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US lawmakers to insist on rescue fund accountability (Feinstein, Snowe, Pelosi)
12/26/08

Posted on 12/25/2008 10:35:21 AM PST by Libloather

Link only - US lawmakers to insist on rescue fund accountability


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: 110th; bailout; feinstein; loot; meltdown; pelosi; snowe
The legislation would also prohibit them from spending taxpayer dollars on lobbying or political contributions.

Will that be retroactive?

1 posted on 12/25/2008 10:35:21 AM PST by Libloather
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To: Libloather

If Snowe is backing this, there is something in it for her! Everybody, watch your backs!


2 posted on 12/25/2008 10:39:16 AM PST by WellyP
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To: Libloather
So the democrats - seeing a political opportunity in the chaos that that THEY created - that THEY psyched (somehow!) unto Bush's administration - can now claim to be for accountability and for more regulation (control!) of the basic American industries.
3 posted on 12/25/2008 10:39:37 AM PST by Robert A. Cook, PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
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To: Libloather
Hm. Isn't this all something the Dem leadership should have seen to, BEFORE they authorized the funds?

They really are simpletons...and in WAY over their heads.

4 posted on 12/25/2008 10:40:29 AM PST by Psycho_Bunny (ALSO SPRACH ZEROTHUSTRA)
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To: Libloather
US lawmakers to insist on rescue fund accountability

Correction: US lawmakers to insist on barn doors being closed now that horses have escaped
5 posted on 12/25/2008 10:44:24 AM PST by LostInBayport (The press and the Barackolytes view you as a miracle worker...so turn the economy into wine, Barry.)
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To: Robert A. Cook, PE
of the basic American industries.

And what do they produce, these basic industries????..

6 posted on 12/25/2008 10:48:44 AM PST by org.whodat (Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
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To: Libloather

If the money is wasted, then we should fire the Congress folk who voted for it. How is that for accountability?


7 posted on 12/25/2008 10:51:14 AM PST by Brilliant
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To: LostInBayport

What a joke this is. The people that caused the problem now want those who followed their idiotic mandates to be subject to their incompetent review. What a joke.


8 posted on 12/25/2008 10:51:50 AM PST by mulligan (A)
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To: Libloather
Headline translation; What's in it for us? And the GREED GOES ON. Just like Up Chuck Shummer on the initial Dubai taking over the US ports deal, he was against it because there was nothing for him and his ilk in the deal.
9 posted on 12/25/2008 10:57:18 AM PST by drypowder
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To: Libloather

And who’s gonna do the math? Pelosi couldn’t pass a middle school arithmetic exam.


10 posted on 12/25/2008 10:59:35 AM PST by Da Coyote
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To: Libloather

Even a broken clock is right twice a day.

This certainly isn’t a bad idea. While the Republicans are beating the $17 billion bailout to the automakers to death, they seem to care very little about the banking bailout, which is AT LEAST 50 times as large.

Why is that?

True, I basically disagree with these women on virtually every other topic, and they may have ulterior motives, but accountability of the banking bailout NEEDS TO OCCUR!

So let’s see what they come up with.


11 posted on 12/25/2008 11:02:43 AM PST by Joann37
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To: Libloather

“u.s. lawmakers to insist on rescue fund accountability.”

yeah, right.


12 posted on 12/25/2008 11:02:52 AM PST by ripley
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To: Psycho_Bunny

“they really are simpletons...and in way over their heads.”

respectfully disagree.

they know exactly what they’re doing and they have the finest of revolutionaries whispering in their ears.

IMHO


13 posted on 12/25/2008 11:05:02 AM PST by ripley
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To: Libloather

I finally agree with them.


14 posted on 12/25/2008 11:05:51 AM PST by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Libloather
The problem with instituting accounting practices for this money is that it will give the citizen a false sense of security.  It will be easy for a bank to say and legitimately show that it spent bail out money on all the right things.  What will not show is that they spent other money on huge bonus programs for example.  Money they couldn't afford to spend without the bail out. Money is fungible.
15 posted on 12/25/2008 11:06:14 AM PST by HawaiianGecko (Online internet polls are foolish: Winston Churchill, 1939)
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To: Libloather

Snowe belongs with Feinswine and Pelousi.


16 posted on 12/25/2008 11:07:45 AM PST by IbJensen (MERRY CHRISTMAS EVERYONE! Next year: famine and communism!)
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To: Libloather

Ain’t gonna happen.

They already gave the farm to Paulson and basically said he can do whatever he wants and doesn’t have to splain nuthin!


17 posted on 12/25/2008 11:08:46 AM PST by djf (< Tagline closed until further notice. Awaiting bailout >)
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To: Joann37
"While the Republicans are beating the $17 billion bailout to the automakers to death, they seem to care very little about the banking bailout, which is AT LEAST 50 times as large. Why is that?"

Banks are losing citizen's money. GM & Ford are not.

