even if the government is making money from the bailouts still doesn't it right.. and the way they did it - picking winners and losers, bailing out their "cronies", forcing others to accept the bailout, etc..doesn't look like a government of a free democratic country to me..

yes, the complete collapse of our financial institutions would have been preferable

"they actually already making money from it.. i think AIG and GM are the only 2major companies that have not paid back."
Mike, you're correct. Banks are making tons of money. You know how? By buying 10-year treasury bills at 3% interest and no risk because the FED lowered prime rate to 0%.
You know who these banks are making money on? You, me and millions of Americans (many of whom are senior citizens living on fixed income) - and whose money can't even keep up with the rate of inflation because they are getting 0% return from the banks.
So the banks turn over hundreds of billions of $$$ to the Federal government for a promissory note, and the government turns around and spends that money on buying favor with special interests and buying their votes.

This is the real "wealth redistribution" - on a massive scale.

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Новые фотки - у дочери на дне рождения. 16 лет. Very BIG DEAL !!!

"and whose money can't even keep up with the rate of inflation because they are getting 0% return from the banks."
- well, nobody ever said banks are investment institutions. Want money to grow- keep 6mo expenses in the bank, invest the rest.
At least into Govt bonds, those are safe. Any "senior" even without any knowledge of it can get free investment advice at their Senior Center or at those free seminars in town.

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Happy New Year to all! Virtual hugs!

Julia,
You're missing the point. It's not about advising seniors and others how best to invest their money. And by the way, government obligations are "safe" ONLY if held to maturity. For a senior citizen to by 10-year treasury bill now would mean he will get his money back ONLY in 10 years. Sold in interim in the secondary market, this investment will likely lose money if interest rates go up - and they ARE going up because there is no room to go down!
The point I was making is that what the government is doing now - transferring billions from savers to the banks via currency and interest rate manipulation is nothing more than "wealth redistribution" on a massive scale which dwarfs any "stimulus" of which there already have been several.

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Новые фотки - у дочери на дне рождения. 16 лет. Very BIG DEAL !!!

Lawmaker Seeks Investigation Into ShoreBank Bailout
The Bachus investigation could pose problems not just for the White House, but also the firm involved in the bailout, among the most prominent is Goldman Sachs (GS). As reported by FOX Business, Goldman and several large banks have agreed to pitch in about $140 million, which when combined with probable federal aid, would prevent the FDIC from taking over the troubled lender.
But people at the big banks say they received what they described as political pressure to make the contributions; Shorebank is based in Chicago, President Obama's hometown, and has been singled out by the president for praise because of its lending activities in poor communities. In addition, President Obama's senior adviser, Valerie Jarrett, has served on a Chicago civic organization with a Shorebank director.

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Человек, который почувствовал ветер перемен, должен построить не щит от ветра, а ветряную мельницу

For a senior citizen to by 10-year treasury bill now would mean he will get his money back ONLY in 10 years.
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Treasury bills are short-term government securities with maturities ranging from a few days to 52 weeks. Bills are sold at a discount from their face value.
Treasury notes are government securities that are issued with maturities of 2, 3, 5, 7, and 10 years and pay interest every six months.

Surprise, surprise - Obama and co. are corrupt! (ch)
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innocent until proven guilty

"In a letter to President Obama, Bachus writes: “In a year in which hundreds of banks are expected to fail, it is good news that this troubled institution has managed to survive. The question that many are asking, however, is why did government-supported Wall Street banks decide to save ShoreBank rather than the numerous others that faced a capital shortage?”
Some of the nation’s largest banks including Goldman Sachs, Citigroup, JP Morgan and Bank of America, have agreed to pitch in about $140 million, which when combined with $75 million in federal aid, would prevent the FDIC from taking over the undercapitalized community lender known for its strong ties to Washington."

Doesn't this pretty much answer his question? So far, I see no evidence of corruption - just business as usual.

lol, the only bank to be bailed out by "big banks" is the bank with strong ties to Obama..
and executives of big banks claim it's because of strong pressure from the White House..
I would say it's a smoking gun if i ever saw one.

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Человек, который почувствовал ветер перемен, должен построить не щит от ветра, а ветряную мельницу