William, you are absolutely right about the government setting a bad example for future generations by bailing out the banks. They should be held responsible for their own actions. Many U.S. banks have taken advantage of people for long enough with their predatory lending practices, sub-prime loans, outrageous fees, and sky high interest rates. It’s just silly to think that the majority of people that are suffering from the actions of these irresponsible financial institutions are struggling working class Americans. The CEOs of these companies shouldn’t be given bonuses and seven figure checks. They should face consequences for ruining lives and bringing down the economy. Not to mention bankrupting entire corporations.
The money that the banks are getting are actually being created by the Federal Reserve, which is a large privately owned bank that loans out money to the government, who in turn lends it out to national and local banks. At the bottom of this hierarchy are individuals who borrow that money and are obligated to return the principal amount including interest. The interest that we pay on our debt is shared between the banks, the government, and the Federal Reserve.
In order for our society to function on an economic level, these loans need to be repaid. This is an endless cycle of debt that allows the wealthy few to profit leaving the rest of the population trying to make up for it.
Debt is a modern form of slavery where people are forced to work to pay off that debt. The people at the top of this food chain are the ones who created this game that we play. Therefore, they are the ones that decide when to change the rules or make some up as they go along. The whole objective is to keep people playing.
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