Just read the New York Times and guess what!!!

Just read the New York Times and guess what!!! Most of that Bailout money called TARP money which stands for Troubled Asset Relief Program, may not be givin to their troubled banks!

Instead! they are just rerouting this money to other assests instead of putting it into the banks which was the reason that taxpayer gave them this money in the first place. The reason, why give money over to something that the government might end up regulating or taking over alltogether? Also these banks are troubled and are not really good investments. So why not just funnel the money elsewhere? Right? Wrong! If these banks don't have the moeny they need then they can't lend money to in the form of loans.

When Chrysler was bailed-out the governemnt did not write a blank check to Chrylers owning company Cerberus, probably because the money might not have gotten there!

There are also more troubles with these bail-outs. The companys that have received this money have not keep track of exactly what they have been spending this moeny on. they claim that money is fungible and is entirely too hard to keep track of. If any other orgainzation, say (e.g. the Salvation Army) was too get money from the government and every dime was not keep track of there would probably be arrests.

This should all be keep in the mind of the American public and most certainly of the new Obama Adminstration. Hopefully the new President will put more regulations the spending and tracking of this TARP money.

OBAMA RIGHT OR WRONG?

President Obama said that this stimuluts package is necessary to get the country back on track, but my inital worry is do we really want this country "back on track?" I know that it is important for people to have jobs, but it always seems that the government always looks out for people with the most influence with the bailout that was bigbusiness and trickly down to upper middle class folks, with the stimilus package it is middle class people that need jobs, don't get me wrong I think that this is important, it is just that there are more important things like all the poor among us! What about them! This $800 billion dollars could go directly to OXFAM (this is an agency for American's homeless) and it could aleveate alot more suffering that whatever else it goes to, but then again I am not an economists so I may be wrong.

BETTER THAN NOTHIN

I thought that President Obama address to the country was very eloquent last night again I am just a educated citizen so I don't know that much but I am glad that this money will create jobs, and I am also glad that it is not going to Wall Street!!

The one thing that I have realized in my following of the bailout was the huge populist support against this massive spending plan it makes me think just how much the government is disconnect form the people be that good or bad. 

ETHICS?

The bailout really bothered me as a ethical human being, but I am not an economist, so I cannot give much of an economical defenses of my position than to say that there were a lot of economists that signed a petition to stop the bailout so there was some intellectual merit to this. Ethically this bailout was a disaster, any ethicist worth his salt would not agree that 700 billion should be spent in in another was except to end hunger and poverty. It is interesting to were our the elites priorities are. 

DEMS. VS. REPUBS.

I think that every one would agree that the stimulus package is alot more helpful to members of the general public like myself than the bail-out this seems commonsensical. I mean the government is going to give money to build public works projects, this is alot like FDR new deal program. But it is interesting to think of all of the Democrates that voted for the bail-out package. I am not a poltical scientists, but I always thought that Democrates were more interested in spending on domestics or social programs not programs intended to help big businees, this may go to show you just how much both parties are controlled by business. Then again I coul be wrong.

I am taking a definite progressive approach to this blog and for that I apologize in advance to those conservatives out there, this is the topic that has gotten a lot of attention recently and I thought was important to cover so here we go!

Thanks every one for taking the time to log on to my Blog. This is a new experience for me so bare with me as we start this new journey together. 

Thanks, 

Mitchell