THE BLOG

Who Is Bailing YOU Out?

01/12/2009 05:12 am ET | Updated Nov 17, 2011

Times are tough. More than 500,000 jobs were cut in November. Jobless claims hit a 26-year high. Seven million people owe more on their mortgages than their homes are currently worth. Shall I continue?

The government is bailing out financial institutions and large corporations. $152 billion to AIG. $200 billion to Fannie Mae and Freddie Mac. $45 billion to Citigroup. Shall I continue?

Americans are struggling to hang onto their jobs, pay their bills and keep their families fed, clothed and sheltered. And while they're watching Corporate America and Wall Street line up to get their fair share of taxpayer funds, it's tempting to ask: Is anyone going to help me with a cash infusion?

Isn't it?

_______

By Patricio

While on a 24-hour trip to D.C., Emmy award winning Journalist Patricio Espinoza stops by Capitol Hill as the Auto industry bail-out hearings are underway.  $34 billion they want!

The question is: Who is bailing you out?

Is your credit card company cutting you a break? Patricio talks to his credit card company, who just received $3 billion in bailout money.

What would you do with a bailout? Share your stories about the economy on Tokoni.