Saturday, July 18, 2009

Banks are busted.........

Four more banks failed this week.....two in California and two in Georgia. The cost to the FDIC almost 2 billion! Why are the little banks, little as in comparison to some of the large national banks, in these states failing? Look at my post yesterday. The middle class is the driving force in this nation! If we do not have jobs, if we cannot pay our bills, if we do not borrow money, buy new cars, build new homes.......small town American suffers.........America suffers!! Had the government bought all those loans......paid the banks off........and refinanced with the home owners to 2% an outrageous number the country and the government would still be better off!! Why? Less banks failing, more money in America's pocket! These large securities and investment banks have no power to turn this economy around, we have all lost confidence in them already. They are just manipulating the system. But put that money into the middle class, put that money to work, instead of setting in someones bank who got a hefty bonus for nothing or severance package for failure! The stock market finished up last week because housing permits, and housing starts all went up more than expected. What does that have to do with someone like Citi group or AIG? Nothing! But crude prices went up, confidence in the market went up, people started investing again because middle class Americans are working again. Wake up Obama......we need jobs to turn this country around.........we the people that is....here in blue collar America

1 comment:

Anonymous said...

i agree 100%

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I am a Registered Nurse and Practical Nursing Teacher.