I hope there is actually something done about this other than another news story
Congress is paying a bonus to each home owner who made a bad choice about buying.
bttt
Pretty remarkable that AP would run this story. And a ton of AP reporters contributed to it, too. In addition to Julie Hirschfield Davis, “Associated Press writers Ieva M. Augstums, Jeannine Aversa, Martin Crutsinger, Ben Feller, Jim Kuhnhenn and Jennifer Loven contributed to this report.”
What next?
Well if Obama didn’t know about it then he is stupid and didn’t bother to read what he voted for in the bailout or he is lying take your pick. Which is it Obama?
http://www.iht.com/articles/2008/11/25/business/25sorkin.php
Nov 25, 2008 NYT
One reason Obama gave for nominating Geithner was his “unparalleled understanding of our current economic crisis, in all of its depth, complexity and urgency.” More important, he suggested, “Tim will waste no time getting up to speed. He will start his first day on the job with a unique insight into the failures of today’s markets — and a clear vision of the steps we must take to revive them.”.....
....But Geithner’s involvement in several ultimately ill-fated efforts to buttress the American financial system is the very reason some Wall Street CEO’s — a number of whom spoke on the condition of anonymity for fear of piquing the man who regulates them — question whether he’s up to the challenge.
“We have only two things to say about Tim Geithner, who we do not know: AIG and Lehman Brothers,” said Christopher Whalen of Institutional Risk Analytics. “Throw in the Bear Stearns/Maiden Lane fiasco for good measure,” he said, referring to the site of the New York Federal Reserve, where many rescue discussions took place.
“All of these ‘rescues’ are a disaster for the taxpayer, for the financial markets and also for the Federal Reserve System as an organization. Geithner, in our view, deserves retirement, not promotion.”
LMAO!
Now even ASSOCIATED PRESS is picking off 0bama lies.
You gotta know the liberal game is lame when the AP is all over them, even before new fairy tales can take root.
:-D
Yep. AIG execs bribed the Congress and Obama with campaign contributions in return for a chunk of public money to spend on resorts and massive bonuses.
Yet strangely, there are a handful of posters on FR who defend the whole sordid mess.
This too will blow over, Obama’s going on Leno Thursday night haven’t ya heard? His poll numbers should zoom up to 100% by Friday morning./sarc to the max
Another case of getting caught while attempting to slip something through? Or is it a setup to boost zero’s ratings? If it’s true that zero and his zombies knew about the bonuses beforehand, why didn’t they include a clause in the bail-out agreement that prohibited the issuance of bonuses? Are they THAT stupid? Dumb like a fox, Zero, now enters the scene, stage left, to play the people’s hero, “saving” them from this outrage. Problem is, he won’t stop with corps receiving fed bailouts. We’ll all be making $5 an hour by the time his term is up.
The only good thing I can say about this is that nobody is likely to be taken out and shot as a result of all of these “show trials.”
Otherwise, this is identical to Stalin’s show trials of the late 1930’s. Gin up a fake scandal. Have all the politicians decry the “wreckers” as traitors (or crooks). Get the press (which is nothing more than the propaganda tool of the state) to whip up a public frenzy for retribution.
As an avid student of history, I’ve seen this before. 0bama and his Stalinist wanna-bes are playing out the same game plan. Unfortunately, most Americans are just like the Russians; too stupid and ignorant to see it for exactly what it is.
The goal, as always, is to subdue opposition in the pursuit of power. In this case, the “opposition” is any private industries targeted for takeover. First will be the finance “show trials.” The energy companies are next.
bump