Georges Marciano for Governor of California 2010

January 6, 2009

Bailout .. what we need a plan? Georges Marciano Co-Founder Guess

Filed under: Uncategorized — Georges Marciano @ 8:05 am

When you go to get a mortgage they will take you through the last five years of your life with a fine tooth comb.  They will ask you why you bounced a check, why a payment was late, where you received the lump sum money and where it went after that.  When the tax payers involuntarily agreed to the $700 billion dollar bailout they were taken to the cleaners…  Most don’t know that in the original $350. billion (loan) to the banks that there were hardly any provisions as to how they were going to spend it.  The tax payers would not have agreed to giving money so the execs could go to the spa or let more people steal more identities from their account holders like in the below blogs.  Bank of America one of the top two banks for identity theft.  In the next one that is being wrestled with now the “Auto Bailout” there is a hidden raise for federal judges that was stuck in the fine print…   I think we need to start fresh before they do any more damage without us agreeing or even knowing what we agreed to do…?  Give me your thoughts.

Georges Marciano Co-Founder Guess

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2 Comments »

  1. Here’s something the Congress could for to the economy right now. Prevent credit card companies from charging consumers more that 12% interest on their credit cards. In the 70’s that was, in fact, the law.

    The rates that credit card companies and banks are allowed to charge are nothing short usury . . . 29% 36%.
    Tell me, what do banks pay consumers when they put money in a savings account? 3%? 4%? 5% ….
    Out( friggin)rageous!

    Most small business owners are forced to use credit cards to help their businesses along because banks don’t want to be bothered.

    This one simple act could do more to stimulate the economy than all the dollars that are being thrown out the window because the Congress is populated with members who are ignorant of the most basic economic concepts.

    Comment by sportsone234 — January 16, 2009 @ 2:42 pm | Reply

    • Absolutely, right now the Insurance companies, Banks are being bailed-out the federal reserve has dropped its interest rates to practically nothing of course that is only the rate for banks to get loans not the public…. They should have saved the bail-out money and just given it to the public and let us decide where our own tax money goes and if we think a business is worth saving we will be patrons there. Congress is still voting in its own raises that we pay for….shouldn’t we vote on if they get a raise…like merit raises? Lets face it what has the bail-out done for our economy so far? It is the tax payer who is paying for it and I haven’t seen any signs of a turn or even bottoming out……

      Comment by o8justiceforall — January 16, 2009 @ 4:27 pm | Reply


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