Government incompetence and poor judgement.
|Banks are businesses.
Car companies are businesses.
Harvard University is along for the ride.
This is their horror story.
October 3, 2008. The official name was the Emergency Economic Stabilization Act of 2008.
In 2008 our government gave these failed businesses $700 billion dollars of our money. These businesses failed due to their own incompetence and corruption. When they received our money did they return it to their businesses? No. They continued to fire half of their employees, (us) and they cut our salaries in half. The government said, “Banks and car companies are too big to fail.”
That was and is their mantra. The “bail out” or “stimulus” failed due to greed and lack of oversight.
Under the rule of law these corporate war lords and corrupt gangsters would and should lose their businesses and should be sent to jail. Instead, banks and car companies were given a gigantic pay day, in effect a reward for committing their crimes of fraud and deception. Many of them continue to hoard that money today. (The truth is most of the money was paid back but at a great cost to the employees.)
-And now for the math and economics of it all-
The government could have made the right decision. They could have and should have given the money to us. It works out to $250,000.00 for every household in the United States.
What could you do with $250,000.00? (The government authorities think that you do not have the capacity to think.) What they do have is your money and earlier this year they gave your tax dollars and your future generations tax dollars to themselves and their pet projects. $2 billion dollars went to us and our small businesses. The other $6 billion is going to the military, research and hidden items that we are too feeble minded to understand.
Side Bar: (The citizens of Singapore are getting $10,000.00 per household from their country. In the US we are getting $1,200.00. I thought the US was a prosperous nation. Silly me.)
What might we have done with the 2008 bail out stimulus money?
Could the average citizen perhaps bail out and stimulate the car companies by purchasing a new car?
Could we bail out and stimulate the banks by buying a home with the $250,000.00 or send our children to colleges with the $250,000.00?
Could we have the ability or far fetched idea to buy a new TV, other appliances, home repair supplies or groceries to boost the economy? (Some of us have to pay bills and eat.)
Would the average citizen sit on the $250.000.00 or spend it on needs and wants?
The people who run the banks today are not giving one penny of the stimulus money to solid secure small businesses for the loans they need and deserve because the managers are sissies and cowards. They fear that the government will not honor the loans. The small businesses in need of these loans are rock solid and as good as gold. What is wrong with this picture?
I hope we all realize that the 2008 bail out of $700 Billion dollars is different from the 2020 figure of $2 Billion dollars.
Harvard University is sitting on $41 Billion dollars of their own cash today in 2020. The government just gave them over $4 million dollars in stimulus money. Do pencils and paper cost that much?
Do we need a Harvard education to figure out what we can do with $250,000.00?
Does Harvard need an extra 4 million dollars from the tax payers at this time?