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View Diary: Where did the bailout money go?? And why aren't we more pissed about it? (73 comments)

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  •  Let the Investigations, and Convictions, Begin (12+ / 0-)

    Where did the money go?  My best guess is that most of it went to keep those sovereign fund investors happy.  China or Saudi Arabia, for starters, aren't pleased taking a bath in our markets.  If we want their government's money to further finance our own government, then we had better, they suggest, make them whole. Fork it over, Yank.

    The Saudis have something like $1 trillion in bank deposits in the USA, and own at least another $1 trillion in stock equity -- very round figures but you get the point.  Now add the other oil fiefdoms' investments to the picture. Add Japan's.

    We can say no to a few burned billionaires or a giant multinational corporation. It's another matter when other governments have us all by the short hairs. The right-wing's worst fears are realized: the government has taken over!  What they didn't expect was that it would be other people's governments.

    If that is so, then we must tend our own gardens then.

    by Otherday on Tue Dec 23, 2008 at 10:10:48 AM PST

    •  It's one thing if we have no choice but to pay (0+ / 0-)

      those foreigners.

      But why can't they at least tell us that that's what's going on, if it is?

      The influence of the [executive] has increased, is increasing, and ought to be diminished.

      by lysias on Tue Dec 23, 2008 at 11:05:49 AM PST

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      •  I think they are holding on to dump it in Obama's (1+ / 0-)
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        lap.  I really do. Both Biden and Obama have specifically said that 'things are going to get a lot worse'....and Biden has said: The economy is about to tank.

        I hold Barney Frank, Nancy Pelosi and Chris Dodd just as accountable as Bush/Paulson.  And I think they all know something that they do not want to tell us, because it is probably going to cause a great deal of civil unrest.  We are probably looking at double digit unemployment and inflation coming right up and I would not be surprised if the Dow hit 5000 in the next year. I wish I could be more optimistic, but our entire government in bed with Wall Street and the lobbyists is so entrenched, and so corrupt that is is going to take years for our country to recover, if we do recover, that is.

        The nerve of Paulson to ask for the other 350 billion this past week is what sends me into a rage. We can't get one straight answer as to what happened to the first 350 billion and still, the rape of the American taxpayer goes on.  Buy the way, this past week Congress voted itself a $4,700.00@ dollar raise in the middle of The Great Depression (the Sequel).  How many days did they work this year?

        According to an article in the Washington Post, the average number of days a year for Congress to be in session in the 1960s and 70s was 323 days. In the 80s and 90s that number dropped to 278. So this year, the Senate shows up for 165 days, and the House, 115 days.  

        Congress and Wall Street?  Thick as thieves.  Will President Elect Obama have the courage to change all of this, or will he 'just sweep it under the rug'?  That's what I want to know.

        "Government is the entertainment division of the military industrial complex." --The late Frank Zappa

        by Badabing on Tue Dec 23, 2008 at 11:51:00 AM PST

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