The wrong people profit from bailout
The front page of the Daily Herald (Nov. 13) has Secretary Henry Paulson redirecting the bailout monies from overextended mortgages to his colleagues on Wall Street.
I for one saw that coming - requesting monies for what everyone thought was a help to the stupidity of the greedy sub prime mortgage brokers to the greedy CEOs on Wall Street.
Just another executive branch and Congress flimflam.
As a charter member of the Wall Street greedy group, Secretary Paulson now wants to send our tax dollars to bail out his buddies and continue their pillage of the middle class tax payers and the retirement funds.
What does he care about retirement and support for the middle class?
He and his cronies on Wall Street have all the millions stored away for themselves for the depression we are headed for.
Giving taxpayer monies to business does not make that business a profitable company.
When the American automobile industry can no longer complete, it should close its unprofitable doors.
Finally, where is all this bailout money being generated? Will my children and grandchildren still be paying for this until they retire or expire? Or is the government just running the money printing presses 24/7?
Robert Praeger
Streamwood