News Report (from CNSNews): “Where Did the Bailout Money Go? Banks Can’t, or Won’t, Say” After receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse to discuss it. … The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what’s the plan for the rest? None of the banks provided specific answers. … no bank provided even the most basic accounting for the federal money. … Garrett, the New Jersey congressman, said the nation might never get a clear answer on where hundreds of billions of dollars went.
Gazeta.ru reports that the situation in Russia is similar: President Vladimir Putin stated that the financial sector received five trillion rubles in aid; however, most of this money never reached the economy.
My Comment: Indeed, these are the natural actions of our egoism. The people who got their hands on this money are unable to let go of it. The solution is to immediately create a different system of all our interactions. It must start with a global education and upbringing. But for the time being, we should institute a wide-ranging social regulation, as Baal HaSulam advises in the article “The Last Generation” (meaning the last egoistic generation).
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