Neil Barofsky, another watchdog for the TARP program, told the Senate committee his office is turning to criminal investigations. "That's going to be a large focus of my office," he said.

Wow. With friends like these, eh Bush?

Lets see if Barofsky can get higher than that other Bush nominee, Fitzgerald, could.

because every time the government spends money it's stimulus that creates jobs

Um, no. Government money spent wisely creates jobs. Handing it out to the banks in wheelbarrow loads with no guidance or restrictions on its use was not wise.

Paulson didn't give a shiat about spending the money wisely. He was all too happy to hand out wheel barrows full of cash to his financial industry buddies.

Diogenes: Government money spent wisely creates jobs.

And for the inevitable debate on what wisely means:

Congress has been listening to Mark Zandi. (new window)

From his analysis, the current stimulus plan could be improved with a payroll tax holiday to boost short term spending, but the mix of spending already in the bill will start seeing results in 2010. The spending is currently a $550 billion combination of infrastructure, aid to state governments, and income support.

Hand outs are not spending.

This shiat pisses me off.

Instead of $$$ going to construction/refurbishment of public schools, re-construction of roads, highways, bridges, etc., we're doling out cash to some fat cats and $$$ to prevent the clap.

If Obama and Congress are serious about rebuilding the economy, how about $$$ for subsidizing the innovation of new green technologies? How about public works? Nah, that'd make too much sense.

+1 for subby

Warren said the Treasury, under then-Secretary Henry Paulson, misled the public about how it would price them.
Treasury simply did not do what it said it was doing ... They described the program one way, and they priced it another," Warren said at a hearing before the Senate Banking Committee. She added that Paulson "was not entirely candid" in describing TARP's bank capital injection program.


Is there anything Bush Administration didn't lie about?

DoWhatNowToWhat: Is there anything Bush Administration didn't lie about?

I think I saw Cheney quoted a number of times as saying he was unhappy with something or other. I'm pretty sure that was plausibly true.

ramathorn83: This shiat pisses me off.

Instead of $$$ going to construction/refurbishment of public schools, re-construction of roads, highways, bridges, etc., we're doling out cash to some fat cats and $$$ to prevent the clap.

If Obama and Congress are serious about rebuilding the economy, how about $$$ for subsidizing the innovation of new green technologies? How about public works? Nah, that'd make too much sense.

Besides the tax cuts to keep Republicans happy, which didn't work, that's what the current bill is going to do.

Unless, of course, it gets gutted by kow towing to the reactionaries.

DarnoKonrad: Hand outs are not spending.

Oh, hey there Darconix. How goes it?

"U.S. overpaid banks by $78 billion last year, but that's OK, because every time the government spends money it's stimulus that creates jobs"

This is the approved fark headline? o_0

If it was a troll post it would recieve a 10/10.

All it needs is an Ane Coulter reference.

Question: How much $ do you figure is outstanding on all home mortgages in the US that cost 450000 or less? Do you think it's more than 900 billion?

ramathorn83
If Obama and Congress are serious about rebuilding the economy, how about $$$ for subsidizing the innovation of new green technologies? How about public works? Nah, that'd make too much sense.

You need to read what's in the proposed bill so far. Public works and green technologies are part of it.

But there are too many pet projects as well, in my opinion.

I honestly am starting to sense that heads are going to roll. The O mans team is realizing the filth and are getting more and more angry.

Depending on what happens in the next 3-6 weeks, if things slide south much more I wouldn't be surprised if Dallas Swat was filmed busting down W's gates.

Miranda Renee: Question: How much $ do you figure is outstanding on all home mortgages in the US that cost 450000 or less? Do you think it's more than 900 billion?

Why do you care about mortgages? Are you actually trying to address the root cause of this economic downturn or something?

ramathorn83: This shiat pisses me off.

Instead of $$$ going to construction/refurbishment of public schools, re-construction of roads, highways, bridges, etc., we're doling out cash to some fat cats and $$$ to prevent the clap.

If Obama and Congress are serious about rebuilding the economy, how about $$$ for subsidizing the innovation of new green technologies? How about public works? Nah, that'd make too much sense.

Next time, RTFA

PowerSlacker Um actually writing a paper. Thought this would be a good place to solicit opinions.

Arkitekt4040: DarnoKonrad: Hand outs are not spending.

Oh, hey there Darconix. How goes it?

mongbiohazard, and those that listen to him, are farking retards.


Oddly, you assholes are acting just like Darconix in trolling me over this.

I'd imagine this could be taken care of if a MODERATOR would care to set the record straight.

But this is plain harassment.

