Another Bail-out LOUC to understand

If the previous post of how your hard-earned money is going to pay Wall Street bonuses to the tune of $70 Billion USD didn't get you mad, how about the monies that the ESA 2008 is paying out to the banks supposedly to fix the credit problem is now going to used without "guard rails."

What this means is that the Treasury decided NOT to tell the recipients of the ESA monies how to spend the money! WHAT!!!!!! That's right, Hank Paulson, current Treasury Secretary and formed Wall Street banker (hard to understand his thinking, eh) says that he would be too tough to restrict how the monies should be used.

So the financial institutions that are getting the bail-out funds are now heard of using the monies to buy out their competition that didn't get the bail-out funds.

Whoa! That means that the institutions being favored can now put the "whup up" on those that did not get this favored treatment. Forget about easing the credit crunch, let's buy out the competition with taxpayers monies.

Now that's a good idea don't you think? The Government is now an active player in the financial systems by helping to support or kill particular players. So much for free-enterprise, eh, here's come socialism.