Treasury Blacks Out Key Parts of Private Bailout Contracts »
Posted By engineer 1 year, 1 month ago in Business & FinanceRemember how Treasury Secretary Henry Paulson promised full transparency in spending the $700 billion bailout money? And remember how bailout opponents predicted that the failure to mandate such transparency would allow all sorts of Halliburton-style shenanigans? From the looks of the first private contracts issued by the Treasury Department, it looks like the bailout opponents were correct.
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engineer
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My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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reallypsst1 year, 1 month ago
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Here is a classic case of corruption at work on the inside track of our government ,First and foremost a conflict of interest exists. How can we allow a former CEO of a company in which is owed twenty billion dollars by AIG to head and oversee the bailout.And then he appoints his second in command another former exec to run the operation , these are the same type of crooks that screwed us in the first place.Then we have AIG a colossal company with a monopoly in the world financial arena needing a life boat from us to steal again from the very same people who saved them.I am convinced that the whole system of government is with out a doubt on drugs and their drug of choice is the good O dollar bill. they will sell their soul for a piece of it!
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HateKoolAid1 year, 1 month ago
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You have to wonder which candidate will be more adamant on replacing Paulson as first order of business and demanding a full audit on where every dollar of this bailout went. My feeling is that Obama would be a little more receptive to this audit than McCain would.
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focus_pocus1 year, 1 month ago
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Remember folks, republican and dems. signed of on this bail out. Obama is not your knight in shining armor. If he alligned himself with this bailout then you can rest assure his pockets somehow got lined.
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This abuse will happen again and again and again until people wake up. Not just wake up but stand up and fight it.
If you choose not to take action then go back to sleep sweethearts. Mommy will bring you some cookies, Eat them in front of you and leave you the crums.-
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ETproductions1 year, 1 month ago
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The original Bush/McCain bailout plan called for Paulson to have total control of the funds and NO oversight. Senator Obama was the first to insist there be oversight and transparency. Oversight and transparency was part of the package that passed in Congress. But Dubya with his signing statements considers himself the sole valid branch of government.
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He's issued more signing statements in his 8 years than all presidents from George Washington through Bill Clinton combined. And whereas previous presidents used signing statements simply to explain to their Administration how to implement the will of Congress, Dubya thinks he can strike out parts of legislation and add whole new parts in complete contravention of the Constitution.
Don't try to keep hanging the RepugniCon disasters on Obama. I thought you Cons were the advocates of personal responsibility. 9/11, the utterly botched Katrina response, and the Iraq war intelligence failure were all somehow Bill Clinton's fault. Now Paulson's move toward a socialist corporatocracy is Obama's fault. Give me a break! -
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ETproductions1 year, 1 month ago
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Why am I not surprised? This is how the RepugniCons manage what amounts to the largest move into socialism in US history. One more step toward the fascist corporatocracy that Dubya's granddad, Prescott Bush tried to pull off. You know, don't you, that in the 30s Prescott Bush and a group of his elitist wealthy friends plotted a bloody coup to overthrow Roosevelt and institute a Nazi socialist state. They thought it was the only way to put an end to the depression. http://www.prisonplanet.com/articles/july2007/2407...
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And to think they are trying to label Obama a socialist now.
BTW, socialist doesn't mean someone who supports a progressive tax system. We have always had a progressive, tiered tax system since income taxes were introduced in the early 1900s. No, socialism actually means government ownership of the means of production of wealth, as in a federal takeover of banks and investment banking. Look it up if you are confused by the RepugniCon misuse of the word.-
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KISA452a1 year, 1 month ago
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Let's assume your hypothesis is correct and this is a move toward socialism. What does it say when Dems voted for it quickly while Repubs hesitated?
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You're welcome to say anything you want about Bush, but since we're talking Congress it will have no relevance.
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KISA452a1 year, 1 month ago
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So, the Democratic, Pelosi plan is going to be a boondogle? This is another non-story. Anyone who thought about it knew this was a farce from the beginning. Why do you think they decided to use $100-$150 billion to directly bribe legislators for votes?
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