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Home » Discussion Area » Rant/Rave » BAILOUT WISDOM???
BAILOUT WISDOM??? [message #5260] Fri, 20 February 2009 17:17 Go to previous message
james  is currently offline james
Messages: 2138
Registered: April 2008
Location: Birmingham, AL
Senior Member
Does anyone in charge have any common sense? Here's the latest info on how the bailout money is being wasted. Right before Merrill Lynch was bought by Bank of America, the CEO and top executives gave themselves bonuses of 3.6 BILLION dollars. Over 700 of the top people at Merrill Lynch became millionaires as the company faltered, reporting losses of 15 BILLION dollars in the 4th quarter of '08 alone. Bank of America (the largest bank in America) received 45 BILLION dollars in federal bailout money, of which over 20 BILLION was to help with the Merrill Lynch losses. Bank of America, who's stock was over $40 per share in '08 has fallen to below $4 a share today.
Does this make any sense at all? So this is the plan...they're going to 'fix' the mess America's in by throwing money (money we don't have mind you, borrowed from China and others) at these CORRUPT CEO's and expect them to do 'the right thing' with it.
Yeah right, when pigs fly...


“But God commendeth His love toward us, in that, while we were yet sinners, Christ died for us,”
 
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