Take a ride on the Wall Street Rollercoaster!

First of all, I HATE rollercoasters, I have vertigo and don’t like that feeling of losing my stomach and the fear of hurling off into space.  And that is exactly how Wall Street is making me feel lately, and I don’t like it.  So here’s what I want to know….

Where’s MY bailout??????  Remember back in 2008 when the Treasury’s TARP bill gave $500 BILLION to the banks to bail them out?  Well, that doesn’t count all the money the FED gave to banks and big companies in “loans”.  Do a little digging and you will find that it all added up to $1.2 TRILLION.  Yes, TRILLION.   The total amount lent to the private banking sector by the federal government was  about the same as the current amount of 6.5 million delinquent or foreclosed mortgages.  However, those borrowers haven’t gotten any meaningful government help.  The banks were covered, and then turned around and screwed their customers and forced them out of their homes.

I remember thinking way back in 2008, why don’t they just give all U.S. taxpayers $1 million each, and we could all pay back our own loans and perhaps have a little something left for retirement.  The bank would get paid, the auto companies would get paid, the charge cards would get paid…..everybody would be a winner.  But no.  Too easy, I guess.  The government would never trust the American people to bail themselves out, just like they don’t trust us to save for our own retirement.  Yeah, that social security is really gonna help us.

Retirees have lost a huge portion of their nest egg, and nobody is helping them, it’s all THEIR fault.  The middle class gets nothing except a shrinking paycheck or unemployment.  The rich are protected by the Republicans.  And the Democrats are lame ducks.  Which means they are sitting ducks, with Republicans taking pot shots at them in a barrel.  I have lost ALL faith and ALL respect for our government.  We the people, blah blah blah.  Nobody is a winner here, whether you are a Democrat or a Republican.  Let’s all blame one or the other.  That will do us a lot of good.

Ok, I’m stepping down from my soapbox now.     

 

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2 thoughts on “Take a ride on the Wall Street Rollercoaster!

  1. Hey Jan! Have you ever read Atlas Shrugged? You and I share the exact same feelings about government and this book is great. It’s all about limited government and personal achievement: people getting what they’ve EARNED (not something we’ve seen a lot these days)! It’s a super long read but it’s written as a non-fiction story so once you get into it, it goes pretty quick!

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