In a poll released by Rasmussen it reported that only 7% of the public approved of using government funds (your money), to keep financial institutions solvent. The report was done on Sept 17.
Here, is the interesting question, if our lawmakers know, that only 7% of the public support on action, and still go ahead and do it, what does that say about our politicians? Does it imply they work for us or does it imply they work for financial institutions? The answer seems obvious enough.
Now, we are coming to the mother of all financial bailouts, a 700 billion dollar crap shoot. The Federal Reserve and the Treasury want your 700 billion dollars in order to buy bad holdings from the banks. The reason is because no one wants those holdings because they are devaluing. Now, the banks, used those holdings as collateral to back up other leveraged deals they've done, so unless they can find a sucker to buy them, they'll have to either put up additional assets that still have worth, put up hard cash,sell part of themselves for cash or go belly up.
So, the situations is the government is wanting to buy 700 billion(number open to revision upward or downward at anytime) of holdings, to help the banks, while only 7% of the population supports it.
We'll see with 100% certainty who the masters of this country are this week. Is it the populace that reject the idea at a whopping 93% agreement across party lines or is it the financial institutions, that reaped billions off there risky investments in good times, but just can't handle losing when the government apparently is so willing to give them 100's of billions of taxpayer money.
My bet is they work for the financial institutions, and have for about a century.
