Obama's $26 Billion Boondoggle On Banks And You

Another program gives free cell-phones to the poor.

Problem is you're paying for it.

Look at your phone bill. If you see a fee labeled Universal Service Fund....that's the part of your bill that goes to cell-phones for the poor.

Links

Washington Footing the Cell Phone Bill for Millions of Low Income Americans - Yahoo! News

Americans Aren't Entitled to Have Free Cellphones - Yahoo! News

Of course, you dont know the extent of the service that they get, or else you wouldn't be bitching.

Also - not so sure why you'd be against this shit. The Banks all but admit to fraud by signing on, and your alternative is to let them get away with it? This is the Gov'ts alternative to long and expensive court cases. You should be thrilled but Noo000o000o.

It amounts to a shakedown.

Jessie Jackson was really good at those.

Funny you see no problem with the Obama Administration taking this tactic to a whole other level and using taxpayer funds to do it. Seems like a personal vendetta to me. Social-justice and all that who cares that nobody held a gun to anyone's head or tricked anyone into signinmg anything. If been in the lending business. Consumers rip off banks for billions and nobody goes after them. They could care less if their credit is ruined.

The Banks went along with it. Your argument is failsauce.
 
Republicans only like bailouts when it helps those already rich.

When it comes to the middle class, their policy is, "Let them die".

The Republicans will be satisfied when the people who used to be the middle class are earning the same as a day laborer in Maylasia. That way the greedy pricks at the top will be able to enjoy a larger bottom line profit. That's what has changed anyway.

In the late 40's and early 50's a corporate executive earned 12-15 times what a carpenter or plumber made. By the 1970's that multiplier had increased to 50 times as much. In 2010 the average CEO made 550 times what an ordinary working American earned. Does anybody doubt that they'll never be satisfied

3-27-08tax2-f2.jpg

Repeating BS is still BS low life.
 
We could spend billions, if not trillions, of dollars MORE if we were to try and investigate each and every incident of fraudulent foreclosures.
This gives the banks an opportunity to make things right with their lenders.

Now, personally, I'd much rather see the money from the fines the banks would have to pay go back into our treasury. But is the expense of the investigations worth it?

And to the cell-phone deal.....
We were already funding LifeLine for land line phones for the poor.
Everyone is switching to cell service, though, and cellphone coverage is cheaper to provide than land-line service, so.....
Yea, there's going to be some fraud in any "free" service".
It's not like these are iPhones with unlimited everything plans.
Pretty hard to get called in for a job interview if you don't have a phone number to put in the blank

:cool:
 
Of course, you dont know the extent of the service that they get, or else you wouldn't be bitching.

Also - not so sure why you'd be against this shit. The Banks all but admit to fraud by signing on, and your alternative is to let them get away with it? This is the Gov'ts alternative to long and expensive court cases. You should be thrilled but Noo000o000o.

It amounts to a shakedown.

Jessie Jackson was really good at those.

Funny you see no problem with the Obama Administration taking this tactic to a whole other level and using taxpayer funds to do it. Seems like a personal vendetta to me. Social-justice and all that who cares that nobody held a gun to anyone's head or tricked anyone into signinmg anything. If been in the lending business. Consumers rip off banks for billions and nobody goes after them. They could care less if their credit is ruined.

The Banks went along with it. Your argument is failsauce.

I fail to see how that makes it right.
 
It amounts to a shakedown.

Jessie Jackson was really good at those.

Funny you see no problem with the Obama Administration taking this tactic to a whole other level and using taxpayer funds to do it. Seems like a personal vendetta to me. Social-justice and all that who cares that nobody held a gun to anyone's head or tricked anyone into signinmg anything. If been in the lending business. Consumers rip off banks for billions and nobody goes after them. They could care less if their credit is ruined.

The Banks went along with it. Your argument is failsauce.

I fail to see how that makes it right.

I know you do. Not shocking. You're a hack.
 
We could spend billions, if not trillions, of dollars MORE if we were to try and investigate each and every incident of fraudulent foreclosures.
This gives the banks an opportunity to make things right with their lenders.

Now, personally, I'd much rather see the money from the fines the banks would have to pay go back into our treasury. But is the expense of the investigations worth it?

And to the cell-phone deal.....
We were already funding LifeLine for land line phones for the poor.
Everyone is switching to cell service, though, and cellphone coverage is cheaper to provide than land-line service, so.....
Yea, there's going to be some fraud in any "free" service".
It's not like these are iPhones with unlimited everything plans.
Pretty hard to get called in for a job interview if you don't have a phone number to put in the blank

:cool:

So we're supposed to have the right to life, liberty, and AT&T Mobile service.

