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Hope springs eternal in this one. I will wait to see what they actually do. I am really hoping this coutnry catches a break for once.
Yeah, because the dude's name and face hasn't been plastered all over the media for like 6 months straight at this point.
Oh Paulie, great pervayer of all those names and faces, please forgive my infraction of confusing two really creepy guys names and faces. They both suck so bad my mind boggles, especially before I have had my customary gallon of wake the fuck up green tea.
Im a flawed being.
You have never have anything of substance to offer , all you ever do is sling insults at the other side no matter why they say.
You backed bush the entire time he was screwing everything up from what I saw of you.
Guess what, us Dems wont do that and you will be insulting us later for not being able to come together. I have NO doubt of it.
Why rush to throw another $350 billion of taxpayer money at the Wall Street bandits and their political cronies who created the biggest financial mess since the Great Depression?
And why should we taxpayers be expected to double our debt exposure when the ten still-secret bailout contracts made in the first round are being kept from the public?
Why the Rush on TARP 2?
We don't have time, President-elect Barack Obama's key economic adviser, Lawrence Summers, insisted in a letter to Congress on Monday, promising that the new infusion would not be squandered as was the first installment.
But given that Summers is personally as responsible for this meltdown as anyone, why should we trust him on this?
Yes, it sounds wonderfully bipartisan that Obama is backing President Bush's request for spending the money now, short-circuiting congressional inquiry, but it was just that sort of bipartisan politics that created this nightmare.
How insulting that we must now accept Summers' assurance that the Obama administration will "move quickly to reform a weak and outdated regulatory system to better protect consumers, investors and businesses."
This from the guy who, as President Bill Clinton's treasury secretary, pushed the deregulation legislation making the subsequent financial crimes of Wall Street legal.
The "toxic derivatives" that we taxpayers are now forced to purchase from the Wall Street hustlers were deliberately shielded from all government regulation, thanks to the Commodity Futures Modernization Act, which Summers got Congress to pass in the closing days of the Clinton administration with the same urgency that he now pushes for the new Wall Street handout.
Back then, Summers was a disciple of Robert Rubin, who just last week resigned from his director's position at Citigroup, the financial conglomerate that grew to unmanageable and corrupt proportions thanks to the empowering legislation that Rubin initiated when he was Clinton's first treasury secretary. Rubin has been paid more than $115 million plus stock options at Citigroup, and despite his horrid record is a close Obama adviser.
It is one of the great swindles of US financial history that Citigroup was bailed out with $45 billion in a deal that could eventually cost taxpayers an additional $269 billion to guarantee those toxic assets that would have been illegal if not for the legislation backed by Rubin and Summers.
How did Obama allow himself to become ensnared with the very same folks who are the most culpable?
His treasury secretary nominee, Timothy Geithner, is another Rubin protegé, who, as head of the New York Fed, worked tirelessly with Rubin to concoct the Citigroup bailout. When candidate Obama gave his major economic address back on March 27, he couldn't have been clearer in condemning the deregulation that Rubin and Summers had engineered:
"Unfortunately, instead of establishing a 21st century regulatory framework, we simply dismantled the old one--aided by a legal but corrupt bargain in which campaign money all too often shaped policy and watered down oversight. In doing so, we encouraged a winner-take-all, anything-goes environment that helped foster devastating dislocations in our economy."
He was referring to the deregulation legislation that Summers hailed on the day that Clinton signed it into law as "a major step forward to the 21st century." Now Obama is relying on Summers to reverse a disaster of his own creation. It's like returning to the same surgeon who almost killed the patient in the first operation to once again cut open the body to repair the damage.
What we need is a second opinion.
Where is the openness and accountability that Obama promised?
Why not pause for a few weeks for congressional hearings on how to spend the new money?
