- Posted April 24, 2009 by
This iReport is part of an assignment:
Stimulus thoughts: What you'd fix first
Why bailing out Big Business Fails in America
First, Americans have more choices for goods and service, then any other country on earth. Most Americans work hard for their money, and expect respect when spending their money.
Good ol giant banker. The same guys that charge us $2 to use our cash from their bank. 25% interest on use of our Credit card. $5 plus $2 a month to have a prepaid credit card, not to mention the 3 to 15 % the retailer needs to add across the board on product to cover bank fees from use of credit cards or debit. These guys can't stay viable?
Insurance - We all love a good debate with the insurance agent looking for any reason not to pay.
Katria required a Bail -out too, so did 911.
so we are insured as long as it's little stuff, and they can't find a way to wessel out of it.
Our friends GM and Crysler, boy FORD burned you hard on this one.
Guys, it's real hard to convince average Joe, you deserve a bail - out. When he doing the same kind of work, in some machine shop making $10 to $15 an hour, with that he needs to co-share his medical coverage, and pay a $500 to $1500 deductable, plus don't forget to but a little of that back for retirement Joe. So when the Banks and Insurance play creative financing with them, our savings can dwindle down to the equivelent of two weeks pay. It becomes real hard for Joe to feel disheartend by your 76 dollar an hour employees, with their free health care even dental, and their hefty retirement package, unwillingness to sacrifice atleast 1/2 that to save their job.
Meanwhile, Joe working 2 jobs to keep food on the table and the landlord off his back. Even though Joe can't afford to buy a house by the banks standard, he sure can make the payment for his landlord.
Remember when Obama said the way to rebuild this economy was from the ground up. Didn't know that ment rebuilding the economy by holding the giants up off the ground.
Now bonuses, nothing Joe wanted to hear more then the money our government borrowed on ours, our children, even our grandchildren sweat, has been creatively accounted and slip through in bonus payout. Each one of which, could have bought Joe's house outright, atleast once.
Now Joe might not have a lot of power, but what he does control is how he spends what he has. He sure as hell got more choices then those companies involved in bail -out. Washington, America said NO, and ment it.
If Washington gave me 100 billion at 0%, I could have deposited it in Bank of America, and split the interest each month as payment even at 3% that's 3 Billion return. After 6 months I could withdraw it and then Washington could give someone else a turn to collect half the interest for 6 months.