Tuesday, September 23, 2008

Wealth Transfer

The wealthiest 5% of US citizens will pay $600,000,000,000 to bailout bad loans. If you add the newest bailout to the previous bailouts, the total is about 1 trillion dollars. The top 5% pay 60% of the US' bills thus the 600 billion figure. There is no such thing as a free lunch and the nationalization of this much wealth will have effects far into the future. All roads are leading back to Freddie and Fannie which are government controlled entities. Will the American people be protected from future government debacles? The government forced these bad loans to be initiated in the 1990's and now the government is forcing the American people to cover government graft.

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