The Bailout Bonanza is Back! (Pt 1: The Commercial Paper Crisis)

The Great Depression

I’ll lead off with a brazen display of SHAMELESS bankster greed. Banks absolutely MUST HAVE all bailouts go to them. When the government said it would send $1,000 checks to every tax payer as a personal bailout, one banker implored the government to give it to the banks instead.

His rationale? The banks can serve the little people better than they can serve themselves, so don’t give the money directly to the little people where it will be wasted:

Memo to Congress

From: Jim Glassman, JPMorgan economist and labor-market expert.

Subject: Don’t send checks to workers. It is inefficient.

What to do instead? Use the banking system to channel funds to the business community….

Banks will tell their business clients that they will be compensated for any loss of revenue caused by the cessation of activity….

Banks would tell the businesses that the only way they would get the money is if they continue to pay their existing workforce. No layoffs…. That way workers don’t have to go on unemployment insurance.

Under this plan, U.S. Treasury Secretary Steven Mnuchin will tell the banks “we’ve got your back” and will funnel stimulus money to the firms.

MarketWatch

God forbid the money ever just goes to the little people as quickly as possible. It’s more important the government has the backs of the banks. (Because that’s where the bacon is, I guess.) It must ALWAYS go to the rich first and then trickle down! Greedy pigs!

Workers weren’t going to have to go to unemployment insurance to get those checks anway. My understanding is that the checks were going to be mailed directly from the treasury — just as they were under the Bush administration — to people’s homes. What a ruse just to glom onto the checks! Greedy economic terrorists with piggy-bank bombs strapped around their pork bellies!

The only lens banksters are ever capable of seeing through is the one that sees into their own fat pockets. So, let the banks burn on a spit roasted over the heat that is coming from their own ravenous greed.

Read the rest here: https://thegreatrecession.info/blog/bailout-bonanza-is-back-commercial-paper-crisis/

5 thoughts on “The Bailout Bonanza is Back! (Pt 1: The Commercial Paper Crisis)

  1. Never got checks from Bush. And besides, anyone who does get a thousand-dollar check is gonna have to do what SS recipients do–report 85 percent of it as “taxable” income. It’s all a sham-scam anyway. That can being kicked down the road will find out very soon that road has ended. Dead end….bwahahahahahahahahahah.

    1. ‘That can being kicked down the road will find out very soon that road has ended. Dead end’ … You said it sister!

  2. Yes, let’s give the money to the same people who caused the crisis.

    Insanity abounds!!!

    Those blackmailing sons of bitches!

    Hang every one of those bankers and may they burn in Hell!

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