Tuesday, July 21, 2009

How's are money being used?

I just wonder what is happening with the money that's been given the banks for a bailout. And I'd kind of like to know, what was it being used for before the bailouts.

I understand that a lot of loans were made to people who couldn't afford to maintain the loans, and that probably goes against sound financial principles. But how about all these new bank branches that pop up everywhere. And new banks, for that matter. Did the banks make loans to themselves that they couldn't maintain? I think if a bank was going to make a bad loan, it would probably take just as much risk with its own company.

"You know me! I'm you. I would never cheat you, that would be like cheating myself. I promise you I'll pay myself back. I know our position looks bad right now, but look, in two months I can have all of those bad papers sold, and we'll be solvent again! No one wll ever know the difference! We just use the profits off of these bundles we'll sell and I'll have enough money to make my installment."
Let's look at things another way. How many banks do you know of that are starting out in an old building. How many are renting space? I don't see a single bank that's starting up in my area of town that isn't building itself a new building. How many banks do you see renting out space in an existing strip mall? It seems like they have to tear down a mall to get new tenants now, anyway.
While we're discussing bailouts and our economy, how come the stimulus packages haven't helped rescue our economy. I didn't receive any stimulus money, but I've paid out a couple of thousand dollars each month. Where's that money going? Maybe not to new jobs, but I'll guarantee a chunk of it is going into someone's pocket.

I guess it's time to relinquish bad feelings and let the porkers have their money. Let them blow it on extravagent parties. Let them redecorate their offices to the tune of $20 million dollars. Let them fly to congressional testimonials in their company-funded jets, and let them have their half dozen or more residences (does this mean the can skip out on paying income taxes because they lie about their primary places of residence?) and let them be frivilous with their spending, Because, you know what? If these people can't spend their money, they're just going to keep it right in their pockets. They're not going to give back to their country, they're just going to let it sit in their pockets and gain interest.

1 comment:

  1. I don't often make errors like writing Are for Our, but it looks like I've done it this time!