leading cause of bankruptcy america

leading cause of bankruptcy america

The financial sector of the United States is collapsing – and it has for many years. Defaulted home loans number in the millions and the Fed can no longer make positives out of the ruthless Behavior shown by greedy investment banking institutions. Here are some quick facts on the recent financial crisis on Wall St. are

 • The Fed has given Bear Stearns a $ 29 billion-dollar bail-out;
 • The U.S. government has taken over both home mortgage monsters Fannie May and Freddie Mac – for an overall economic impact to the taxpayer a total of more than 200 billion U.S. dollars;
 • The traditional standard of the financing, Lehman Brothers, recently declared bankruptcy;
 • insurance moguls, AIG received a 85 billion U.S. dollars loan from the Fed – before being taken over by the U.S. government;
 • The Bank of America acquired complete takeover of Merrill Lynch – previously the world's leading brokerage firm;
 • Morgan Stanley is to be acquired by a similarly experienced commercial banking institution;
 • Goldman Sachs was almost beat to death by the bad stock market;
 • Washington Mutual, the largest savings bank in the world, bordering on a complete collapse;
 • And guess who's going to all the pay?


They are not diluted enough to believe that the government is to take the losses, are you? Perhaps our elected representatives are all right in and volunteered for some serious pay-cuts. Or better yet, maybe the CEOs of the companies all give up a ridiculous $ 20 or $ 30 million of their salaries to help stabilize the economy. Yeah right.

The fact is, as usual, that we be made to the taxpayers, to secretly and countless ways in which we suffer, to try to continue to remain positive and true to our all-compassionate leaders and employers.

Are you aware that there is a better way – a far better way?

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President Obama on Health Care – February 25th, 2009

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