Bipartisan group agrees to revive auto bailoutCompromise to speed emergency loans to Big Three Detroit carmakers
WASHINGTON - Aides to a bipartisan group of auto-state senators said Thursday they have reached a compromise to speed emergency loans to Detroit’s Big Three car makers.
Republicans and Democrats plan to present the proposal at a mid-afternoon news conference Thursday. But it was not immediately clear whether the compromise plan could draw enough support to get through a reluctant Senate.
It temporarily would divert to troubled automakers money from a program that currently finances the development of fuel-efficient vehicles. The aim would be to cover their immediate expenses.
WTF?
THAT'S IT. WE'RE DOOMED. A BUNCH OF MORONS IN CONTROL.
CAN WE JUST SKIP THE REST OF THIS MONTH AND DECEMBER AND MOVE RIGHT TO JANUARY 20?
OBAMAGUY2: Look man, I asked you very nicely and respectfully weeks ago when you sprouted up here to GIVE ME MY NAME back. This is akin to identity theft: You've stolen my name and now you're trashing my good credit here.
I've been blogging here since the Iowa primaries and had to delete 50 some pages of my blog because another troll came here trashing me. After bugging you several times, what do you do? You add the #2 after my name. WTF?
Dude, I'm begging you to please choose a different name, one perhaps more appropriate to your thinking.
Here are some suggestions for a user name here:
2"ObamaHater""ClintonHater""I never voted for Obama but just like pissing people off on Obama's blog""I'm too lazy to think of an original name"
Something. ANYTHING.
Once again, I'm asking you nicely: DUMP obamaguy from your name.
Thank you.
Freakiest thing. It said..."I really did pal around with bad guys. I'm a socialist. I really love Hillary. I'm not going to change a thing. Joke's on you.! Bwahahahahaha!!!!!!!"
I had to turn it off. TOO SCARY.
Barack Obama ignited a revolution among Americans who are desperate and hungry for CHANGE.
We must ALL carry on the fight to CHANGE things. Each and every one of us must take an ACTIVE part as citizens, or live in the past, only to repeat it.
IT TAKES JUST TWO MINUTES of your time to tell someone who can actually make a difference – your elected officials. That’s right. I timed it.
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ENOUGH IS ENOUGH!
WHEN ARE WE, THE AMERICAN PEOPLE, GOING TO GET "BAILED OUT"????
PHOENIX, PHILADELPHIA, ATLANTA MAYORS WANT BAILOUT SHAREhttp://www.huffingtonpost.com/2008/11/14/phoenix-philadelphia-atla_n_143885.html
Bush Picks Federal Prosecutor To Oversee Bailout...
Freddie Mac Asks For More Government Money...
Senate To Discuss $25 Billion Auto Bailout Monday
Millions of hard-working Americans, including me, have watched helplessly as their home values have plummeted and the money they’ve saved for retirement in mutual fund-based IRAs and 401(k) accounts literally evaporated as a result of the financial meltdown caused by corporate greed and malfeasance, regulatory incompetence and malpractice, and an administration that chose to turn a blind eye and deaf ear to stemming the crisis more than a year ago.
Bailout funds are OUR money. We should be able to call the shots. If employees of these companies cry foul or are disappointed, TOUGH. JOIN THE CLUB. Welcome to the economy, stupid.
I am calling on every single individual elected to serve government to do the right thing. It’s time to CHANGE. It’s time to get tough. It’s time to STOP making the same mistakes, over and over and over again. Know WHO you serve: the American people.
While bailout bound banks are "promising" Congress none of the bailout funds will be used to pay bonuses, etc., WHY IN HELL are we to believe them, much less give them EVEN A CHOICE?
As a taxpayer who is funding this bailout, I say ANY BANK that gets a DIME from the federal government in bailout money IMMEDIATELY institutes a FREEZE on ALL EMPLOYEE salaries and bonuses. WE CALL THE SHOTS, WHETHER YOU LIKE IT OR NOT!
Do what every other American business has to do in an economic downturn: DO WITH LESS. WORK WITHOUT A RAISE. AND BE THANKFUL AS HELL YOU EVEN HAVE A JOB!!!!!!!!!!!!!!
