We are just sick and tired of reading and hearing more about the bailout of the banking industry. No more!!
And guess what we get? We get to see them "testifying" for more than six hours in front of Congress. This brought back memories of the cigarette industry "testifying." And the baseball industry represented by their players "testifying" about the use of steroids. Why do they call this "testifying?" It should be called "confessing."
There is one question for which I cannot find an answer: just to whom do these banks owe money so that they need a bailout from government? One answer given by a friend recently was that they money to other banks. If this is the case, then the amounts that they owe each other should be written off.
So while you cannot usually get relief on a mortgage gone bad until you are underwater and in deep trouble, these same banks who actually still have money want to get bailed out before they go underwater. Something doesn't compute here.
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