What a couple weeks its been for money!
I can't believe how much money has been lost on Wall Street, and how much money has been spent trying to collect those scraps back together.
Right now, everyone is paying close attention to the proposed 700 billion dollar bailout- and just today the House of Representatives thankfully rejected this bill.
Thankfully- yes, thats the word I ought to use.
And heres why.
In just the last 2 weeks, The U.S Treasury and Federal Reserve (prior to this 700 billion dollar deal), has already spent and loaned around 505 BILLION dollars in order to "invigorate" and "repair" Wall Street.
And look where we still are now.
With government regulation on the rise, the economy is still failing, and still members of the U.S government are desperately demanding the House Of Representatives to reconsider their "no" answers voted today.
Listen, I feel for the shareholders, employees, and retirement investments that have been lost with this financial crisis. But when members of my family lost their job to this failing economy, their was no bill pressed to rescue their mediocre pay salaries. (It was more like, so what if you've been with us for 14 years, tough luck.)
Furthermore, to help you better understand who were bailing out- look at Washington Mutuals Alan Fishman; who served on the job for only 18 days.
I'm furious, and all I have to say is that if this bill passes in the next couple days, I'm switching to Monopoly money.
sources: "WaMu CEO Could Bag $13 Million After 18 Days on the Job", www.dailykos.com/storyonly/2008/9/27/113854/014/847/612422
I can't believe how much money has been lost on Wall Street, and how much money has been spent trying to collect those scraps back together.
Right now, everyone is paying close attention to the proposed 700 billion dollar bailout- and just today the House of Representatives thankfully rejected this bill.
Thankfully- yes, thats the word I ought to use.
And heres why.
In just the last 2 weeks, The U.S Treasury and Federal Reserve (prior to this 700 billion dollar deal), has already spent and loaned around 505 BILLION dollars in order to "invigorate" and "repair" Wall Street.
And look where we still are now.
With government regulation on the rise, the economy is still failing, and still members of the U.S government are desperately demanding the House Of Representatives to reconsider their "no" answers voted today.
Listen, I feel for the shareholders, employees, and retirement investments that have been lost with this financial crisis. But when members of my family lost their job to this failing economy, their was no bill pressed to rescue their mediocre pay salaries. (It was more like, so what if you've been with us for 14 years, tough luck.)
Furthermore, to help you better understand who were bailing out- look at Washington Mutuals Alan Fishman; who served on the job for only 18 days.
So next time you believe the economy needs a 700 bill... wait- a 1.2 TRILLION dollar bailout with your hard earned tax money, try and think of poor Alan Fishman- who sadly leaves with a mere 13.65 million dollars."As should be no surprise, he signed a juicy contract: a $7.5 million signing bonus and a lump-sum payment for severance that comes to $6.15 million. In other words, if he leaves the company, he'll walk away with $13.65 million.
That's a pretty good deal in light of the fact that WaMu is the biggest bank collapse ever."
I'm furious, and all I have to say is that if this bill passes in the next couple days, I'm switching to Monopoly money.
sources: "WaMu CEO Could Bag $13 Million After 18 Days on the Job", www.dailykos.com/storyonly/2008/9/27/113854/014/847/612422
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It's kind of like, where does it end? If you bail out with hundreds of billions, what's next? We'll be needing trillions. Good post.
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