Why is George Bush bailing out banks? Who’s gonna bail out ordinary Americans?
The plan announced by President Bush Thursday to freeze interest rates on some subprime mortgage loans will do nothing to stave off foreclosure for the vast majority of families facing the loss of their homes in the coming months.
http://www.wsws.org/articles/2007/dec2007/subp-d07.shtml
Worked out between Treasury Secretary Henry Paulson and major Wall Street banks, mortgage lenders and servicers, and investment funds holding securities backed by subprime loans, the overarching aim of the Bush administration plan is to limit the losses suffered by financial giants from the meltdown of the US housing market and resulting credit crisis.
bush is bailing out the filthy greed-mongers who have made BILLIONS of dollars trading these HIGHLY LUCRATIVE high-interest subprime mortgages between themselves.
Now, because of ENORMOUS JOB LOSS nationwide, many people have simply been unable to pay the exhorbitant interest rates.
How hilarious that while the poor consumer was MAKING those high-interest payments, and the subprime market was making billions for pieces of filth whose whole job is shuffling paper….life is great and “the market works.”
But….
….let the RISK factor kick in (people making high dollars also accept high risk as a proponent of those high dollars) and all of a sudden it’s
SAVE THE BANKS! THE ECONOMY WILL COLLAPSE!! BAIL OUT THE RICH!!
It is DISGUSTING and it is NOT capitalism.
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