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President Barack Obama Bashes financial Giants for Squandering Bailout Funds; Vows Crackdown

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posted on Jan, 26 2009 @ 03:42 PM
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Well something may be coming out of all these because right after Obama said that he will crack on where the Tarp money went some rats from B of A abandon their boat and resigned.

So something may be brewing and many of the big CEOs are getting scare.

Right now the CEO of Merry Lynch was caught on a million dollar renovation of his offices, now he even gave a public interview in CNBC in which he apologizes for the squandering and offer to reimburse the money to the company.

So I tell you people I think is going to be a lot of investigation on these people.



[edit on 26-1-2009 by marg6043]




posted on Jan, 26 2009 @ 03:59 PM
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Originally posted by marg6043
So I tell you people I think is going to be a lot of investigation on these people.



I surely hope so!

That is what it will probably take to make these big company CEO's realize that it's not only their companies money that they are throwing out the window anymore!

Time for them to "tighten their seatbelts and fly right"!



posted on Jan, 26 2009 @ 04:08 PM
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All the more reason for government to take over the business sector.

Because as we all know...THE GOVERNMENT DOESN"T WASTE MONEY!!!!!

This cracks me up...what a bunch of damn hypocrites!! They squander billions and billions of dollars putting us into debt beyond belief and all of the sudden they are all high and mighty! Why do you think this info comes out? As if Congress in any better? This is just to keep the heat off them.

Of course CEO's wasting money is ridiculous...but the government wastes FAR MORE than the CEO's have.

Give me a frickin break!!!!!!




[edit on 26-1-2009 by David9176]

[edit on 26-1-2009 by David9176]



posted on Jan, 26 2009 @ 06:26 PM
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Maybe, I didn't waste my vote after all. I voted for Him so I have the Right to complain when He doesn't come through. While I'm open minded enough to applaud His efforts here, I'm witted enough to read the fine print before I Applaud His efforts whole- heartedly. And I'm not aligned with one political party or the other, so, if I bash his character, it's because adversity has tested him and He has failed. Let's see how He scores on this test overall before we tally the results, shall we?



posted on Jan, 26 2009 @ 06:42 PM
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Obama is not without flaws he has surrounded himself with the same trash that cause the fall of the economic with their stupid policies during the Clinton legacy.

This trash will indeed influence the same BS that they were pursuing during their time more than eight hears ago.

So until I see actually something going down for sure I am just going to hope.



posted on Jan, 26 2009 @ 06:47 PM
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All these politicians complaining shouldn’t have voted for a bailout with no accountability in the first place. The Republicans really pissed me off then, for once I actually agreed with them and counted on them and they caved, they caved big time.



posted on Jan, 26 2009 @ 06:51 PM
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This money really isn't anyones, it's getting printed out of thin air when it comes down to it. If Obama pushes all that cash twords people with no money and just keeps making car/student/ect loans, we will be desroyed by inflation. The economy is going to keep sinking, America is making nothing and we owe HUGE sums of debt. Obama had his chance when he was still a senetor, he could have stopped the bailout, yet pushed it hard just like Bush and McCain. Stop trying to make a society that is based off giving conveniance to others. Instead we should be able to support ourselves without some "consumer mart" a few miles down the road. If losing your job means you can't eat, What the heck? Are you really going to trust the goverment to fix this?



posted on Jan, 26 2009 @ 06:53 PM
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Are folks starting to understand now that it is NOT the president's fault, past or the present one, it is the fault of CONGRESS and these CEO's of these banks who need a good swift kick in the behind.

Now where to start....thats an easy one.

Line up every single congress person who supported this bailout BS and take the biggest, fattest, hole laden, old fashioned school paddle and whack them a good one...a few times, with more than one paddle attached to a wheel tied to a motor with no off switch.

They want to act irresponsibly, then I say treat them like irresponsible little kids that need a good spaking.



Cheers!!!!



posted on Jan, 26 2009 @ 08:48 PM
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Originally posted by RFBurns
Are folks starting to understand now that it is NOT the president's fault, past or the present one, it is the fault of CONGRESS and these CEO's of these banks who need a good swift kick in the behind.



I believe you are wrong there.

Since nothing that was passed was vetoed by the president, and then made into law by the House and the Senate passing it without his approval, you CAN lay some of the fault on the president!

Veto


If the Congress overrides the veto by a two-thirds majority in each house, it becomes law without the President's signature. Otherwise, the bill fails to become law unless it is presented to the President again and he chooses to sign it.



I don't remember hearing about Congress overriding a presidential veto!

So, in my book, a president IS to blame unless he vetoed the bill and was overridden!

[edit on 1/26/2009 by Keyhole]



posted on Jan, 26 2009 @ 09:15 PM
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Originally posted by bodrul
reply to post by Keyhole
 


sad part is this isnt just in the US
back here the Banks who were bailed out are giving them selves bonuses

buch of *****

wounder if Brown will take a page from obamas book and say something here
since blair did follow Bush around like a poodle


The answers have all been on this website before. Tha bailouts happened like they happened because of one big underlying reason. I personally hope they track down that has been a part of this over the years. You will have to go to the archives to get the whole scoop. I believe this more every day as well as Casper over at Fourwinds.com although he is afool if he thinks themoneygoes anywhere but to the goverment. . There is simply no other explanation for the course our past leaders have taken.

