We have many problems including the oil spill, the monetary problems with the banks, insurance companies, and stock market, the political deadlock in Congress, the Right leaning excesses of our Supreme Courts, and what has become a nation by the corporation, of the corporation, and for the corporation. We are not in danger of becoming a socialist nation, but we are being dominated by multinational corporations who care nothing about the citizens of the United States. The idea of loyalty and patriotism and personal sacrifice to the welfare of this nation has slowly declined since World War II. The wealthiest one per cent of this nation care only about their personal wealth and will do anything to protect themselves from paying taxes by removing their money into secret and protected off shore accounts. The bailouts of the banks and insurance companies came about due to the repeal of the Glass-Steagall Act of 1933, which was passed after the 1929 stock market crash to prevent the wild speculation that occurred in the past decade and resulted in two costly stock market declines and then the meltdown of banks and insurance companies. The instrument used to bring about this meltdown was the derivative which should have been a commodity product with a margin requirement. Instead it was allowed to be sold to very wealthy individuals without a margin requirement so that the banks and insurance companies could leverage the money a thousand to one or more. This would be like buying a house for $500,000 with a down payment of $50.00. Not only was there no margin requirement, there was no transparency so even the investors had no idea of how their money was being invested. Let say you had a CD of $500,000 invested in a bank, and the bank could take your money and invest it in a derivative without a margin requirement. The bank was essentially using your money as collateral for a smoke and mirrors derivative, but the investor did not have to post a margin of 20%, 50%, 75% or at best 100%. To give you an example of how risky this kind of transaction can be, the Hunt family tried to corner the market on silver in the 1970’s, and ended up have to sell valuable properties at a discount because they could not meet the margin requirement. They lost millions of dollars partly because the Silver Commodities Board changed the margin requirements for the purchase of silver in midstream and made them retroactive in order to punish the Hunt family. So if you had purchased $100,000 of silver with a margin requirement of 50%, you would have had to pay $50,000 to own a $100,000 worth of silver. If the margin requirement was changed to 75% in midstream, you would have to pay an additional $25,000 to own the $100,000 of silver. This was what was done to the Hunt family by the Silver Commodities Board, except there were millions of dollars involved. Also, if you purchased 10,000 ounces of silver at $10.00 per ounce, with a 50% margin, and the price went down to $9.00 and ounce, you would have to add $10,000 to bring your margin back to 50%. However, the banks and insurance companies had no margins plus they could hedge their bets by placing a put or call to make money if the price went down or went up. What a sweet arrangement for the banks and insurance companies. They had your funds on deposit and were free to play with your money in any irresponsible manner they chose and when they got in trouble, they went to the treasury for a bailout of taxpayer money. If a private citizen did this kind of fraudulent transaction, they would be put in jail. So when your congress person or supreme court makes a statement or makes the corporation a person and rewards that corporation, bank, or insurance company with additional funds without any penalty, just remember our government is no longer of the people, by the people, and for the people, it is of the rich, by the rich and for the rich, or you can substitute corporation for people.