Wednesday, October 08, 2008

Bailout - who benefits?

Law enforcement investigators quickly learn that the guilty party can usually be found among those who stand to gain from a murder or other crime.

There is no doubt the bailout will most benefit some of the richest and highest paid individuals in the American economy. - William John Cox
Individuals working for Wall Street finance, insurance and real estate companies and the companies’ political action committees have contributed more than $47 million to the campaigns of Senator Obama (three of top five sources) and Senator McCain (top five sources), both of whom voted for the bailout.
Who Loses?
The ordinary, hard-working voters, who were opposed to the bailout, and their children and grandchildren, will be the ones who will ultimately have to repay, with compound interest, the money that will have to be borrowed to give away to Wall Street bankers.
The bailout raises the debt ceiling to $11.3 trillion, or about $37,524 for each man, woman and child in the United States.
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