FEDERAL RESERVE REVEALS:
WHO GOT YOUR DOUGH!

The Federal Reserve has been resisting for months--not wanting to have its books looked into. Remember a couple of years ago, when politicians from both parties warned us we HAD to shovel out $700 Billion to help save the American economy? Remember that? I think it was labeled "TARP": Troubled Asset Relief Program. Democrats in the House and Senate hurriedly passed it--and President Bush signed it into law.

Bush approved the expenditure of "only" half these monies (your money) and left the other half to the discretion of whatever administration succeeded him...and of course Obama immediately accepted. Again, I seem to recall he even asked for the money to be ready for distribution as soon as he took office.

Now, under pressure, the Federal Reserve has disclosed WHO got the money...and it wasn't just banks. Companies like General Electric and Verizon Communications got YOUR money. So did foreign banks: Swiss, German, Belgian, and British. Yes, it'd be a darn shame if General Electric had some financial problems. Maybe they'd have to shore up their bottom line. Maybe they'd have to quit financing and manufacturing those stupid light bulbs, or paying for lame NBC shows like Jimmy Smits' "Outlaw", or get out of the CREDIT CARD business. Did you know that right before the crisis hit in 2008, G.E. had gotten so dependent on financial business (not manufacturing or production--but loans and other such nonsense), that it constituted 55% of the company's earnings?

Anyone who works for a living ought to be outraged at the government's bailout and/or loans to these banks and companies. Let's say you're a banker who does all the right things...makes loans that are good, you're making money for stockholders, treating customers with respect, and overall following the rules. You end up making a lot of money...and paying taxes. Those tax dollars are then sent overseas to support a COMPETITOR?

Pretend you own SPRINT, or AT&T, or any other cellular phone provider. You run an efficient corporation, make money, and pay your taxes. Now the government gives that tax money to your COMPETITOR Verizon.

What a disconnect.

No incentive is being given to G.E. to succeed--because when they fail again, they'll be sticking their hands out to the taxpayer.

Success was punished, and failure was rewarded. And now it is coming to light.

Keep making the change, folks...we had a good start in November. Let's continue it in about 700 days.