion with a B) and were only taxed 1 percent (down from 34.1 percent a year ago) on that because they moved that money to off shore accounts, while at the same time coming to the government begging for billions of dollars in funds, come on what is wrong with this picture! When congress gives the US auto industry hell because they actually need the funds to keep operating it reeks to high heaven of white collar vs blue collar jobs. It also reeks to high heaven that its the US automakers vs foreign automakers as well. In the end though its not really about who you know its about who bl....hey!

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