Kavmerica.com

In case you have not heard it’s been reported that Wall Street companies handed out $18 Billion dollars in bonuses as the US economy crumbled in 2008. Where did that money ultimately come from? The tax payer funded Bailout. The only thing that the Bailout has really shored up is the compensation system for rich executives. The economy is still in shambles, companies are failing left and right but the rich have gotten richer.

Now apparently President Obama has come out to express his disgust for this type of behavior but where is the action? Where is the oversight of these companies receiving tax payer funds? Congress essentially handed them a blank check but you don’t see them taking any responsibility. They are ultimately to blame but we all know that nothing will happen to them. The gave all the responsibility to former Treasury Secretary Henry Paulson. Before becoming Treasury Secretary he was the CEO of Goldman Sachs. Why would put a former Wall Street CEO in charge of handing out funds to Wall Street CEOs?

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In case you don’t already know, the bailout is a joke… on you. Thus far none of the $350 million Congress has released has gone home owners. Although that shouldn’t be a surprise when you consider the man who is running the bailout program, Henry Paulson, worked on Wall Street before coming to Washington. He has made it a priority to make sure his cronies on Wall Street got their fill at the US tax payers expense.

Want some of that bailout money? Too bad you’re not a bank cause the form to request the money is ridiculously simple.  Just two pages that you need to fill out, see for yourself: Bailout Application

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Well Congress has spent the first half of the $700 Billion dollar Wall Street Bailout in just under 80 days.  That’s $350 million in 77 days if you’re really counting.  What have you gotten out of it so far?  Did anyone help you out with your mortgage??  Maybe they helped you out with your bills???  No your tax money was given to poorly run businesses operated by greedy executives earning million dollar bonuses.  Somehow your local members of Congress thought that was fair.  Then again those big corporations donate huge bucks every campaign cycle…  How much did you donate?

Little to nothing has been done lately to stem the tide of foreclosures here in the US.  These financial companies that you hear about are in rough shape because people are defaulting on their mortgages.  Yet nothing has been done to get to the root of the problem.  If you stop foreclosures then a lot of the other problems go away.  The financial companies benefit  because they don’t have to deal with foreclosing on the houses.  They get their money from the homeowners, like it should be.  Instead the bailout has cut the homeowners out of the picture.

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