18 posted on 12/25/2008 11:10:10 AM PST by HawaiianGecko (Online internet polls are foolish: Winston Churchill, 1939)
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To: HawaiianGecko

If they come up with another SarBox type law, Obama’s 3 million new jobs can all be auditors.


19 posted on 12/25/2008 11:11:12 AM PST by doosee
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To: Robert A. Cook, PE

And you think it is just ok that Bush and Paulson march off with this loot without accounting for it? Sure I am skeptical of democrats, but I am amazed that so called conservatives are not appalled at the stones of the pubbies who are running this scam.


20 posted on 12/25/2008 11:13:02 AM PST by AndyJackson
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To: Libloather

the left has its own, fluid lexicon. “Accountability,” in this case, means something more like “accessibility,” I suspect.


21 posted on 12/25/2008 11:13:48 AM PST by the invisib1e hand (appeasement is collaboration.)
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To: HawaiianGecko
Banks are losing citizen's money. GM & Ford are not.

Yet.

22 posted on 12/25/2008 11:14:18 AM PST by the invisib1e hand (appeasement is collaboration.)
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To: HawaiianGecko
Banks are losing citizen's money.

And that makes it ok for the pubbies to stonewall on how the loot is being spent.

23 posted on 12/25/2008 11:14:28 AM PST by AndyJackson
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Comment #24 Removed by Moderator

To: neverdem; AndyJackson

No, no.

Bush was dead stupid to begin promoting these bailouts when HE panicked (was panicked ?) into DEMANDING immediate action in mid-September, early October, mid-October ....

Bush is at fault - But I simply can’t tell you WHO pushed him into “Panicruptcy”

THAT person (the one who convinced Bush in Sept and Oct that we needed immediate action (just before the election) to “bailout Wall Street”) is the group or person at fault for “losing” the election to Obama.


25 posted on 12/25/2008 11:16:30 AM PST by Robert A. Cook, PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
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To: doosee
"If they come up with another SarBox type law, Obama’s 3 million new jobs can all be auditors."

Yeah, I agree wholeheartedly with that.  I can speak anecdotally for a very large corporation that has studied the effects of SOX on their IT department and it is absolutely astounding.  Projects that may take only a month for a local contractor to perform ten years ago now have to be off shored to New Deli because SOX blows it into an eight month contract and it's no longer economically viable to keep the project in house.

26 posted on 12/25/2008 11:17:59 AM PST by HawaiianGecko (Online internet polls are foolish: Winston Churchill, 1939)
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To: Libloather

I ‘d like to know where the money is going myself.

I actually mean it.


27 posted on 12/25/2008 11:18:38 AM PST by wolfcreek (I see miles and miles of Texas....let's keep it that way.)
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To: AndyJackson
"And that makes it ok for the pubbies to stonewall on how the loot is being spent."  My comment doesn't say that.  How the money is being spent and why it is being spent are simply not the same thing.
28 posted on 12/25/2008 11:25:07 AM PST by HawaiianGecko (Online internet polls are foolish: Winston Churchill, 1939)
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To: HawaiianGecko
How the money is being spent and why it is being spent are simply not the same thing.

How it is being spent is by the dump truck load. Why it is being spent is the same old story, to purchase more votes.

29 posted on 12/25/2008 11:27:17 AM PST by going hot (Happiness is a momma deuce)
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To: HawaiianGecko
How the money is being spent and why it is being spent are simply not the same thing.

Oh but I disagree. If I don't know the how, I certainly cannot concur in the why, whatever excuses Paulson and his friends offer up.

30 posted on 12/25/2008 11:27:32 AM PST by AndyJackson
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To: Libloather

Keep Your Damn Monkeys

http://philoculture.blogspot.com/2008/10/keep-your-damn-monkeys.html


31 posted on 12/25/2008 11:28:15 AM PST by Vn_survivor_67-68 (CALL CONGRESSCRITTERS TOLL-FREE @ 1-800-965-4701)
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To: Libloather

Central planning, command economy, Marx and Lenin would be proud.


32 posted on 12/25/2008 11:33:46 AM PST by Navy Patriot (John McCain, the Manchurian Candidate, makes a Marxist President.)
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To: Libloather

DON’T Trust until you can VERIFY!


33 posted on 12/25/2008 11:49:46 AM PST by unixfox (The 13th Amendment Abolished Slavery, The 16th Amendment Reinstated It !)
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To: Robert A. Cook, PE
"THAT person (the one who convinced Bush in Sept and Oct that we needed immediate action (just before the election) to “bailout Wall Street”) is the group or person at fault for “losing” the election to Obama."

I certainly have to agree with that.  I also don't know who that person is, and it very well might have been Bush himself.  The timing was horrible and I feel it has more to do with not going down as another Hoover than anything else.  What amazes me in retrospect, and not because of any profound financial ability of my own, is that anyone actually thought this bail out was going to work. 

