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Originally Posted by EEEPNJ
Same place the Federal gov't is getting all this "bailout" money for crooks from.
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Yeah on this one I think Corzine is pulling monies from what was already set aside to pay down Jersey's debt, but it just continues to jeopardize the state's future. There is a significantly greater demand upon the food pantries but the entire allocation is a mistake if the state is going to get serious about digging itself out of its bankruptcy. You cannot just keep spending when you don't have the incoming revenue, and expect to balance.
It is a crock that the banks used that "bailout" money to buy more banks isn't it?
Merry Christmas to them. (Among other things, having been given no stipulations as to how to use the money.) On the surface it seemed to be a good thing for them to buy the weaker banks but what is done after a buyout... even more people off get laid off. And sure the banks said they will make loans... I guess the folks who have been laid off need them... rewrite mortgages and extend even more credit. Oh and I guess the small businesses are getting their loans again to hire more employees. That'll take care of things.
And true to the laws of competition, Washington opened the door for more than just the banks to come a beggin!
Geez... I sound like a broken record here. Forgive me.
Where's my bailout... I got Christmas bills now to pay. My 800,000 light display in my front lawn costs and I just can't give it up even in these hard times. Can y'all see it there?