Thursday, October 30, 2008

Bailout and Dividends

First it was reported that bailout money was being used to pay bonuses. Now read Washington Post, Banks to Continue Paying Dividends, which reports that "U.S. banks getting more than $163 billion from the Treasury Department for new lending are on pace to pay more than half of that sum to their shareholders, with government permission, over the next three years."

This is outrageous. Call your Congressman and demand that Congress rescind the bailout.

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