I'm Mad as hell...
Banks Promise They Won't Use Bailout Money For Payhttp://www.huffingtonpost.com/2008/11/13/banks-promise-they-wont-u_n_143619.htmlWASHINGTON — Some of the nation's largest banks sharing in the $700 billion government bailout of the financial industry tried to assure lawmakers Thursday they are using the money to make more loans and help financially strapped homeowners avoid foreclosure.
Barry L. Zubrow, chief risk officer with JP Morgan Chase, told the Senate Banking Committee that a portion of the $25 billion capital infusion it received from the Treasury Department was being deployed to "expand the flow of credit" and to assist with rewriting residential mortgages for up to 400,000 families.
Zubrow and executives with Goldman Sachs Inc., Bank of America and Wells Fargo & Co. told the committee that that none of the $85 billion they have received collectively from the government is being used to pay salaries or bonuses.
Are there any lawyers out there brave enough to take this on?
Potential defendants (there are MANY):
Because this crisis was not averted, Americans have literally been hogtied by federal laws and the IRS from rescuing their retirement savings, forced to watch as they’ve been looted by years of incompetence and theft.
Our personal savings are literally evaporating.
The middle and lower class face the most unforeseen, uncertain future of their lifetimes.
More than 10 MILLION AMERICANS are currently OUT OF WORK.
Major American businesses are declaring bankruptcy.
And still, the BANKS and the WALL STREET FATCATS bailed out by the American people continue to wine and dine at posh resorts using BAILOUT MONEY, and are salivating at the BIG FAT BONUSES that bailout money will fund, just in time for the holidays.
OUTRAGE doesn't even BEGIN to express what I'm feeling today.
What about you?
I think most Americans are looking LESS for heads to roll than for our government to set a good example. I fear we will be holding our breath for a very long time.
When we worked for companies during severe economic downturns, or the companies we worked for had fallen on hard times, there were no bonuses. Raises went away. We all plowed our way through it, thankful to keep our jobs. Why these firms, especially THESE firms, or ANY businesses for that matter, cannot and should not be held to those same circumstances, defies any logic and is morally indefensible.
Lawmaker says AIG executive should resign after resort event
http://www.cnn.com/2008/POLITICS/11/11/aig.conference/?iref=mpstoryview
NEW YORK (CNN) -- A key Democratic lawmaker called Tuesday for the resignation of American International Group's CEO after the troubled insurer held a financial planners conference last week at a posh Arizona resort. Edward Liddy, AIG chief executive, said the conference educated external financial planners. The company responded that the event cost AIG very little and was aimed at boosting income. AIG had come under sharp criticism for sending executives on a lavish English partridge hunt and a weeklong retreat at a California resort after accepting an $85 billion bailout -- since grown to $150 billion -- from the federal government in September. "These guys, they don't get it," Rep. Elijah Cummings, D-Maryland, said on CNN's "American Morning."
Hard Times, But Big Wall Street BonusesMystery Shrouding How Much Of The Money Will Come From The $700B Gov't. Bailout
http://www.cbsnews.com/stories/2008/11/12/earlyshow/main4595179.shtml
For Wall Street workers still employed, there could be a hefty bonus in their checks next month. According to a report from financial news agency Bloomberg, Goldman Sachs, for example, has set aside $6.8 billion for bonuses, and Morgan Stanley, $6.4 billion. And the chairman of the House Financial Services Committee, Massachusetts Democrat Barney Frank, isn't happy. "These are people who lost enormous amounts of money," Frank observes. "How do you give a bonus to someone for having failed so badly as many of these people did?" New York State Attorney General Andrew Cuomo has opened an investigation into the Wall Street bonuses. He sent a letter to nine financial institutions, demanding "a detailed accounting regarding your expected payments to top management in the upcoming bonus season." Cuomo told CBS News, "These are tax dollars that are going to these institutions, and I believe the taxpayers have a right to hold the institutions accountable for what they're doing with their money." The bailout package specifies that the top five executives of a company cannot get a golden parachute, but doesn't limit compensation for any other employees.
