amen to that, they knew about this all along, and now it is just a made up controversy to get you to forget how much extra spending is being done, please, this is nothing in the big scheme of things, of course i dont care, but it isnt my bonus they are after, yet, lol,dt
__________________
A product of a pentecostal raisin, I am a hard man, just ask my children
I am on record everywhere that I am very much concerned about these "bailouts". I say plural "bailouts" because there has obviously been more than the Democratic one that we are critiquing here. The one thing that I said before and will repeat is that this one appears to have a bit more transparency and actual oversight...at least we have some idea of where the money is going (whether to states or banks or businesses) and what things are being done.
Here is an excerpt of an article written on December 22, 2008...obviously before the Obama bailout:
Washington (AP) - It's something any bank would demand to know before handing out a loan: Where's the money going? But after receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it.
"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."
The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest?
None of the banks provided specific answers.
"We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars.
Some banks said they simply didn't know where the money was going.
"We manage our capital in its aggregate," said Regions Financial Corp. spokesman Tim Deighton, who said the Birmingham, Ala.-based company is not tracking how it is spending the $3.5 billion it received as part of the financial bailout.
The answers highlight the secrecy surrounding the Troubled Assets Relief Program, which earmarked $700 billion -- about the size of the Netherlands' economy -- to help rescue the financial industry. The Treasury Department has been using the money to buy stock in U.S. banks, hoping that the sudden inflow of cash will get banks to start lending money.
There has been no accounting of how banks spend that money. Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money -- not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that's happening and there are no consequences for banks who don't comply...
I was a President Bush supporter through thick and thin, but he nearly knocked me off of his bandwagon when he led the bailout parade.
I didn't like it then, and I don't like it now.
Yup. It opened the door to this massive push towards socialism that Obama is making.
However I think the tide is turning and the public is starting to see what is happening.
In typical fashion the Dems will overreach once in power and will freak everybody out.
Now if only the Republicans had some decent politicans / leaders right now. I couldn't believe Charles Grassley's comments that the AIG folks ought to consider suicide like the Japense business people when they shame themselves. It may be one of those unsoliticed thoughts you have but you should have enough sense to keep it to yourself.
I saw that JC Watts was on Fox last night although I didn't get to see it. I loved him and always thought he would make a great Prez or VP despite the out of wedlock kid.
__________________ "I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
I am on record everywhere that I am very much concerned about these "bailouts". I say plural "bailouts" because there has obviously been more than the Democratic one that we are critiquing here. The one thing that I said before and will repeat is that this one appears to have a bit more transparency and actual oversight...at least we have some idea of where the money is going (whether to states or banks or businesses) and what things are being done.
Here is an excerpt of an article written on December 22, 2008...obviously before the Obama bailout:
Washington (AP) - It's something any bank would demand to know before handing out a loan: Where's the money going? But after receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it.
"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."
The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest?
None of the banks provided specific answers.
"We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars.
Some banks said they simply didn't know where the money was going.
"We manage our capital in its aggregate," said Regions Financial Corp. spokesman Tim Deighton, who said the Birmingham, Ala.-based company is not tracking how it is spending the $3.5 billion it received as part of the financial bailout.
The answers highlight the secrecy surrounding the Troubled Assets Relief Program, which earmarked $700 billion -- about the size of the Netherlands' economy -- to help rescue the financial industry. The Treasury Department has been using the money to buy stock in U.S. banks, hoping that the sudden inflow of cash will get banks to start lending money.
There has been no accounting of how banks spend that money. Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money -- not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that's happening and there are no consequences for banks who don't comply...
Incredible. These are supposed to be finanicial institutions and they can't give an account of money given to them as a bailout?
BTW I also disagreed with the first bailout Bush and the a lot of Republicans supported. Obama is continuing a lot of what Bush did in practice, but just not in rhetoric. About the only thing he has done is closed Guatanamo.
__________________ Let it be understood that Apostolic Friends Forum is an Apostolic Forum.
Apostolic is defined on AFF as:
There is One God. This one God reveals Himself distinctly as Father, Son and Holy Ghost.
The Son is God himself in a human form or "God manifested in the flesh" (1Tim 3:16)
Every sinner must repent of their sins.
That Jesus name baptism is the only biblical mode of water baptism.
That the Holy Ghost is for today and is received by faith with the initial evidence of speaking in tongues.
The saint will go on to strive to live a holy life, pleasing to God.
So are we in agreement that the banks need better regulation?
They needed it. That whole sub prime debacle needed to be nipped in the bud a long time ago. The whole "loan to people that can't afford it to buy a house" democratic initiative needed to be nipped in the bud a long time ago.
And there are key Democrats that need to be prosecuted or something for letting Fannie and Freddie be ran the way it was and glibly saying they were fine when they were not.
And the SEC needed to be regulated a long time ago. The solution is not throw money at the problems
__________________ Let it be understood that Apostolic Friends Forum is an Apostolic Forum.
Apostolic is defined on AFF as:
There is One God. This one God reveals Himself distinctly as Father, Son and Holy Ghost.
The Son is God himself in a human form or "God manifested in the flesh" (1Tim 3:16)
Every sinner must repent of their sins.
That Jesus name baptism is the only biblical mode of water baptism.
That the Holy Ghost is for today and is received by faith with the initial evidence of speaking in tongues.
The saint will go on to strive to live a holy life, pleasing to God.
Incredible. These are supposed to be finanicial institutions and they can't give an account of money given to them as a bailout?
BTW I also disagreed with the first bailout Bush and the a lot of Republicans supported. Obama is continuing a lot of what Bush did in practice, but just not in rhetoric. About the only thing he has done is closed Guatanamo.
Don't forget he also has;
1. Approved Government funding for abortions in foreign aid (all previous Repub admins since Reagan did not allow that)
2. Approved Gov.t funding of stem cell research from more dead babies
3. Supports changing the rules so that union votes no longer have secret
ballots so union thugs can intimidate people into voting to unionize.
etc, etc. Those are just off the top of my head after a long day.
__________________ "I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
1. Approved Government funding for abortions in foreign aid (all previous Repub admins since Reagan did not allow that)
2. Approved Gov.t funding of stem cell research from more dead babies
3. Supports changing the rules so that union votes no longer have secret
ballots so union thugs can intimidate people into voting to unionize.
etc, etc. Those are just off the top of my head after a long day.
I knew of the first two but not the last one...WOW. The first two can be bothersome in a moral or ethical basis but also I am bothered that we are going to throw more money around we don't have. People talk about Bush getting us into debt but just how much more is Obama doing to dig us in and has already?
__________________ Let it be understood that Apostolic Friends Forum is an Apostolic Forum.
Apostolic is defined on AFF as:
There is One God. This one God reveals Himself distinctly as Father, Son and Holy Ghost.
The Son is God himself in a human form or "God manifested in the flesh" (1Tim 3:16)
Every sinner must repent of their sins.
That Jesus name baptism is the only biblical mode of water baptism.
That the Holy Ghost is for today and is received by faith with the initial evidence of speaking in tongues.
The saint will go on to strive to live a holy life, pleasing to God.
Linear Mode
