It truly hurts the soul to come here everyday and see how the American people were looted by the "bailout" bill.
"Treasury may extend aid for financial firms beyond banks" by Bloomberg News | November 5, 2008
NEW YORK - The US Treasury may take stakes in nonbank financial companies after allocating $250 billion for bank investments, two people briefed on the matter said. Companies that could be helped include General Electric Co.'s GE Capital unit and CIT Group Inc., they said.
The move would expand the $700 billion rescue package, which has up to now focused on cash infusions for banks. It also could slow Treasury's effort to purchase assets that clog companies' balance sheets. The department may revise that plan and abandon the use of reverse auctions to value the troubled securities, the official said.
Where is the HOMEOWNER in all this? Isn't that OSTENSIBLY what the bill was for?
Extending the bailout to finance companies may increase lobbying by other industries seeking federal funds. Auto companies and their finance arms, in particular, have pressed Paulson for a capital injection, though he has thus far refused.
Just wait until no one is loooking then (pffffft), he'll slip 'em something. When NO ONE is WATCHING!
The Treasury is also looking at whether some insurers could be eligible for federal funds. Taking stakes in nonbank financial firms will likely delay Treasury's efforts to buy toxic securities. The department has yet to hire private firms to oversee those purchases.
That's you and the SHIT MORTGAGES you were sold by... BANKERS like Hanker the Wanker here, 'murka!!!!
Paulson originally sold the bailout to Congress as a program for spurring lending by taking the troubled assets off banks' books. Within a week of the law's Oct. 3 passage, the Treasury shifted its emphasis to the bank equity purchases.
What, after they worked so hard to cut credit ON PURPOSE!!? And the shift of emphasis, well, that's what the American people were worried about and why we opposed it!!
In running the so-called Troubled Asset Relief Program, Paulson has sought to provide assistance to firms that lend to a broad array of businesses and consumers with the hopes the money unfreezes the credit markets. Nonbank finance companies have argued that the government stakes in banks are putting them at a competitive disadvantage. --more--"
Also see: U.S. Banks Driving Credit Crunch ON PURPOSE!!
Bush Administration Created Credit Crunch Crisis
"Factory orders fall in September; 2.5% drop reflects waning demand for petroleum, durables" by Bloomberg News | November 5, 2008
WASHINGTON - A record share of US banks has tightened terms for business loans, a Federal Reserve report showed Monday, making it harder for companies to finance capital spending. Economies in Europe and Japan are also now contracting, making it likely the record American export boom will fade. --more--"
I thought they were supposed to be LOANING MONEY?!
What did that $700 BILLION go FOR, anyway?
See: America Never Had a Chance
Where you ever sold a bill of goods, Amurka! Hope you like eating shit!!!!
