Does Anyone feel like Bailing

[Griff]

One guy in Washington gets it.

The problems that led to the last crisis have not yet been addressed, and in some cases have grown worse, says Neil Barofsky, the special inspector general for the trouble asset relief program, or TARP. The quarterly report to Congress was released Sunday.

"Even if TARP saved our financial system from driving off a cliff back in 2008, absent meaningful reform, we are still driving on the same winding mountain road, but this time in a faster car," Barofsky wrote.

Since Congress passed $700 billion financial bailout, the remaining institutions considered "too big to fail" have grown larger and failed to restrain the lavish pay for their executives, Barofsky wrote. He said the banks still have an incentive to take on risk because they know the government will save them rather than bring down the financial system.

[tw]

Originally Posted by TheMercenary

So what happens to all these supposed new jobs created by the pork barrel stimulus package when that money is no longer being supplied by the government?

Propaganda always stated for the many who need to feel good. Reality - jobs created by throwing money are temporary. Same technique is created by requiring everyone to replace their lawn annually. That also creates jobs. Economics takes revenge years later. Those temporary jobs are about lessening severe job losses today while accepting lesser job losses distributed over a longer future period. IOW we well be paying for the 2000 for then next ten years.

No government creates jobs. Only innovation creates jobs. We have yet to see severe job loses. History says serious job losses are expected. Spend money today to lessen that inevitable blow. And nobody knows if it will work.

A problem created by wacko extremist economics such as tax cuts to the rich. Tax cuts without spending cuts. Subverting Basel 1 and 2 requirements. Subverting the SEC to protect people such as Maddof. Telling rich bankers they could pay themselves massive wealth and run up 30 to 1 debt to equity ratios as long as they also purchased politicians. Even let GM quash their hybrids. How many times do these same people not discuss K Street - the largest government bribery in the history of America?

Economics takes revenge for economic money games. Lies in 1968 and 1970 Viet Nam created massive job losses and recession in 1975 and 1979. Lies from irresponsible government in the 2000s will be the malaise in 2009 and 2014. Only those told how to think by a political agenda argue TARP myths - so that their political agenda will not get blamed. The TARP was not a problem. The political agenda created this mess - complete with "Mission Accomplished". And surrendering Afghanistan to the Taliban. Taking cheap shots is now the political agenda.

Those whose political agenda said Saddam had WMDS - now we will begin to pay for those overt and venomous lies. Who warned us all back in 2003 that it would happen? Who predicted when that the bills would come due four and more years later?

I made one mistake. I said it would cost about $400billion when the political agenda said it would only costs $2billion. Well, the bill is now $1000 billion - a trillion. I under estimated how destructive that 2000s political agenda would be. Maddof and Enron accounting are just two trophy's earned by that political agenda - that we all have only started to pay for.

So instead the political agenda takes cheap shots at TARP - so that we forget what and who created this mess. So who predicted it back when the political agenda even lied about Saddam's WMDs?

[classicman]

Geithner: U.S. Will Not Lose AAA Bond Rating

Moody’s Investors Service warned on Wednesday that the triple-A rating of U.S. treasury bonds could be in peril unless the federal budget deficit is reduced or the economy grows more vigorously than expected.

So on THIS WEEK, during our exclusive interview with Treasury Secretary Timothy Geithner, I asked if the U.S. is at risk of losing its triple-A bond rating.

He responded bluntly: “Absolutely not. And that will never happen to this country.”

“When people were most worried about the stability of the world, they still found safety in the Treasuries and the dollar," he continued. "That is a very, very important sign of basic confidence in our capacity as a country to work together to fix these problems.”

I'm worried about the rating. Several other sources have indicated otherwise. What makes him so sure?

[Clodfobble]

Doesn't matter if he's sure or not, he has no option but to give that answer.

[tw]

Originally Posted by Clodfobble

Doesn't matter if he's sure or not, he has no option but to give that answer.

Meanwhile, Cheney proved that deficits do matter.

[classicman]

I know your probably right Clod - but still.

[classicman]

Contract: Small Turkey Deli Breasts $5,379,000 Willmar MN Jobs created...unreported. Great accounting.

I wish I could find out how this works, $5 million plus... for turkey breasts? nice going.

[classicman]

Contract: Lake View Towers Apartments $1,831,121 Chicago.
ZERO jobs created. This was to pay the owners of subsidized rental apartments. Don't they already get paid from our tax dollars?

[TheMercenary]

Yea but that Failed Stimulus Package will sure get you a great view of the Lake if you can afford the rent!

[classicman]

Contract: The City of Miami to hire 50 police officers. $11,086,850 Jobs created so far...Zero
Um - thats like over $200,000 per officer. WTH?

Originally Posted by classicman

Contract: Small Turkey Deli Breasts $5,379,000 Willmar MN Jobs created...unreported. Great accounting.

I wish I could find out how this works, $5 million plus... for turkey breasts? nice going.

Project report .... $5 million for 2.9 million lbs for domestic food assistance programs....less than $2/lb....seems like a reasonable price.

Jobs created - 285.


Carry on with your crusade.

Originally Posted by classicman

Contract: The City of Miami to hire 50 police officers. $11,086,850 Jobs created so far...Zero
Um - thats like over $200,000 per officer. WTH?

The grants will provide 100 percent of the approved salary and benefits for entry level officer positions over a three year period. Police departments receiving the grants will then be required to retain the grant funded positions for a fourth year.

Fifty more cops for four years.
http://www.miamigov.com/cms/comm/1724_6589.asp

[TheMercenary]

Originally Posted by classicman

Contract: The City of Miami to hire 50 police officers. $11,086,850 Jobs created so far...Zero
Um - thats like over $200,000 per officer. WTH?

Police officers make a lot of money don't cha know....

[classicman]

so its only $70,000 per. Thats more reasonable.

[TheMercenary]

Originally Posted by Redux

The grants will provide 100 percent of the approved salary and benefits for entry level officer positions over a three year period. Police departments receiving the grants will then be required to retain the grant funded positions for a fourth year.

Fifty more cops for four years.
http://www.miamigov.com/cms/comm/1724_6589.asp

And when the money runs out then what? They all get fired that's what.