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  1. 03-21-2009, 08:05 AM #76
    Missing Sock
    Missing Sock is offline Registered User
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    Quote Originally Posted by AKBckntry View Post

    What does this say to anyone contemplating doing business with the government in the future? If you screw up, even if it's our lack of oversight, we will enact punishment without regard to your Constitutional rights?

    What about other institutions that were solvent but still force-fed TARP money and must now live in fear of the government's heavy hand, lest they pay their dastardly managers a disgusting performance bonus?

    Will the Constitution see its 220th birthday?
    Nice post. You really hit the nail on the head here. The Treasury plan to use a series of public/private partnerships to help get the "toxic" assets off bank balance sheets but what institution is going to possibly enter into business with the Feds if they know the government will just change the rules on them midway through if they don't like the way things are going.

    Heck, they are going to risk banks returning TARP money to avoid this micromanaging and will lead to a continued freeze on credit rather than the banks loaning out those TARP funds.

    I have to think Obama is smarter than to sign something like this.
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  2. 03-22-2009, 12:33 AM #77
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    AKBckntry
    AKBckntry is offline Soul agent for the USA
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    Quote Originally Posted by Missing Sock View Post
    Nice post. You really hit the nail on the head here. The Treasury plan to use a series of public/private partnerships to help get the "toxic" assets off bank balance sheets but what institution is going to possibly enter into business with the Feds if they know the government will just change the rules on them midway through if they don't like the way things are going.

    Heck, they are going to risk banks returning TARP money to avoid this micromanaging and will lead to a continued freeze on credit rather than the banks loaning out those TARP funds.

    I have to think Obama is smarter than to sign something like this.
    Thank you.

    I've already read articles about the concern some banks are harboring with regard to drumming up business with higher income customers. It seemed that the banks were figuring that with the tax proposals and other goings on they were unlikely to receive a great deal of business from the wealthy, more stable customers and should therefore continue to keep their heads down (continue to strangle lending) and wait for conditions to improve. Stay under the government radar I guess.
    -Thomas
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  3. 03-22-2009, 10:50 AM #78
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    Downbound Train
    Downbound Train is offline Obama's Robot Lies Too
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    President Obama willingly accepted donations from AIG to his presidential campaign last year, and now this year he has handed-over billions of our tax dollars to the company.

    Was it a “quid pro quo,” “return the favor” move from Obama? The situation certainly entails a conflict of interests. Given this, and given his recent desire to play the “give the money back” game, President Obama needs to start by giving back to AIG the money they gave him for his campaign. Sadly, there is no evidence that President Obama has any intention or desire to resolve this ethical dilemma.
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  4. 03-22-2009, 11:14 AM #79
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    rideit
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    'Obama' hasn't given AIG anything...Congress has allowed the treasury to.
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  5. 03-22-2009, 01:10 PM #80
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    Downbound Train
    Downbound Train is offline Obama's Robot Lies Too
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    Quote Originally Posted by rideit View Post
    'Obama' hasn't given AIG anything...Congress has allowed the treasury to.
    Obama never signed the bill with the "Dodd Amendment" in it giving the bonuses to AIG? Thought he did

    Hey I guess if you don't bother reading the bill, you can play dumb after the fact much easier....

    If you want to believe Obama didn't know and you are willing to accept his ignorance as an excuse, that's a problem.

    OR, He signed the bill and he knew it was in there.....that's a problem too....
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  6. 03-22-2009, 03:56 PM #81
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    OSECS
    OSECS is online now 79 billionth man on Earth
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    Quote Originally Posted by rideit View Post
    'Obama' hasn't given AIG anything...Congress has allowed the treasury to.
    I think it's coming out that the administration and members of Congress did know what was contained in the bill. That's not good and seems to be politics as usual. I'm hoping for more from President Obama and his administration.
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  7. 03-22-2009, 04:16 PM #82
    Smokey McPole Guest
    Quote Originally Posted by Downbound Train View Post
    Hey I guess if you don't bother reading the bill, you can play dumb after the fact much easier...
    I don't think anybody actually read the whole bill. I know I sure didn't. I kept waiting for it to be posted online for five days before Obama signed it, but I guess that was just another empty campain promise.
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