Stimulation Money Senator
Greedy bankers made off with the lot
Recession soon to take more
Economics of greed is what we got
Governments react like being a whore
Openly trillions given to the crooked banks
‘twas an act they had to do and make
Financiers everywhere said their thanks
Lasting gains they and executives could take
After all how much could the politicians lose
Hefty chunks of their own retirement savings
Executives or mortgagees they needed to choose
Republicans and Democrats united in their ravings
Treasury topped up and politicians’ retirements assured
Yet homes foreclosed and the poor get whored.
7.53am Australian EST 14th August 2010
Copyright Gregory John O’Flaherty
With all the stimulations packages that bailed out finance companies and restored their share value, I feel the “Stimulus Packages” only ensured that the value of politicians, of both sides, retirement incomes were ensured; while the home mortgagee was left evicted. Supported by both sides…
In Australia we were not hit that hard, and why should we have been. 20 million people on a huge chunk of mineral wealth, compared to the USA with 300 million people,, and then Europe..
I still can’t see how they can blame the Sub-Prime housing Mortgage market, when it forms such a small part of the housing finance sector, and it only a small part of the entire finance sector…
The war took out of the finance market, trillions of dollars, that was not there to feed the demand of industry and business; don’t tell me it didn’t. Ten years in the largest bank in Australia between 1977 and 1988 taught me a little about finance, and government word smiths.