Geithner preparing overhaul of bailout

YES we should ask for it back! In fact we should demand that there be an accountability and an investiagation of where OUR money has gone. It's very interesting that the banks and brokerage houses who got the first part of the bailout money have lobbyists that pushed the Republicans to vote to give this taxpayer money to their buddies....because the money investors and lending interests were the supporters of the majority of Republican elections.

Face it. The Republicans and the Democrats are in the pockets of the lobbyists. They could care less about us and our needs. I hope, with all my heart, that this type of governing rapidly changes under Mr. Obama's watch.

No more national welfare programs.  This new stimulus plan sounds a lot like "the fundamentals of the economy are strong" we just need to keep dumping money into it until the problems disappear.  We need real restructuring.  The overall business model in this country is defunct.  Don't give me a handout.  I want a job.  So bring the jobs back, get rid of illegal workers in this country, and if giving money is the only way the government knows how to fix problems then subsidize wages so that every full time worker in this country can afford the basics to survive.  Let's not burden our future with bad debt that will be shared by everyone.  That just isn't right.

I think you will find it difficult to find out who voted for what.  The bottom line is that regardless of party affiliation, anyone holding office has contributed to this problem and blundering resolution attempt. Accordingly, they should all be removed from office without question during the next election.  It is really too bad that election timing didnt allow this in 08 - TIME TO TOTALLY CLEAN HOUSE!

They did!

Total 2008 job loss: 2.6 million

Annual loss is biggest since the end of World War II. Payrolls shrink by 524,000 in December, and unemployment rate rises to 7.2%.

By David Goldman, CNNMoney.com staff writer

http://money.cnn.com/2009/01/09/news/economy/jobs_december/index.htm

Obama team plans bailout overhaul

President-elect's economic team considers the expansion of the $700B bailout beyond Wall Street.

By Jessica Yellin, CNN

January 9, 2009: 9:40 AM ET

http://money.cnn.com/2009/01/09/news/economy/bailout_overhaul/index.htm

A sobering look from humankind will not come about until recognition that there is but One God and apart from Him humankind nor its ‘questionable’ humanity can do nothing, absolutely nothing but fail. There are no stimulus packages that will ever supersede the fate of humankind brought upon it! There are no Presidential or Congressional mandates governing the Will of God or His prophetic Word that humankind and its humanity seeks to silence. However, there is something that can be done unfortunately humankind in its totality will never submit to doing because it would require admitting that humankind is not supreme!

Wherefore God also gave them up to uncleanness through the lusts of their own hearts, to dishonor their own bodies between themselves:

Who changed the truth of God into a lie, and worshipped and served the creature more than the Creator, who is blessed for ever. Amen.

For this cause God gave them up unto vile affections: for even their women did change the natural use into that which is against nature:

And likewise also the men, leaving the natural use of the woman, burned in their lust one towards another; men with men working that which is unseemly, and receiving in themselves that recompense of their error which was meet.

And even as they did not like to retain God in their knowledge, God gave them over to a reprobate mind, to do those things which are not convenient;

Being filled with all unrighteousness, fornication, wickedness, covetousness, maliciousness; full of envy, murder, debate, deceit, malignity; whisperers,

Backbiters, haters of God, despiteful, proud, boasters, inventors of evil things, disobedient to parents,

Without understanding, covenant breakers, without natural affection, implacable, unmerciful:

Who knowing the judgment of God, that they which commit such things are worthy of death, not only do the same, but have pleasure in them that do them. [Romans 1:24-32 cf. Leviticus 20 (vv. 9-21), Deuteronomy 22 (vv.5, 22), etc.]

No matter the argument, translation or interpretation the meaning remains the same!

King James Bible
Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.

Bible in Basic English
Be not tricked; God is not made sport of: for whatever seed a man puts in, that will he get back as grain.

Young's Literal Translation
Be not led astray; God is not mocked; for what a man may sow -- that also he shall reap,

Geneva Study Bible

{6} Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.

(6) He commends liberality towards the poor, and first of all chides those who were not ashamed to pretend this and that, and all because they would not help their neighbours, as though they could deceive God. And afterward he compares alms to a spiritual sowing which will have a most plentiful harvest, so that it will be very profitable: and compares being a covetous miser to sowing carnally, from which nothing can be gathered but such things as fade away, and eventually perish.

People's New Testament

6:7 Be not deceived. Men often are.

God is not mocked. They do fancy that God may be mocked. The immutable law of the spiritual kingdom shows that he is not.

