On Apr 24, 2008, at 9:16 AM, Stephen Russell wrote:
> Who is getting bailed out?
>
> The government is guaranteeing the funds within the bank so if you
> had money
> there it was safe.
We are not talking FDIC insured accounts in savings banks; that was
another Republican administration. We are talking speculative
investments with companies like Bear Stearns. These are people who are
professional investors, with full awareness of the risks involved who
are getting bailed out.
People who were sold on taking out these sub-prime mortgages, though,
are not professional money managers. In the vast majority of cases
they are regular folks who trusted their banker and/or realtor to
guide them. Yes, there are a few who knowingly took advantage to try
to make a killing, but the numbers show them to be an almost
insignificant percentage of homeowners who are faced with losing their
homes and their life savings. These folks are not receiving one shred
of support from the government, while the professionals who should
know better are being bailed out.
-- Ed Leafe
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