The bank, New Iberia, is in the black, has been all year, posting record profits and is fit and healthy as a horse.
So why are we giving them $90 million? Glad you asked. “They say it is so New Iberia can go out and buy up less profitable banks or banks that are in trouble.“
This is what we signed up for?
We the taxpayers are paying for all the bailouts. So what happens to us? Who bails us out? Shouldn’t we get a piece of the pie that we paid for? What about the Americans, who are struggling to make their mortgage payments. Who will bail them out?
Did we the taxpayers approve these handouts to corporations that are in the situation they are in because of greed? Now we are flat out, openly, subsidizing them to get even more prosperous when they are not even in trouble.
The American people should get to vote on who should be bailed out. Should it be greedy corporate giants or taxpayers? If the people were to be bailed out, then the banks would get their money and the economy would be strong. Bailing out banks isn’t going to do it.
It is time … High time to … Reward responsibility
What do the single people get out of this? A single homeowner who purchased his/her home with a 30-year fixed rate mortgage. Who works full-time and is solely responsible for paying bills. Who doesn’t overspend on credit cards and has excellent credit. A person with no children, who doesn’t qualify for tax breaks for dependents, but still pays taxes for public schools.
What is in this for them?
The value of my home continues to decrease, yet my property taxes and expenses continue to rise. I am paying for mistakes people have made to achieve their “dream.” Paulson is not even close to staying within the parameters of the “original agreement now” and has consistently changed the course of events over and over, it is clear, early on, this is going to be one monumental abysmal failure.
Once again, government run amuck.
Like they say …. “The road to hell is paved with good intentions.” In the end, you have to ask yourself … Is there really going to be anything left by the time Mr.Obama gets sworn in next month?