OK, many thanks to the intrepid Cappy Cap readers for I have received two links that are keeping tabs on which companies are receiving the bailout money;
1. Propublica
2. Bailoutsleuth
Remember, congress didn't listen to the people, and frankly, never will. Of course, that doesn't mean you're powerless. It's time to start voting with your dollars. You can take back your money and effectively mute the bailout by refusing to do business with these institutions or demanding a rebate or discount for the amount you're owed.
When these figures become more finalized I will be calculating what each taxpayer is owed and therefore what specific amount every taxpaying American should request from these firms.
In the meantime BUY MY BOOK!
It basically rips apart all the scumbags who caused this debacle and really is a great book if you just want a good solid tutorial on how this debacle came about.
Along similar lines, I have a research question for the Capn. I'm looking for data pertaining to wage increases and debtor/creditor relationships throughout the inflationary 1970s. A historical narrative treatment of the problem would also be helpful.
ReplyDeleteThe reason I ask is that, other than being a junior deputy aspiring economist, I am also carrying significant student loan debt. My goal is to pay this off ASAP, and after seeing charts like (http://research.stlouisfed.org/fred2/fredgraph?chart_type=line&s[1][id]=CURRENCY&s[1][range]=5yrs), among other monetary aggregates, I am beginning to believe we are in store for another bout of severe inflation. Almost as a rule, inflations reward debtors and penalize creditors, so I really want to get an idea of what sort of impact a large inflation would have on myself, that way I can plan accordingly. I cannot wait to have these loans fully paid off and to be completely debt free, thereby allowing me to leave this godforsaken socialist country--you see Paulson now plans to give money to non-financial institutions and Congress is planning to, inevitably it seems, bail out the worthless American automakers? I mean, WTF?--and go someplace else that actually encourages hard work rather than parasitism and suckling at the teet of Government rather than producing things that consumers wish to buy.
You don't have to explicitely name books or data series, but I would appreciate it if you could at least point me in the right direction because right now I haven't much of an idea where to begin looking. Thanks!
Well, I can try to not do business with any of them, but my mortgage is with Citibank and with only 4 years left to pay on it, I certainly don't want to refinance.
ReplyDeleteDoes selling off my Bank of America stock before the sub prime stuff hit the fan count?
[...] and go someplace else that actually encourages hard work rather than parasitism and suckling at the teet of Government rather than producing things that consumers wish to buy.
ReplyDeleteWell, good luck with that search. Do you already think of a specific country?
Good luck on getting a refund of your share of the trillion or two they're going to throw at this. Maybe better to simply ask them to stop being stupid?
ReplyDeleteHmmm.....maybe if pigs fly. As for me, I've been minimizing my exposure to debt & inflation for over a decade, really before I even understood why that was a good idea in the grand scheme of things. It's been good, as I've apparently beaten the stock markets by 7% each year, judging by the DJIA today vs. a decade ago.
My husband and I are sick of our money being squandered by these large companies and our Representatives. Why can't we refuse to pay our credit card balances to the companies that are receiving bailout funds? How many times are we supposed to pay? Please let me know what could be done to us if we refuse to pay these amounts. We are the ones who pay taxes and are struggling but no one seems to be concerned about us. The Government just wants to take and take from us and it has to stop. We have got to take back our Country but most of us have no idea how to do this. All of us need some advice and guidance on how to make our Officials accountable to us and realize that they are, in fact, working for us. If things don't change we are not going to have a Country left. We all need to stand together and demand that things change and change quickly. I look forward to your comments.
ReplyDeleteArchive for Wednesday, February 14, 2007...
ReplyDelete"Bank of America said Tuesday that it was issuing credit cards to Spanish-speaking immigrants who may not have Social Security numbers
"Other major banks including Wells Fargo & Co. and Citibank have launched similar initiatives to gain customers in the burgeoning Latino community.
"Wells Fargo began a pilot program last year in Los Angeles and Orange counties to offer home mortgages to immigrants who have lived in the United States for at least two years. The customers are allowed to identify themselves using taxpayer numbers issued by the Internal Revenue Service instead of Social Security numbers"
http://articles.latimes.com/2007/feb/14/business/fi-credit14
.
.
.
Bank bailout: Who's getting the money
10/28/2008
Wells Fargo & Co.
San Francisco
Calif.
$25,000,000,000
10/28/2008
JPMorgan Chase & Co.
New York
N.Y.
$25,000,000,000
10/28/2008
Citigroup Inc.
New York
N.Y.
$25,000,000,000
10/28/2008
Bank of America Corp.
Charlotte
N.C.
$15,000,000,000
10/28/2008
Merrill Lynch & Co. Inc.
New York
N.Y.
$10,000,000,000
10/28/2008
Morgan Stanley
New York
N.Y.
$10,000,000,000
10/28/2008
Goldman Sachs Group Inc.
New York
N.Y.
$10,000,000,000
11/17/2008
U.S. Bancorp
Minneapolis
Minn.
$6,599,000,000
11/17/2008
Capital One Financial Corp.
McLean
Va.
$3,555,199,000
http://money.cnn.com/news/specials/storysupplement/bankbailout/