Wall Street bailout aid questioned at Fed event
By JEANNINE AVERSA, AP Economics Writer
Sat Aug 23, 2008
JACKSON, Wyo. - Do Washington policymakers listen too much to Wall Street? A possible bailout of Fannie Mae and Freddie Mac, on the heels of similar action involving investment firm Bear Stearns, seems to send a loud signal to financial companies that the government will clean up their messes
If YOU face bankruptcy, you're pretty much on your own. Your creditors get all the breaks.
If big finance faces bankruptcy, no problem! The Fed will bail 'em out!
Note: I'm not anti-biz. I was gainfully employed by a Fortune 100 company for many years. I was fed and housed by Big Oil when growing up!
BUT: When every policy decision favors big biz over the ordinary citizen, something is screwy!
Stop the madness!
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