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American Taxpayers Bail Out Rich Bankers In Ukraine

It never ends. Congress just fast-tracked $1 billion of American taxpayer cash to bail out Ukraine. But as usual, the money isn’t going where you think it is

Not a single needy Ukrainian will see a penny of this money, as it will be used to bail out international banks who hold Ukrainian government debt. According to the terms of the International Monetary Fund (IMF)-designed plan for Ukraine, life is about to get much more difficult for average Ukrainians. The government will freeze some wage increases, significantly raise taxes, and increase energy prices by a considerable margin.

But the bankers will get paid and the IMF will get control over the Ukrainian economy.

So let me get this straight. America is $17.5 trillion in debt and the real unemployment rate is around 13%, so clearly what the American taxpayer needs is to send a bunch of money to the wealthy bankers to whom Ukraine owes money. Yeah.

In what universe does that make sense? Well…in the universe where the governments of the world answer to the big banks.

If I had the time, I would crunch the numbers to see exactly how many days per year the average middle-class American or European worker actually has to work in order to pay wealthy bankers via taxes collected and shuttled to the big banks. My guess would be at least two full months out of every work year.

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  1. Steven

    But we’re still free right?

  2. Caleb Jones

    It always depends on your definition of “free”, doesn’t it?

  3. Onyx Jade

    The looters have spoken once again. We’re probably just a decade away from a directive 10-289.

  4. borgcollective

    1994 Budapest Memorandum. US, UK and Russia told Ukraine that if it gives up its nukes they’ll guarantee its independence and borders.

    Frankly, I think Ukraine should have kept its nukes. But in the context of giving up nuclear weapons for a false paper promise, a billion is a pittance (and yes, I know that even this amount is going to the oligarchs.)