Comments on: $700 Billion Bailout Is Not For Loans, It’s to Encourage Bank Mergers http://www.breakitdownblog.com/700-billion-bailout-is-not-for-loans-its-to-encourage-bank-mergers/ A technical, gaming and current-events news site Sat, 21 Nov 2009 12:49:06 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Riyad Kalla http://www.breakitdownblog.com/700-billion-bailout-is-not-for-loans-its-to-encourage-bank-mergers/comment-page-1/#comment-11805 Riyad Kalla Sun, 26 Oct 2008 16:02:48 +0000 http://www.breakitdownblog.com/?p=4518#comment-11805 Notice the sales pitch before the bill was passed? "Save the country from economic collapse", "Shore up bad debt", "Buy toxic loans", "Declare martial law", etc. etc. Then we find out the banks were fine, and are putting this money away for acquisitions. I suppose this is what everyone was talking about when Paulson was put in charge, about how he was going to give blank checks to his friends? Well atleast he did what everyone said he would, we all have no power over it and "democracy" means nothing when it comes to money issues. Yay! Notice the sales pitch before the bill was passed? “Save the country from economic collapse”, “Shore up bad debt”, “Buy toxic loans”, “Declare martial law”, etc. etc.

Then we find out the banks were fine, and are putting this money away for acquisitions.

I suppose this is what everyone was talking about when Paulson was put in charge, about how he was going to give blank checks to his friends? Well atleast he did what everyone said he would, we all have no power over it and “democracy” means nothing when it comes to money issues.

Yay!

]]> By: Laurence http://www.breakitdownblog.com/700-billion-bailout-is-not-for-loans-its-to-encourage-bank-mergers/comment-page-1/#comment-11800 Laurence Sun, 26 Oct 2008 07:07:37 +0000 http://www.breakitdownblog.com/?p=4518#comment-11800 And the reason Congress passed the bailout package -- because the banks that were on the brink of failure were so large, and controlled so much capital (and jobs) that it would be an economic disaster if they failed... so what do the banks do with the bailout money -- oh that's right -- THEY BECOME BIGGER BANKS!!! Perfect! And the reason Congress passed the bailout package — because the banks that were on the brink of failure were so large, and controlled so much capital (and jobs) that it would be an economic disaster if they failed… so what do the banks do with the bailout money — oh that’s right — THEY BECOME BIGGER BANKS!!! Perfect!

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