It's been weeks since the controversy, and i'd like to put in my two cents on the whole thing.
All-in-all, it goes like this:
Some idiot CEO's decided to screw over they're banks and spend all the money and generally cause chaos with bad mortgages and loans and whatnot. They lost all their money, and all of their employees money and all of their investors money. In doing all of this the banks fail and people are generally pissed.
Then, the government steps in. They say "Well, you screwed over almost the entire country, or at least a large amount of people, but we're gonna give you hundreds of billions of dollars to fix your banks." Now, let me reiterate this, they gave billions upon billions of dollars to a group of CEO's who were KNOWN to be corrupt.
Then, these CEO's went and spent the money... on things other than fixing their banks, such as parties and other such things.
Now, many people like to blame the CEO's here, and yes, they did screw over their companies and waste away more money than i would ever make in a thousand lifetimes. However, the government gave them all that money to "rebuild" their banks. they GAVE billions of dollars to CORRUPT CEO's and expected them to use it correctly.
Seriously... I mean, Bush wasn't the sharpest tool in the shed... but seriously? congress and the senate both approved it and were ok with it. so... 100 seats in the senate and 400 some in the house... that's over 500 retards!!! C'mon... yes, the CEO's are jackasses, but the government is just as at fault for the second wasting of billions of dollars. I'm sorry, but the government is just as at fault, they gave them the money to waste.
It was really just a bad move by the government, and now they're using it to bring down harsher laws on CEO's and business owners who are good people just trying to make a buck.
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Learn about The Community Redevelopment Act. Read about Barney Frank and Chris Dodd's associations with Fanie May and Freddie Mac. You will have an even lower opinion of our Congress.
Read the article at: http://www.davidwarrenonline.com/index.php?id=993
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