Monday, June 30, 2008

And just one more thing...why isn't it a bigger deal that the FED has chosen to bail out the IBanks? Notice, I did not say the commercial banks. If the I Banks, why not companies? Why not individuals?

I know this is a tiresome question, but it is one that I will continue to ask.

And, with all credit to Ed Wallace on KLIF, when the government bailed out Chrysler with a $2B loan in the early 80's, they made Chrysler sell off their GulfStream Aerospace subsidiary. Has the FED asked ANY I Bank to sell off even one of their aircraft, let alone a whole division, let alone cut their salaries, let alone eliminate their bonuses or sell even one Maserati?

But, you are expected to honor all of your debts...with less disposable income because of the inflation that the FED caused.

I never deny anyone an opportunity to earn more money. I am, however, quite upset about those that not only don't earn their living but lose what you may have given them to invest and yet continue to pay themselves outrageous sums essentially with your money through FED guarantees.

And, just don't listen to anyone that says the FED's money is not your money. When the FED needs more money, after they have used up their $1T balance sheet, they go to, you guessed it, the Treasury for a fill-up. Where does the Treasury get their money? Yep...you.