REAL WORLD EVENT DISCUSSIONS

Where has all the money gone?

POSTED BY: GEEZER
UPDATED: Friday, January 16, 2009 19:30
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VIEWED: 998
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Tuesday, January 13, 2009 9:36 AM

GEEZER

Keep the Shiny side up


Interesting map from Pro Publica of where the Troubled Asset Relief Program money has gone so far. $279.23 Billion disbursed to 300 financial institutions to date.

Not so sure if any has made it beyond those institutions to the people.

http://www.propublica.org/special/bailout-map

"Keep the Shiny side up"

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Tuesday, January 13, 2009 9:49 AM

SIGNYM

I believe in solving problems, not sharing them.


There is an oversight committee (now) which is requiring performance criteria and asset tracking, but unfortunately Paulson's and his protege (forgot his name) seem to have turned the baiout into a giveaway
Quote:

It took a full month for many in Congress and the American public to realize that billions in bailout funds were not going to be used the way they thought.

Instead of purchasing failed mortgage assets, the Treasury Department used the taxpayer money to buy preferred shares of stock in select banks. It was not only weak banks in need of assistance, but also banks supposedly deemed to be "strong" by federal regulators; the idea apparently to help shore up the economy by ensuring strong banks take over weaker ones (although nobody from the Treasury Department has responded to our repeated requests for information).

Sources tell CBS News the bank strategy was not discussed in advance with important members of Congress who were "sold" on the bailout. Sources also say the strategy was not mentioned to top members who spoke directly with Treasury Secretary Paulson. But in the first weeks of the bailout, select banks become in-the-know quickly. Several of them have said it was "federal regulators" who approached them and urged them to apply for bailout money ... even before the public or Congress were aware this would be its use.

The banks themselves, which are not required under the bailout law or by Treasury to disclose the information, aren't saying much about how they got clued in so early on the strategy that was a surprise to so many others. But another indicator that giving the money to banks, some of them using it to buy other banks, was no sudden accident. It's significant to note that concurrent with the bailout, Secretary Paulson quietly made a change in archaic tax law. It was a change that stands to benefit some bailout banks that buy others.


www.cbsnews.com/blogs/2009/01/12/couricandco/entry4716830.shtml


---------------------------------
Let's party like its 1929.

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Tuesday, January 13, 2009 10:01 AM

RIVERLOVE


Quote:

Originally posted by SignyM:
There is an oversight committee (now) which is requiring performance criteria and asset tracking, but unfortunately Paulson's and his protege (forgot his name) seem to have turned the baiout into a giveaway
Quote:

It took a full month for many in Congress and the American public to realize that billions in bailout funds were not going to be used the way they thought.

Instead of purchasing failed mortgage assets, the Treasury Department used the taxpayer money to buy preferred shares of stock in select banks. It was not only weak banks in need of assistance, but also banks supposedly deemed to be "strong" by federal regulators; the idea apparently to help shore up the economy by ensuring strong banks take over weaker ones (although nobody from the Treasury Department has responded to our repeated requests for information).

Sources tell CBS News the bank strategy was not discussed in advance with important members of Congress who were "sold" on the bailout. Sources also say the strategy was not mentioned to top members who spoke directly with Treasury Secretary Paulson. But in the first weeks of the bailout, select banks become in-the-know quickly. Several of them have said it was "federal regulators" who approached them and urged them to apply for bailout money ... even before the public or Congress were aware this would be its use.

The banks themselves, which are not required under the bailout law or by Treasury to disclose the information, aren't saying much about how they got clued in so early on the strategy that was a surprise to so many others. But another indicator that giving the money to banks, some of them using it to buy other banks, was no sudden accident. It's significant to note that concurrent with the bailout, Secretary Paulson quietly made a change in archaic tax law. It was a change that stands to benefit some bailout banks that buy others.


www.cbsnews.com/blogs/2009/01/12/couricandco/entry4716830.shtml


---------------------------------
Let's party like its 1929.


Originally posted by SignyM:

Please, don't come whining at me about how horrible I am for calling you names, you drunken, death-loving cunt.

I hope you die in your own drunken vomit.
and BTW Fuck you.
---------------------------------
Let's party like its 1929

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Tuesday, January 13, 2009 11:50 AM

OUT2THEBLACK


No call for that sort of language from anyone...

Let's not repeat it .

There could be a passel of little-uns underfoot ; the Big Folk have to clean it up , set some kind of clean and virtuous example...

Let's let it go...It's air through the engine now...

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Tuesday, January 13, 2009 12:06 PM

STORYMARK


Quote:

Originally posted by Riverlove:


Please, don't come whining at me about how horrible I am for calling you names, you drunken, death-loving cunt.

