The Washington Post has a story quoting Vice-President Biden on Sunday’s Face the Nation. Biden is quoted as saying that the banks may need more money to save them from this financial downturn. We’ve already discussed the ramifications of these bailout measures, and some news services are even reporting that the money these banks are receiving isn’t being used to help consumers, but rather the bank’s bottom-line. Again, I understand the economic rationale behind securing your own financial stability, I just don’t think the American people should be asked to pay for these bank’s mistakes.
Let’s not forget that it’s a small minority of people, and government agencies who failed to monitor the situation, that has created this crisis. For the most part, average Americans, like you and me, had nothing to do with this disaster, yet we (and our children’s children’s children) will suffer the twice.
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