Where'd the bailout money go? Banks aren't saying

[Scott50]

http://www.usatoday.com/money/industries/banking/2008-12-22-bailout-money-where_N.htm

[Genenco]

Wouldn't surprise me, that they don't want to say "Well, we took a couple of billion, blew $12,000,000 on a couple of parties for the upper managers and then bonused them $150,000,000"

Yeah, I think people need to sharpen some skills...Sniper skills...

I know, I'm not really directing anyone to actually KILL someone...But dang it, this wasn't what the money was meant for.

There are major strings attatched to the Big 3 bailout, who forgot to pilot the ship while this crap was occuring?

T.A.R.P Take And Run Position...Yeah, with our money..Bastards

[magyar123]

T.A.R.P Take And Run Position...Yeah, with our money..Bastards

And this is/was already these bastards' second bailout. They wined, dined, and 69nd Congress/Bush in 2005 to pass those new bankruptcy laws.

[allavdj]

I wish I had a link handy, but there are already some folks sueing the treasury dept or the federal reserve over the lack of disclosure and straight up stone walling that has occurred, even when requests are made under the Freedom of Info Act. These guys basically took the money and blew it on hats and kittens.

[AngelinaCatHub]

You have it right on. With this kind of money, the vein is open and I would dare say the blood money is coming back to those who are giving our bucks. Who's fault is this? OURS!! We keep voting in our vultures as OUR vulture is better than YOUR vulture. What a bunch of corrupt people we have and will have in D.C.

I vote our Illinois Governor as Federal Reserve head. Why not? We are in the sewer now are we not? F'ing angry 'Hub

BTW Have a Merry Christmas

[Scott50]

I'm amazed that the big Three Automakers (Chrysler & GM atleast) we're grilled for days on why they needed the govt loans and were asked to provide detailed plans for a turnaround in ninety days. Yet the Federal Govt has not asked the banks to be held accountable for roughly 350 Billion? I think the answer is that the banking/investment/wall street have given upwards of $40 million dollars in campaign contributions to Washington compared to about 4-5 million that the Big Three have contributed to Washington. Money talks..

[shabam]

I'm amazed that the big Three Automakers (Chrysler & GM atleast) we're grilled for days on why they needed the govt loans and were asked to provide detailed plans for a turnaround in ninety days. Yet the Federal Govt has not asked the banks to be held accountable for roughly 350 Billion? I think the answer is that the banking/investment/wall street have given upwards of $40 million dollars in campaign contributions to Washington compared to about 4-5 million that the Big Three have contributed to Washington. Money talks..

The big three were also drilled on insignificant details such as how they traveled to Washington. Whereas not a squeak came out about the $400,000 AIG executives spent on retreats following their $40 billion plus bailout.

[JRScott]

This is why i was always against the Financial Bailout, I knew there would never be any oversight and no accountability based on how the bill was written.

The reason congress was asking far more questions with the Auto Bailout is that they were getting a lot of flak about the financial bailout. These people are elected officials and many people are very mad about the whole situation, which was mostly caused by Congress in the first place.

In fact Congress should require a full accounting of all funds spent so far before releasing the second portion of these TARP funds. If a full accounting cannot be given they should not be released.

In fact no further funds should be released unless as the bill states an Inspector General is appointed and Congress oversight committee formed. Really odd how they said these measures would reassure the people but neither have ever been set up.

[Overmylimit]

I keep saying it over and over, the History books (if anyone will be able to afford them in the future) will look back on this as one of the biggest financial blunders of all time.

[newbeginning]

Surprise, surprise.....

[BigJohn]

The government should have treated the financial institutions like the financial institutions treat us.