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October 1, 2008
SouthAmerica: I just saw George W. Bush announce on TV the temporary increase in deposit insurance from the current $ 100,000 limit to a new $ 250,000 limit.
Now the Wall Street bailout plan has improved 1,000 percent and here is how they should sell it to the American people.
How this is going to help you?
You know that zero balance that you have on your bank account (the reason why you canât pay your bills including your mortgage) or better yet to really connect with a large number of people around the country â you know that $ 50 dollars or $ 100 dollars that you still have on your bank account â the government has good news for you that zero balance or $ 50 dollars or if you doing good and you have $ 1,000 dollars on your bank account the insurance against that money is going to increase from $ 100,000 to $ 250,000.
I hope that with this increase in government insurance from $100,000 to $ 250,000 to protect you $ 50 dollars account balance it will make you feel good.
If you did not believe that your $ 50 dollars was safe under $ 100,000 US government insurance now you should put to rest any doubts that you have about the safety of the $ 50 dollars that you have on your bank account.
I understand that a very large percentage of the American people live from paycheck to paycheck and everybody should feel better now that the money that "they donât have" on their checking accounts are much safe now.
Since Americans are âBrain Deadâ and Wall Street has shown to the people who is boss with the 777 point decline in a matter of minutes and Americans a scared to death - now that gives the US Congress a reason to pass the Wall Street bailout ASAP.
Besides the Hedge Fund industry is waiting impatiently for their $ 700 billion bailout to pass to start the clean up job in the derivatives market mess.
By the way, the real estate market can wait for the next bailout to clean up their mess.
Any questions?
How many bank accounts there are around the country?
How many accounts have a balance above the $ 100,000 insured value?
If there are just a minimum number of accounts with balances above the $ 100,000 deposit insurance limit then why they have to increase the insurance limit on all accounts?
What is going on here?
What is really behind this increase in insured value on bank accounts when most people have just a few thousand dollars on their bank account and away under the current $ 100,000 insured deposit limit?
Answer from the US politicians: Because it sounds good and gives the impression to the American people that we are trying to do something useful.
Donât you feel better that the $ 300 dollar that you have on your bank account right now will be insured up to $ 250,000 limit instead of the current $ 100,000 limit. The conclusion is: your $ 300 dollars is going to be much safer after they pass the $ 700 billion dollars Wall Street bailout.
Why donât the US government increase the insured deposit amount only on special types of accounts such as a business account, or a payroll and charge them a certain amount of money related to the amount of government insurance that they want to protect that account up to $ 250,000 deposit insurance limit?
Answer from the TV talking heads and US politicians: because you are not going to be able to get a student loan, a loan to buy a car, or TV, or a gift for your kids at Christmas time, you might not have credit even to buy food and prescription medicines, you are going to lose your job, you will be on the street without a roof over your head, and your retirement money is going to disappear, you will not be able to go to the movies anymore or go to the mall for shopping.
I just spoke with Michael he lost his job recently and he was against the bailout early this week but now he is more confused than ever but he changed his mind and he is in favor of doing anything to fix something and somehow things are going to workout for somebody.
Do you understand now why we need to act immediately to prevent the world to end right now?
I hope all your doubts about this Wall Street bailout plan has gone away and now you understand what is going on in Washington D.C. and around the world.
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cmon you didnt think that was funny??....should I write it in a bashing format so you could understand???