Tagged: taxpayer

Taxpayer Funds Used To Pay For Personal Misconduct

There are two words that can stop this nonsense on the city, state, and federal level: “TERM LIMITS”

In addition to the $103,00 paid out by the Assembly (as in, YOUR TAXPAYER MONEY) in a secret settlement, Lopez also kicked in $32,000 to stop the two female staffers—one of whom was represented by Gloria Allred—and their threats. Still, for Lopez and Silver, they probably saw the secret, possibly illegal settlement as a bargain since the two women had initially demanded $1.2 million.

Read more on Gothamist

More Bailouts Using Taxpayer Money

Welcome to the Free Market system, where whatever happens, happens, until it’s the very wealthy that’s affected. I’m tired of these taxpaper bailouts for businesses who knowingly made foolish bets. The fact of the matter is, loans were given to unqualified borrowers. Those loan contracts were then sold off in the form of  securities to investors, who may or may not have known about the riskiness of the loans. When people couldn’t pay their mortgages, they defaulted on the loans. Factor in a bad economy, made worse by the job market going down, gas prices going up, and you got worthless securities. Instead of bailing these lenders out, we should be filing more criminal charges and putting people in jail. This is basically socialism for the wealthy. Even economists and conservatives think taxpayers are getting a “raw deal”. If I forget to pay my credit card bill, do I get a bailout? No, I just get charged more, and my interest rate goes up. Why should people who live within their means be forced to bail out gamblers and cheaters?

Here’s a good retrospective analysis on how we got here.

Stop the housing bailout!!