Federal Bailout Plan: Nothing But a Joke

By now, everyone knows about the federal bailout plan, first enacted by President George W. Bush and extended by President Barack Obama. The plan is to give financial institutions more money to waste and the American people a small portion of money, which is too small in most cases to do anything with, much less help them get a handle on debts caused by financial institutions.

The so-called stimulus package that the American people get is barely enough to pay even one bill. For the average person receiving social security, it can be as low $250. So, the people who are really struggling to choose between paying bills, buying medication and food, this is really not going to help them at all, now is it?

Would it kill the American government to come up with a plan to help the real little people and not the rich? How about this for a plan:

1. Stop all foreclosures, initiate an investigation into all mortgage companies that defrauded their customers into buying too much or letting them think they had credit life to cover the death of a spouse. All companies found doing this should be prosecuted and all claims they hold, forgiven. Yes, I said forgiven. Why should people be forced to pay for some overzealous mortgage company deceiving them? I personally know a woman who sat in a mortgage broker’s office with her husband and made absolute sure that they had credit life (which cancels the debt owned by the surviving spouse) attached to their policy because her husband had many health problems. In November of 2001, her husband died and she found out her broker Mr. Robert Emmanuel (then with United Companies, now known as EMC, but manager of his company now – AmeriQuest, who was recently was sued for Real Estate Fraud http://www.flippingfrenzy.com/category/settlement/#) had lied to her, and sold her a credit life insurance policy that only covered accidents. Therefore, she was left with a debt she has struggled for almost 8 years to pay. She is now on the brink of foreclosure, of a home she has owned since she was 17 (she is now 55). She has worked almost every day since her husband’s death to keep a roof over her head, she even worked with pneumonia, a fracture in her leg (one she had to let heal itself because she could not afford medical help) she has worked without medication she badly needs. She and millions of others deserve help and those in Washington need to start doing their job of protecting the little people.
2. Investigate all bank loans – see if any bank gave out money knowing the person had no way of paying it back. There is an investment law that says you cannot wager more money than your client can afford to lose. If a bank does that, shouldn’t they be held accountable? Do not say it would take too long or cost too much money to do this, trust me it will be faster and cheaper than the stupid bailout.
3. Stop giving money to investment firms, banks and mortgage companies, they blew it with their own money, why give them more? In addition, please stop telling the American people the bailout plan is working, it is not working because the little people are still suffering. Now I know change isn’t going to happen overnight, but us little people are not seeing a change at all. We’re not getting million dollar bonuses and all expense paid vacations like Merrill Lynch and so forth. You bailed them out and they blew that money faster than a frat boy buying beer with tuition his parents sent him did. Stop the bleeding!!
4. Give out a real stimulus package – TO THE AMERICAN PEOPLE!!!!

Here is how it would come out: