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Save Me, Federal Reserve!

by Peter McKay

Two big stories caught my eye this past week. And suddenly, for the first time, I feel like I understand the whole money thing.

First, in a secret weekend action, the Federal Reserve moved quickly to throw dollars (30 billion of them!) at Bear Stearns, an investment bank that suddenly found itself without anything to invest. Seems the Bear Stearns guys were taking suckers' investment savings right up till Friday afternoon, and then planned to simply hang a "closed" sign in th ...

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Posted by: bob
Comment: #1
Wed Apr 9, 2008 6:20 PM

I agree to this WHOLEHEARTEDLY. Why should the U.S. Government bail out an idiotic organization who hands out millions of dollars to people that they KNOW can't pay it back? When MY company needs money, I have to earn it in some way. I among millions of other people in this country who run a legitimate business don't get handouts...in fact, we're so overtaxed we're lucky to make a profit at all. At least with this, we know where our tax dollars went. I would love to see the day when people need to be responsible for their own actions and earn money based on their performance and don't have a government around to bail their hineys out. That is the day when hard work will amazingly reappear and job satisfaction will abound.

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