…or are we just too busy trying to keep roofs over our heads, and our children fed?
Just asking, just want to know…
The Monster has had so much angst for days now that I have not been able to write anything until this evening when I read an article that was reminiscent of a post I wrote back on December 12th entitled “Is The Fed Following The Lead Of The One?” concerning the secrecy behind $2 TRILLION of emergency Loans.
I know you all remember the $700 Billion (TARP) Bailout for the banks that was rushed through the Congress against the wishes of most of the American Populace by the Republican President and Democratic Congress in keeping with the wishes of one Hank Paulson. I am still wondering how one man with, what looks like, a hidden agenda ended up panicking so many politicians. In my household there is a saying “panic will get you killed”, and I am thinking that there are more Americans than just me that believe that statement on some level. I am not panicking, I am getting angrier by the minute by an article I just read, and I believe that in the distraction of The One, The Rahm, The Blago, The Cheney, The Biden and the Dipsticks in Congress, y’all might just miss this:
Where’d the bailout money go? Shhhh, it’s a secret
WASHINGTON (AP) — It’s something any bank would demand to know before handing out a loan: Where’s the money going? But 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. (emphasis mine)
If I was a Republican senator or congressman, I would be jumping on this issue like a rabid pitbull with lockjaw. Hint..hint…(Getting re-elected is easy for a Champion Of The People).
“We’ve lent some of it. We’ve not lent some of it. We’ve not given any accounting of, ‘Here’s how we’re doing it,'” said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. “We have not disclosed that to the public. We’re declining to.”
Ladies and Gentlemen, you just became the largest bank in the world and are loaning money to bankers who will not tell you how they are spending it. How does that make you feel? Do you think that is a better investment of your dollars, than say, your retirement or your child’s college education?
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.
I guess we should be calling in the marker, yes?
“We’re not providing dollar-in, dollar-out tracking,” said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars.
Some banks said they simply didn’t know where the money was going.
A bank not writing the dollar amounts in and out? Say What? Does that sound as ridiculous to you as it does to me? I am calling bullsh** on that bold faced lie.
“We manage our capital in its aggregate,” said Regions Financial Corp. spokesman Tim Deighton, who said the Birmingham, Ala.-based company is not tracking how it is spending the $3.5 billion it received as part of the financial bailout.
The answers highlight the secrecy surrounding the Troubled Assets Relief Program, which earmarked $700 billion – about the size of the Netherlands’ economy – to help rescue the financial industry. The Treasury Department has been using the money to buy stock in U.S. banks, hoping that the sudden inflow of cash will get banks to start lending money.
There has been no accounting of how banks spend that money. Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money – not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that’s happening and there are no consequences for banks who don’t comply.
So a Bailout Bill was written for the express purpose of unfreezing credit markets and no provision to make sure that happened?
“It is entirely appropriate for the American people to know how their taxpayer dollars are being spent in private industry,” said Elizabeth Warren, the top congressional watchdog overseeing the financial bailout.
But, at least for now, there’s no way for taxpayers to find that out.
Do I have your attention now?
Ladies and Gentlemen:
We Have Been Had Again By The Corrupt Congress.
What Would You Like To Do?
Who cares? As long as unions, or god forbid workers through pension funds didn’t get any, the money stays in the proper hands, right?
The people are even dumber than the elected officals. If they did their homework…we would not have many of the things we are seeing. I just had someone tell me today..she and her husband voted for obama because they liked his voice. They didn’t care for the other guys voice..didn’t remember McCain’s name. Now if that isn’t dumb…tell me what is.
I continually am amazed by the stupidity of some Americans. What is going to happen to the small percentage of individuals who actually are smarter than our politicians…expatriate? to where? We are so screwed! American Idol all the way!!!!!!!!!
In 1913 American was duped by President Woodrow Wilson! He signed into law The National Reserve Association bill. Our currency was then owned and printed by the new Federal Reserve (a private banking organization [cartel]which is non-transparent, and does not have to account to anyone! I have written an article for PumaLiberty (http://pumaliberty.wordpress.com/)which will SOON be posted there.
It is important that ALL Americans be educated about the Federal Reserve. The politicians will NOT do it (it’s not to their advantage). I will do what I can to spread the word.
Actually, Americans are smarter than their elected officials. Check out the civic literacy quiz at http://www.americancivicliteracy.org/resources/quiz.aspx
or more specifically
for the results of average citizens vs. elected officials.
What a sad, sad world. We should run for office ourselves. That was Sarah Palin’s magic. She was just one of us who gor p!ssed and decided to run for real change.
What would I like to do? I’ll tell you what I would like to do. I would like to collect a month’s worth of my bowel movements, and the bowel movements of as many people willing to provide them…drive them to Barney Frank’s house and dump the massive dump in his yard.
How’s that for a start?
But really? I’m running for President. If Shrub and Pampers can get elected on the change message, surely I can get elected on a platform of Gross National Happiness.
Surely it will calm your anger and anguish to learn that TARP
welfare recipientbeneficiary AIG is taking care of business. Thy are writing Muslim-sanctioned Taqafal insurance for your friendly neighborhood jihadists. So glad my confiscateddonated retirement fund money could help.
Oh Mary – I would be really pissed off if I hadn’t have opened a really BIG CAN OF worms that I am now trying to research and sift thru…more to come.
Wake me when it’s over!!!! It’s really so upsetting, I know, Logistics Monster!
It will take all our efforts to keep our noses above the cesspool so we can gulp in our meager breaths of air…