http://finance.yahoo.com/news/Whered-the-bailout-money-go-apf-13890568.html "WASHINGTON (AP) -- It's something any bank would demand to know before handing out a loan: Where's the money going?" Maybe if they give them the 2nd $350B they'll say. Maybe not.
The solution is clear. The next $350B needs to come in the form of a direct stimulus check to the population, yesterday. Then they need to print another $700B and repeat.
All these guys are using this money to cover their losses. Ex-Goldman guy Ben knew how this money would be used all along. This is not private money, these are public funds. They need to come clean. Makes me sick.....
This is another example of how the media (especially AP) can and is willing to blew up anything out of proportion. AP telephoned some banks to ask how they spent the money. Some banks said yes, then lent some, and probably are holding some other. Then the AP story became "NO ONE CAN TRACK THESE MONEY ANYMORE"
It's not like the feds handed the banks a stack of greenbacks and the banks did something with those particular bills. What happens is that the banks add bailouts to their cap reserve then go about their business. Suppose you ran a small country. Then some a very rich man named Potter moves in after being kicked out of Bailey Park. He pays more taxes in his first year of being in your new country than any other suck. . .errr. . . taxpayer. Then he comes to you and wants to know where his dollars went. How could you tell which dollars came from him and which were from other taxpayers?
plain and simple, it's the biggest heist in history a reverse bank robbery it's the point where this country officially became fascist 99 percent of the people were against it, and they did it anyway NO discussion of how else such a phenomenonly huge amount of wealth might be used, how differing amounts might have been chosen, even thought the treasury dept admitted they pulled the number straight out of their butts - there's always alterantives 700 billion straight out of their butts to unquestionable dictate if that's not fascism, what is?
I think Paulson wants the 2nd half of the TARP funds. At this point, the fundamental question is: Has he handled the 1st half responsibly enough to give him the 2nd half? Easy "Yes" or "No" answer.