Is Bank TARP money being used to stop judges from resetting mortgages?
Headline reads: "Fight building over judges redoing mortgages." According to the article, "A bill to give judges authority to alter loan terms for primary residences may be the quickest way to arrest the housing market's collapse. Most Democrats in the House and Senate support that plan. President Barack Obama told Democratic leaders Friday he also backs it.
But 10 groups representing the lending industry and other businesses are fighting back fiercely. Several have engaged portions of their lobbying machines to stop the legislation. The groups spent $83 million in lobbying on multiple issues in 2008, a figure that shows the power of the banking and investing industry and their business supporters."
My question is this, when money was given to the banks in the form of TARP Funds, was any of that money used for Lobbyists to mount a battle to stop the legislation? If it was the Banks should be required to give the money back to the government and the taxpayers. It is not beyond their audacity to do so. But this is a good reason why the money should be tracked and accounted for by those receiving it.
But 10 groups representing the lending industry and other businesses are fighting back fiercely. Several have engaged portions of their lobbying machines to stop the legislation. The groups spent $83 million in lobbying on multiple issues in 2008, a figure that shows the power of the banking and investing industry and their business supporters."
My question is this, when money was given to the banks in the form of TARP Funds, was any of that money used for Lobbyists to mount a battle to stop the legislation? If it was the Banks should be required to give the money back to the government and the taxpayers. It is not beyond their audacity to do so. But this is a good reason why the money should be tracked and accounted for by those receiving it.
Labels: bankruptcy foreclosures, Democrats, legislation, lobbying banks, President Barack Obama, TARP
posted by Charles Amico at 2:23 PM
3 Comments:
You Bail Them Out, We Opt Out. We Want Some TARP
Dear, I should say Expensive Chairman Ben S. Bernanke,
All of Our Economic Problems Find They Root in the Existence of Credit.
Out of the $5,000,000,000,000 bail out money for the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that WE, The People, got?
If my bank doesn't pay back its credits, how come I still must pay mines?
If my bank gets 0% Loans, how come I don't?
At the same time, everyday, some of us are losing our home or even our jobs.
Credit discriminates against people of lower economic classes, as such it is unconstitutional, isn't it? It is an supra national stealth weapon of class struggle.
Credit is a predatory practice. When the predator finishes up the preys he starves to death. What did you expect?
Where are you exactly in that food chain?
Credit gets in the way of All the Principles of Equal Opportunity and Free Market.
Credit is a Stealth Weapon of Mass Destruction.
Credit is Mathematically Inept, Morally Unacceptable.
You Bail Them Out, We Opt Out
President Bush Proposed the TARP, Senator Obama Voted It.
We Want Some TARP.
Opting Out Is Both Free and Strictly Anonymous.
My Solution: The Credit Free, Free Market Economy.
Is Both Dynamic on the Short Run & Stable on the Long Run, The Only Available Short Run Solution.
I Am, Hence, Leading The Exit Out of Credit:
Let me Outline for You my Proposed Strategy:
✔ My Prescription to Preserve Our Belongings.
✔ Our Property Title: Our Free, Strictly Anonymous Right to Opt Out of Credit.
✔ Our Credit Free Money: The Dinar-Shekel AKA The DaSh, Symbol: - .
✔ Asset Transfer - Our Right Grant Operation - Our Wealth Multiplier - Our Liquidity TARP.
✔ A Specific Application of Employment, Interest and Money.
[A Tract Intended For my Fellows Economists].
If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless Already?
Since credit based currencies are managed by setting short-term interest rates, on which you have lost all control, can we still say that are managing?
We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.
In This Age of Turbulence The People Wants an Exit Out of Credit: An Adventure in a New World Economic Order.
The only other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.
It will be either awfully deadly or dramatically long.
A price none of us can afford to pay.
“The current crisis can be overcome only by developing a sense of common purpose. The alternative to a new international order is chaos.”
- Henry A. Kissinger
What Else?
Until We Succeed the Economy Will Necessarily Keep Sinking Into a Deeper and Deeper Depression
You Bail Them Out, Let's Opt Out!
Check Out How Many of Us Are Already on Their Way to Opt Out of Credit.
If You Don't Opt Out Now, Then When Will You?
Let me provide you with a link to my press release for my open letter to you:
Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!
I am, Mr Chairman, Yours Sincerely [As if I really had the choice.],
Shalom P. Hamou AKA 'MC-Shalom'
Chief Economist - Master Conductor
1 7 7 6 - Annuit Cœptis
Tel: +972 54 441-7640
Fax: +972 3 741-0824
Thanks for the comment Mc-Shalom. You are correct in saying every day people are losing their job. Today's news here in the US. shows a total of 28,000 in the news and I posted where they are from. Are people losing their jobs in Israel as well at a similar pace?
People are losing their Jobs everywhere in the world. Banks are getting bail out money everywhere in the world.
The economy is global we need a global solution for the People.
Xenophobia or Nationalism profit only to the people who use our fears and anxiety and to excuse their impotence.
We have a fair and efficient solution which prevent any form of discrimination:
The Credit Free, Free Market Economy.
There is no other short run solution I am aware of.
Sincerely Yours,
MC-Shalom
Post a Comment
<< Home