Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: businessprofessor

The government has no business entering into any covenant that does not place the taxpayers’ interest first. Someone failed to do their duty in agreeing to such a covenant (and it would not terribly surprise me to find that that person has a connection to the beneficiaries of it).

This is rank and open corruption and screwing of the taxpayer!


21 posted on 09/06/2011 4:46:22 PM PDT by icanhasbailout
[ Post Reply | Private Reply | To 15 | View Replies ]


To: icanhasbailout
The government has no business entering into any covenant that does not place the taxpayers’ interest first.

how about this instead: "The government has no business entering into business with the taxpayers' money."

23 posted on 09/06/2011 4:49:36 PM PDT by Meet the New Boss
[ Post Reply | Private Reply | To 21 | View Replies ]

To: icanhasbailout
The government has no business entering into any covenant that does not place the taxpayers’ interest first. Someone failed to do their duty in agreeing to such a covenant (and it would not terribly surprise me to find that that person has a connection to the beneficiaries of it).

Government should never have loaned the money in the first place. The corruption was the government loan not treatment of the lenders unless the lenders made political payoffs.

Democrats know that it is not practical to put taxpayers ahead of other bondholders. Companies will not be able to raise capital outside of government with such bond covenants. I see nothing but corruption from government loans. Democrats have turned the DOE into a venture capital firm to fund their delusional view of energy development.
30 posted on 09/06/2011 5:03:27 PM PDT by businessprofessor
[ Post Reply | Private Reply | To 21 | View Replies ]

To: icanhasbailout

This government has a track record of putting the interest of the taxpayers last and I’m sure that any deal made by the Obama administration would be structured as such.


42 posted on 09/06/2011 6:07:22 PM PDT by grumpygresh (Democrats delenda est)
[ Post Reply | Private Reply | To 21 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson