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  • Here’s Your Bail Out Money

    by Founder on January 4, 2009

    in Voice of the People

    The American people were against the bail outs. We flooded Congress with phone calls and faxes overwhelmingly voicing our displeasure for the passing of these bail outs. But our elected officials completely ignored our pleas and passed the bills anyway – thinking they “know better” than the American people. They passed these bills and gave away billions of dollars without any regard as to where the money was going and how it was to be spent. No oversight and accountability at all.

    Let us look at where some of your hard earned (yet easily taxed) money has gone. And you can tell me if you are happy with how your money is being spent (wasted).

    • Your bail out tax dollars are being used to pay the huge salaries of the executives of these companies.
    • Citi Groupreceived $45 Billion in bail out money AND a $306 Billion backstop on its portfolio of bad mortgage backed securities – the government told them not to worry about their obvious inibility to run a profitable company. It is the government printing presses to the rescue.
    • Citi has a 20 year deal with the NY Mets for the stadium to be named “Citi Field” – and they are still going through with this deal. It’s now America’s Stadium.
    • Banks are using your bail out money to build an empire – PNC Financial Services got $7 Billion in bail out money and then went out and bought National City Bank
    • Cleveland’s National City bank was on the verge of collapse because of its greed in pursuing sub prime mortgages yet were rewarded by the government with $200 Million.
    • Bank of America which got $25 Billion spent $7 Billion to double its stake in China Construction Bank – a foreign bank. Meanwhile -
    • Bank of America CEO Kenneth Lewis took home $23 Million last year
    • AIG received $85 Billion in bail out funds then headed straight for the exclusive St Regis resort in Southern California to spend $440,000 for their 8 day stay.
    • Capital One received $3.55 Billion in bail out funds and paid its CEO Richard Fairbanks $73.1 Million in salary last year.
    • Morgan Stanley which received $10 Billion in bail out money spent $356,000 on a private jet last year.
    • Citi Group, Bank of America and JP Morgan each spent upwards of $5 Million lobbying the federal government – in just the first 9 months of 2008. Where did this money go?

    So there you go. Are you still in a good mood? Are you still apathetic about what our government is doing with your money? This is clearly a case of TAXATION WITHOUT REPRESENTATION. Our government only cares about big business. If you could lobby Congress with $5 Million they would probably listen to you too. But we must use the Constitution to do our lobbying. Enough is enough!

    We the People are sick and tired of our government wasting our hard earned money. Please stand with me and voice your opinion. Make your voice heard today and join me as we try to stop our nation and our government from slipping into a rigid, controlled Socialist society. You will lose your freedoms and liberties if we do not act and act NOW!

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