The 12 Banks Bailout Reveals Capitalist Hypocrisy. The Rich Will Always Protect the Rich While the Common Man Continues to Struggle to Pay His Bills and Feed His Family. 

The 12 Banks Bailout demonstrates the extent of the great economic black out in the United States.

It is the result of the never-ending gluttony and greed of the corporate elite. They have rendered countless people homeless and desperate.

The banks have no rush on returning the multi-billion dollars in giveaways while working people must make loan and credit deadlines or suffer the consequences.

The endless corporate welfare fund knows no bounds. There is no end in sight to the misery compounded to working people’s lives.

The funny part is that the banks seem to have no clue about where the taxpayers’ money is going.

Banks like Sun Trust in Atlanta had its spokesman saying that they are not tracking the “dollar in and dollar out issue”.

This bank had received about $3.5 billion in taxpayers’ money.

Another bank that received the same amount said that they track their money issues annually when recently questioned on the same spending issue.

The banks are borrowing money from the government, hoping that the inflow of cash will enable them to lend money and start the same old shell game all over again.

Nobody questions where the cash that has disappeared from the market has gone and the same bumbling boys behind the crisis have been left to continue seeing that the ever growing financial firestorm spirals further out of control.

The government should be accountable to the public for the 12 banks bailout but in reality it serves only big capital.

People often falsely believe that state banks are guiding the economy. The Federal Reserve and Central Banks are in reality just a sham.

They are run by the private banks and bankers and that includes in the US.

Taxpayers Demand Records

Though banks rigorously examine the credit record of borrowers these rules are not applied to them.

Luxury offices and fat executive salaries have been top priority for spending billions of the tax payer’s money given away in the 12 banks bailout.

This money will not convert into more lending to the public as the Administration claims it expects will happen.

There is absolutely no accounting for of the money spent by the banks, in spite of the fact that the law makers summoned the major bankers and made an urgent request to start lending the money to the people, yet no development on this is visible on the part of the banks.

The US Government is a major shareholder in many of these institutions now and could use that influence to set things straight.

For starters those responsible for the crisis could have been removed and investigated.

The banks could have been restructured and re-oriented to help the economy.

The banks could start lending on flexible terms to stimulate the Main Street economy, instead of using it to buy other banks or hoarding it unnecessarily on the inflated corporate business.

But the opposite, i.e., more of the same, is the game plan.

So Much for an Economic Jump Start

The 12 banks bailout was never supported by public opinion yet another cash infusion of $700 billion by TARP (Troubled Asset Relief Program) is in motion.

Yet nobody noticed any rescue mission. It’s more like a magic show where ever increasing amounts of taxpayer funds vanish into the vaults of the wealthy.

It is not just the people, even the Congress that has no clue whatsoever for the where hard near trillion dollars paid by taxpayers has gone.

Most congressmen don’t care as long as some part of it winds up in their campaign war chests.

This has already occurred for Banking Committee members in both houses and on both sides of the congressional aisle.

The banks need give no answers, even for the money they got from Fed, after all they run it.

The present financial condition of the country and the boost for the bankers in this 12 banks bailout eloquently illustrate who is in charge while the masses are spoon fed the same old lies about democracy and freedom as they sink deeper into third word poverty on Main Street, USA.