We have spent a huge amount of money with no noticeable effect and it appears we are going to spend yet another sizeable chunk with no real documentation or proof that it will have any more effect than the last round.

From everything I have read recently, no government program has ever had any positive effect in reversing, halting or even slowing a recession.  With Bernanke being a student of The Great Depression, I'm surprised he actually boarded this boat.

34 posted on 12/25/2008 11:57:28 AM PST by HawaiianGecko (Online internet polls are foolish: Winston Churchill, 1939)
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To: Baynative
OK - let’s start with grand jury investigations or Fannie Mae and Freddie Mac right now!

That won't be done ... those GSEs are the private domain of Barney Frank and Chris Dodd.

35 posted on 12/25/2008 12:12:14 PM PST by bimbo
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To: HawaiianGecko
You're exactly right. Money is fungible and it should be easy enough for the banks to show where the money went. I suspect the stonewalling right now is to give themselves time to "correct" their bookkeeping now that the heat is on.

Unless the banks are required to cut non-bailout related expenditures, it's all just kabuki theater.

And the Democrats' posturing about accountability is laughable, in light of the Fannie Mae/Freddie Mac debacle. Will they be requiring the same kind of accounting "rules"?

36 posted on 12/25/2008 12:14:41 PM PST by Madame Dufarge
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To: HawaiianGecko
” Aye, that's the rub” -

Because we really have NOT “spent” the money that was “immediately needed” and was an “emergency” in that first week in October. We were told that “hours mattered” and that emergency sessions (without accountability” were needed over the weekend to get the bailout bill through.

But then the vote happened - and the money authorized, but the Fed’s claimed they needed contracts to write contracts to authorize contractors to write the checks to the Wall Street banks. Very, very little of those billions has actually gotten to banks and Wall Street yet.

The AIG money in mid-Sept? Don't know. It was a single institution and probably got there.

Mortgage money guarantees a few days later? How many have actually been processed to the final users and banks? We were ALWAYS told of how many “faced” bankcrupcy and how many “faced” foreclosure. But those were liebrally-salted views and numbers to CREATE the crisis, not solve it or identify the crisis. (For example, I “face” foreclosure if I fail to make payments for several months in a row - but I'm not behind now. However, even my situation could be propagandized in a liberal media.

37 posted on 12/25/2008 12:24:48 PM PST by Robert A. Cook, PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
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To: Joann37
Gosh, they thought about this a couple months after passing this monster? Gosh, glad they took on that Republican Congress, and Republican Senate, forcing them to finally... Oh, right, forgot, the most unpopular congress in US History is being run by the liberals, who are shoving idiotic legislation down our throats.

The truth is, no, this isn't the case of a broken clock being right twice a day, but Congress reaching for another toy to bash corporations (that don't contribute enough to them) with. There's no accountability for the money Acorn spends, nor will there be any thought given to accountability for this - it will just be something for them to wave around committee, wondering why banks didn't increase minority loans. why they racistly wrote off a lot of loans to the under-employed, etc.

Any question if this is a case of wanting to know how our money was being spent, it should have been quashed by their grilling of Paulson, wondering why he hasn't handed out every penny already, why he's not done enough to reward companies that are fighting global warming, etc, etc. Everything Pelosi does is agenda driven.

38 posted on 12/25/2008 1:06:51 PM PST by kingu (Party for rent - conservative opinions not required.)
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To: Libloather
"It is outrageous that those institutions cannot - or will not - provide information on how they are spending billions of taxpayer dollars," House Speaker Nancy Pelosi said in a statement.

Yeah you evil Bankers, how dare you. No accountability with taxpayer mooney, harrumph!!

Only Congress can do that.

39 posted on 12/25/2008 1:22:57 PM PST by Condor51 (The difference between stupidity and genius is that genius has its limits)
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To: Condor51
Yeah you evil Bankers, how dare you. No accountability with taxpayer mooney, harrumph!!

"I didn't get a 'harrumph' out of that guy. You watch your a$$."

40 posted on 12/25/2008 1:27:35 PM PST by dfwgator (I hate Illinois Marxists)
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To: HawaiianGecko

I agree somewhat but from my experience the programming company in India takes 8 months because they have 1 analyst who has some experience and 50 kids who took 1 college class in C++. What a crazy system.


41 posted on 12/25/2008 1:54:51 PM PST by doosee
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To: Joann37
I'll stick my head out and say your are correct!!
42 posted on 12/25/2008 3:09:32 PM PST by org.whodat (Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
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To: Baynative
The republican's had eight years to do that!!! Crickets!!!!
43 posted on 12/25/2008 3:11:36 PM PST by org.whodat (Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
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To: Libloather

The looting continues, unabated....


44 posted on 12/25/2008 6:32:56 PM PST by factoryrat
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To: dfwgator

You are good. That’s exactly what I had in mind :-)


45 posted on 12/26/2008 5:47:41 AM PST by Condor51 (The difference between stupidity and genius is that genius has its limits)
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