Bailing out Wall Street or Main Street?

As a homeless, I was able to see the news about senate’s vote of 74/25 in favor of the Bill. I also saw how the leaders were bragging about their hard work. I heard again about the garbage of the credit freeze and further loss of jobs. So, let us put all of this in perspective.

The topmost claim is that, banks are not giving credit to those who wish to buy homes, cars, and TVs etc. That means those businesses will have reduced income and you know the rest.

The reason that banks are not giving credit is of course bad mortgages that are not making payments. Thus, banks are not receiving the cash they need in order to extend credit. One would think then, the right think to do is to pay a few thousand dollars on behalf of those in foreclosure so the banks get their money and have the confidence for receiving payments for a few more months.

Instead, these idiots are taking the money from those in foreclosure and burying them further in debt. They are giving that money to the banks, so the banks can give credit to some of us who may still have jobs. Basically, they are taking money from us, giving it to them (who ever they are), so they will have the cash to let us borrow and pay them interest on our own money. Thus, they get the money and the interest to come from it. In return, we are allowed to borrow against our own money. If this is not insanity, I must be out of my mind.

The fundamentals of our economy are strong in that there are hundreds of millions of miserable folks like me who will live a painful life making sure a small percentage will have a great life with multiple houses and airplanes in our country, the amusement park for the rich and the connected.

It is so depressing to even write about this topic.