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Discussion Starter · #1 ·
Uses for $700 billion bailout money ever shifting
Saturday October 25, 10:53 am ET
By John Dunbar, Associated Press Writer
Treasury tacks on uses for $700 billion bailout money with shifting economic winds


WASHINGTON (AP) -- First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.
Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.

Reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them.

Paulson must go!!!!!!!!!!!!!!!!!!!!
 

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Just remember the Democrats have controled congress the last 2 years so everytime you point a finger remember there are 3 pointing back.
 

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Everyone is wanting to point fingers of blame.
The blame goes to anyone who votes for an incumbant this election. They ought to all be voted out.
 

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Thanks for the "new opinion" Jim.

BTW you can see etoufools comments in advance at mediamatters.com.

I think he mixes the cool aid.
 

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How bout this you hit and run crawfool!

Frank: Agree to stimulus now or watch us throw money away later

posted at 3:20 pm on October 24, 2008 by Ed Morrissey
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Just in case the message hasn't quite gotten through to voters, Barney Frank reminded Republicans what one-party government would look like in 2009. Democrats want to escalate government spending in what looks more like a new New Deal while we face the consequences of entitlement explosion that the first one created. And if the GOP doesn't play ball now, they'll lose any chance of limiting the spending later:
Liberal-leaning economists made the case for several new and expensive spending programs as a House panel on Friday pressed the Democratic case for legislation to try again to jump-start the sagging economy.
Even though Congress is in recess, Democrats have held several hearings this week to make the case for a $150 billion or more economic stimulus measure to follow the $700 billion bank rescue passed three weeks ago. A round of tax rebates and business tax breaks passed in February was credited with giving the economy a modest boost over the summer, but fears of a protracted recession after the credit crisis have Democrats promising more. …
If Republicans continue to resist, said Rep. Barney Frank, D-Mass., Democrats are likely to rejoin the issue in January, when they expect party standard bearer Barack Obama to take the oath of office as president.
"There's no question the House will pass … a much bigger (stimulus plan) than we passed before," Frank said of a postelection lame duck session. "If enough Republicans in the Senate decide to filibuster it … then we'll just wait until January."
John McCain has apparently decided to make the divided-government argument in the final ten days. This could be Exhibit A. Without a check on a Democratic Congress in the White House, Frank and his allies will run wild on spending, creating massive new entitlements and government works programs, pulling capital out of the markets to fund it. Instead of having a chance at reforming Social Security and especially Medicare, they'll busily create an even bigger economic disaster.
Republicans need to defiantly answer Frank's extortion by running this threat in ads for the next 10 days in every close Congressional race. They need to ask voters whether they want to put government in the hands of people who want to take even more of their money to make government even bigger than it is now. If nothing else, it prepares the ground for 2010 and the next midterms.
Update: How will they pay for it all? Frank suggests a 25% reduction in defense spending - while we're at war.
 

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Discussion Starter · #7 ·
To clear the record I feel that Dodd and Frank's actions should be fully examined, as in the case of Republican Ted Stevens. Where any criminal action was committed I support punishment to the full extent of the law.
 

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To clear the record I feel that Dodd and Frank's actions should be fully examined, as in the case of Republican Ted Stevens. Where any criminal action was committed I support punishment to the full extent of the law.
Stevens is guilty. How soon do you think Congress is going to get around to that investigation? No one in the left media will touch it.
 
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