to anyone who really wants to learn alot more about our ....goverment.....

[preferredduck]

Its not that the fed "lost" the money, its that they couldn't produce a rundown of all the places the money was when they were put on the spot in front of congress. The money isn't gone, they just need time to produce a report on all of the different things the money has been used for.

like losing it, loaning it to crooks, i have that video bookmarked and laughed my ass off at it. that kind of $$ should be accounted for at all times even if put on the spot infront of congress. also isn't it bad that they won't tell us who all got the bailout money, it is our right to know since we will be paying for it for the next 200 years.

[Total_Blender]

it is our right to know since we will be paying for it for the next 200 years.

It is my understanding that banks have paid most of it back already, and that GM is seeking to pay theirs back as well. Also, since these are loans that bear interest, when its all said and done the Gov't will have made a return on their money. I'm not saying I approve of this corporate welfare, but its really not the big deal its made out to be by the wingnuts.

[PatrickH]

It is my understanding that banks have paid most of it back already, and that GM is seeking to pay theirs back as well. Also, since these are loans that bear interest, when its all said and done the Gov't will have made a return on their money. I'm not saying I approve of this corporate welfare, but its really not the big deal its made out to be by the wingnuts.

You're not looking at the big picture. What this has done is changed the game. It's now accepted that if you're a big corporation you can make bad decisions that hurt everyone and the taxpayers will bail you out. We basically just subsidized failure. This in turn, encourages more failure. It's the same thing we've been doing to our children for years. "It's okay little Billy. You're still a good little boy despite failing your classes, throwing temper tantrums, etc. If you fail high school you can just live with mommy."

[bu villain]

This whole economic downfall just shows how brutal free market capitalism can be. Bailouts or not, we would still be in a messed up situation right now. The question is which is the lesser of two evils?

[youngpre]

You're not looking at the big picture. What this has done is changed the game. It's now accepted that if you're a big corporation you can make bad decisions that hurt everyone and the taxpayers will bail you out. We basically just subsidized failure. This in turn, encourages more failure. It's the same thing we've been doing to our children for years. "It's okay little Billy. You're still a good little boy despite failing your classes, throwing temper tantrums, etc. If you fail high school you can just live with mommy."

While I do very much agree with this setting a very bad precedent, you also have to look at the implications of letting all of those corporations fail simultaneously. The situation could have, and likely would have, turned from bad to worse very quickly

[Vteckidd]

It is my understanding that banks have paid most of it back already, and that GM is seeking to pay theirs back as well. Also, since these are loans that bear interest, when its all said and done the Gov't will have made a return on their money. I'm not saying I approve of this corporate welfare, but its really not the big deal its made out to be by the wingnuts.

its a huge deal, they just made failure acceptable.

They talk about golden parachutes, The Govt gave these guys the BIGGEST GOLDEN PARACHUTE of all time.

Name me the LAST TIME our government loaned someone money, got paid back with interest, and applied it to the national debt? They dont do it, they will spend that money on something else.

Congress reported they got back something like 8 billion from the banks 2 months ago and did they pay off anything or the national debt? no they turned around (led by Rangle and Barney Frank) and put that money into paying off peoples mortgages who were "hurting" or "in trouble of defaulting".

COngrats, you just marginalized failure again