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Post by andrew on Jan 27, 2009 13:32:13 GMT -5
so i was surfing through the radio channels today when i stopped on the wingnut channel just to see how infuriated the current host would be in lieu of obama presiding over the country. i came across this (paraphrased) tidbit from limbaugh:
this grilling of the bank CEOs of where exactly they're spending the TARP money is just ridiculous. since when does the government run your business? what about the constitution. and the bill of rights?
um, i think the government has some interest when billions of dollars were invested in the banks. also, he's really mentioning the constitution and bill of rights? this is the second time i've heard a wingnut bring those up in the past week. as if the last eight years didn't completely shred those with things like the patriot act, illegal search and seizure, torture, etc.
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Post by bingosherlock on Jan 27, 2009 14:58:41 GMT -5
I figure I should just go on record as agreeing with you again. I really wasn't for the bailouts by any definition of the word, but if they're going to get said bailouts, that money damn well better be accounted for.
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hird82
Pizza Party Master
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Post by hird82 on Jan 27, 2009 15:08:59 GMT -5
what's also funny is that many types of media have asked aforementioned banks what they had done with their money and not a single fucking one gave an answer, they just ignored the question. Nobody could explain what they were doing with the bailout money .
side note, when i saw this article and interview it was maybe like 3 weeks ago
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Post by ohidontthinkso on Jan 27, 2009 16:06:02 GMT -5
Citibank is getting a new private jet to the tune of 50 million dollars.
I think somebody needs to ask what the fuck these assholes are doing with our money! Especially since there are quite a few of them with their hands out again asking for billions more dollars.
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Post by andrew on Jan 27, 2009 16:35:37 GMT -5
what's also funny is that many types of media have asked aforementioned banks what they had done with their money and not a single fucking one gave an answer, they just ignored the question. Nobody could explain what they were doing with the bailout money . side note, when i saw this article and interview it was maybe like 3 weeks ago yeah i saw this article too john. what a fucking joke. i dont know whats the bigger joke, the TARP money or the wingnuts bringing up shredding the constitution. |
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Post by Flashy Ross on Jan 27, 2009 16:39:11 GMT -5
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Post by iatls on Jan 27, 2009 18:56:03 GMT -5
Citibank is getting a new private jet to the tune of 50 million dollars. I think somebody needs to ask what the fuck these assholes are doing with our money! Especially since there are quite a few of them with their hands out again asking for billions more dollars. at least it's a nice plane... "The plane, the Dassault Falcon 7X, is a luxurious jet with a range of 5,950 nautical miles (meaning it can fly from New York to all of Europe and South America, as far east as Riyadh, and as far west as Honolulu or Petropavlovsk, Russia). The Post reports it has 'plush interior with leather seats, sofas and a customizable entertainment center.'" i would hate to think our tax money was buying a substandard model. |
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Post by eskimusic on Jan 28, 2009 11:30:41 GMT -5
Our congress worte the bailout bill giving paulsen complete control over who got the money and provided absolutely no provisions for accountability. Therefore due to the bill that they wrote and voted for they have no right to ask where the money is going. They shit the bed so we all get to lie in it. As for Citibank buying a new private jet I think that's probably one of the most positive thing that I've heard being done with the money.... that's 50 million dollars going back into the private sector. If I were a bank I don't know that I'd be lending the money, as long as the government feels the need to keep falsely proping up insolvent companies how are they to know what is a good investment and what is not. I think the bail outs were a bad idea they should have let the markets hit bottom so we know where were we stand and how to get out of it.
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Post by bingosherlock on Jan 28, 2009 11:59:49 GMT -5
I love you, Chuck.
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Post by andrew on Jan 28, 2009 12:51:51 GMT -5
Our congress worte the bailout bill giving paulsen complete control over who got the money and provided absolutely no provisions for accountability. Therefore due to the bill that they wrote and voted for they have no right to ask where the money is going. They shit the bed so we all get to lie in it. As for Citibank buying a new private jet I think that's probably one of the most positive thing that I've heard being done with the money.... that's 50 million dollars going back into the private sector. If I were a bank I don't know that I'd be lending the money, as long as the government feels the need to keep falsely proping up insolvent companies how are they to know what is a good investment and what is not. I think the bail outs were a bad idea they should have let the markets hit bottom so we know where were we stand and how to get out of it. what's done is done. like bingo, i was against the bailouts, but they're done now. i don't care what was originally passed, amend it now to require more oversight. the point is the money was given to the banks to lend so that the credit mark would become somewhat unfrozen. clearly they failed during the first pass to legitimatize what was merely an assertion. now they need to correct that. storing the money away to make their balance sheets look better isn't helping the problem, nor is buying a plane here or there. the frozen credit market is one of the main problems. |
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Post by andrew on Jan 28, 2009 12:55:02 GMT -5
and as far as where we stand and how to get out of it, end convoluted financial practices with things like derivatives, nebulous insuring of debt, etc. responsible oversight needs to happen. even mr. laissez-fair himself greenspan said he was partially wrong about free market ideology.
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hird82
Pizza Party Master
Posts: 615
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Post by hird82 on Jan 28, 2009 16:06:51 GMT -5
Our congress worte the bailout bill giving paulsen complete control over who got the money and provided absolutely no provisions for accountability. Therefore due to the bill that they wrote and voted for they have no right to ask where the money is going. They shit the bed so we all get to lie in it. As for Citibank buying a new private jet I think that's probably one of the most positive thing that I've heard being done with the money.... that's 50 million dollars going back into the private sector. If I were a bank I don't know that I'd be lending the money, as long as the government feels the need to keep falsely proping up insolvent companies how are they to know what is a good investment and what is not. I think the bail outs were a bad idea they should have let the markets hit bottom so we know where were we stand and how to get out of it. what's done is done. like bingo, i was against the bailouts, but they're done now. i don't care what was originally passed, amend it now to require more oversight. the point is the money was given to the banks to lend so that the credit mark would become somewhat unfrozen. clearly they failed during the first pass to legitimatize what was merely an assertion. now they need to correct that. storing the money away to make their balance sheets look better isn't helping the problem, nor is buying a plane here or there. the frozen credit market is one of the main problems. i agree with the fact that it in fact needs to be amended so that way there is some oversight, it doesn't need to be this giant committee with tons of power but to be honest bailing someone out with tax payer dollars and money borrowed from china needs to be accounted for as to what they are using it for. Andrew was right about the "frozen credit market" and that needs to be remedied asap as well as lending this money (from the banks) to smaller corporations who are now bankrupt, if in fact those small companies have plans of action, which also should be reviewed (which i know sounds impossible), i don't want tons of government oversight but a substantial amount would help this out a lot. I disagreed with the way to go about doing this but since its done, its done and we must now try to put it into more of an action and make the absolute best of what happens with the money. Also i think that people should heed the warnings of all this and learn a lesson on how much trouble they can get into when they don't live within their means. |
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