Whatsoever a man soweth, that shall he also reap. A law not only of the vegetable world, but of our bodies and spirits. Habit is only an illustration of this law. The delirium tremens on the one hand, and the purity of the aged saint on the other are due to the action of this law.

Geneva Study Bible

{6} Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.

(6) He commends liberality towards the poor, and first of all chides those who were not ashamed to pretend this and that, and all because they would not help their neighbours, as though they could deceive God. And afterward he compares alms to a spiritual sowing which will have a most plentiful harvest, so that it will be very profitable: and compares being a covetous miser to sowing carnally, from which nothing can be gathered but such things as fade away, and eventually perish.

People's New Testament

6:7 Be not deceived. Men often are.

God is not mocked. They do fancy that God may be mocked. The immutable law of the spiritual kingdom shows that he is not.

Whatsoever a man soweth, that shall he also reap. A law not only of the vegetable world, but of our bodies and spirits. Habit is only an illustration of this law. The delirium tremens on the one hand, and the purity of the aged saint on the other are due to the action of this law.

Obama will have to get the bailout. Without it he can't raise taxes because no one has any money to pay a tax increase. He is not doing this for the country or economy, but for the Party. They have to have money to spend and that means raising taxes, but you can't do it if the everyone is going bankrupt.

Watch, He will get the bailout, the economy will stabilize in the next 2-3 years, and then he will raise taxes.

Interesting that Obama was Mr Wonderful to his party until he tried to get money they want control of.  Even more interesting that the new "Treasury Secretary is working day and night on the problem"  when all they ever needed to do was give the money back to the taxpayers.

Now you hear people wanting to throw out the politicians in DC - after they got re-elected for another term because the majority of them were Democrats and everyone blamed the Republicans for all this mess.  Well, guess what, I voted against them this last time so someone else better get their heads on straight and get these fools out of there. 

First you have to realize that the Fed Reserve is running the government, not the government running the Fed Reserve!  The top politicians all belong to the CFR and are pocketing all the interest off the Natl Debt........the higher they drive it, the more they are making!  Second you have to realize no major politician gets in office who does not belong in either the Democratic or Republican slots on your ballot.  So screw them and vote Independent.  Go change your voters' registration to Independent and watch their faces when the figures come out that their parties have lost large numbers of voters.

Obama will get this bailout money because the politicians want to more interest off the debt but it won't take more than one year before taxes are raise to an all-time high on every thing we buy because they'll add a Fed Sales tax on everything.

I thought the money was actually a loan anyway, not a grant. all were supposedly just like the ones that went to GM and Chrysler.

I know the Aig money was supposed to be a loan. AIG is one company that i worked with in insurance and financial services. They were supposedly looking to sell a couple of their subsidiary companies to pay back the loan. The money was initially to meet their short term obligations which was necessary due to money lost in sub prime mortgage investments. As to whether it happens, or not, I'll let you know. One of the "bailed out" companies will have to be the first one to pay govt back, otherwise they'll play a little childish game of "I'm not gonna pay mine back if little Johnny doesn't pay his back."

No, I was under the impression that the Democrats opposed the bailout of the financial sector, and that Bush somehow passed the bailout without the consent of congress.

I agree there should have been some restrictions, like no bonuses for CEOs etc., but I don't think anyone wants the banks to start making NINJA loans just to simulate the housing industry.

I think that the heads of any company, corperation or what ever who runs the business into the ground should be out on their tail, no parachute, golden or otherwise.  Their salary and bonus should be based on performance.

The administration did put in restrictions for CEO pay.  I dont remember the actual details but none of the money was distributed in the way that called these restrictions into play.  It was another inserted one-liner that exempted the CEO's. Can anyone help me out on the details?

On the day it was passed Bush put the one liner in the bill that with certain conditions, they CEO's could still get their bonus packages.

Honest Politician = an Oxymoron

Can someone help me out here. I thought that the money going to AIG and CITI was a loan that needed them to pay back in 5 years or else they would be paying some high rate of interest on it. It not like we gave these companies this money, they need to pay it back. Please someone respond, am I right????

Very much Yes, in principle! - But I believe, in practice it never happens that way! ... "In the end" and when time comes they say, who will monitor whether the loan is returned or not? - because  (as they will say), "Oh, that is too expensive to monitor it and so it's not worth. So, we can presume that it has been returned!" - That is how these things are done with Big Money and at the "High Level", but not the way a common man thinks or his ethical stance demands! - In other words, the money that is spent is spent, even if it is loan  We too have a very short memory to remember these things.....  

oi812 and an impressed citizen, see my post #1.8.  I know what AIG reps told me. As to whether it happens, citizen is right about the monitoring.

you are correct, Jeff in vegas.

