August 3, 2011 A new study released today by the Center for Media and Democracy (CMD) shows that, despite rosy statements about the bailout's alleged impending successful conclusion from federal government officials, $1.5 trillion of the $4.8 trillion in federal bailout funds are still outstanding from the over 700 Billion of taxpayers money loaned to the Bankers.
This massive effort is in stark contrast to the mere $2 billion the Treasury has spent to directly help homeowners stay in their homes. With housing prices continuing to falter and the United States approaching 9.2 million foreclosure filings since the beginning of 2008, HAMP can be described as nothing less than an abject failure. MUCH OF THIS IS BECAUSE BANKS ARE REFUSING TO HELP CUSTOMERS AND ARE PROFITING BECAUSE OF THE BAILOUT WHILE FORCING PEOPLE OUT OF THEIR HOMES.
CONGRESS LIED TO US they spent more than 700 Billion and on top of that borrowed the money from China and now Americans are paying interest on these billions. As a result the USA is actually now financing China's military. But the real killer is that the US National Dept is now over 15 Trillion dollars. That is $133,731 per each taxpayer. And worse the interest we are paying to rich bankers is 3.7 trillion dollars. No wonder the bankers are rich. And most of them pay very little taxes. Congress has WAISTED OUR MONEY and gone into dept to foreign bankers.
Executives are being paid millions with our money. A Securities and Exchange Commission report that showed AIG executive David Herzog having received upwards of a $1 million bonus. Nov 2008.
And AIG executives took $86,000 of taxpayer money for an English hunting trip to kill rabbits.
Then in Sept 2008 AIG spent $440,000 for a week-long retreat at a lavish California resort.
Meanwhile they are throwing families out of their homes and the government is paying them to do that with taxpayer money. And other bank executives of other banks were also receiving multiple thousand dollar bonuses. with taxpayer money and most rich bankers pay very little in taxes.
So the tax payers bailed out the banks and are now billions in dept and one would think the banks would be grateful. No instead the bankers have raised the interest rates on our credit cards and continue to throw families out on the street and profit from it with taxpayer money. Who has done this?- the US Congress and President.
Also many corporations and their officers and even government employees and school superintendents are now paid over $100,000-multiple Millions a year on our backs. 99% of the income and wealth in our country is now held by 1% of the population. They get raises and the rest of us pay for it thru interest rates, and taxes. They are using computers and robots and other measures to automate (Example ATM machines replacing tellers. Meanwhile they are charging higher fees for ATM use when it actually costs them less.) Meanwhile they are laying off workers, foreclosing on homes, and cutting benefits to workers. Michigan lost over 500,000 jobs.
The middle class has become the forgotten class and is rapidly shrinking.
Look at Warren and SE Michigan and many other places 50-80% of the population is now below the poverty line. Thousands have been thrown out of their homes. Thousands are homeless and that includes many families with children. A majority of children in our schools must depend on the school to feed them. Hundreds of homeowners are underwater. 99% of citizens are struggling while the 1% are living off of us and are not even paying their fair share of the taxes. Exon and other corporations and banks make billions in profits yet pay very little taxes.
The Anti-Greed-Occupy movement is a peaceful-movement who uses the right peaceably assemble and then to educate others about this corporate greed with goal of reducing it.