Now it’s one thing to offer a company, who has failed miserably, money to keep the parties happy, but the way that money has been managed is simply ridiculous! If we, the US, own 80% of the AIG company, and AIG has the balls to give over 160 million in bonuses, should we not be concerned? Their rebuttal is that, we need the best people in the industry, well obviously those are not the best people and considering the recession we are currently having, why is it that they need to give these individuals bonuses when the rest of the US economy is at a downfall! This temporary rise in the stock market, all temporary. I myself am waiting for the magic number, will sell off, like many others, and hello the great depression! At the rate we are going, the trust of the US people is lost, primarily our senior citizens who have lost their 401K. I don’t know the solution to this issue, but I know this problem is only growing rapidly!
In regards to banks in general, the fact that we let people buy things on credit, is fine with me, BUT why do we let people pay a credit card off with another?? Typically these individuals will never pay everything off! They are stuck! So what should the US do? We should not permit such actions, AND if someone does want to do this, we should simply say NO! Now credit cards are enticing and yet they are not mentioned on the news in those whole bank issue, they are part of the problem! As for homes, the whole situation is messed up beyond belief. The only solution is to let the people be kicked out of their homes. Sad as a decision that is, it is the only smart decision we can make. Then once people have been kicked out, let the banks fail, no money should be injected into these banks! With so much distress, innovation will bring us out! New banks will start up and will not loan money to people who cannot afford it.
People in this country need to understand that you do not buy something without being able to pay it off, or already having that money in the bank. I always go by this philosophy. If I want to go on vacation, well I have to have the money for it! Most people simply do not share my philosophy and it’s a shame!