Did the top one (1) percent of RICH create the recession?
You might want to do some research before answering this question. Do the big earners think they are more entitled that the rest of the public? If so, might they pocket bail out money-because they deserve a few million dollars in bonus money?
The top 1 percent of earners in our country are few and far between compared to the number of people who were given loans that they shouldn't have been given (because they had no verifiable means to make the payments). These loans were given to people so that Fannie Mae/Freddie Mac upper-level managers could receive huge bonuses.
Yes, many companies abused the government bailout money, but there were tens of thousands (maybe 100 thousands) of lower/middle income people receiving the loans and maybe hundreds, at most, who got the bonuses.
The rich can't be blamed for this. If people were to conduct some research into just who it was that shut down the independent Fannie/Freddie auditors, and actually accused THEM of fraud when they were just reporting facts and actual events taking place, they could easily find congressional hearings and transcripts online. And in these transcripts, it was definitely NOT the Republicans and the rich who are to blame.
Thank you for your answer. I do agree that your words are correct. I would however like us to take a look at the unfortunate state of mind/attitude/greed and yes-fear of not having enough that has lodged its self into your culture. I think I am actually trying to dig deeper than even my original question. What about the elite attitude that is "we are better than them*?"
*them being "us" the regular folks. Can you see on some level that there is an attitude that exists in some parts of our governments-especially in the past years-that has created this attitude/behavior/desire to have the status "stuff" that encourages the regular folk to judge themselves and their needs in a consumer oriented - needy way?
by Jesusjohn78 2 years ago
Everyone hates the "rich" and I do not understand why. I was always under the impression the American dream was to become successful and stay successful? SO why are we always trying to punish the rich?
by Tony Lawrence 6 years ago
Or they will if Romney gets his way:http://www.philly.com/philly/opinion/20 … _rich.html
by alexandriaruthk 4 years ago
How can we close the income gap between the rich and the poor?Increasing the minimum wage, any suggestion?
by The Frog Prince 6 years ago
Is Obama showing his academic records/Fast & Furious docs a fair trade for Romney's tax returns?Here we have a President who has any data about his past sealed and is demanding that Romney release five years of tax returns. How about a little show and tell Barack. You show us your...
by MikeNV 8 years ago
The Associated Press released a story today... an anti-republican, pro Obama piece about jobs created with stimulous money in South Carolina in a mostly Republican area."The new hires came from a broad area including parts of South Carolina and Georgia, and unemployment rates have continued to...
by John Holden 4 years ago
Looking for this for ages, finally found it.https://www.youtube.com/watch?v=CKCvf8E7V1g
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