Where'd the bailout money go? Shhhh, it's a secret

Considering the slimes in charge of the financial sector, is this really a surprise?

 

I'm really not sure who Matt's lecturing here.

 

I don't think anyone here was in favor of the bailout without strings attached.

 

It's bad enough that the government got involved and loaned these guys money. But telling them what to do with it? No thanks. Keep big government out of the markets.

 

We have been duped for so long!
The whole frenzy and rush to finalize a deal is an age-old scam.

 

This is disgusting, but in no way am I surprised.

 

Generally, threads like these are ignored by those who should be responding. Without the bank bailout, we would all be using barter by now, and I would have to rake the leaves of the farmer to get a dead pig, then I would have to wash the windows of the beekeeper for that honey glaze.

Luckily, we sent the billions to the banks so that the greenback can still be used to exchange for goods and services. Whew.

You are just being nosy. It's too complicated for your feeble mind to understand that the banks are just sitting on the money in anticipation of further writedowns - Alt-A arms are resetting soon.

 

Silly me. I thought it was just like when Burns and Homer made the mistake of letting Fidel hold the trillion dollar bill.

"Que?, What trillion dollar bill?"

How could we have simply bypassed these lampreys?

 

Me.

I was thinking of starting an "oops" thread on this very topic. At the time, I didn't like the bailout deal, but I disliked the alternatives more. Now, I think Congress should have shot down the 2nd bailout bill and made TPTB come up with a 3rd bill that was stronger.

The endemic lawlessness of the Bush administration isn't helping here. I mean, they've broken a few direct instructions from Congress. I don't know how you deal with that. The smartass thing to do is say, we have a saying about that in Tennessee ha ha ha. But the nature of our system is that the executive branch has to, well, execute things. Realistically, what were Congress' options?

What a mess.

 

Those that spend their money wisely will succeed. Those that do not will fail or have to come back for more with their tails between their legs. Market forces are the best!

 

But they WONT have their tails between their legs. They wont be ashamed of being on welfare at all. They will stand tall and demand their due for the good of the rest of us. Then they will refuse to account for their usage and will give themselves massive bonuses. Again. Any which try to double dip should not just be allowed to fail but should be nationalized and set upon by DOJ accountants. Hell, Id do that to all of them anyway.

 

I saw on Cable news last night. Had a YouTube clip: Instead of for 3 cents per day you can support this child advertisement. It was for 3,700 dollars per day you to can support you CEO. It was a spittin image I tells ya....

 

How about this. In Israel accountants are considered offocers of the court, like lawyers. They have legal responsibility beyond that to their employers. Would that work here? Wouldnt it mean the , to name one, Citibank accountants could be subpoenaed to bring the company books to court or Congress?

 

I don't think I can remember anyone [here] who was in favor of the bailout as it was executed. Who exactly are you directing this at?

 

Yes it would. CPA's won't voluntarily disclose anything, they would just withdraw from a poison job or give a qualified or adverse opinion (In theory - see Madoff or Enron). When subpoenaed, they would be required to turn records over to the overseeing body, be it the courts or the toothless giant that is the SEC.

 

There is no need for accountants to be considered "officers of the court". There is no "client-accountant' privilege, and the information an accountant has can be subpoenaed in federal courts and most other jurisdictions. In a few states, notably California which has a state constitutional right to privacy deemed to extend to tax records, the issues are occasionally a bit more vexing. But, in general, the issues faced by the US economy are not about the inability to subpoena information from accountants.

From lawyers? That is a different story.

 

I would be for those whom received the "bailout" by force. Not everybody who received money asked for it, or even needed it. But the treasury department forced it on them anyway. I am assuming this was so that future strings could be attached.

 

Iran invented the whole frenzy and rush to finalize a deal.