Audit: Taxpayers lose $61B on AIG, auto bailouts

Audit: Taxpayers lose $61B on AIG, auto bailouts

news.yahoo.com

WASHINGTON – The Treasury Department is acknowledging for the first time that it lost $61 billion on two key programs designed to stabilize the economy after the largest financial crisis in decades.

The government is losing more than $30 billion on lifelines extended to insurance giant American International Group Inc., according to Treasury data released Wednesday in an audit by the Government Accountability Office. It also is losing more than $30 billion on rescues of struggling automakers...

(visit the link for the full news article)

Is this really any surprise to anyone? Certainly not to the 99% of constituents who contacted their representatives to oppose the bailouts. But since when do senators and representatives listen to the people? I highly recommend "The Creature From Jekyll Island" by G. Edward Griifin, which was written in 1994. Chapter two is titled, "The Name of the Game is Bailouts". Griffin was absolutely right. These trillion-dollar bailouts are the scam of the century.

news.yahoo.com
(visit the link for the full news article)

Lost? Define this term, by all means please..
lost? as in they cannot find $61 billion dollars??? or it wa msot likely lost"laundered)?

reply to post by ziggy1706

lost [lɒst]
adj
1. unable to be found or recovered

You know, like the $2.3 TRILLION that Rumsfeld said could not be accounted for by the DoD on September 10, 2001.

reply to post by GoldenFleece

You know, like the $2.3 TRILLION that Rumsfeld said could not be accounted for by the DoD on September 10, 2001.

No fair, you made coffee come out of my nose.... Not good.
Very, very funny.

You get a star for that!

Well I for one am extremely happy that I helped the government lost $61B. I just love going to work everyday and putting in a honest days work to bail out a bunch of yahoos that are to greedy to make their own company work. It makes me sleep better at night knowing that i get to pay crooked politicians with my sweat just so they can turn areound a spend god knows how much on expanding their greed.

end rant\ Sorry about that. I blacked out for a moment.

MessOnTHefED!

Holy Schmokes, Batman. There's only one solution to this problem....


Spend More Money!!!

Rocket Scientist Obama wants to extend the program and gobble up the rest of the TARP money.

AIG and GM and the US auto makers just retired on the 60B as they should.
They were wasted as any persons on the street that sees cars go bye.
About AIG being wasted must be known by now by everyone as well,
the ENRON of insurance.
GM and the US auto makers are the ENRON of car manufacturing.
Now we know, they got paid off, time to move on to a working
technology alternative.

It seems to me the current economic system we live in will only spawn imagined wealth from imagined wealth and the all the money in the world is less than the debt. Its like one big cash toilet but if you jump in you can eek out a crappy living.

reply to post by GoldenFleece


Senator Orrin Hatch described the few Democrats in power as having an "Arrogance of Power". No bipartisanship, it's our way or the highway, all the work is done behind closed doors, no negotiation, no public disclosure before voting. A complete dereliction of responsibility of duty to the people to the country! Their only concern is their unions, their contributors, the lawyers and sometimes their extreme leftist supporters. Everyone else is left out in the cold paying the bills.

If that TARP money or especially the Stimulus money had been used correctly it could have revitalized small business and given needed relief to the working class and aspiring businesses. None of it went where it was needed, it was just a gigantic giveaway/ payoff to Democratic cronies. Who even knows where the money went? Most of it stayed in Washington!

Like the $6 million that went to Hillaries friend, Mark Penn,who was running the add campaign to tell us about the switch from analog to digital TV. Wasn't that helpful! That went to hire 4 people. Total waist of money. Total payoff of a Hillary crony!

Mark Penn's two firms awarded millions from stimulus for PR campaign

[edit on 9/12/09 by plumranch]

reply to post by plumranch


ENRON's Ley and VP Cheney had a secret Energy Plan for America.
I can most assuredly proclaim Tesla technology was not part of
the planning even though I have no hard evidence.
Well only since by the noticeable absence of the inventor perhaps.

reply to post by TeslaandLyne

ENRON's Ley and VP Cheney had a secret Energy Plan for America.

What was this plan?

Originally posted by plumranch
reply to post by TeslaandLyne

 

ENRON's Ley and VP Cheney had a secret Energy Plan for America.

What was this plan?

We do not know, it was a secret meeting, behind closed doors.
It was mentioned in Roger Moore's "Fahrenheit 9/11" I'm fairly
sure. Also for sure was a meeting with the Taliban from Afghanistan
about a gas pipeline.
These were national TV news stories and he used their footage.

This reminds me of ABC going to the Rose Garden for a Bush
announcement to interrupt the View's Rosie O'Donnell's inteview
with the 9/11 truthers Loose Change. She kept on talking about
building 7.

News controls may have changed since Roger Moore's days.
Ain't it a shame.
Perhaps the plan was to make more money from us instead of
developing free energy devices.
Perhaps the Tesla tower was as good as a Niagara Falls after all
as funds were stopped for even his smallest generators.