Another bailout? This time to Citigroup. What’s a few more billion? Job stimulus packages are much smaller, however.
Tell me why this money can’t be funneled directly to the funds put together by the taxpayer? Like in Arizona, the state retirement fund, county funds and other governmental funds lost money on the Lehman bankruptcy.
So bailout the important funds that belong to the taxpayer, not the lending institutions who sold fraudulent securities to USA retirement, state, county and county funds. Give these funds the bailout money. Give them back the money they lost and don’t funnel it through more brokers. The Feds should take applications based on investor losses, skip the corrupt middlemen, and deal with the American citizens represented by their local governments who lost money. This would infuse money into local economies where job losses are escalating. Let these citizen funds decide investment in local projects with projected returns paying into the funds through existing taxes. We need a long term fix on this problem of exporting our local money to be lent out in Ponzi schemes.
How about more criminal investigations of these scams? We need law and order, not more burglary.
We need simplification. We need our money back. Thieves stole our funds as they sold bogus securities to the fund managers, who took the word of appraisers and raters and bought this garbage. Giving the thieves our tax money to give to the lenders to lend to us again to buy price inflated goods again is not an economic system. It’s a milking machine.