February 05, 2009
So, for the more politically ignorant (Eric?) do you STILL support that moronic bail out?

Somebody here (Me, for sure, and other pragmatic types not blinded by party and understanding of reality) came out swinging against the moronic TARP bailout of early October.

Among other things, we were told by some who SHOULD have known better:

"If Congress leaves town without doing something reasonable in a timely manner on this subject, then it be almost impossible to feel sorry for any Member who was for doing nothing. And history will be much less kind to those in federal government with the real power to craft a solution if they should fail."

Today, the results (as if we didn't know in advance) for all of us, including the idiots supporting this crap, is this:

$78 billion vaporized.

Treasury overpaid $78 billion under TARP: watchdog
3 hours ago (Updated 2 hours ago) from Reuters on Bester News Return to Business News

Pictures
By Kevin Drawbaugh and Karey Wutkowski

WASHINGTON (Reuters) - The U.S. Treasury looks to have overpaid financial institutions to the tune of $78 billion in carrying out capital injections last year, the head of a congressional oversight panel for the government's $700 billion bailout program told lawmakers on Thursday.

Elizabeth Warren, a Harvard law professor, said her group estimated the Treasury paid $254 billion in 2008 in return for stocks and warrants worth about $176 billion under the Troubled Asset Relief Program, or TARP.

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.

More:

I do hope you and your sort are happy, now. It's just a pity they don't allow adults to run government.

Posted by Hinton at February 05, 2009 07:21 PM | Email This
Comments
1. Seems to me, Mr. Hinton, that TARP was proposed by someone, even you, claimed was an 'adult'. He based that upon his 'adult' opinion after listening to economic advisors. You can't have it both ways.

Even today, I cringe when any of the electeds try to fake knowledge of the economic system. I still don't really feel comfortable with another bailout or 'stimulus'. I really resent our new President who fiddly farts his way around the WH, jumps in a car to get away from things and then comes back and gives dire warnings of doom. If things are gloomy, then why wasn't he telling us that a couple of weeks ago?

At least when McCain blew his chance at the presidency, he got the railroad to stop and he got some (not enough by any means) controls on the bailout monies.

BTW, I was debating whether to post or not. Eric is not a moron and I see it in poor taste for you to call him that when you are having a bad day. Your Republicanism (mean and nasty) stereotype is in full form. Why don't you practice not being mean and nasty?

Posted by: swatter on February 6, 2009 07:04 AM
2. Eric is not a moron, but Hinton is right to call him on yet another bad big government policy that he supported and has shown to be a bad policy.

Posted by: Lysander on February 10, 2009 04:50 AM
3. I would love to invite you all to a rally to protest the "stimulus" bill that the Democrats are trying to shove through. I am looking for help in spreading the word so that we have as many people as possible show up. So far Steve Beren has agreed to speak, and I would like a few more. Please email to as many people as possible and join us!!!! This could be a very big thing and we could give support to our legislators who are trying to vote NO.

The protest against the porkulus is on for President's Day!

Date: Monday, February 16th
Time: 12:00 p.m. to 3:00 p.m.
Where: Westlake Park in downtown Seattle, 401 Pine St., in the open area by the big arch.

The idea is to use what we've learned about dissent over the last eight years. We need loud protests with lots noise and visuals. So, what should you bring?

Bring AS MANY PEOPLE AS YOU CAN! Bring your families, your friends, neighbors, bring everyone!

Bring SIGNS!! Get those craft making juices flowing and make signs and banners and pictures and paintings. Just imagine that you are a left-wing college student with nothing else to do and that should help you get started!

Bring something to sit on and appropriate clothing.

Most importantly, JUST BRING IT!!!

Posted by: Libertybelle on February 12, 2009 11:56 AM
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