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Public InquiryInterested in maladministration. Estd. 2005
Human Rights in IrelandPromoting Human Rights in Ireland |
The Bailout and Mood Of US Working Class![]() ![]() ![]() ![]() ![]() Where is my bail out? It is everywhere. The talk of the bail out. And now the talk of the extra $140 billion they bribed the politicians to pass it. Meanwhile tens of millions of American workers are watching their savings, pensions, homes and jobs vanish before their eyes. The anger about the bail out prevented it being passed the first time. There has been a fundamental shift in consciousness in the US working class. It will not go back to having the same trust in the Republicans and the Democrats and the system. However a much greater shift could have taken place if the union leaders instead of trailing with their heads down after the Democrats and the bail out had taken an independent stand. In a recent Wall Street Journal/NBC poll only 10% of Americans say they have a "great deal" or "quite a bit" of confidence in the financial industry compared with 36% in the year 2000. Only 11% say they have a "great deal" or "quite a bit" of confidence in large corporations. As the financial meltdown worsens by the day the social and political base of US capitalism is being undermined. On top of this there are the wars and occupations in the Middle East which are opposed by the majority. The crisis that is deepening by the day means that the US capitalist class has forfeited all right to rule. They and their system have to be replaced. |
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Jump To Comment: 1 2Info from Dvorak's blog:
ABC: Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today. …AIG documents obtained by Waxman’s investigators show the company paid more than $440,000 for the retreat, including nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.
Bail out?
Continues fluctuation of the economy give an indication that people needs support from the government. If the government cannot provide their needs, it's wiser to choose another option to survive. Payday loans I know can help you, people who get payday loans when they need emergency cash have to pay them back – they are accountable for them. Banks that got massive amounts of bailout funds seem to think that the rules don’t apply to them. There are an increasing number of reports and articles about bank executives that refuse to disclose any details on where exactly the bailout money they received from the Federal Government, in other words the American People, was put, or spent. Hundreds of billions of the taxpayer’s money has been spent to keep these companies afloat after the mismanagement of their holdings – there should be a modicum of transparency, and an effort to pay it back. If a person gets themselves a payday loan, they have to – why shouldn’t JP Morgan? Maybe in the future the government should look to companies as a guideline for how to hand out emergency cash.