Keyword: Government Bailouts

U.S. Taxpayer Hit to Pay Back Obama's Borrowed Billions Email Print

Just before the Bush administration fled the colossal economic meltdown, it rushed through the $700 plus billion bailout package for bankers and credit markets that had been responsible for this American economic tragedy.  This tragedy quickly ballooned into a global disaster.

The Bush bailout failed to place caps on bank executives' salaries or bonuses.  This left the door wide open for continuing corruption.

Traditionally only success can be rewarded with salary increases and bonuses.  All that changed during this scandalous economic downturn.  

The very bank executives presiding over ailing banks rewarded themselves with big bonuses.  None of this could have taken place if the tight regulations and controls Franklin D. Roosevelt put in place following the Great Depression had remained in place.  These regulations were established to insure that there would not be a rerun of the Great Depression.


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