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An American Citizen
An excellent article, the first of two parts is in the Seattle Post Intelligencer, for friday, October 10, 2008.
Bud 28
Detroit is asking for 3 tenths of 1% of what has been committed to the bailout. Detroit should get theirs in a nanosecond.​.DTL
The big companies couldn't pay their bills, maybe because a lot of clients couldn't pay THEIR bills, but the big companies DID waste an awful lot, too.A lot of defaulted mortgages got paid off (..delivering the expected profits to the mortgage companies), auto co.'s received cash reserves to pay their ongoing bills(..which are still ongoing), and banks were given cash so that they could still lend money (..without having to lend their own).But whose money was it that got handed out???It couldn't have been tax monies, ..because that account has been overdrawn for years!Were profit-promising bonds sold to people who DO have money, to get that money to Congress, so that Congress could turn around and give it to those big companies who can't pay their bills anymore?Or did Congress just ask the Mint to print up several trillion new dollar bills? ..and then just hand those out to the companies?Doesn't that weaken the dollar? ..dilute its value? ..reducing everyone's bank account?