Posted on 06/12/2009 7:21:37 PM PDT by penelopesire
Senators who oversee the $700 billion Wall Street rescue package held stocks in many of the banks bailed out towards the end of last year, according to financial disclosure reports released Friday.
According to the reports detailing senators’ finances in 2008, nearly half of the members of the Senate Banking Committee had holdings in financial institutions that have taken funds from the Troubled Asset Relief Program (TARP). The panel has jurisdiction over the bailout fund and other relief efforts directed by federal regulators to save the nation’s financial system.
For example, Sen. Tim Johnson (D-S.D.), a Banking panel member, has assets in several banks that have taken bailout funds. Along with Goldman Sachs, the senator has several assets in Bank of America funds, worth at least $115,00. Bank of America has received $45 billion in government funds.
Another Democrat invested in bailed-out institutions is Sen. Chuck Schumer (N.Y.). Schumer has assets valued between $15,001 and $50,000 in Morgan Stanley and $1,001 to $15,000 in Citibank, according to his financial disclosure report. Morgan Stanley received $10 billion in TARP money while Citigroup was given $25 billion from the program.
Sen. Herb Kohl (D-Wis.), another Banking Committee member, also invested in some of the banks that received federal money. In a separate trust that the senator does not oversee, Kohl had assets valued between $15,001 and $50,000 and another valued from $1,001 to $15,001 in JP MorganChase funds, which received $25 billion in bailout money.
(Excerpt) Read more at thehill.com ...
Chris Dodd has not filed his info yet. It will be interesting to find out what he owned.
ping
I wonder how much Fannie and Freddie they had?
Laughing their butts off at us taxpaying suckers.
And if the list was mostly Republicans, can you imagine the field day the media would have? I’m sure NO ONE will hear anything about this, except at Fox, of course.
I wonder if Obama or Tax Cheat Timmy had any holdings in these companies.
Probably a good bit...especially Barney and his gang. I remember that John Kerry was heavily invested with AIG during his campaign.
Big deal. She was an employee...not a major investor.
Of course—Congress is the top swindler of all times with obozo admin coming in a close 2nd.
Who voted FOR the TARP funds?
Yes. Did Cantor vote FOR the bailout?
Corruption runs rampant because so very few of the corrupt ever pay a penalty for it.
Good question. We know Goldman Sacs was Obama’s biggest contributor.
Our Government at Work:
It is the month of August; a resort town sits next to the shores of a lake. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.
Suddenly, a rich tourist comes to town.
He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one.
The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher.
The Butcher takes the 100 dollar bill, and runs to pay his debt to the pig raiser.
The pig raiser takes the 100 dollar bill, and runs to pay his debt to the supplier of his feed and fuel.
The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town’s prostitute that in these hard times, gave her “services” on credit.
The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.
The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything.
At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying that he did not like any of the rooms, and leaves town.
No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism .
And that, ladies and gentlemen, is how the United States Government is doing business today.
Anyone know of a good rope company? I have a few bucks I’d like to invest.
Hang them all!
Some Tax Payer’s, The Voting Mindless Robots, keep putting the same crooks back in office, and then complain.
Is there any way we can find out? Will we EVER know?
Ah... The analogy doesn’t really seem to apply.
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