Treasury Department and banks quiet about bailout money

More lack of transparency and accountability. I'd love to get $700 billion of someone else's money and not be required to disclose what I'm using it for.

http://www.istockanalyst.com/article/viewiStockNews/articleid/2921107

http://www.denverpost.com/editorials/ci_11309692

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Paulson is eager about spending the other half of the $700 billion, though.

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Good old Dennis Kucinch is asking some tough questions in Congress. I don't think they are going to be allowed to give their friends preference under Obama...I may be wrong.

 

If you had just stolen a few trillion from tax payers you'd be quiet too.

 

They're trying real hard not to call attention to themselves.

We've been robbed.


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All these bank buyouts and mergers paid for by taxpayers without oversight. Who's idea was this? We rushed to bail them out are they being upfront with the people that leant them the money and resources. Seems to be a two teired system.

 

The working people that pay taxes aren't worthy of loans, but the banks that played ponzi scams are with more than a trillion dollars of taxpayer dollars.

 

Well want people to stuff their mattresses with their wages? That's what this has accomplished. A consumer based economy not much when the consumers don't have the confidence to spend. Banks get the bailout without oversight. How long can they base their market on their bailout status alone. They hold the money today, but they will not grow unless consumers are willing to spend. And as long as the rich are bailed out without oversight confidence will erode. If I spend I want to spend on a product, not some sort of imaginary debt instrument dreamed up by Wall Street.

 

http://news.yahoo.com/s/ap/20090114/ap_on_go_pr_wh/obama_economy


"WASHINGTON – Tested before taking power, President-elect Barack Obama privately delivered a pre-inauguration veto threat to fellow Democrats on Tuesday, saying they would not deny him use of the remaining $350 billion in federal bailout funds.

Obama coupled his threat with a promise to revise elements of the original bailout program that have drawn widespread criticism, pledging that billions will go toward helping homeowners facing foreclosure. Several Democrats said his commitments, to be made in writing, would be enough to prevent an embarrassing pre-inauguration drubbing for the president-elect when the Senate votes this week."


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Let's just give out the other $350 billion of taxpayer money now and take Obama's word for it that the recipients will be held accountable later.

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A different style of bailout.

http://news.yahoo.com/s/ap/plane_crash_mystery

"HARPERSVILLE, Ala. – With his world crumbling around him, investment adviser Marcus Schrenker opted for a bailout. However, his plan to escape personal turmoil was short-lived.

In a feat reminiscent of a James Bond movie, the 38-year-old businessman and amateur daredevil pilot apparently tried to fake his death in a plane crash, secretly parachuting to the ground and speeding away on a motorcycle he had stashed away in the pine barrens of central Alabama."

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Rest of the money released.

http://news.yahoo.com/s/ap/20090115/ap_on_go_co/obama_economy

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It's all about the banks. We thought Bank America buying Merrill Lynch showed that they were ok, above the fray. Guess not it appears the American Taxpayers are actually purchasing Merrill Lynch and giving Merrill Lynch TARP funds as well. And now we are giving bailout to Bank America/ And the rich get richer. No surprise. Wonder what perks their executives are receiving.

http://www.dailykos.com/story/2008/12/30/85952/148/913/678437

Everything seems to be "fungible", execpt my paycheck and yours.

 

The government borrowed something like 10 trillion so far from the federal reserve to bail out the banks, essentially nationalizing them. But since it is nothing but bad debt that is impossible to repay, the banks are essentially owned by the federal reserve.

The fox is in the chicken coop, which has also been forclosed on by the fox himself.