Banks got bailed out, why do people still have credit card balances? (companies, dollar)

[4Horsemen]

I was under the impression that the bailout would eleviate my credit card balances, afterall, WE the taxpayers will be paying for the bailout, with interest.

So where exactly did the money go if not to pay off credit debt to Banks made by the taxpayers?

WHY do we still have credit card balances?

[Cyber Queen]

Ummmm no. The bailout was for bad loans and bad investments the banks made. It was not to pay off your debt. I do understand where you are coming from though. I mean hell if WE the tax payer bailed them out perhaps the government should have just give us the money and we could have paid off our debts then the banks would not have needed the money because everyone would have paid them back.

[UNC4Me]

Originally Posted by 4Horsemen

I was under the impression that the bailout would eleviate my credit card balances, afterall, WE the taxpayers will be paying for the bailout, with interest.

So where exactly did the money go if not to pay off credit debt to Banks made by the taxpayers?

WHY do we still have credit card balances?

No, instead the government gave us new credit card "protections".

You know... the ones that led to higher rates, lower lines of credit and the resurgance of the annual fee. Lucky us!

[Ceece]

Originally Posted by 4Horsemen

I was under the impression that the bailout would eleviate my credit card balances, afterall, WE the taxpayers will be paying for the bailout, with interest.

So where exactly did the money go if not to pay off credit debt to Banks made by the taxpayers?

WHY do we still have credit card balances?

You were? REALLY? I'll assume sarcasm on your part just to give you the benefit of the doubt.

[AuDiBelle]

Nope, we the taxpayers just got to buy all the toxic assets the banks got themselves into for $1 on the dollar.

[EasilyAmused]

First, why do you have a credit card balance?

[mlassoff]

Now that's actually socialism! We socialize the losses and bad debt of the big companies and let them keep and distribute profit to the few.

Nice.

[mohawkx]

I've always felt that as long as I still have blank checks in my desk that i'll have money to spend.

[EasilyAmused]

Originally Posted by mohawkx

I've always felt that as long as I still have blank checks in my desk that i'll have money to spend.

Do you work for the government?

[arctichomesteader]

Originally Posted by 4Horsemen

I was under the impression that the bailout would eleviate my credit card balances, afterall, WE the taxpayers will be paying for the bailout, with interest.

So where exactly did the money go if not to pay off credit debt to Banks made by the taxpayers?

WHY do we still have credit card balances?

The money just went to the pockets of the rich banksters.