What is a bailout?
It's the government and its sponsored agencies determining that a certain company or companies cannot be allowed to file bankruptcy and/or collapse and it determines to make money (stolen, fiat money) available to those companies to avert their collapse.
AIG is one such company. They made some bad bets in the bond market and lost a ton of money. They were threatened with bankruptcy but lo and behold, the government stepped in and gave them $85 bln. http://online.wsj.com/article/SB122156561931242905.html
Now, bear in mind, the government has no money of its own. In fact the government is running huge deficits. So where do they get the money you ask? They create it, the borrow it or tax it to the people. In a nutshell, the taxpayer is paying for it.
Some companies do not get bailed out, like Lehman Bros. They failed and filed bankruptcy.
Today, the BIG 3 automakers, Ford, GM and Chrysler are all waiting hat in hand, for a lifeline from the government. How did they get to this point? Let's see, poor sales, high costs, burdensome pensions and healthcare liabilities. Again, bad bets. It's likely that they will get a bailout though, some way or another. There's no way our big 'ol government will let these 3 pillars of American Manufacturing go to bankruptcy.
Stolen money, lies galore....and where is the Church? SILENT.....
We heard the church loud and clear against abortion (or should I say killing fetuses, not Iraqi's), against homosexual marriage and rightly so, but why not against stealing money? Why not against diluting and debasing currency?
There are more verses against debasing currency than there are against abortion and homosexuality combined!
Just a sampling:
Lev 19:16: Use honest scales and honest weights, an honest ephah and an honest hin. I am the Lord your God who brought you out of Egypt.
Leviticus 19:35: Do not use dishonest standards when measuring length, weight or quantity. Use honest scales and honest weights, an honest ephah and an honest hin. I am the Lord your God who brought you out of Egypt.
Deuteronomy: 25: 13: Do not have two differing measures in your bag – one heavy, one light. 14: Do not have two differing measures in your house – one large, one small. 15: You must have accurate weights and measures, so that you may live long in the land the Lord your God is giving you. 16: For the Lord your God detests anyone who does these things, anyone who deals dishonestly.
Proverbs 11:1 The Lord abhors dishonest scales, but accurate weights are his delight.
Proverbs 16:11: Honest scales and balances are from the Lord; all the weights in the bag are of his making.
Proverbs 20:10: Differing weights and measures – the Lord detests them both.
Amos 8:4-5: Hear this, you who trample the needy and do away with the poor of the land, saying, When will the New Moon be over that we may sell grain, and the Sabbath be ended that we may market wheat? Skimping the measure, boosting the price and cheating with dishonest scales, buying the poor with silver and the needy for a pair of sandals, selling even the sweepings with the wheat.
Hosea 12:7: The merchant uses dishonest scales, he loves to defraud.
Micah 6:10-11: Am I still to forget, O wicked house, your ill-gotten treasures and the short ephah, which is accursed? 11: Shall I acquit a man with dishonest scales, with a bag of false weights?
I'm still waiting for the church to get its act together regarding these issues. I want to see someone like Rick Warren speak out fervently against these bailouts, the actions of the federal reserve and injustice of the income tax.
I'd love to see PAt Robertson say something crazy like, "The federal reserve is illegal!"
Doubt that'll happen though.