Wednesday, February 11, 2009

The Pot Calling The Kettle Black!

Yes, today executives from eight banks who received TARP funds are getting "called on carpet" to explain how they used about $160,000,000,000 of that money. This reminds me of the SNL skit on their news segment called "Really?" by Seth Meyer.

Let's see... congress presses banks to loan money to people who are unqualified even, to the point of forcing Fannie May & Freddie Mac to buy these bundled risky mortgages from banks. Congress allows the blackmailing of banks by community activist groups like ACORN, further forcing the banks to make a higher percentage of bad loans as payment for access into certain neighborhoods. The treasury department under Alan Greenspan keeps 'easy money' out there for people to borrow, while warning about 'irrational exuberance' of the stock market. And now congress is asking about a measly $160,000,000 of TARP funds (all of it borrowed)? REALLY? REALLY?

Congress, just yesterday, approved $838,000,000,000 "Stimulus bill, while the treasury secretary announces $2,000,000,0000,000 in NEW loans guarantees to banks. Now they want to grill a few executives about how they spent $160,000,000? REALLY? REALLY?

Just ONCE, I'd love to see an executive turn the tables on these pompous hypocrites in congress and ask them about how they are spending your grand children's tax money. I'd love for an executive to stand up and yell, "Truth! You can't handle the truth! Look in the mirror senator/congressman before you dare judge us! Get your own house in order before you accuse us of misspending money. Fire up the jet! I'm going back to work!"

How fun would that be? One can always dream!

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