Posts tagged as:

TARP

Timothy Geithner Grilled and Drilled by Congress

November 20, 2009

Timothy Geithner, Secretary of the Treasury, was grilled and drilled by Congress reflecting the frustration of its members over the state of the economy.  In another country I feel most certain that Geithner could have been physically attacked.  It seems that everyone has his knickers in a twist.
Congressional members bombarded Geithner with hard luck stories [...]

Read the full article →

How Bad is the Economic Crisis?

March 2, 2009

Perhaps, no one really knows how bad the economic condition of the nation is.  Or, perhaps “they” just aren’t saying.
… in an interview on the NBC “Today” show, Mr. Liddy said A.I.G. “was in much worse condition than I thought.” In addition, he said: “The economy is worse. The financial markets are worse.”
Words like the [...]

Read the full article →

AIG Gets More Money!

March 1, 2009

Still too big to fail, AIG is expected to report a $60,000,000,000.00 loss tomorrow morning. So, of course we know that Uncle Sam is on the white horse riding to rescue the Damn-Fools in distress.  We stand beside the notion that if it is too big to fail, it is too big. 
Giving more money to [...]

Read the full article →

Bailout Bonuses Angers America

January 29, 2009

Wall Street needs a reality check, not another bonus check.  It has often been said, “The wife is always the last to know.”  In this case Wall Street seems to be among the last to get the message.  Wall Street is not king… not any more.  The American taxpayer who has never set foot on [...]

Read the full article →

Where Did the TARP Money Go?

January 28, 2009

Below are links to the tranche reports on the TARP funds.  If you have been wondering where our tax dollars have gone…

Tranche Report 11/03/08
Appendix to 11/03/08
Tranche Report 11/21/08
Appendix to 11/21/08
Tranche Report 12/02/08
Appendix to 12/02/08
Tranche Report 01/08/09
Appendix to 01/08/09

The Appendix reports give a break down of the institutions who are recipients of TARP funds and the [...]

Read the full article →

Political Influence and the TARP Program

January 22, 2009

If anyone thinks the TARP program under Henry Paulson’s guidance was not steered by political influence, think again.
According to the Wall Street Journal politicians in Washington, some of the same ones who have been on a Paulson TARP bash recently, received what some may call special treatment for banks in their districts.
…in December OneUnited got a [...]

Read the full article →

The Difference Between Bank of America and Americans

January 14, 2009

Remember when the so-called very solvent Bank of America decided to purchase Merrill Lynch?  Everyone applauded and was cheerful, at least in the short run… the very short run.  Remember when Americans decided to buy houses they thought they could afford and everyone was happy in the short run? 
Both Bank of America and thousands of [...]

Read the full article →

Bush May Pass the Buck, All $350 Billion

December 19, 2008

The Bush administration has said that it may not go to Congress to ask for the remaining $350 Billion that Paulson wants.
The White House said it won’t necessarily ask Congress to release the second half of the $700 billion Trouble Asset Relief Program, suggesting that the decision will fall to President-elect Barack Obama.

However, Paulson wants [...]

Read the full article →

Is It Time to Put a Tarp Over TARP?

December 5, 2008

Anyone who believes the current economic bailout, screw the notion of “rescue”, is working must be living in another world. Before going off again on Paulson and his pals, I must say that no one has any idea where our economy would be if Paulson, Bernanke, and Kash’n’Kari had not done what they have [...]

Read the full article →

Henry Paulson Rolls Up TARP, Rolls Out Red Carpet

November 12, 2008

Henry Paulson has more magic up his sleeve than Harry Houdini did. Just think about the “changes” in plans we have seen since the September melt-down. Paulson’s new plan consists of rolling up the TARP and rolling out the red carpet to his banking buds.
Can we all remember Ol’ Hank pleading with America [...]

Read the full article →