I think there's already been too much "done" by congress and president and pres-elect looks like he wants to do even more.  I lived through the gas crisis in 73 and 74 and people thought we'd have to go back to horse and buggy. I saw the double digit unemployment, interest rates and inflation rate of late 70s and early 80s. I've been in financial service business since 1986. I saw the 500 pt drop in Dow in 1987 which point wise is smaller than some this year, but it was a 25% drop in one DAY. Many thought the world as we knew it would end shortly at that time.  Economy was stagnant from about 1992 through 1994 (part Bush 1 watch and part Clinton). Economy in mild recession starting early 2000 (clinton watch) worsened after 9-11, then started improving and moving upward through most of 2007.  On downturn now (obviously). 

Economy goes through cycles which seem to happen periodically no matter who is in office. Based on my experience, politicians overreact when economy not doing well. They seem to want to "prove" to electorate they are worth their salary.  IMHO, Congress and president have completely overreacted this time, and continue to overreact. If you let the free market sort things out, it will correct itself. 

I can tell you one thing I'm totally opposed to, that's bailing out individual mortgages. my home paid for and would make me feel like a complete fool for following the written provisions of my mortgage by paying it back in a timely manner.

/agreed on the mortgage bailout. If they are going to do that, I made a really bad house purchase in S Cal in 1990 and saw the value of the home drop 25% resulting in my taking a very large 6 digit loss when I sold it in 95. There was no talk of a bailout back then. If we are going to do a bail-out- can we make it retroactive so I can recoup that loss? and come to think of it , I made a couple of errors in some stock purchases and of course , the deduction I could take on the loss was pitiful in comparison to the taxes I made on the gain the year before, can I get some help for that?

Heck, when I was a kid there was the money I spent on that date that didn't quite work out to expectations, can I get a refund on that also?

It used to be real easy.  Here's what I've figured out were the major differences in the past.

Democrats want lots of social programs for the poor, and impose new taxes to pay for them.  Democrats want the government to provide for them. They favor abortion rights, but oppose the death penalty for criminals, since everyone can be rehabilitated if enough time/money is spent on them.  They are union supporters.  They favor bills that benefit people who do not work and union workers.  They do not think the Constitution should be taken literally, since it was written a long time ago & things have changed.  Democrats are in favor of violence, sex and using drugs being allowed to be shown in movies and on TV (and claim it does not lead to children performing any of those acts), but are against people being shown smoking cigarettes in those same situations because kids might see it and decide to smoke.

Republicans want to cut down on social programs and reduce taxes spent on them. Republicans want citizens to be self-sufficient. They oppose killing living fetuses, but are for the death penalty for heinous criminals. They are not pro-union, since they favor businesses. They favor bills that benefit business owners and corporations.  They think the Constitution should be followed word-for-word, unless amended.  Republicans are against sex, drugs, and violence being shown wherever children might view them.

Used to be easy to tell the difference.  Republicans usually had a lot of money, while democrats didn't.  Democrats hated the republicans for having money.  Republicans hated democrats for not budgeting their own money better.

Democrat motto:  'tax and spend as fast and as much as you can'.

Republican motto:  'screw the poor by cutting programs'

Now both sides seem to think screwing the public is the best policy.

agreed, wildwonderful.   I defended Bush for almost 7 1/2 years, but I've said numerous times on Vine, that he must have been drugged by pelosi and Reid, or else they just went out together and got drunk one night and decided to see how much money they could spend his last 6-8 months in office.

This was in no way shape or form, a fiscally conservative republican idea for bailouts. And for those who were against the bailout, please remember: The MAJORITY of demcrats voted in favor of $700 billion bailout (plus about another $150 billion in earmarks).  while the MAJORITY of Republicans voted AGAINST the bill. Again if you didn't like the bill, take that memory to the polls in 2010.

YOu can check your own senators or representative's voting record to make sure you're voting the way you feel if you want. Some dems did vote against and some Republicans did vote for.  Cornyn, one of my Senators from Texas voted for it and I DO plan to remember that.

You're a genius, Mr. Wonderful! If only it was this easy . . .

Yes, I'm with you but how do we make those changes with the Mafia running things.

Has anyone connected the dots on things?

Connect these dots.

