Their Bailout = Our Demise
How long will we allow Wall Street and the Financial Institutions to run or maybe ruin our economy? The premise of a bailout is to rescue these entities from bankruptcy and possibly going out of business. The after math of the bailout does not support the premise. In lamest terms these entities’ have taken (our) bailout money to continue paying execs ridiculous salaries and leaving us the consumers out to dry. Honestly, as a consumer I find it quite the insult to have hidden fees applied for services, poor customer services, and less than admirable accommodations for modifications on loans, credit limits, etc. While we are in the worst economic crisis in decades these entities are vacationing, living lavish and collecting millions in salaries and bonuses of our money. I agree with the Obama Administration in proposing tighter federal oversight of their industry. There is a need for some restrictions, guidelines and caps. The people fall victim to the financial industry all too often with no viable recourses available to us. One of the biggest slaps in the face to the American consumers came from the credit card companies before the Card Act of 2009 took effect. They continued to jack up rates, interest, finance charges and fees on existing balances. Well, Wall Street and the Financial Institutions that have been bailed out are giving us another slap in the face (how many cheeks do we have?). Obama argues that the risks outweigh the consciences while Republicans are blocking. What do you think? Would you rather be victimized by these companies or have limited consumer choices? Hmm, tough one huh?
