Member
Stimulus Dollars Hard At Work
I'm at a loss for words.Can we just impeach the entire democratic party and be done with it.Our Grand Kids children will be paying for this insanity.I don't think this is the kind of stimulus our hard earned tax dollars was meant for. Just how does this create jobs?
Feds Spent $800,000 of Economic Stimulus on African Genital-Washing Program
http://cnsnews.com/news/article/75198
"Tax is terminal. Any civilization that introduces taxation will eventually tax itself to death"
Senior Member
Old news, but very relevant
http://crooksandliars.com/susie-madr...utsourcing-ind
J.P. Morgan To Up India IT Outsourcing By 25%
http://www.halfwaytoconcord.com/tarp-bailout/
TARP subsidizing job losses
http://newsbusters.org/blogs/tom-blu...ets-little-pre
Obama Admin's IT Outsourcing Assistance to Sri Lanka, Armenia Gets Little Press Notice
On August 3 ("U.S. To Train 3,000 Offshore IT Workers"), InformationWeek.com's Paul McDougall reported that the U.S. Agency for International Development is operating at cross purposes with the Obama administration's stated goal to keep high-tech jobs in the U.S.
http://forums.motortrend.com/70/7387...und/index.html
GM Outsourcing YOUR TAX DOLLARS from the TARP FUNDS
http://online.wsj.com/article/SB1236...ml#mod=testMod
Top U.S., European Banks Got $50 Billion in AIG Aid
This is just the tip of the iceberg ..........
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
-- Friedrich Nietzsche
Member
Thanks Pagan. Unfreakin believable!Originally Posted by Pagan
"Tax is terminal. Any civilization that introduces taxation will eventually tax itself to death"
Senior Member
Pathetic isn't it, the U.S. Taxpayer is financing the loss of their own jobs here for job creation and training overseas.
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
-- Friedrich Nietzsche
Looking for a hero
We don't need a terrorist attack to destroy the nation....our own government is accomplishing that.
If the freedom of speech is taken away
then dumb and silent we may be led,
like sheep to the slaughter.
George Washington (1732-1799) First President of the USA.
Senior Member
hopefully, most of the idiots involved will be gone after November, and those that remain will be afraid to repeat this shit.....the thing that ticks me off the most, though is this.......why isn't news like this headlines on every major newspaper?......most people aren't going to be searching the internet for this and will never know about it......
Last edited by PostmodernProphet; 09-15-2010 at 06:49 AM.
...full immersion.....
Senior Member
They won't, this has been going on for decades and remember, TARP was a 'Dubya administration creation and overwhelmingly supported and passed by both Party's.
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
-- Friedrich Nietzsche
Socialism = Poverty
Troubled Asset Relief Fund - in one way, it was necessary because of all the *government backed mortgages* that went into default courtesy of Fannie and Freddie.
If the US government had not backed those up, then the "full faith and credit" of the US Government would have amounted to nothing... and the value of the dollar would be worth nothing.
On the other hand, TARP became a free for all for every pork barrel Congressman.... Clearly, the role of TARP should be narrowed greatly...
Then, Fannie and Freddie should be dismantled... and those who were responsible for its oversight (Congressman Barney Frank and others) should be held to account
How do you tell a Communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin. - Ronald Reagan
Senior Member
TARP was written by Geithner.....you've heard of him from somewhere else, haven't you?.....
...full immersion.....
Senior Member
I see you're making excuses like the good "Party Member" that you are.
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
-- Friedrich Nietzsche
Senior Member
going to ignore it?......TARP was written by Geithner....that's not an excuse, that's a fact......
...full immersion.....
Socialism = Poverty
Geithner and Obama - two reasons why all across the nation millions of cheats and scalawags hope one day that they, too, will become some of the most powerful persons on the planet.
How do you tell a Communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin. - Ronald Reagan
Senior Member
TARP was written by Geithner?
aaaaaaah showing your complete ignorance yet again there you.
