TARP: Wall Street paid out $18 billion in bonuses to executives and valued employees last year, with most of that coming after the companies recieved TARP funds. I don't know too many industries, but OB/Gyns in the USA recieved in the ball park of $7.5 billion in compensation in 2008-- that's all Ob/Gyns put together, total compensation and not just "bonuses", and Medicare and Medicaid have decreased reimbursement for services in each of the last five years. Outrageous.
The TARP was initially set up to purchase "troubled assets" and we remember that it morphed into this idea by Paulson and Bush to inject funds directly into banks by buying preferred stock; those funds primarily went to pay out bonuses to follks who make too much money anyway. Although I try to be positive about the motivations of the govt and their buddies on Wall Street, this smacks of cynicism.
Obama:
WTF was the point of Obama going to the Republicans and asking for their support and giving in to their demands about the stimulus package? Not only did they all vote against it-- every single Republican representive-- but then their leadership got in front of the cameras and gloated that they voted against it and they're proud. Assholes. The only "hope" I have for Obama is that he grows a pair some time soon.
I would have liked to see our president say, "Fuck you. Not only only can you all go to hell, but I propose that we increase the budget outlay for contraception for poor people and double the sod on the Washington mall." I can't help but think that's what Hillary would have done.
I hold the Republicans responsibile for the need for this stimulus bill due to their lack of regulation of the financial markets... and don't even give me that bullshit castigation of Fannie and Freddie. Most mortgages in this country are not originated by Fannie and Freddie. The executive branch decided to pull all the regulation of the markets, full stop.
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