Life Insurance Co's now getting Bailout

WTF? I don't get it, how is it the govt. feels all these huge companies need bailouts, yet they have left the normal people behind? What is happening? When I think it can't get any more absurd, it does.

Life Insurance companies now feel the need for bailouts and they have even become "banks' to get them. Last year they agreed to buy Savings and Loans so they could make that distinction! Will this end? Also when will the people actually be considered?

If all the money was given to the people, we would not be in trouble, the people would be purchasing cars and homes along with every other thing.

Instead, we are going to be taxed to death, with the little money we do make.

link to article: ]Wall Street Journal - Life Insurers

LONDON (MarketWatch) -- The Treasury Department has decided to extend bailout funds to several struggling life insurance companies, according to a report in The Wall Street Journal. The extension of the Troubled Asset Relief Program is expected to be announced in the next several days, the newspaper reported. Keeping life insurers on solid footing is seen as crucial to maintaining confidence, the report said. If large numbers of customers sought to redeem their policies it could force firms to sell of bonds, real estate and other investments, causing another slump in markets it added. Only insurers that own federally chartered banks would qualify for the program, the Journal said. Several insurers, including Hartford Financial Services Group Inc. (HIG:hartford finl svcs group inc com
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I have not seen one single legislation yet which actually helps all of us the "normal people", I have only seen our cost rise for everything including outrageous taxes.





[edit on 10-4-2009 by questioningall]

What part of no more bail outs don't they understand?

The bonus scandal proved that these bailouts have nothing to do with saving the economy. The rich are just fleecing the public in the greatest theft in history.

reply to post by Make Speed Limit 45


I find it amazing that all the companies who possibly made bad investment decisions are getting billions of dollars to stay in business. But the regular people who have worked their whole lives to be able to retire in comfort have seen all their pensions and money go down the drain. So the govt. would rather save the big wig companies compared to the hard working regular people! It is so disheartening and yet, the majority of the people are sitting back, just letting it happen.