Wednesday, 08 July 2009
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Banking Bailout Trivia
Some documented facts regarding the banking bailout you may not be aware of:
- According to a Los Angeles Times/Bloomberg poll, only 31% of Americans supported the bailout.
- How was the amount of $700 Billion determined? "It's not based on any particular data point," a Treasury spokeswoman told Forbes.com. "We just wanted to choose a really large number."
- Citigroup of NY, the largest bank in the world (by revenues in 2008), received $20 Billion + from US taxpayer bailout money.
- It was recently documented that $500M of this Citigroup money is going overseas to Saudi billionaire Maan al-Sanea Saudi and his businesses.
The following banking videos have a rare five out of five rating by Google viewers:
http://video.google.com/videosearch?q=%22monopoly+men%22 - Monopoly Men (47 minutes) http://video.google.com/videosearch?q=moneymasters - Money Masters (209 minutes)
According to the Bible, if a woman is being raped and yet remains silent and doesn't cry out, then she actually shares in the guilt. But if it happens in a deserted area and she cries out, but there is no one to help, then she is truly a victim. (Deut. 22:25-28)
Is my metaphor too extreme? Look into the history of the US Federal Reserve and the history of US banking.Were you among the approximately 31% in favor of the bailout?
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About the Author
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templestream@xanga - Name: Rick
- About Me: I moved from New York to Ukraine in Dec 2001 as a missionary. My desire is to be used by God in any way He shows me. I serve as a pastor/teacher at a home church in Simferopol, Ukraine. I also enjoy writing songs and worshipping God. I live with my wife Olya and sons Jacob and Isaiah. Our church, River of Life, follows the distinctives of the Calvary Chapel movement. Worshipping God and studying God's word chapter by chapter are two of the main emphases of our fellowship. For more information, here's a link: http://www.simferopol.golgofa.com.ua/index.php?lang=en
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Comments (5)
Wow. I don't support the bailout at all. We have a capitalist economy and should remember that.
How was the amount of $700 Billion determined? "It's not based on any particular data point," a Treasury spokeswoman told Forbes.com. "We just wanted to choose a really large number."
I found that highly amusing, and sort of pathetic.
Nice post, I agree with your sentiments about the bailout.
I find it ironic that the bankruptcies are continuing after all that money was spent.
Yes, we should not agree with bailout. It has been known
to everyone that our country has been experiencing economic downturn. Several
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One of the easiest ways to enter into it is to write articles for blogs,
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This is called SEO, or search engine optimization, and it's a good way
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marketing, and you don't need a cash advance to get started.
@jupiter312@xanga - @abcdefgaby@xanga - @MusicologyNut85@xanga - @HoustonV - Since I wrote the above article I changed it a little to emphasize the new bill to audit the Fed. You can see the revised article at this link and the Fed audit info here. Maybe you didn't have a choice in terms of the bailout but you can contact your political representative to support the audit of the Fed if you believe it is a good idea.