Here's the timeline Slick up until Geithner got his hands into it -
On October 14, 2008, Secretary of the Treasury Paulson and President Bush separately announced revisions in the TARP program. The Treasury announced their intention to buy senior preferred stock and warrants in the nine largest American banks. The shares would qualify as Tier 1 capital and were non-voting shares. To qualify for this program, the Treasury required participating institutions to meet certain criteria, including: "(1) ensuring that incentive compensation for senior executives does not encourage unnecessary and excessive risks that threaten the value of the financial institution; (2) required clawback of any bonus or incentive compensation paid to a senior executive based on statements of earnings, gains or other criteria that are later proven to be materially inaccurate; (3) prohibition on the financial institution from making any golden parachute payment to a senior executive based on the Internal Revenue Code provision; and (4) agreement not to deduct for tax purposes executive compensation in excess of $500,000 for each senior executive." The Treasury also bought preferred stock and warrants from hundreds of smaller banks, using the first $250 billion allotted to the program.
The first allocation of the TARP money was primarily used to buy preferred stock, which is similar to debt in that it gets paid before common equity shareholders. This has led some economists to argue that the plan may be ineffective in inducing banks to lend efficiently
On November 12, 2008, Secretary of the Treasury Henry Paulson indicated that reviving the securitization market for consumer credit would be a new priority in the second allotment.
On December 19, 2008, President Bush used his executive authority to declare that TARP funds may be spent on any program he personally deems necessary to avert the financial crisis. This has allowed President Bush to extend the use of TARP funds to support the auto industry, a move supported by the United Auto Workers.
On December 31, 2008, the Treasury issued a report reviewing Section 102, the Troubled Assets Insurance Financing Fund, also known as the "Asset Guarantee Program." The report indicated that the program would likely not be made "widely available."
On January 15, 2009, the Treasury issued interim final rules for reporting and record keeping requirements under the executive compensation standards of the CPP.
On January 21, 2009, the Treasury announced new regulations regarding disclosure and mitigation of conflicts of interest in its TARP contracting.[21]
On February 5, 2009, the Senate approved changes to the TARP that prohibit firms receiving TARP funds from paying bonuses to their 25 highest-paid employees. The amendment was proposed by Christopher Dodd of Connecticut as an amendment to the $900 billion economic stimulus act yet to be passed.
Then ---------------
On February 10, 2009, the newly confirmed Secretary of the Treasury Timothy Geithner outlined his plan to use the $300 billion or so remaining in the TARP funds. He intended to use $50 billion for foreclosure mitigation and use the rest to help fund private investors to buy toxic assets from banks. Nevertheless, this highly anticipated speech coincided with a nearly 5 percent drop in the S&P 500 and was criticized for being short on details
Sources -
http://www.treas.gov/press/releases/hp1265.htm
http://papers.ssrn.com/sol3/papers.c...act_id=1336288
http://papers.ssrn.com/sol3/papers.c...act_id=1321666
http://www.bloomberg.com/apps/news?p..._Fo&refer=home
http://www.financialstability.gov/do...ToCongress.pdf
http://www.treas.gov/press/releases/hp1207.htm
http://cop.senate.gov/documents/cop-020609-report.pdf
Don't you think it's about time to pull your head out of the Ass's of the Party?
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
-- Friedrich Nietzsche
Super Minion
TARP was Bush agreed upon with Obama. Bush agreed to take the hit on the program, note your own dates.
"The government is a child that has found their parents credit card, and spends knowing that they never have to reconcile the bill with their own money"-Shannon Churchill
Senior Member
http://www.msnbc.msn.com/id/26987291/
Bush signs $700 billion financial bailout bill
updated 10/3/2008
http://www.nytimes.com/2009/01/21/us...eb-inaug2.html
Obama Is Sworn In as the 44th President
January 20, 2009
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
-- Friedrich Nietzsche
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