0x0=0, bailouts, conflicts of interest in US Congress, credit crunch bailout, Cricket Diane C Sparky Phillips, cricketdiane, Economy, land of liberty gone for good, macro-economics, Money, real damage to America done by Paulson Bush Bernanke Pe, rich man to run America into the ground, US Congress, US Congress fails to help American people again, US Congress no longer represents American people, US economic crisis, US Economic policy, US President, US sold out for socialism nationalism dictatorship and, USA, USA capitalism and opportunity gone, what will happen to people in regular Main Street USA
Originally posted on wordpress – cricketdiane – March 29, 2008
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2008 – Written by Cricket Diane C Phillips
Did we really just cover the credit crunch of the overextended banking and finance industries and then they have the audacity to say that if people can’t pay their mortgages they should be out in the street – that not everyone can have a drivers’ license and not everyone deserves to have a house?
But wasn’t it our money that just bailed their asses out from under demands for their resources and assets that these same bankers and financiers couldn’t make good without our money covering it for them?
And, didn’t we cover it for them – and didn’t our President, Congress, Secretaries of Financial and Economic Departments and the Federal Reserve all say – for the banking industries to work with people on these mortgages?
Why would even one more foreclosure continue after those requests were made? Whose side are the financial institutions on? Is it really true that they can do without us as a market base and the businesses they finance – do without us buying their products and services?
We need to take our money back from them – if, it is as the bankers say – “not their problem”. . .
- What happens to the houses, neighborhoods and the infrastructure / property tax base that serves these communities?
- What happens to the small- and medium-sized businesses that used to serve these homeowners and properties?
- What happens to the families – the children that had made friends at their school, etc? And, the scouts, The Y, the gyms, the restaurants, the grocery stores, the churches, etc.?
- What happens to the ability of American businesses including banking companies, when there is no one to buy their products and services? –> it does no good to “flip” a house that can’t be sold. What will happen to all of that?
- What happens to vacation and tourist destinations, to the big trade shows, malls, air travel, hotels, insurance companies, buying cars, trucking companies, shippers, wholesalers, retailers?