This is the same scumbag company that jacked my rates from 8% to 29% and charged me 20.00 to get a 25.00 cash advance. Well isn't that nice. Must be because of all the people like me who cut their dam cards up.
Well let me break out my Violin for you all, common, you all know the game the RICH get RICHER and the POOR get POORER, or is it the POOR get SCREWED, I for one am not suprised one bit, I've always said all the Politicans are in someones pockets and this is just paying them back .....and that's both Parties ......
Hey IRS, I could really use a tax break also. It won't cost us billions either.
Really nice. It should make the numbers look good on the books so that greater salaries and bonus can be paid to the executives. Keep it up. Incredible how we the people are left with a sequential economy (hand to mouth), fighting each other for scraps, all the while political decisions manipulate money to centralize and flow up the pyramid to benefit the few. Really nice! Economic and Political Slavery! Corporations controlling the government and the government holding its foot over our heads.
Hay John - more of them should cut their cards up and when they have no customers at all - maybe then they might see good business= providing service and also = good service ....and if people tell the government not to bail them out period - they will relaize they have no business unless they provide service at reasonable prices - same as everyone else has to that is in business. Why should they be exempt - get tax breaks and government handouts - but the will all stop when the government has no more to hand out - won't it ?
I wonder what would happen if all working Americans went into their HR departments and had $0 withheld from their taxes. I'll bet the treasury would come up with the money to build lots of prisons for us. All of these banking execs should be in jail, not being given our money.
So, Obama put a fox, Geitner, bought and paid for by the banking lobby, in the henhouse.
Cash for clunkers was only a good marketing ploy to show us "how much we are doing for you." It was a gimmick to profit the power structure that Obama needs to keep control of the congress.
Another lie from obama and the democrats. Isn't this pathetic. The American people ought to be outraged. They can talk about paying billions of dollars in bonuses to their people, but can't pay back the money given to them out of taxpayer money. The American people ought to be outraged at the democrats and obama. They have $150 billion that has not been spent out of the original TARP money/financial bailout and $175 billion has been paid back from these TARP companies. Now the democrats want to spend this on another stimulus. Again, the American people shoul be outraged. And these are the same democrats that you want to give money to for 3 - 5 years before they start to spend it on healthcare. How much confidence do you have that it will be there when needed? The same government that is bankrupting Social Security, Medicare, Medicaid, Post office, Amtrack, etc. The government is the most inefficient spenders or money, and the problem is that it is our money. Healthcare will bankrupt this country and it will take months to get a doctor's appointment since more people and illegals will be getting healtcare. Let alone the doctors that will not take the government insurance and will retire. We are a nation of naive people to put up with this, not write their representatives, and not totally understand what the democrats are shoving down our throats.
I was never under the impression that this government is for the little guy. Remember that crook that afforded Obama the house that he could not otherwise have afforded? When I heard that I knew he was in somebodies pocket and birds of a feather flock together. Sad but true he handpicked the trash that makes up the Obama administration
Another example of being too big to fail. No company is too big to fail, they should have gone down the tubes for mismangement and their officiers should be dressed in prison garb.
This country is in debt to our eye balls thanks to corrupt administrations and a Congress that spends like a drunken senator, yet we are giving away billions of dollars that will eventually be the responsibility of the individual tax payer. Vote all incumbents out of office, it is their job to up hold the constitution and I doubt that most of them have ever read it.
To summarize, Glass-Steagall required separation between Wall Street and traditional banks. It's repeal was the final straw, and while administration officials claim otherwise, dozens of ecnomists see a clear connection between the repeal of Glass-Steagall and the rise of the Citibanks of the world. With Glass-Steagall in place, it was illegal for them to become "too big to fail".
There is a bi-partisan effort to reinstate Glass-Steagall, which will likely fail.
Why? Because it is this Congress' and administration's preference to enact more 1,000+ legislation that allows these institutions to REMAIN too big to fail, BUT allow the Federal government to dismantle or take over ones they deem "risky".
Once again, short term benefits to the "fat cats" that Obama pretends to hate but fills his administration with, and in the long term, even more Federal control - of all the wrong things.
so john q public has to continue paying his taxes or lose his home to the government but corporate america can just pass on it until it feels like it can handle the stress. jolly decent of congress isnt it.