U.S. overpaid banks by $78 billion last year, but that's OK, because every time the government spends money it's stimulus that creates jobs on the rich, it buys Republican support

FTFY

DFWPhotoGuy: Depending on what happens in the next 3-6 weeks, if things slide south much more I wouldn't be surprised if Dallas Swat was filmed busting down W's gates.

I wonder if there's a point where they've been investigating, not getting anywhere, that they just decide to round up the people who implemented all this, stick them in a room until they say exactly what they did with the money.

Flargan: This is the approved fark headline? o_0

If it was a troll post it would recieve a 10/10.

All it needs is an Ane Coulter reference.

The only trolling headlines that are greenlit are freeptastic. I could count on one hand the number of comparably left-wing trolling greens. Exactly what that indicates about the admins' bias, I'm not sure.

One last fark-you-America from the Bush administration.

TofuTheAlmighty: Flargan: This is the approved fark headline? o_0

If it was a troll post it would recieve a 10/10.

All it needs is an Ane Coulter reference.

The only trolling headlines that are greenlit are freeptastic. I could count on one hand the number of comparably left-wing trolling greens. Exactly what that indicates about the admins' bias, I'm not sure.

Agreed. This became highly evident the middle of last year in the run up to the elections. Admins have to listen to what their boss tells them. Right Drew?

whereisian

Next time STFU.

patrick767

Yes I do realize there is $$$ for schools, infrastructure. My grievance was over the fact there should be more $$$ for these things, as opposed to useless pork.

Flargan: "U.S. overpaid banks by $78 billion last year, but that's OK, because every time the government spends money it's stimulus that creates jobs"

This is the approved fark headline? o_0

If it was a troll post it would recieve a 10/10.

All it needs is an Ane Coulter reference.

I like how Ann Coulter's latest column says that single mothers are a greater menace to America than smoking. But her party still want birth control out of the stimulus plan. (Hint: Teaching poor people to use birth control saves us money.)

/how's that?

ramathorn83: This shiat pisses me off.

Instead of $$$ going to construction/refurbishment of public schools, re-construction of roads, highways, bridges, etc., we're doling out cash to some fat cats and $$$ to prevent the clap.

If Obama and Congress are serious about rebuilding the economy, how about $$$ for subsidizing the innovation of new green technologies? How about public works? Nah, that'd make too much sense.

The people in those fields didn't contribute to Obama's campaign.

fosborb: Neil Barofsky, another watchdog for the TARP program, told the Senate committee his office is turning to criminal investigations. "That's going to be a large focus of my office," he said.

I really hope these bastards go to jail.

ramathorn83: whereisian

Next time STFU.

patrick767

Yes I do realize there is $$$ for schools, infrastructure. My grievance was over the fact there should be more $$$ for these things, as opposed to useless pork.

Isn't the touted infrastructure a small fraction of the bill. The rest is unnecessary shiat the Dems have not been able to convince the citizens on by merit.

SO sayeth Obama!

bankers...even Jesus doesn't forgive 'em

FTFA: condemned management of the TARP program, which is barely four months old.

"Implementation ... proceeded in a chaotic, unorganized and ad hoc manner,"

//fondly recalling everything about the preceding 8 years.

FEMA_CAMPER: bankers...even Jesus doesn't forgive 'em

Oh no! Jesus is a Socialist!

Nemo's Brother: Isn't the touted infrastructure a small fraction of the bill. The rest is unnecessary shiat the Dems have not been able to convince the citizens on by merit.

There's a breakdown in my link above.

12.35% for income support (food stamps, unemployment insurance, etc)
19.25% for infrastructure spending
25.54% aid to state governments
9.56% healthcare/education/other
33.29% tax cuts

In my opinion, the ~10% misc should be cut. Also, about 10% of the tax cuts go to businesses and won't provide much stimulus, but I understand the political necessity.

Nemo's Brother: ramathorn83: This shiat pisses me off.

Instead of $$$ going to construction/refurbishment of public schools, re-construction of roads, highways, bridges, etc., we're doling out cash to some fat cats and $$$ to prevent the clap.

If Obama and Congress are serious about rebuilding the economy, how about $$$ for subsidizing the innovation of new green technologies? How about public works? Nah, that'd make too much sense.

The people in those fields didn't contribute to Obama's campaign.

Try reading, you would have figured out that stuff is included. Of course if you actually read, you might lose your troll title.

obzerver: TofuTheAlmighty: Flargan: This is the approved fark headline? o_0

If it was a troll post it would recieve a 10/10.

All it needs is an Ane Coulter reference.

The only trolling headlines that are greenlit are freeptastic. I could count on one hand the number of comparably left-wing trolling greens. Exactly what that indicates about the admins' bias, I'm not sure.

