Taking Care of Their Friend$$$$$$$$$

[rayboyusmc]

Over 350 billion dollars of the bail out has been given to various banking companies who are not using it to make loans but are hoarding it or using it to buy up other banks. They just appointed and Inspector General now that half of the money is gone.

The Republican Congress blocked an auto loan in the lame dick session.

Why do we give the money to the money lenders who totally screwed up their business but not give it (with strings attached: i.e. paid back and fire current CEOs, and more) to the Auto industry that will layoff 3 million people if it goes belly up.

Because the banks are the Bush friends as in Paulson former CEO of Goldman Sacks of Money.

Along the way, the Bush administration has committed $290 billion of the $700 billion rescue package.

Yet for all this activity, no formal action has been taken to fill the independent oversight posts established by Congress when it approved the bailout to prevent corruption and government waste. Nor has the first monitoring report required by lawmakers been completed, though the initial deadline has passed. They don't care, they will be gone with the dough.

"It's a mess," said Eric M. Thorson, the Treasury Department's inspector general, who has been working to oversee the bailout program until the newly created position of special inspector general is filled. "I don't think anyone understands right now how we're going to do proper oversight of this thing."

This is just like Iraq and all the money that just went away there. 9 Billion on pallets. Someone who knows someone has that money in their account right now, while the average American may be laid off, losing his/her home and healthcare.

Long life the Corporations for they are the Saviors and Heart of the Country : NOT!!!!!!!!!!!!!!!!!1


Bailout Lacks Oversight Despite Billions Pledged - washingtonpost.com

 

[DavidS]

Uh, Congress is controlled by Democrats, Ray.

 

[Kevin_Kennedy]

We should not be bailing out anybody, it's unconstitutional and makes our economy even worse in the long run.

 

[CSM]

Uh, Congress is controlled by Democrats, Ray.

An inconvenient truth, to be sure!

Why anyone thought giving ANY amount of money to the bunch that got the situation to where it is in the first place is beyond me...never mind doing so without any kind of oversight. Now we are supposed to give a bailout to every entity that comes along with a sob story under the same conditions...no oversight, no plan for improvement, and no guarantees that it wont happen again. It's all bullshit. The CONGRESS controls the purse strings and it is the CONGRESS that needs to manage the situation. They (as a collective representative body of the citizens of this country) MUST do what is right for this country.

 

[rayboyusmc]

WASHINGTON (AFP) — Hopes for a swift bailout of the US auto industry appeared to stall Thursday after a top Democratic senator said Republicans looked set to scupper the proposal until Barack Obama is president.
Top Democrats including president-elect Obama urged an accelerated bailout of the once-mighty US industry amid warnings from bosses that the sector, hammered by mounting losses and plunging sales, could collapse.

But Chris Dodd, chairman of the Senate Banking Committee, said he did not believe a plan could pass before Obama takes office in January.

"I don't know of a single Republican willing to support (it)," Dodd told reporters.

"I want to be careful (not) to bring up a proposition that might fail ... under an Obama administration, there is a greater willingness to deal with the issue."

The president-elect urged President George W. Bush to support immediate aid for the ailing automobile industry during their private meeting in Washington on Monday, but the White House is still cool towards the idea.

Any auto bailout bill would require 60 votes in the Senate to overcome Republican obstruction tactics. The current chamber has 49 Republicans, 49 Democrats and two independents who usually caucus with the Democrats.

Next year, Democrats will have a larger majority after making gains in last week's election.

Dodd's remarks came as the top Republican in the House of Representatives John Boehner rejected calls for a new financial bailout of the car industry.

Boehner is a Democrat?

 

[CSM]

Boehner is a Democrat?

Boehner controls the entire Congress?

 

[editec]

The disease effecting the body politic is not Republicans or Democratics, it's the insiders who dominate both parties.

Who are those insiders?

They're the people some of you feel so sorry for because they have to pay taxes.

 

[rayboyusmc]

Boehner controls the entire Congress?

They can still stop progress at this point. I am not saying the Dems aren't a bunch of wussies for letting them do this without publicizing it more, but the Repubs have been using the filly to hold up dem actions to make them look bad.

Screw the country over party.

 

[Jeepers]

Uh, Congress is controlled by Democrats, Ray.

Its a republican plan Dave...

 

[CSM]

They can still stop progress at this point. I am not saying the Dems aren't a bunch of wussies for letting them do this without publicizing it more, but the Repubs have been using the filly to hold up dem actions to make them look bad.

Screw the country over party.

The majority in Congress is held by the Dems ...

Of course the Dems would NEVER use the Fillibuster to stop passage of a bill.

They are ALL (Congress collectively) responsible!

 

[Jeepers]

The majority in Congress is held by the Dems ...

Of course the Dems would NEVER use the Fillibuster to stop passage of a bill.

They are ALL (Congress collectively) responsible!

Dems put in safe guards to the plan. Apparently they didnt go far enough. Bernanke and Paulson (republicans) still have way too much power...

 

[CSM]

Dems put in safe guards to the plan. Apparently they didnt go far enough. Bernanke and Paulson (republicans) still have way too much power...

Ya think?????

 

[DavidS]

Its a republican plan Dave...

What's a Republican plan?

 

[DavidS]

Congress must not have enough Democratic votes to pass the bill. How bad off are you when DEMOCRATS don't want to pass a bill that would help unions? Jesus.

 

[Jeepers]

What's a Republican plan?

Thats hillarious.. you should take that act on the road...