American Businesses Turn into Bunch of Beggars

Time was when American businesses were the pride of the world.

But oh, how times change.

Thanks to corporate greed, today American businesses have collectively turned into a pathetic agglomeration of beggars, all pleading for a handout from the government.

Soon, even pimps and prostitutes in America will be asking for a bailout. And why not…if the crooked swines of Wall Street can get it, why not the ugly whores of Dark Street.

Just look at the list of those asking for or already gotten a bailout:

* American banks (Morgan Stanley, Citi, American Express…) want to be bailed out.

* American insurance companies (AIG) want to be bailed out.

* American auto companies (GM, Ford, Chrysler) want to be bailed out.

* American mortgage companies (Fannie Mae) want a bailout.

* American builders (Toll Brothers, National Association of Home Builders) want to be bailed out.

* American restaurants want a bailout too (we just heard Ted Turner founder of Ted’s Montana Grill ask for one in the interview with Lou Dobbs on CNN).

* American car dealers (National Automobile Dealers Association) want a bailout.

And guess what, it looks like the hyper-moronic Bush administration is bailing out every frigging incompetent business in the land.

Everyone is getting a bailout in America, that is everyone except the average American citizen.

The stinking lobbyists are out there oiling and greasing the wheels of Congress.

As a New York Times piece on Tuesday put it:

The Treasury Department is under siege by an army of hired guns for banks, savings and loan associations and insurers — as well as for improbable candidates like a Hispanic business group representing plumbing and home-heating specialists. That last group wants the Treasury to hire its members as contractors to take care of houses that the government may end up owning through buying distressed mortgages.

No, the bailout money handed out so far (over $350 billion) has not significantly eased the tight credit market.

Worse, a big chunk of the bailout money will most likely go toward  paying obscene bonuses to Wall Street executives, who caused the current crisis in the first place with their nonsensical CDOs and credit swaps.

Is this what f****** capitalism is all about – when the good times are a rollin, I take my money and party but when the times are bad and the shit hits the fan, you’re gonna have to bail me out.

No sir, this is Cronyism.

2 Responses to "American Businesses Turn into Bunch of Beggars"

  1. aditya_k   November 12, 2008 at 2:52 am

    True….its unfair that profits be shared by the few and losses be shared by the public…. Responds:

    That’s one of the major reasons why America is going down the toilet.

  2. shuaib68   November 12, 2008 at 2:58 am

    Just see how the effects are felt far and wide in other parts of the world.

    UAE real trade was riding high during those fine days that kept their tills ringing with nice tones. The real estate guys simply ripped the body of the ultimate buyer and simply pulled out anything that they saw inside. They simply robbed the people. Now, rainy days…haa, haa. I’m enjoying this.

    They left out the middle and the lower. The top that was fixed with soluble glue fell off and tumbled down. These guys are trying to grab the middle and hold on to it. They can’t. It’s stumbling.

    Humpty, dumpty sat on a wall, Humpty dumpty had great fall…. haaaaa…..haaaa. Responds:

    The real estate market in the U.S. has completely collapsed. Kaput.

    It’s so bad that even the Mexicans (most of the laborers in construction industry here are from Mexico/South America) are going back to their country.

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