Listings)
March 11, 2009
The Facts
A Washington Post article on Monday says a House oversight panel just released a report that questions whether or not bailed out banks used taxpayer money to finance deals in Dubai, India and China. The three banks in question are Citigroup, JPMorgan, and Bank of America. Between the three, they have received $115 billion in bailout money. The total amount of loans in question is $16 billion – sixteen billion dollars intended to be used for helping Americans.
My View
We already know that billions of taxpayer dollars probably went overseas to cover some of the “bills” run up by at least one of the banks that have received bailout money. We know that because they won’t release any records showing where the money has gone. Now these banks are using our money to invest in foreign countries – investments that give citizens of those countries jobs, not Americans.
The Post article quotes Representative Dennis Kucinich as saying “when the American people find that their tax dollars, which were supposed to be used to get us out of this financial crisis, instead are being used to ship jobs and investments overseas, there will be outrage”. But here’s the problem with Kucinich’s point – we American citizens don’t care! How do I know that? Because we are just bitching about it instead of doing what we would be doing if we really cared. Half of us ought to be standing in front of the White House screaming so loud those foreign countries could hear us and the other half ought to be standing in front of the corporate offices of those crooked banks daring the corporate folks to come out. But we’re not, so that’s that. Let the good times roll.
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