Friday, September 26, 2008

Bono on the Bailout

Food for thought: "It's extraordinary to me that the United States can find $700 billion to save Wall Street and the entire G8 can't find $25 billion to save 25,000 children who die every day from preventable diseases."


Unknown said...

Ah... the key word here is "find"... the US is not finding the money, they are simply going to print up more of it because there is not enough US currency in circulation to cover this cost.

And besides, there is no benefit to politicians to feed children, but there is political and personal benefit to bailout the people who contribute to their campaigns.

Unknown said...

Keith, I have been a little concerned about posting this on my site, but maybe I can share it here with you and your readers. This is my "Parable of the American Kingdom" based on Jesus' teaching...

"Jesus, the undocumented worker, returned home to Mexico from living in America. His family said to him, "Jesus, why have you returned home from America?" "it is difficult to understand, so let me tell you a story. The kingdom of America may be compared to a Government who wished to settle accounts with a Mortgage Lender.

When the Government had begun to settle accounts, one Mortgage Lender ,which owed 700 Billion dollars, was brought to account. But since the Mortgage Lender did not have the means to pay his bad debts, the Government simply printed up more money and gave it to the Mortgage Lender so he would not be ruined.

Later, that same Mortgage Lender, now bailed out from his 700 Billion in bad debts, went out and found a homeowner who owed hundreds of thousands of dollars. The Mortgage Lender seized the homeowner and began to choke him, saying, ‘Pay back what you owe.’ So the homeowner fell to the ground and began to plead with the Mortgage Lender, saying, ‘Have patience with me and I will repay you.’ But the Mortgage Lender wanted his money and he took the homeowner's property and forced him into bankruptcy.

So when his fellow homeowners saw what had happened, they were deeply grieved and came and reported to their Government all that had happened.

Then summoning the Mortgage Lender, his lord ​​said to him, ‘You wicked Mortgage Lender, I gave you 700 Billion to pay all your bad debt, should you not also have had mercy on the homeowners, in the same way that I had mercy on you?’ “ And the Mortgage Lender contributed many thousands of dollars into the coffers of the Government and contributed to the campaign funds of the many politicians and the Government was happy.

The homeowners were grieved, but still they elected the same leaders again and again..."

I am open to your thoughts.