Sunday, April 05, 2009

Change You Can Count in Your Pocket

I cleaned out my car today, and I was rewarded with a big pocket full of coins that I found in between the seats, and under the floor mats. I felt pretty good about having a car that had clean windows and seats, and the $3.32 in change that I put into the coin jar in my kitchen might buy a Subway sandwich at some future date. It was also great to rid my vehicle of those nasty week-old coffee cups, the milk begins to smell bad after a couple of days.

The thing that stinks worse than my solidifying coffee, is the scam that is being perpetrated by our very own newly-elected Administration. This is from today's Washington Post:
The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials. . . .

The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as middlemen, channeling the bailout funds to the firms and, via this two-step process, stripping away the requirement that the restrictions be imposed, according to officials. . . .
In one program, designed to restart small-business lending, President Obama's officials are planning to set up a middleman called a special-purpose vehicle -- a term made notorious during the Enron scandal -- or another type of entity to evade the congressional mandates, sources familiar with the matter said.
The thing is, I think we are re-inflating the bubble,propping up the old system, and economic recovery is going back to the people who need it the least, those who caused all of the pain for the rest of us, and the loss of jobs for nearly 10 percent of Americans.
We are getting change for sure, change we can put in our penny jar, but the folks at Goldman Sachs and Citigroup are getting dollars, lots of dollars.

Please read this post by Glenn Greenwald at Salon.com.

I think our own Democrats are ripping us off.

posted at 10:05:00 PM by Tankwoman

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