Sound Off!!!

I almost choked on my PopTart Sunday morning when I heard the Federal Gov was earmarking $700 billion dollars over the next few years to buy "toxic" assets of the large troubled US Banks. WTH!!!..$700 billion, that is about equal to the combined net worth of the 15 Richest people in the world.

I can see why the government is getting involved to protect the economy, but at what expense to the citizens and hard working taxpayers. It seems that the big cats that run these financial institutions have little or no blame when it comes to chaotic problems as the ones plaguing the financial markets and economy right now. If anything they are fired or "forced" to resign, but they don’t leave broken. Most of these individuals are given a nice golden parachute, so they will never be poor or go broke. And all of this is at the expense of us poor folk.

It seems that the government will promise money to any large Fortune 500 company, even if they dont have it. I can understand why the governement is trying to help soften the blow that the credit crunch is causing and to avoid "toxic" or troubled assets from flooding the markets. Their help...at what cost? Look at the national debt. As of September 2008, the government’s debt was a staggering $9.7 trillion. TRILLION...Not billion or Million. This figures out to be about $32,000 per capita. So while the government is underfunding SS, Medicare/Medicaid and other important programs, they have no problem handing out $700B to banks and financial intuitions who have been poorly managed. Maybe the government needs to pass laws that protect things like this happening again. I doubt it.

I am finished ranting...I will step off my soap box. God Bless America....Go Cowboys!!!