As part of the story I just heard on Gretta that legislation was passed today allowing Merrill Lynch executives to get their bonus’s. There is fully a 3 ring circus going on with the dimocRAT controlled Congress.
I also heard the Obama administration used AIG to filter 40 billion of our hard earned taxpayer dollars to 16 foreign banks. The Bank of France got somewhere around 11 billion and Deutsches Bank got around 5 billion.
The story keeps unraveling. The handling of the financial crisis by the dimocRAT Congress and the Obama administration has got to be the biggest boondoggle I can remember.
Thats where all the money went. Lets distract the fact that we just sent Billions to Europe for the purposes of ‘helping global liquidity’, and borrowed the money to do it, with a couple hundred Million to some hard working people. Most of them have agreed to give all the money back anyways. Its basically 100% tax. They left out 10% so these guys could hire a lawyer and accountant to figure out if they have to pay the tax. Ultimately it should be ruled unconstitutional, and there be no restriction on bonuses, or activities. The government gave a loan. They did not give free money.
Wouldn’t you think the first thing you would ask if someone needs $100 Billion is, “what are you using the money for?”. I am beginning to think that these guys aren’t completely inept as it appears, but rather, they are just really bad at hiding their back room, pay and play schemes. (which makes them inept con men) The sheer volume of negative stories coming out of this administration is staggering. And not the political slander from the right, but really bad decision making.
Geitner staff is missing because they can’t find any smart people who will buy the con. The industry pros won’t back this, just for a little power, they already have that.