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Who are the 700 new billionnaires that have been created by the bailout?

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whistle Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-06-08 11:08 PM
Original message
Who are the 700 new billionnaires that have been created by the bailout?
...We can't let the democrats take their focus off the real danger to our economy.

<snip>
Uses for $700 Billion Bailout Money Ever Shifting
Sunday 26 October 2008

»
by: John Dunbar, The Associated Press


Treasury Secretary Henry Merritt "Hank" Paulson Jr. (Illustration: Paul Giambarba / t r u t h o u t)
Washington - First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.

Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.

But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them.
<MORE>

http://www.truthout.org/102908A

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Mind_your_head Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-06-08 11:16 PM
Response to Original message
1. I can't get too excited about people sloshing about in their new found wealth
when I can't figure out how I'm going to pay my mortgage in January.....and I need new underwear. And tires on my car. And I have college tuition to pay. And my Collegiate needs new underwear too, and groceries, and new contacts/glasses etc.

I am totally stressed. I'm not going to 'make it' very much longer, really I can't. I'm sorry for those who have succumbed before me.....but I'm 'right behind ya'. And there are more of you who are "right behind me"......

Mebbe we should all 'stick together' and support each other as best we can? :shrug:
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whistle Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-06-08 11:35 PM
Response to Reply #1
2. Well, the new found wealth really belongs to the working people
...I'm thinking the new congress should set up a windfall profits tax on these people. I have no love for them and how they got that money
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