Let Them Eat Cake!

‘Let Them Eat Cake !!’

Well, I still am on a campaign for the banking industry, PMI companies, AIG, the Federal Government, Fannie Mae, Freddie Mac, FHA, and any other lien holders to finally “get it”!! These incredible bonuses for AIG employees that are coming out of the government bailout funds because of some contractual obligations is ridiculous! How could that not have been negotiated out of existence as part of the bail out? Those folks should be happy to have a good paying job, let alone having the thought of suing because the bonus was not big enough! How absurd! How egotistical! How vulgar to think they deserve, or entitled to such grotesque ‘bonuses’ for work that was not over and above the bar.
These funds would be better spent on repaying, or investing in the future economy. The TARP funds had very specific uses… BONUSES are not included! Take that money and the $30 Billion that seems to be floating around that no one knows what to do with and put it into circulation. Hire contractors to repair the houses that are currently in need of repair. Stop the downward cycle that is affecting many neighborhoods. Sell these rehabbed houses to the general public. Through the sale repay the Tarp funds so it can continue to be utilized to address similar needs in other neighborhoods. With the profits the institutions can become more fiscally sound, community minded and create a repayment program, as well as invest in housing that has greater and more stable values.
(This is not brain surgery! If the Fed thinks it can handle health care, this should not be that tough)
There would be many benefits to the communities from this type of program. Local contractors would be put to work. Supply houses would be active selling products. Buyers would be able to easily finance these homes. Many businesses rely on a strong housing market, the economy would start to trend upward. Attitudes would change because people would be working again.
Instead of looking for these sensible solutions, our Government has decided to allow the shoddy leadership of companies like AIG and others with outlandish Bonuses. They seem to take that same stance as Marie Antoinette when she stated… ‘Let them eat cake !’ as the nation continued to suffer. Just remember the fate of Marie Antoinette !