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Redistribution

September 25, 2008

So help me out here, are we not talking about a massive redistribution of wealth right now? No, not redistribution to the poor but to the wealthy?

Help me understand this if you could. $700 Billion for a bunch of guys who wrecked companies and walked away with million dollar severance packages really hits me in the face. Why not start there?

I don’t know all of the facts and I’m sure someone can explain this so that it doesn’t look like a giant chunk of cash to bail out business. It sounds a lot like bigger government.

Why not just kick the $700 billion to the American people, I’m sure they will spend our way out of this problem. ha ha.

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2 Comments leave one →
  1. September 25, 2008 3:47 pm

    The problem is the US government and the Fed don’t really know the extent of the problem or if this massive amount of taxpayers money will resolve the problem. In fact, they don’t even know if it will be enough. Little wonder then, that the average US citizen is concerned and confused. This truly is a case of the blind leading the blind.

    For what it is worth, I do think that something needs to be done. But I do not believe that the US taxpayer should be buying, what amounts to junk bonds for a fugure close to their maturity value, rather than what they are currently worth. I still think there are many questions to be answered, I hope they are, because the American taxpayer is right to be concerned.

  2. September 25, 2008 4:29 pm

    UK Voter,

    Thanks for the thoughts. My struggle is what if we just keep pushing back the needed correction with this? What if we already have been for the past 20 years?

    Is having two cars and HDTV really that important? I guess we will find out.

    Thanks for your thoughts. It is good to get someone elses POV from outside of the U.S.

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