Will $700B bailout work? We may never know

Yahoo / AP ^ | 01/30/2009 | EagleUSA

[EagleUSA]

WASHINGTON – We may never know whether the government's $700 billion bailout of the financial industry worked, according to a new report from congressional auditors. That's because it will be impossible to sort out which of the government's spending and other tinkering has made a difference, according to the report released Friday by the Government Accountability Office.

The report covers Treasury's administration of the bailout, called the Troubled Asset Relief Program, through Jan. 23. Nearly $294 billion had been released by that date — almost $200 billion of it through a program to inject capital directly into financial institutions.

The roughly $200 billion in capital injections doesn't include any of the separate money authorized to guarantee losses for Bank of America Corp. and Citigroup Inc., or about $20 billion to stabilize automakers Chrysler and General Motors Corp.

[EagleUSA]

How stupid do these criminals think we are? You WILL KNOW if it worked, when you see results. If you do not see results, YOU FAILED AND WASTED HUGE VOLUMES OF TAX DOLLARS. And where did the money go? Hmmmm? Swiss or Cayman Island bank accounts?

[Between the Lines]

We will definitely know if it doesn't work.

[Dead Corpse]

If more government spending did anything positive for the economy, we wouldn’t be in this situation. The Fedgov has been profligate in its spending over the last 15 years.

[HighlyOpinionated]

“You cannot legislate the poor into freedom by

legislating the wealthy out of freedom. What one person

receives without working for, another person must work for

without receiving. The government cannot give to anybody

anything that the government does not first take from

somebody else. When half of the people get the idea that

they do not have to work because the other half is going to

take care of them, and when the other half gets the idea

that it does no good to work because somebody else is going

to get what they work for, that my dear friend, is about the

end of any nation. You cannot multiply wealth by dividing it.”

~~~ The late Dr. Adrian Rogers , 1931 to 2005 ~~~

[Old Professer]

And you cannot unify society by diversifying it.

[Vaduz]

That’s because it will be impossible to sort out which of the government’s spending SUPRISE tax and spend works for the democrats every time.

[org.whodat]

And where did the money go? Hmmmm? Swiss or Cayman Island bank accounts?

I would bet very large chunks of it are there.

[aimhigh]

The Senate stimulu bill is S 336. It’s basically a list of every federal program being given $$$$$$$$$$$$.

[Longhair_and_Leather]

Will $700B bailout work?

NO.