Agreed. This became highly evident the middle of last year in the run up to the elections. Admins have to listen to what their boss tells them. Right Drew?

All of the politics headlines are trolls. You just don't get trolled by the commie ones, just as Darconix doesn't get trolled by the fascist ones. That's how Drew gets you to click and give him lots of page clicks to charge advertisers more.

/It's got Paul Anka's guarantee
//Guarantee void in Tennessee

I hope the aristocrats cocaine is laced with cancer.

fosborb: Diogenes: Government money spent wisely creates jobs.

And for the inevitable debate on what wisely means:

Congress has been listening to Mark Zandi. (new window)

From his analysis, the current stimulus plan could be improved with a payroll tax holiday to boost short term spending, but the mix of spending already in the bill will start seeing results in 2010. The spending is currently a $550 billion combination of infrastructure, aid to state governments, and income support.

That's almost as crazy as the Plan the republicans are pushing thought up by economist Chris Mayer (new window)who thinks the government should borrow billions by selling 10 year t-bills at 3% and then Lending that money to consumers to re-fi or buy houses at 4.5% fixed for 30 years?

Supposedly this would let us save the economy WITH FREE MONEY, hell the the government would even MAKE money because the homeowners would pay it all back at 1.%% more than the government ment was paying it back to the T-Bill investors

and this would so totaly work because, as we know, nobody EVER Defaults on their home loans, and even if they did foreclosure is a FINE way for a lender to recover thier investment! Besides flooding the market with lending cash would certainly not re-inflate housing value bubble, no siree, no danger of that...


Look, it comes down to this: Either way we are taking a huge mortgage out on our future in the form a big increase in the national debt, but

Follow Obama's plan and we'll have something to show for the money we've spent in the form of new roads schools bridges etc (some the American society of Engineers reckons we'll have to spend some 2.2 trillion on anyway in the next little while)


Follow the republican plan and some very rich people and corporations get a lot richer and we all cross our fingers and hope they spend that extra money in America instead of stashing it in an overseas bank account or foreign subsidiary

further proof that the Banks own our government.

and of course, the banks are laughing all the way to the bank.

while the sheeple get cornholed once again and the republicans celebrate.

Linux_Yes: further proof that the Banks own our government.

and of course, the banks are laughing all the way to the bank.

while the sheeple get cornholed once again and the republicans celebrate.

Oh, don't be naive. This whole bank crisis is nothing more than viral marketing for the upcoming movie, The International.

Overpaying was the entire point. If the government bought them at market value, there would be no point for the government to buy them. The banks could have just sold them on the the market.

The whole point was that at market value, the banks were insolvent. "Overpaying" was what the plan was designed to do. The idea is at some point in a few years' time, the government can sell them at cost or for a profit.

politicians know how to run our lives better than us, right? that's why they're elected and we have government, right?

Linux_Yes: further proof that the Banks own our government.

and of course, the banks are laughing all the way to the bank.

while the sheeple get cornholed once again and the republicans celebrate.

Do you ever engage in debate where you refute others' positions and defend your own? Your childish declaratives are an embarrassment to FARK, and that's saying a lot.

GoldSpider: Linux

well what can i say. the truth is a bummer these days.

did i mention the 12 Billion that disappeared in iraq??

Linux_Yes: GoldSpider: Linux

well what can i say. the truth is a bummer these days.

did i mention the 12 Billion that disappeared in iraq??

on a C-130 Military plane.

DarnoKonrad: Arkitekt4040: DarnoKonrad: Hand outs are not spending.

Oh, hey there Darconix. How goes it?

mongbiohazard, and those that listen to him, are farking retards.


Oddly, you assholes are acting just like Darconix in trolling me over this.

I'd imagine this could be taken care of if a MODERATOR would care to set the record straight.

But this is plain harassment.

you all need to stop whining to the Moderator and let Nature take its course. ever heard of Natural Selection?
only the Strong who can back up their arguments can survive on The Fark.
sink or swim, baby.

+1 Subby

Simplest Quantum System Conceivable: Overpaying was the entire point. If the government bought them at market value, there would be no point for the government to buy them. The banks could have just sold them on the the market.

The whole point was that at market value, the banks were insolvent. "Overpaying" was what the plan was designed to do. The idea is at some point in a few years' time, the government can sell them at cost or for a profit.

That was the line Paulson fed us. Sounds good enough, but did it actually achieve the intended result? Did it free up the commercial paper market? The answer is no. All it did was allow the people who caused the mess to keep their high paying jobs.

They should have stepped in and started guaranteeing loans they could actually be paid back buy solid businesses. Instead they bought the worst of the crap real estate derivatives. That money is never coming back.