Chris Dodd our trustworthy Chairman of the Bank / Finance Committee which oversees the Mortgage Industry was able to secure several Mortgages for himself with Interest rates well below what the American People (Democrats or Republicans) could obtain for themselves.

Mr. Christopher "The Crook" Dodd said he didn't know he was getting Sweet Heart Mortgages. NO! Remember, he's only the Chairman which oversees the Mortgage Industry.

Here's where it gets good!

Obama purchases prime property for far less than its market value from a CONVICTED FELON. That same CONVICTED FELON that was one of his campaign fund raiser. And it gets better, the Convicted Felon is also Blagojevich's Campaign Fund Raiser.

WOW! What a Coincidence!

Both Dodd and Obamavich used their Public Offices to Personally Gain Financially.

In Case you aren't aware,   THIS IS A CRIME!

This should outrage every American (Both Democrats and Republicans) out there.

Both of these cases are such blatant uses of their Public Office for Personal Gain, it should anger even the Liberals.

But no, he's our guy and he's in, we won and we don't care that they are crooks. Because they are our crooks and they are gonna make things better for us.

GOOD LUCK!

We'll ask you how you feel in about 6 months! And we'll know how you really feel in 2010 when you start voting your crooks with their 8% approval rating (Far less than Bush) out of Office.

The last Stimulus Package didn't work, nor will this one, unless you are looking to increase lottery sales, beer sales and drug sales.

This Stimulus Package is nothing but welfare!

These Politicians, Billary, Bill and their side kick Obamavich (By the way, which one is going to take the Oath on the 20th?) have absolutely no idea how to fix this crisis. They keep saying only Government can fix it.

Folks we are being duped like nothing seen before.

Both Republicans and especially Democrats had better wake up!

WILDWONDERFUL - I agree with you and say that you need to run for President.  |I like your plan and it would work.

Yea that is good. Things such as education and the pell grant for example. They are wasting millions of dollars handing out pell grant funds to students who then get refunds to blow it as they wish, yet students who get scholarships have caps on their funds and do not even get enough to pay for their books. I asked the school this morning, if I stopped working, could my daughter get a pell grant? she got scholarships for being smart, yet others do not have to do anything but have a struggling income to get pell grants. It is unfair and stupid. I say CAP Pell grants. I can tell you that would save the government MILLIONS of dollars if they tightened their belts on those educational funds.

As it seems to me, nobody really knows what to do. So, different parties have their own solutuion offers. I hope finally they will design something working.

You said, "Does anyone really believe"! Absolutely, those who don't pay taxes and are going to get a wind fall.

Better get extra help at the Lottery Lines - there I created jobs!

Hell no it isn't going to work!

You can't stimulate welfare recipients and expect good things are going to happen.

What are all of you going to do with your extra $10 or $20 a week? Buy a car, a Big Screen, New Computer, how about that $5000 vacation you've been dreaming of?

Hell just charge the balance! Put it on one of those zero percent interest program! How about one of those 7 year car loans.

WOW! We're on the road to recovery now!

See you in the Lottery line - oh sure bragg, you're one of the lucky ones who got a Lottery Clerk job! Great!

The American People Better Wake the Hell Up! Both Republicans and Democrats!

No it won't work.  But Washington wants us the American people to believe that it will work.

But there are to many people that will listen and believe just because Obama and the Democrats say so.

I have been calling mine

"Honest Politician = an Oxymoron".....  you must have meant to say, "Honest Politician = the impossible dream"

The new administration and the old congress will work together to help out the common taxpayer.  By taking a little more of our money for taxes. Then we won't have to worry what to do with it, save it or spend it. 

I agree with you djohnson. The interest rates are absolutely killing MY CHECKbook.. and all this paying interest up front on home loans? and jacking interest rates up on credit cards if they decide they want to? it is highway robbery...

If you gave $20,000 to every taxpayer, every non-tax payer in the country would want their $20,000.  Most likely, the non-taxpayer is more likely to get the help rom the government than the taxpayer. I think that is what is referred to as redistribution of wealth.

TXmom, as I understand it, people did spend their stimulus checks on paying bills, which is being blamed for why the stimulus didn't work. I think it was too little too late, and a total lack of understanding just how serious the economic situation was, but whatever. It's our government at work. Remember it took the government almost a year to figure out we were in a recession.

The problem is people have over extended themselves. Much like Oprah gaining her weight. The answer for her is diet and exercise. The answer for our country is tighten your belt and ride this thing out.

