December 9th, 2009
It was reported this morning by KTLA television news, Los Angeles Channel 5, that Treasury Secretary Geithner (and/or President Obama) has said that TARP economic stimulus/bail-out funds will remain available to financial institutions until October of 2010. It is interesting to note that while the banks are reluctant to loan monies to the people of the nation, essentially, the people of the nation will lend nearly any amount of money to the banks in the form of low interest loans / bail-out funds. Well, no doubt, the financial sectors of the nation need the money to pay the reported record levels of yearly bonuses to corporate officials for the prosperous year as a result of low interest loans they have been provided to date – while many of the nation’s people search for employment and attempt to keep a roof over their heads.
I would hereby put forth that maybe the stimulus funds would be best given directly to the people. I mean…, if the government were to give the monies directly to the consumers, most consumers would probably spend the money [locally or otherwise] and directly stimulate the economy – not horde the money like the banks. Is this difficult concept to understand? I, for one, am beginning to wonder where is the ‘change’ that the people voted for in the last election? Everything seems much like business as usual in Washington and Wall Street.
AVT
PS. Hopefully any upcoming change will not include any diminishment of the right to freedom of speech which would include the ability to question our government’s actions – as we all are aware that to question the debt could be unconstitutional per Amendment XIV, Section 4, of the U.S. Constitution.
Showing posts with label bail out. Show all posts
Showing posts with label bail out. Show all posts
Wednesday, December 9, 2009
Wednesday, October 15, 2008
JPMorgan Chase Posts ‘Surprise’ Profits??!!??
10/15/2008
It was reported on the news this morning (Today Show, if I recall correctly) that JP Morgan Chase posted ‘surprise’ profits (Third Quarter 2008). And, the US Government just voted to give the banking / investment community how many hundreds of billions of tax-dollars? What’s more, as citizens of the nation, we are / the government is going to buy stock in these banking institutions with our tax dollars to ‘bolster them-up’??? Treasury Secretary Paulson was also on the news this morning [CNN, I believe] stating the intent of the ‘bail-out’ is ‘not for the banks to ‘horde’ the monies.’ To anyone in the banking community, please forgive this next statement, but, isn’t it the nature / business of the banking industry to ‘horde’ assets? One has to wonder the intent of the government and any members of the executive and legislative branches that supported such a ‘bail-out’ while a major banking institution in this business arena is posting profits. To whom does it appear these members of the legislature / government ally? Have no doubt this blogger supports American capitalism. But, I mean…, is this ‘bail-out’ merely a ‘smoke-screen’ to further devalue the dollar or potentially some other hidden agenda?? In this blogger’s opinion, by its actions, it would appear that U.S. Government seeks to further dismantle the ‘middle-class’ into the ‘working-poor.’ Again, in this blogger’s educated opinion, any ‘knowledgeable’ member of government that supported such a ‘bail-out’ would then appear as no ‘friend’ to the ‘middle-class’ peoples of the United States. This blogger may understand the rationale for devaluing the dollar [to some extent]. However, when no monies are available for valid research ideas, no jobs are to be found for the vast numbers of unemployed workers, school systems are in poor condition, the nation’s infrastructure is often in deplorable condition, and yet our Federal government votes to give billions of tax-dollars to the institutions that have the greatest amounts of assets, something is wrong with such an initiative – if not the entire system. Whether JP Morgan Chase will be ‘cashing-in’ on [or is eligible for] low-cost tax-dollars now available to the banking industry, I don’t know. However the point is if they were able to turn a profit, why is the industry getting a ‘bail-out’? This blogger welcomes anyone’s response and comments concerning this blog entry.
Check it our for yourself:
http://investor.shareholder.com/jpmorganchase/press/releasedetail.cfm?ReleaseID=340523
It was reported on the news this morning (Today Show, if I recall correctly) that JP Morgan Chase posted ‘surprise’ profits (Third Quarter 2008). And, the US Government just voted to give the banking / investment community how many hundreds of billions of tax-dollars? What’s more, as citizens of the nation, we are / the government is going to buy stock in these banking institutions with our tax dollars to ‘bolster them-up’??? Treasury Secretary Paulson was also on the news this morning [CNN, I believe] stating the intent of the ‘bail-out’ is ‘not for the banks to ‘horde’ the monies.’ To anyone in the banking community, please forgive this next statement, but, isn’t it the nature / business of the banking industry to ‘horde’ assets? One has to wonder the intent of the government and any members of the executive and legislative branches that supported such a ‘bail-out’ while a major banking institution in this business arena is posting profits. To whom does it appear these members of the legislature / government ally? Have no doubt this blogger supports American capitalism. But, I mean…, is this ‘bail-out’ merely a ‘smoke-screen’ to further devalue the dollar or potentially some other hidden agenda?? In this blogger’s opinion, by its actions, it would appear that U.S. Government seeks to further dismantle the ‘middle-class’ into the ‘working-poor.’ Again, in this blogger’s educated opinion, any ‘knowledgeable’ member of government that supported such a ‘bail-out’ would then appear as no ‘friend’ to the ‘middle-class’ peoples of the United States. This blogger may understand the rationale for devaluing the dollar [to some extent]. However, when no monies are available for valid research ideas, no jobs are to be found for the vast numbers of unemployed workers, school systems are in poor condition, the nation’s infrastructure is often in deplorable condition, and yet our Federal government votes to give billions of tax-dollars to the institutions that have the greatest amounts of assets, something is wrong with such an initiative – if not the entire system. Whether JP Morgan Chase will be ‘cashing-in’ on [or is eligible for] low-cost tax-dollars now available to the banking industry, I don’t know. However the point is if they were able to turn a profit, why is the industry getting a ‘bail-out’? This blogger welcomes anyone’s response and comments concerning this blog entry.
Check it our for yourself:
http://investor.shareholder.com/jpmorganchase/press/releasedetail.cfm?ReleaseID=340523
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