From the AP:
The $700 billion U.S. bailout program launched in response to the global economic meltdown had a far greater impact overseas than other countries’ financial rescue plans did on the U.S., according to a new report from a congressional watchdog.
Billions of dollars in U.S. rescue funds wound up in big banks in France, Germany and other nations. That was probably inevitable because of the structure of the Treasury Department’s program, the Congressional Oversight Panel says in a new report issued Thursday…
Bail outs are never a good idea – and this is just a strong bit of proof of that. They never work as intended and will always benefit groups and institutions no one in their right mind would intend to benefit.
It was bad enough that we even did the bail outs, but if we had a government run by people with any sense at all – even if not enough sense to understand that bail outs are stupid – then we would have at least ensured that every penny went to Americans, alone. But that wasn’t the point – what was intended was a vast sum of money to be expended by Democrats to secure power and wealth for themselves – and that is precisely what we got – all that we got, and all we ever would get, while they are in charge.
November is coming!
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