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Author Topic: Obama's Small Business Bill - What's lurking in the details?  (Read 1344 times)
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WhiskeyGirl
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« on: September 14, 2010, 09:07:51 AM »

Money for Wall Street?

We got no FOI in the healthcare bill, what's lurking in this latest bill? 

Get out of jail free card / immunity for Wall Street/Financial Wrongdoers?


Quote
Geithner Warns of Risk Of Washington Inertia

...

"If the government does nothing going forward, then the impact of policy in Washington will shift from supporting economic growth to hurting economic growth," Mr. Geithner said during an interview Friday, citing the example of nations which "shift too quickly to premature restraint" after a crisis, including the U.S. in the 1930s.

...

"We don't have unlimited resources," Mr. Geithner said. "We just don't think it would be responsible for this country, given the size of our future deficits, and given the substantial burden the middle class has been bearing over the past decade in particular, to go out and borrow $700 billion from our children so we can sustain those Bush tax cuts that only go to the wealthiest 2% of Americans."

more here - http://online.wsj.com/article/SB20001424052748703897204575488053602454926.html

How responsible is it to borrow trillions and send the money to stimulate the economies of China, India, Mexico, and other nations?  Foreign businesses?  Foreign workers?

Isn't there still lots of unspent money in the TARP?  Simulus/Recovery pot?

Why aren't politicians in Washington clawing back the AIG pass-through money? 

Providing a robust audit of the Federal Reserve and all their secret wheeling and dealing?


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WhiskeyGirl
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« Reply #1 on: September 14, 2010, 09:14:25 AM »

For some reason, AIG wants to exit...

Quote
American International Group Inc. and its government overseers are in talks to speed up an exit plan designed to repay U.S. taxpayers in full while enabling the giant insurer to regain independence, according to people familiar with the matter.

Quote
After the Fed is largely paid back, AIG can turn to repaying the Treasury, which is where the conversion from preferred to common stock comes into play. After its major asset sales are done, "AIG does not have enough cash to pay back the Treasury. As a result, there's no choice for the government but to position itself to sell off its interest to the private sector," says Angelo Graci, an analyst at Chapdelaine Credit Partners in New York.

http://online.wsj.com/article/SB10001424052748704190704575490162065052900.html?mod=googlenews_wsj

With all this money being repaid to the 'Fed' and Treasury, why does Obama need to raise anyone's taxes? 

What happens to all this returned money?  Paying down the debt?

Political slush fund?
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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