Tuesday, May 12, 2009

Things That Make You Go WTF!?!?

So, this whole bailout thing only seems to get more comical every day.

Let's outline the chain of events.

1.  Banks screw up and need money from the government.
2.  The federal government taxes you and me and gives the money to the banks.
3.  The banks loan the money to state and city governments because they don't have enough money.
4.  What?

Yes, the banks are using bailout money (tax payer money) to loan to city and state governments.
So instead of the Federal government giving money or loaning money to states and cities, they're giving it to the banks who are profiting off it by loaning it to states and cities.

Ugggghhh.  Please tell me this will stop one day.

http://money.cnn.com/2009/05/12/news/economy/municipal_lending/index.htm?section=money_topstories

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