posted on May, 15 2009 @ 05:11 AM
The Financial Services Roundtable, a major industry lobbying group, said in a statement late Thursday that the administration had
made the correct decision in expanding the bailout program.
The key phrase would be "lobbying group". Of course the lobbying group is stating that it is a good move. The group only stands to profit more from
it. These lobbying groups need to end. Laws should be made to the benifit of the people not the corporations that rule the people.
"The TARP program is working and it should be expanded to include as many facets of the financial services industry as possible.
By including life insurers in TARP, it helps ensure the recovery effort is broad and covers all aspects of the economy," said Steve Bartlett,
president of the group.
How is the TARP program working? Would some one please enlighten me on the facts that make it a working solution? So far we have GM, AIG, Chrysler,
and several insolvent banks that have recieved money and are still failing. The listed companies are either bankrupt or almost there.
My personal opinion is that they are setting up for an AIG failure. By boosting up the other companies and making them look strong, they can then
"allow" AIG to fail, which we already knew would happen. This is becoming one huge bait and switch operation using our tax dollars.
It's not covering all aspects of the economy. The TARP program has only helped wealthy people stay wealthy or build their wealth more. The government
is not going to bail out my buisness just because it is slowing down due to the economic conditions caused by the ones getting the bail out funds.
The insurance agencies have been giving the American people the shaft for decades by denying claims and by manipulating and twisting laws to their
favor. Now they are getting to shaft us again by stealing our tax dollars.
How are they failing? I still pay my insurance as do most people. The only reason the companies could be failing is due to bad managment tying up
company funds in bad investments. How should that be a tax payer problem. If I buy 100 lottery tickets and none of them win then it was a bad
investment on my part. I can not see the govenment stepping in and bailing me out because I made a bad investment.
(visit the link for the full news article)