On Monday, the Treasury Department finally agreed, and only after a subpoena threat, to turn over to Sen. Carl Levin and his Permanent Subcommittee on Investigations the ten secret contracts that it signed with top Wall Street firms in the first round of the bailout. Unfortunately, the subcommittee has no plans to make those contracts public, according to a Levin aide quoted in The New York Times.
That is outrageous. This is our money we're talking about. Why don't we get to read the fine print in what will end up being trillions of dollars in taxpayer obligations? Because we are suckers, that's why, and the folks who swindled us into this disaster can count on it.
Why the Rush on TARP 2?
When Obama spoke of "change", he was obviously talking about what's going to be left in the US Treasury after he and his band of thieves get done giving away all the dollars to the rich.
ya think? btw, why didn't you ever show up in the Hamas kidnapps aids truck and sells contents to the highest bidder thread?
My hope is they do away with the Federal Reserve System.
Socialize it like it was before JP Morgan, Rockafellor & Carnege bribed Congress & Hoover to let them manage our finances in 1913.
I only hope that the money goes to where it needs to go on the next round. From what the democrats say, it will. Stay tuned.
My hope is they do away with the Federal Reserve System.
Socialize it like it was before JP Morgan, Rockafellor & Carnege bribed Congress & Hoover to let them manage our finances in 1913.
The Robber Barons are back. Do they own the Democrats? Hell, they own the whole system, which includes the Democrats.
Is this a problem that no one can do anything about?
I'm sure the Federal Reserve/Corporate America along with the Republicans could team up to sabotage the system if the Dems tried to do too much.
We know the Federal Reserve System should be done away with. We know that Libertarians are open to it. We know Republicans are not open to it. Now lets see if the Dems are willing. If not, the GOP is still not an option.
Doesn't it occur to you that if the DEMS are going to direct it to the right people, they might be inclined to.. oh, I don't know.. TELL US WHO THE FUCK THAT IS?
Ye GADS you still believe the Dems are our friends, don't you?
There is not a snowballs chance in hell that the FED is going to go away, amigo.
You don't even have your basic facts straight. It wasn't Hoover, it was Wilson.
Sure, Garyd, sure. And all us working Americans believe that. LOL.
We are on the brink of the Second Great Republican Depression. Bailing out the banks, as onerous as that is, considering their role in the fiasco in the first place, is neccessary. However, doing it without stringent oversight, and regulations, is not. We are seeing businesses going under on a daily basis now. Foreclosures at record levels, bankruptcies, whether declared or not, the same. Many are just walking off from their homes, and other debts, not even bothering to declare bankruptcy. No jobs, no incomes after unemployment runs out. Becoming part of the underground economy.
Ah well, the Republicans and conservatives cursed FDR for decades, some still do. But he was right, many good decades untill you fellow undid the rules that were put in place because of the First Great Republican Depression. The worst part is listening to you parrot the talk on how government spending only made the Depression worse, but government spending was what ended the Depression.
Actually you are slaves to ignorance and stupidity giving you something very much in common with all together too many people in this country. Anyone things greed caused this is stupid. Greed? give me a break greed is a failure to share. Why does anyoine in his right mind bankrupt his own company knowing that:
A) the feds will land on him like a ton a bricks from 80k feet up.
B) that the goose he just killed isn't going to lay him any more golden eggs.
That isn't greed it's stupidity.
but I'm preaching to people that operate under the lunatic impression that democrats never lie when the reality is that they seldom if ever tell the truth. To be sure that is largely because they have idea wqht the hell the truth is.
And that last bit of yours is all about the Mark to Market disaster generated part that I just mentioned. Which goes back to the Clinton administration.
Had to quote you here. Dems are just as corrupt as Reps regardless what you may think.Aside from the blatant ignorance on how businesses and major corporations operate ...
You cannot lie if what you say is all you know, so no, they don't lie, which is the key difference between dems and reps. Dems are naive but at least honest, reps are smart but very dishonest. Honestly, neither are worth their weight in dung but at least with the dems you can trust they know no different and that when they screw us all over at least it's with the best of intentions.
