Whenever someone tries to sell you something and at the same time tells you not to ask any questions… “just buy it you need it”.. it’s pretty likely that you’re going to get screwed.
This is the case with the financial bailout. As we see companies like Merrill Lynch paying early bonuses of nearly $4 billion dollars. My bonus was cut in half this year and we had an decent year. What are these bonuses for? Obviously not for making the company money or they wouldn’t be in such a dire situation needing to sell to Bank of America. It’s obscene. There have been stories of redecorating offices.. Bank of America spent millions on sponsoring the Super Bowl this year.
The trouble in the financial markets has had no affect on the people who have gotten us into this mess. So far over $300 billion dollars have been paid out and as far as I can see there hasn’t been more lending.. there hasn’t been any job creation and people are still losing their homes.
This money would have been better served elsewhere.
As for Bernie Madoff. I think he deserves the death penalty. His scam has put countless lives in financial ruin. He stole from charities and pensions. There are at least two suicides that I know of that he is at the very least indirectly responsible for.
Why this man isn’t in prison is beyond me. It’s picture of American injustice. If you have money..you can stay out of jail. I say we burn him at the stake. If not death penalty.. I think someone who he cheated will have his number.
Serves him right.