It has been a while since Treasury Secretary Paulson and Federal Reserve Chair Ben Bernanke came up with their $700 billion Wall Street bailout, and even with the generous $110 billion in pork that Congress added, we all know what that has accomplished: many of the stronger banks bought up weaker ones, several non-banks changed into bank holding companies to snatch a piece of the action, AIG funded high-level corporate getaways, a number of astronomical bonuses were paid—just about anything except for the purpose that the money was given for in the first place, to loosen the credit situation and get money flowing again to the good folks on Main Street. That is not to say that all of the institutions receiving bailout funds used that money wrongly, but enough did to make one question why they were ever given the funds in the first place.
In fact, under the heading of That Says It All, the underlying
By Charles M Cooper ยท January 08 2009
small business, loans, bailout, florida