I hope you die in your own drunken vomit.
and BTW Fuck you.
---------------------------------
Let's party like its 1929



Wow.

You really are just black and hollowed-out on the inside, aren't you?

"I thoroughly disapprove of duels. If a man should challenge me, I would take him kindly and forgivingly by the hand and lead him to a quiet place and kill him."

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Tuesday, January 13, 2009 12:40 PM

DREAMTROVE


Storymark,

She has replaced herself with a bot.

The sad part is for this to be true, it would have to be every response, and it would not have made a double post, so she is taking the time to do it manually. Which means, as a sock puppet, she's the sockpuppet of a subgenius.

I hate to indicate that this means she is liable to be someone that she praised, but there's no reason to create a sockpuppet for the purpose of being the same person.

She's lost all interest in the forum except to get the account banned, but I don't see why. I mean, of course she's likely to resurface as someone new... argh. See, this is why I use IP tracking on all my software. So that no one can do this on my forums. It just f^&ks everything up.

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Tuesday, January 13, 2009 1:48 PM

GEEZER

Keep the Shiny side up


RiverLove

Please don't bring that over here.

Thanks.

"Keep the Shiny side up"

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Tuesday, January 13, 2009 7:49 PM

JAYNEZTOWN


Dollar Collapse by 2010?

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Friday, January 16, 2009 3:04 PM

RUE

I have a vote and I'm not afraid to use it!


Where has all the money gone?


Overseas ?

http://apnews.myway.com/article/20090116/D95OHIB80.html

Report: Over 8 in 10 corporations have tax havens

By KEN THOMAS

WASHINGTON (AP) - Eighty-three of the nation's 100 largest corporations, including Citigroup, Bank of America and News Corp. (NWSA), had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday.
The Government Accountability Office released a report that said Bank of America Inc., Citigroup Inc. (C) and Morgan Stanley (MS) all had more than 100 units in countries that maintain low or no taxes. The three financial institutions were included in the $700 billion financial bailout approved by Congress.

Insurance giant American International Group Inc. (AIG), which has received about $150 billion in bailout money, had 18 subsidiaries. JPMorgan Chase & Co. (JPM) had 50 units and Wells Fargo & Co. (WFC) had 18; both financial institutions received government bailout money.

Sens. Carl Levin, D-Mich., and Byron Dorgan, D-N.D., who requested the report, have pushed for tougher laws to fight offshore tax havens around the globe. Levin, who leads the Senate Permanent Subcommittee on Investigations, has estimated abusive tax havens and offshore accounts cost the U.S. government at least $100 billion a year in lost taxes.

"I think we should take action to shut down these tax dodgers and we will be introducing legislation to do just that," Dorgan said.

General Motors Corp. (GM), which received $13.4 billion from the federal rescue package, had 11 offshore subsidiaries while GM's financing arm, GMAC LLC (GOM), had two offshore units. GMAC, whose majority owner is private equity firm Cerberus Capital Management LP, received $5 billion from the Treasury Department in late December.





***************************************************************

Silence is consent.

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Friday, January 16, 2009 3:50 PM

DREAMTROVE


double post

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Friday, January 16, 2009 3:50 PM

DREAMTROVE


I think Citigroup, and its not so silent partners. The gnomes, the gnomes have it. Lotta gold on ships. I'm expecting someone to introduce a gold backed currency in the depression low, and they're using the money to buy up the world's gold, corner the market. I know that China and Dubai, Kuwait, Saudis, buying a lot of gold. I can see that alliance.

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Friday, January 16, 2009 3:53 PM

PIRATENEWS

John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!


Billionaire Bloomberg reported that over $8.5-billion was disappeared in the first 7 weeks.
www.globalresearch.ca/index.php?context=va&aid=11236

The "$350-billion" voted on by impotent lyin Congress yesterday is added to the $8.5-trillion+.

Detroit carmakers got a mere $15-billion last week, and GM cut another 20,000 jobs today.

It will require a quadrillion dollar bailout to put a dent in the Derivatives ponzi scam.

USA will soon break up into 6 separate republics as a result of economic depression and civil war:




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Friday, January 16, 2009 7:30 PM

DREAMTROVE


John,

Quote:


It will require a quadrillion dollar bailout to put a dent in the Derivatives ponzi scam.



A quadrillion is roughly the ballpark that I think would cover it, the dollar would become worthless, and 90% of the economy would then be owned by the lenders, who could then buy the rest of America, which I assume is the plan. But it won't do any good unless the currency is minted by someone with the power to mint currency, not if it is borrowed from the federal reserve.

Like your civil war, this will never happen, because the decision makers are run by the banks.

Instead maximum debt will continue to demand maximum interest as long as the slave state can be maintained.

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