World Reports.org

Once this has all been uncovered then NESARA (google it)

Many think this is just a pipe dream, but I think it is the only thing that gets out of this mess for good.

I know I am being cryptic but I am unconfortable spelling out all the facts myself.



posted on Jan, 27 2009 @ 12:41 AM
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I guess I'm the only one in this thread who thinks the bailout was probably the right course of action for our economy at this time. And I'm a Democrat. There's no absolute guarantee that it will work but it is better than doing nothing. Many other countries are also providing a stimulus to their economies.

There has to be more oversight of the stimulus funds to make sure the banks use them to buy up toxic assets and bad mortgages, etc. -- things that will help the average person. Things the bailout was intended to address. The corporate spending sprees are of course completely intolerable, but I've no doubt Congress and the president will put the brakes on these as they are being uncovered. Nobody on Capitol Hill advocates what the corporate piggies are doing at the trough, but these things are relatively small potatoes in comparison to the need to make the banks more accountable for how they are using the bailout money overall.

[edit on 27-1-2009 by Sestias]



posted on Jan, 27 2009 @ 12:47 AM
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Yes but is Obama going to actually DO anything about it.
Talking about it is fine, but arresting people is what needs to be done.
And I doubt he will go against his bilderberg masters and do such a thing.
So we will see what substance he actually has and if he is truly for honesty.



posted on Jan, 27 2009 @ 01:13 AM
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reply to post by BorgHoffen
 

If the offenders actually had the authority within their corporations to make these purchases they can't be arrested, although they deserve it.

It's possible to attach conditions to the bailout money which require CEO's to be directly responsible to Congress or maybe the Secretary of the Treasury. That's playing "big brother," something many Americans are leery of (with good reason) but it's an option.

Congress got the CEO's of the failing automakers to agree to work for $1 (that's one dollar!) a year, along with many other concessions. They can do that to Wall Street too if necessary and if it's possible this late in the game.



posted on Jan, 27 2009 @ 01:29 AM
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Originally posted by Keyhole

I don't remember hearing about Congress overriding a presidential veto!

So, in my book, a president IS to blame unless he vetoed the bill and was overridden!



Do you honestly think that if there was not much support for the bill in congress, that the president alone would attempt to pass it when congress could overide his decision?

True the former president is at fault too, but if congress was really keeping track of where all that money was going to go, and thoroughly studied the proposal..as they should with every bill, but they do not, chances are that this bail out would never had passed.

Some would say "well if they had not passed it, the economy would not be fixed"....I say..is the economy fixed after they got their nice Christmas and New Year's gift courtesy of joe n jane public taxpayer?

So who should take the rap for this blatant abuse of OUR tax dollars?

I say its congress. At least those of congress that rode along for the freebie ride to gather whatever lobby support they were going to get from it.

Point is...congress is not doing its job like they should be doing. And this is why so much of whats going on in Washington is so messed up.

President Obama is very limited in what he can actually do about it. He can bring things to light, but really, when surrounded by all these congress members and huge corporation CEO's and bank CEO's lining the pockets of these elected officials, they wont make it easy for Obama to expose the criminals and their dirty deeds.

The only real way for something to get done about it is for a huge massive public outcry. Flooding senator and representative's office mail boxes and petition them to death that we want accountability for that 750 billion. Unless we..the public demand it, it will be "business as usual" on the hill.

And we all know how "buisness as usual" goes.

How many times do we need to be rammed in the rear before we do something about it???

Take a role, write your elected offical. Visit them in their local offices. Let them know that we the taxpayers will not stand for this any longer.

Or we can all just sit here in ATS and moan and groan about the ramming and just complain about it in forums and blogs.




Cheers!!!!



posted on Jan, 28 2009 @ 06:52 PM
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Talk is cheap. Makes him look good. Some controversy in the process will certainly occur. Likely some who get bailout money are in some Illuminati disfavor and are being setup for take back.



posted on Jan, 28 2009 @ 09:59 PM
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Originally posted by RFBurns
Or we can all just sit here in ATS and moan and groan about the ramming and just complain about it in forums and blogs.




I'm not just pointing this post at you specifically, but I wish people would stop posting these kind of comments.

You would really be surprised at how many members actually are participating in our government and actually try/ or do, get their messages through to their representatives in D.C..

We are, mostly, on the same side, I must have read comments like yours 2 or 3 hundred times already.

Just because somebody is voicing their opinion here, doesn't mean that they aren't trying to get their voice heard elsewhere!

We are on this board to discuss things and share our thoughts and opinions, and that is what ATS is here for.

It is NOT a website that is here to change to promote one idea or another.

It is here for members to discuss or "debate" anything that is within the T&C of this website.

How far a member wants to go to get their voice/opinion heard should be totally up to them.



posted on Jan, 28 2009 @ 10:18 PM
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It is ironic that these extravagances are probably more directly stimulative of the economy than anything else these financial giants are doing. Face it the real problem is not this kind of spending, nor mortgage securities, but the massive black hole called derivatives.



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