Bailout to Banks were bigger than their Total market price

[disrupter]

We paid more in bailout money than the market says these companies are even worth.

<groan>

Probe: Govt. Bailout Exceeded Market Value of Firms’ Stocks, Assets

A congressional investigation has found

the Bush administration overpaid tens of billions of dollars in its purchase of bank stocks

and assets under the Wall Street bailout. The Congressional Oversight Panel says the government received assets with a market value worth

at least $78 billion less than what it invested.

That translates to a roughly thirty-cent loss for every dollar the government spent.http://www.democracynow.org/2009/2/6/headlines#3

[Dale escondido]

We paid more in bailout money than the market says these companies are even worth.

<groan>

Probe: Govt. Bailout Exceeded Market Value of Firms’ Stocks, Assets

http://www.democracynow.org/2009/2/6/headlines#3

Thats what they do best.
If goverment was good at business we would all probably be fans of,
the post office
dmv
irs
workman comp board
social security admin.
hell even prisons should turn a profit.

[SeedyROM]

Dems and Reps rushed in and Obama aided the process pandering the House floor.

Obama hired Tim Geithner, one of the masterminds of the wallstreet bailout who agreed to the numbers that wallstreet asked for. These people do not even know what they paid for. Dumb money in charge of our futures!!

fyi, Bush was a lame duck rubber stamping a bailout that Pelosi, Reid and Obama said was
NEEDED URGENTlY!!!!!!!

[Smurf-Herder]

It pissed me off when I heard about it.

Some caller on the radio really expressed the sentiment well:

"The people in Washington expect us to be more responsible with our money ... so that they can be more irresponsible with our money?"

Can't we demand the over-payments back?

Considering the circumstances.

[disrupter]

It is Bush & Paulson who fanned the flames of hysteria,

saying the entire banking system was facing immediate collapse.

In fact it was mostly the investment banks that had indulged in cavalier & reckless behavior that were the most at risk.

[Smurf-Herder]

Rushing TARP through and finding these results after the fact, makes me that much more apprehensive about rushing through Obama's Stimulus plan, the way he says we need to.

[Mr, gone]

I never had a good feeling about this whole 'Bailout' situation from the start. This information validates my suspicion, that there is something disgustingly corrupt going on within the banking system.:disbelief:

[SeedyROM]

I never had a good feeling about this whole 'Bailout' situation from the start. This information validates my suspicion, that there is something disgustingly corrupt going on within the banking system.:disbelief:

Agreed, the banks are corrupt as is Obama and all his crooked men and the democratic party. They are proving they are more foolish and more crooked than reps.

[disrupter]

Does anyone remember the original 3 page proposal?

& Paulson's Omnipotent, god-like powers clause where absolute unaccountability was built in?

I think Obama's stimulus plan goes into a lot of pre-existing programs, so they do have some accountability built in,

which is different from the reckless banking bailout welfare hog-wallow.

[SeedyROM]

Does anyone remember the original 3 page proposal?

& Paulson's Omnipotent, god-like powers clause where absolute unaccountability was built in?

I think Obama's stimulus plan goes into a lot of pre-existing programs, so they do have some accountability built in,

which is different from the reckless banking bailout welfare hog-wallow.

Do you remember the vote count for the bailout that started on 3 pages. Dems voted 2 to 1 in favor. Obama doesn't have a plan, he did not write on page nor suggest elements of this plan. The snakes in the House came up with the plan that is 58% pork, that's a lot of pork. Remember, the wallstreet bailout had a lot of Dem pork too, so call it legal bribes others call it a crime.

What accountability are you speaking of, the plan is a wreckless spending bill??