Posted on 03/13/2009 7:43:34 PM PDT by TheDailyChange
Americans, remember how you gave $700 billion to bailout our nations failing banks, you probably thought that your money would then be used in the United States to get our economy rolling again, after all, we are in the midst of an economic crisis, right?
Think again.
Citigroup took at least $45 billion of your bailout money and then made an $8 billion dollar loan to the government of Dubai. Bank of America got $45 billion of your money and made a $7 billion investment in China Construction Bank. JPMorgan Chase Bank received $25 billion of your money and made a $1 billion dollar investment in India.
Should have had a restriction on that... ughhh...
...all the while charging you 27.99 percent on your credit card, running the Government into the ground, and inflating the dollar into oblivion.
The more I hear of Chase’s corporate level activities the more I think I might just yank my finances and move somewhere more credible, like the little credit union near the house.
1st off: Banks should not be getting Federal Funds.
2ndly: Are the banks making their required loan payments back to the Feds on time, with interest?
3rdly: What is the projected rate of return on the investment?
Lastly: Who is better qualified to invest money money for profit? Bwarney or a Banking Institution?
Exactly on #5, the bottom line is, those banks have to invest money to make a profit to return the capital they have been gifted at our expense.
I do not care if they invest in a shoe factory in Kenya, give us our money back...now.
And that’s not including AIG and others.
From the Sino-Russian Joint Statement of April 23, 1997:
"The two sides [China and Russia] shall, in the spirit of partnership, strive to promote the multipolarization of the world and the establishment of a new international order."
http://www.atimes.com/atimes/Central_Asia/HI29Ag01.html
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Russia, China flex muscles in joint war games
Reuters: Aug 17, 2007
CHEBARKUL, Russia (Reuters) - Russia and China staged their biggest joint exercises on Friday but denied this show of military prowess could lead to the formation of a counterweight to NATO.
"Today's exercises are another step towards strengthening the relations between our countries, a step towards strengthening international peace and security, and first and foremost, the security of our peoples," Putin said.
Fighter jets swooped overhead, commandos jumped from helicopters on to rooftops and the boom of artillery shells shook the firing range in Russia's Ural mountains as two of the largest armies in the world were put through their paces.
The exercises take place against a backdrop of mounting rivalry between the West, and Russia and China for influence over Central Asia, a strategic region that has huge oil, gas and mineral resources.
Russia's growing assertiveness is also causing jitters in the West. Putin announced at the firing range that Russia was resuming Soviet-era sorties by its strategic bomber aircraft near NATO airspace.
http://in.reuters.com/article/worldNews/idINIndia-29030120070817?pageNumber=1&virtualBrandChannel=0
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From National Public Radio (NPR):
August 29, 2006
"Venezuelan President Hugo Chavez has been visiting countries such as China, Iran and Russia as part of an effort to build a 'strategic alliance' of interests not beholden to the United States. He considers the United States his arch enemy.":
http://www.npr.org/templates/story/story.php?storyId=5729764
Yeah, they’re making profitable loans to customers who can pay them back! Before you know it, they’ll be enough money to back the government with interest.
The banks are world wide. They lend money to make money, regardless of where the lender is. The borrower may use the funds here, or not. The bottom line is for the lending institution to receive interest.
Our government is borrowing from other countries. Should those countries not lend to us?
I understand the angst, but the animosity should be directed to those that got us into this financial mess (the same ones that are now ‘lending’ out our money).
I agree that those that receive funds should be REALLY tightening their fiscal belts though.
I’m sorry. Are these banks supposed to continue lending money to Americans that can’t repay it? Or are they supposed to do what lending institutions do and lend it out to folks that pay it back WITH interest.?
just askin’
mrs
Broadcast the new acronym:
O ne
B ig
A ss
M istake
A merica!
I may have run with the heard and supported the Bush bail out at the time it was advanced. Now I realize it was a mistake. All subsequent bail outs have been a mistake.
There are many problems with these bail-outs, not the least of which is that they do not work. Also, there is confusion. When we give money to a firm or a person, it is their money. That’s what it means to give. They can do with it as they please. If the government wants them to take a specific action, especially one that is contrary to their interests, the government should prepare a contract.
The banks would probably like a contract also. Their story is that the government told them to buy failed institutions (wink-wink, nod-nod) with the public cover story that the banks would use the money to make loans. The banks followed the directions they were given in private. They bought failed institutions to consolidate the industry (operation Darwin). Then the government publicly slammed the banks for not using the money to make loans. This is a double-dealing administration that can’t even be trusted when they cheat.
Why not, we gave them money and they can’t pay? It seems to me taxpayer money should not be going overseas for any reason...especially to the middle east where it may very well be spent on equipping terrorists.
We should pull our money out of the banks. I now have my money in a credit union-safer. The FDIC is almost insolvent at this point. Maybe this would teach the banks to care about their American customers.
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