I guess I'm a racist bastard for saying forcing us to pay for this without our knowledge is wrong.

As for the shakedown, Obama is simply showing how corrupt he can be. It explains why he's been attacking banks. To justify it all. Fact is if not for the expense banks would fight him in court and possibly win. The forclosure log-jam after all, is being caused by lawyers working with the Administration or simply taking advantage of an opportunity.

Obama is good at causing problems and then acting like he's the solution.
 
We could spend billions, if not trillions, of dollars MORE if we were to try and investigate each and every incident of fraudulent foreclosures.
This gives the banks an opportunity to make things right with their lenders.

Now, personally, I'd much rather see the money from the fines the banks would have to pay go back into our treasury. But is the expense of the investigations worth it?

And to the cell-phone deal.....
We were already funding LifeLine for land line phones for the poor.
Everyone is switching to cell service, though, and cellphone coverage is cheaper to provide than land-line service, so.....
Yea, there's going to be some fraud in any "free" service".
It's not like these are iPhones with unlimited everything plans.
Pretty hard to get called in for a job interview if you don't have a phone number to put in the blank

:cool:

So we're supposed to have the right to life, liberty, and AT&T Mobile service.

I guess I'm a racist bastard for saying forcing us to pay for this without our knowledge is wrong.

As for the shakedown, Obama is simply showing how corrupt he can be. It explains why he's been attacking banks. To justify it all. Fact is if not for the expense banks would fight him in court and possibly win. The forclosure log-jam after all, is being caused by lawyers working with the Administration or simply taking advantage of an opportunity.

Obama is good at causing problems and then acting like he's the solution.

We don't have a right to Food Stamps, either, but.....
:eusa_shhh:
 
Of course, you dont know the extent of the service that they get, or else you wouldn't be bitching.

Also - not so sure why you'd be against this shit. The Banks all but admit to fraud by signing on, and your alternative is to let them get away with it? This is the Gov'ts alternative to long and expensive court cases. You should be thrilled but Noo000o000o.

It amounts to a shakedown.

Jessie Jackson was really good at those.

Funny you see no problem with the Obama Administration taking this tactic to a whole other level and using taxpayer funds to do it. Seems like a personal vendetta to me. Social-justice and all that who cares that nobody held a gun to anyone's head or tricked anyone into signinmg anything. If been in the lending business. Consumers rip off banks for billions and nobody goes after them. They could care less if their credit is ruined.

The Banks went along with it. Your argument is failsauce.

The banks went along with it because individual states want to hammer them even more. California and at least one other state i can't think of right this second, did want to take this deal.


P.S. Why no Fannie and Freddie in this "deal" ? .. :eusa_whistle:
 
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Granny says good - now dey can send her dat check fer dat 2nd stimulus...
:eusa_shifty:
US to make profit from bailouts, Treasury says
15 April 2012 - Treasury secretary Timothy Geithner believes that the US taxpayer will make a profit
The US will make a profit from bailing out the nation's banks and carmakers at the height of the financial crisis, the Treasury Department has said. The bank bailouts may result in a return of $2bn (£1.3bn), the Treasury said in its latest projections for the government's response to the crisis. And the recovering auto industry has added 230,000 jobs as a result. The recession was the worst since the Great Depression and $19.2tn of wealth was wiped out, it said.

"Although the economy is getting stronger, we have a long way to go to fully repair the damage the crisis has left behind," the Treasury said. "We are still living with the broader economic cost of the crisis, which can be seen in high unemployment." The vast majority of the projected returns - more than $179bn - come from the Federal Reserve's huge investments and loans to banks. The Fed and the Treasury together invested $182bn just to save insurance giant AIG.

Tarp

In terms of the bank bailouts, the much-maligned Troubled Asset Relief Program (Tarp) that provided money to more than 700 banks has already realised a $19bn profit. The bailout of carmakers General Motors and and Chrysler - which was also part of Tarp, cost $22bn, the Treasury said.

"But the cost of a disorderly liquidation to families and businesses across the country that rely on the auto industry would have been far higher," it added. The US Treasury still owns more than 30% of GM's ordinary shares. In the end, the Treasury expects to make $22bn from Tarp's bank bailouts and $2bn on Tarp's loans to restart the credit markets, offsetting the auto bailouts.

BBC News - US to make profit from bailouts, Treasury says
 

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