StormAZ100...It took massive defaults in the very programs that Congress protects through legislation to act. They were warned, they were given evidence, they continued to feed the greed through Fannie Mae and Freddie Mac, to protect their own interests and cronyism. The major players in Congress need to be sidelined and investigated. Barney Frank is the first on that list.

Please cite your reference that most spent stimulus on bills...Hopefully by bills you mean playing catch-up on Home loans and not credit card debt. As I understand it people were placing the stimulus everywhere but their mortgage because they were waiting for a different "gimme" remedy to deal with their mortgage defaults.

The people who really have been injured in this whole greedy scam are those who needed access to re-finance due to job loss or illness. They are the people who would spend their stimulus to save their homes and equity. Those who lied to get a home or more home then they could afford to own or maintain are not going to give an inch of free money to support what they have been offered as an entitlement. They may pay down their credit card debt to show payment but odds are they went out and charged again for something fun.

There will be more damage coming from this immoral freak of nature. Can you believe the idiots in Assachusetts keep electing this queen. He is so disgusting. The only thing that comes out of his mouth is more taxes, and of course sperm burps.

TO: rgarrett

As an Ex-cop Sgt. who had a team of Detectives regarding many issues, one of which was homo arrests in the City, you are killing me with "Sperm Burp".

I've arrested a number of these fruits while an officer. Haven't heard that term in years.

Have a good one!

SO what do we do!  Here in Nevada we are in the process of trashing all the leadership. Yeah that is right Sue you are next!

You guys need to get rid of Harry Reid, he has done nothing but sold Nevada down the tubes for decades..

Paul,

First of all, we have to recognize there is a problem, which is an understatement!

But convencing those who voted for Obamavich will be a tough task. Because they bought into his "CHANGE" idea. Which if any of them had a brain, would see that this guy isn't even in office yet and we have the same old Clintonites back at the Helm, but this time we've added the Illinois crime machine.

Clintonites + Illinois Crooks = CHANGE? Give me a Break!

Who created this crisis and most (99.99999%) of the problems we face, surely not the American People, Democrats or Republicans, Liberal or Conservative, but our good old Trusworthy Politicians.

And guess how they always want to fix the problem they created in the first place?

First, they need to vote themselves a raise (Even with Only an 8% Approval Rating), then they raise our taxes. That's right, take our money to fix the problem they created to begin with.

You talk of 535 corrupt memebers of Congress. Like who are you speaking of? Here's a few! I don't have all week to list the others.

Maybe Dodd, Mr. Chairman of the Banking / Finance Committee - the same committee that oversees the Mortgage Industry. That same Industry that gave Dodd a Sweet heart Mortgage deal with rates far less than any American could obtain, Democrate or Republican. Mr. Chairman, where are the American Peoples 3% mortgages?

Or how about William Jeffereson with the $90,000.00 bribe money he kept in his freezer which was seized by the F.B.I.

And finally, Obamavich purchasing prime property from a Convicted Felon. That same Convicted Felon was one of Obamavich's Campaign Fund raisers. That Convicted Felon was also Blagojevich's Campaign Fund Raiser. Both from Illionois, Wow, what a coincidence!

As a Business Owner in the Commercial Lending Business, I have yet to meet or do Business with any Developer, land Owner or investor who is willing to sell prime property for far less than its market value.

I ask you Liberals, why was Obamavich so Lucky? Do you think maybe, just maybe, it was a Political Payback / Favor / Bribe being paid by his little Convicted Felon Fund Raising buddy Rezko?

Let me hear your liberal Explanation of this One.

Folks, we are being lied to and taken for fools, at least the 52% who voted for Change.

C H A N G E = Come Help A Nutjob Get Elected!

SAD! SAD! SAD!

WHAT THE HELL ARE you talking about accountability!!  The TARP was our only hope and that was last year and what did I hear on the radio from NPR of all sources is:

THERE IS NO ACCOUNTABILITY for how the 350,000,000,000 you and I will have to pay for was used!

NONE! that is how our government works and you are HIGH thinking other WISE!

Good point, Everyone.  Failure is a necessary part of life.  However, it doesn't jive with modern liberal mentality, which ultimately strives for a society of mediocrity by uplifting failures and downplaying or even tearing down true success. 

How about we all take the day off - call in sick and do not spend one nickel. How about all truckers just stop in the middle of the highway.

We need to protest their crooked ways.

Let's hear some Liberal ideas on how we fix this economy, besides handing out Stimulus / welfare checks.