This is all in addition to the 700 billion dollar “rescue” bill which was recently passed by congress. Apparently, they've failed to correct the problems in their business model which have recently brought them to the brink of financial ruin. They've already spent more than 60 billion of the original 85 billion dollar loan. No word yet on whether they have a celebratory outing planned after receiving this loan.
In other news, I reported yesterday that world leaders are nationalizing their banking and lending industries. I'm sorry to report that that trend is not limited to foreign governments. Today, “senior treasury officials,” have been telling the press that the white house is, “considering taking ownership stakes in certain U.S. banks,” in an effort to deal with the current financial crisis. (full story - http://www.msnbc.msn.com/id/27094961/)
This is called “floating a trial balloon.” The white house is letting the word out that their considering buying up the American banking system. Oh, just some banks, and only partial ownership. So now your government will just 'partially' own the lending and banking institutions in this country. If this goes through, you will be saving, borrowing, and spending only with government permission.
The reason they're floating this trial balloon is because there seems to be some disagreement between the people, and the people who think they know better than you do. Even some of the media outlets which are widely considered, fairly or unfairly, to be administration hacks such as FoxNews are publishing editorials condemning the bailout.
“...the bailout obviously wasn’t a quick fix. As we saw again with Monday’s huge stock-market drop, the markets don’t behave the way politicians tell them to behave. Just like voters don’t behave the way politicians tell us to.” (David Asman - http://www.foxbusiness.com/story/markets/expect-revolt-bailout/)There is a widespread and growing disgust on the part of the people with the government's out of control spending and taxation, and while the statists in government think they can continue to steamroll over the objectors by telling us we just don't understand economics, the businessmen in the media know what products their customers want to buy, and right now, disgust with government is selling like hot cakes.
That's right. People are tired of it. There's a growing movement of people awakening to the sham that's perpetrated against them every two years. With access to multiple media outlets and sources of information, more and more people are awakening to the dangers of government. Oops, we didn't get the politicians who can change things elected this time, but two years from now it'll all be different. I can understand them getting away with that for the first 200 years or so, but it's starting to wear thin.
Fool me once, shame on you, fool me 100 times or more, shame on me.