Diary

Bailout Smail Out

Another bit of irritating news in regards to our governments wonderful bail out plan. A link to the article is below. In summary the Fed is refusing to release the names of some of the recipients of $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Can you say blank check?!?!?! In my opinion the bailout was a joke to begin with. Note to American banks and businesses…learn to manage your money wisely. If you don’t, you will fail. I still do not understand why my taxpayer money should spent on a business that is in dire straits when many millions of dollars are spent on CEO bonuses. Now we don’t want to tell the taxpayers where their money is being spent???? Afraid we’ll protest the fact that you turned around and gave more money to AIG this morning AFTER you already gave them a package??? This after they top dogs at AIG went on a $400,000 vacation when they received the first installment? Come on Bernake and Paulson…get a grip!

Fed Defies Transparency Aim in Refusal to Disclose

AIG Gets Expanded Bailout, Posts $24.5 Billion Loss