congress and the banks

Congress put on their mad face yesterday. They didn't convince me. It seems the banks will get more money and pass it among themselves. The news showed one guy who worked at one bank three months and received a 29 million dollar bonus. 29 MILLION of your tax dollars. Come on, please make it stop. Do you think they laugh all the way to the bank? All of them including congress.
Ray

The only thing as bad that I have seen is when they hauled the biggies from the oil companys in and accused them of rip off pricing when gasoline was around the 4 dollar mark.It went something like this: We think you are gouging the American public. No we are not gouging the American public,we have refining troubles,we have pipeline supply troubles,we cannot be permitted to build the refining capacity that America needs troubles,we have labor trouble in foreign ports,our profits are not keeping pace with the economy. O.K. now we understand,Thank You for stopping by today and have a good day. In my opinion,we have just seen a repeat of the same show with different actors. Mike

Yeah I agree. Congress at least could have got out their angry eyes.

Kevin

Lots of what they do is strictly for the cameras. (They accept their bribes....err...."Campaign Contributions" in private! )

Why did they let them run with the money without any stipulations the first time? It's there own stupid fault.

It was all hush money. We`ll give you this money with no strings attached, all you have to do is forget. Thats the way I see it.

It's my opinion that the money has been shifted to satisfy foreign debt holders.

There are 7 or 8 active lawsuits for information on where the money went and still to this day no one will come up with any answers.

About a year ago there where articles written that China might call the debt and crash our economy. Just the other day, China has said now they will continue to purchase US debt, read between the lines.

I have not herad that one. I thought mabe congress were protecting there personal investments and said, how much do you need.

I smell a rat!!!

efo141 wrote:Why did they let them run with the money without any stipulations the first time? It's there own stupid fault.

Thats' exactly the point. The banks didn't violate the law, they were compliant with the law.

The problem rests with congress. This is a dog and pony show for the public.

The feds have the bailout and need the banks to survive, the banks need the fed bailout to survive.

It's a marriage made in heaven. They will soon kiss and go on a honeymoon.

This is the pay no attention to the man behind the curtain show. The global economy has been based on inflated real estate prices worldwide for 10 years. No one wanted to be the one to end the party. Congress already knows what's coming, they just don't want to tell you. Real estate prices need to drop by an average 30%-40%. Some places (Ca., Az., Fla., etc.) will need to drop by 60%-70%. Ask yourself this, if banks offered 0% financing, would you go out and buy a house? I wouldn't at these prices and I don't think anyone else will either. When prices drop enough people will start buying. Right now, everyone is paying down debt or saving for the rainy days that are coming. The government can't force people to buy houses or spend money, only the market can do that.

The members of congress should be questioned about throwing money at the banks the first time around. Like did you honestly think the banks would do the the right thing with the money without any stipulations?

efo141 wrote:The members of congress should be questioned about throwing money at the banks the first time around. Like did you honestly think the banks would do the the right thing with the money without any stipulations?

The banks were FORCED to take the bailout.

Or to speak legalize, they were pushed and urged by regulators to participate in the "Capital Purchase Program".

Black_And_Blue wrote:

efo141 wrote:The members of congress should be questioned about throwing money at the banks the first time around. Like did you honestly think the banks would do the the right thing with the money without any stipulations?

The banks were FORCED to take the bailout.

Or to speak legalize, they were pushed and urged by regulators to participate in the "Capital Purchase Program".

So they didn't want the money? I did not know that.

efo141 wrote:

Black_And_Blue wrote:

efo141 wrote:The members of congress should be questioned about throwing money at the banks the first time around. Like did you honestly think the banks would do the the right thing with the money without any stipulations?

The banks were FORCED to take the bailout.

Or to speak legalize, they were pushed and urged by regulators to participate in the "Capital Purchase Program".

So they didn't want the money? I did not know that.

Many of them didn't. Some banks that were prudent didn't need it. They weren't leveraged out on their loans and had actual PAYING customers. Taking the TARP money would have cast a shadow on their business. Knowing this, Congress required all the banks to take some money so the public wouldn't know which banks were which. A shell game if you will.

If the public knew which banks took TARP money because they needed it, who in their right mind would leave their money in them?