Ok, maybe not “some” but quite a lot of people are actually mad. American International Group, AIG, was falling into debt and they still promised HUGE bonuses which they really didn’t know how they were going to get the money for. Then out of the blue, Uncle Sam said, here’s $170 billion. WOW! Well then the little AIG bank then thought to itself “Well we have MONAY now we can pay the BONAY (bonus)”
But before AIG got our money and paying the bonuses, they promised the bonuses. Promised with contracts. A bank with losing profits PROMISED bonus money. How should we react? Should we react the way they wanted us to, “Oh it’s ok, it’s their money now.” Or the way WE should react, “DAMMIT!”
Under Bush’s administration, the US government spent so much of taxpayer money to bail out the little banks that were in times of need and they just used it the way Bush intended it to be used, without oversight.
I’ve even heard some people blame Obama and his administration for all this. What those people don’t see and ignore to understand is that Bush was the one that passed the little bailout. Those people that blame Obama must be the 17 or so percent of Bush approved people.
This isn’t the fault of Obama or Bush, sadly to say, but I believe it is the fault of this banks and their rich owners. If it weren’t for them, the US would have more taxpayer money and this country wouldn’t be in such a bad recession. I just don’t understand how these people sleep at night and still promise more money to their already high paid employees.
I make $7200 a year, these guys make that in less than a week. Who’s going to win?
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