Notice how Obama is pushing the doom-and-gloom over his "stimulus" just as he did the bailout? Notice he's never held to account for that vote?
So much for change, America! It wasn't a coincidence that Obama was between the two Bushes after the lunch (with Jimmy Carter noticeably off to the side).
"Bush prepares request for rest of bailout funds" by David Cho, Washington Post | January 10, 2009
Gee, this must have been a late pick-up; it is not in my printed paper (bad news on
a Friday, folks).
WASHINGTON - Senior Bush administration officials, consulting with the Obama transition team, have prepared a plan to ask lawmakers for the second half of the $700 billion financial rescue package despite intense opposition in Congress, sources familiar with the discussions said.
Been telling you they would for weeks, and Obama is going to let them have it!
So much for change!
The initiative could create an unusual political choice for the Bush and Obama administrations. If Congress were to vote down the bill, either President Bush or Obama would have to exercise a veto to get the money.
You know, that's screwed up. Back in the fall, Congress told us they would have to APPROVE the second half of the money; now we find out they can only BLOCK the money. WTF?!!!
Obama officials would prefer that Bush exercise any veto rather than leave the new president with the task of rebuffing his fellow Democrats in Congress....
No balls Obama!
Under the emergency rescue legislation approved by Congress in October, the administration must inform lawmakers that it wants access to the second installment of $350 billion. Unless Congress passes a resolution rejecting the request within 15 days, the Treasury can begin to tap the funds.
Un-fucking-real!
If Congress turns down the request, the president could veto the resolution and then the Treasury could proceed. The money would be blocked only if Congress overrides the veto....
Talk about DICTATORSHIP!
Oh, and here's more bullshit from Barney the LIAR!!
We were told safeguards, oversight, etc. Turns out that was all bullshit, too!!!
"Frank presses for limits on bailout; Conditions include ban on bonuses, private jets" by Marcy Gordon, Associated Press | January 10, 2009
WASHINGTON - US Representative Barney Frank said yesterday he expects the House to act soon to impose conditions on any new release of the second $350 billion in federal bailout funds, with a mandate that $40 billion to $100 billion go to help struggling borrowers avoid foreclosure.
(My outrage is not printable, folks!)
The Massachusetts Democrat, who heads the House Financial Services Committee, issued an outline of his proposal to attach strings to spending the money by either the Bush administration or the incoming Obama government. It also slaps strict limits on executive compensation - both for companies receiving new federal money and those that already have - including a ban on any bonuses for the 25 highest-paid executives.
Little LATE, isn't it, Barn? I mean, we were told we HAD THOSE in place before, right?
The banning of some bonuses, and relinquishing of private jets, would be applied to all banks and other institutions receiving bailout money, as they were in the loan agreements with General Motors Corp. and Chrysler LLC last month.
The new conditions also would include a better method for the government to track whether banks are using the money to boost lending.
"We will trust but verify," Frank told reporters on Capitol Hill.
That's what it has come to here in AmeriKa, huh? Like we are monitoring Soviet stockpiles of nukes, huh? Whadda giovernment!
In addition, the Treasury Department would be required to quickly make funds available for smaller community banks, which Frank says have gotten short shrift under the federal program.
For months, Democrats in Congress have lashed out at the Bush administration's mortgage aid programs, saying the government needs to do more to help tens of thousands of home borrowers avert foreclosure. Rather than just spending more billions to inject capital into banks, they have argued, the federal rescue dollars also should support programs that modify mortgages into more affordable loans.
That's what I thought we were getting the first time, so WTF?
Frank said yesterday that President-elect Barack Obama's team had indicated to him they plan to retain Sheila Bair as chairwoman of the Federal Deposit Insurance Corp. Bair, a Bush appointee, also had criticized as insufficient the administration's mortgage programs. Frank's proposal would expand the role of the FDIC in overseeing the government programs.
Is that the CHANGE you were looking for?
Frank said his bill could be voted on by the House as soon as next week. Frank acknowledged that the proposal may not clear the Senate or be accepted by the Bush White House.
Well, WHO GIVES A FUCK! Wait a week, then!!!
Earlier yesterday, the head of a congressional panel overseeing the Treasury's $700 billion bailout program said lawmakers need to "take a very hard look" at how the banks have used the money.
"I'm shocked that we have to ask these questions," said Harvard law professor Elizabeth Warren, "but what I will say is that I'm not giving up on this. The best news is that these questions have gotten a lot of attention and a lot of people are demanding answers and when a lot of people demand answers, things start to change."Translation: the BANKS STOLE the FIRST HALF of the bailout -- after Congres assured us their was oversight and safeguards!
What a worthless bunch of cretinous pieces of crap!
--more--"
And look who else is getting their snout in the trough:
"The Hartford will buy thrift to tap into rescue program
WASHINGTON - Federal regulators will allow two large insurance companies to buy thrifts so they can qualify to receive money from the government's financial rescue program.
Un-fucking-real! Where is MY BAILOUT, huh?
The Office of Thrift Supervision, a Treasury Department agency, said yesterday it approved applications from Hartford Financial Services Group Inc. and Lincoln National Corp. to acquire existing savings and loans and become thrift holding companies.
Insurance companies that own thrifts, which are federally regulated, are eligible to apply for a piece of the $700 billion in government bailout funds. Hartford Financial, based in Hartford, has said it expects to be eligible for between $1.1 billion and $3.4 billion in rescue money.
The company previously agreed to buy Federal Trust Bank for about $10 million and to inject an undisclosed amount of new capital into the federally chartered savings bank. Federal Trust Bank, now owned by Sanford, Fla.-based Federal Trust Corp., operates 11 branches in Florida.
Philadelphia-based Lincoln National is looking to buy Newton County Loan & Savings, based in Goodland, Ind. Shannon Lapierre, a spokeswoman for The Hartford, said the company was pleased to have received the government approval.
Yeah, I'll bet they were! I'd be happy to be getting about $2 billion, too!