What I want to hear are all the liberals complain about the Obama lies and manipulation of the tax law for his own political benefit. I haven't done any specific research, but I would question the truth of the statement by the White House official that Obummer has the legal authority to make an exception. The tax laws frequently give the Treasury the authority to provide guidance that is within the original intent of the statute, but I am not aware of any tax law that states that the President can choose to ignore the law for his own poltical convenience.
These future secured bailout tax-breaks are fascist 'corporatism', set in motion as a weapon of warfare to destroy the united states. The International monetary system Sovereign Nation Debt Default knife continues to slice away the Sovereignty of the Nation in exchange for allowing the illegal bailout fraudulent swindle in the first place.
And don't we all wish the IRS would give us a break too! I really hate this government and the Obama Administration. They are screwing all of "the people" with their arbitrary decisions to play Sanata Claus with he big banks.
I hope the IRS is that benevolent with it comes time for the rest of us to pay out taxes but I don't see it happening. Dump the FED and dump the IRS. These sweet deals for corporate america just isn't right.
It is Bush's fault. Keep saying that- you must - you have to believe it is Bush's fault. There is no way the Obama group of folks would ever do anything that was not in the best interests of the American Public. Somehow that evil Bush got in there and pushed a few buttons and passed some rules while no one was looking. Maybe he was wearing a Obama mask while he was doing it but it definitely is Bush's fault.
No step or program that succeeds can be taken at face value by the American Right assorted Obama haters and various misogynists. TARP was created to avoid another Great Depression, it has been one of the few success stories of the Bush Administration. The hue and cry from the right was that it was a conspiracy by government in order to take over the financial industry and once in would never divest. When suggested that these loans could eventually turn a profit the same as federal programs in the 30s did the right scoffed remaking historic precedents all being considered rampant socialism. Now when the Federal government does exactly as promised and quickly divests at a profit a new conspiracy is created. Without the tax incentive they will not buy back the loans. If you want the government to continue owning private institutions keep on @!$%#ing about financial settlements. Why would the loans be repaid without incentives if the money when kept can be loaned out at a significant profit.
The same people who heralded Bush Corporate tax giveaways and IRS greaks for the top 10% of earners now whine about programs they ranted against being brought to successful conclusions with incredible speed.
I met two women while standing in line at the mall the other day. They were talking about how Obama "has their back" and they he inherited this mess and none of it was his fault. In fact, they wanted Michelle to leave him so he'd be available. There are so many that just don't want to get it, no matter what.
What you don't seem to get is that the majority of Americans would have preferred that the free market decide whether Citibank et al failed or not, NOT the government. Yes, we would have fallen harder, but we would have gotten up faster without the all the attendant government interference and debt.
So, whether Bush did it or not (remember, his approval rating was a 33%, not many fans) millions of us believe it should not have happened in the first place - therefore, anything that comes after as a direct result will be criticized.
We, yes me too, voted for change BECAUSE we hated the corporatist policies of the Bush administration.
And we are stuck now with four years of the same crap.
Follow the money, it leads to the Obama administration now instead of Bush's.
i wonder just how far things like this are going to keep happening, before the mighty middle class rises up and says we have had enough.
Not going to happen. Because the mighty middle class been shrinking at a fast pace for a decade. Some still in a illusion that they are still in the middle class. Only credit cards was supporting their lifestyle. All those manufacturing jobs are being replaced with service jobs and professions. Professions that require 4 yr degrees that pretty much guarrantees you in 40k+ debt by the time you are done. Welcome to Debt of America.
Where do I sign up to have MY taxes forgiven? If the argument is that I'm NOT too big to fail, I can borrow a few million first. The ACLU should sue the IRS over this. Reminds me of the shyster accountants on the TV ads that say they can get the IRS to reduce your tax bill. PAY WHAT YOU OWE!!!
Jim Hayes - open your friggen eyes. This administration is raping the country. Right at the top we have Tim Geithner. He is a tax cheat that is out to help his freinds in the financial industry. Get off your "blame Bush"bandwagon and face the facts that when this President is done we will not recognize our country if he isn't stopped by Congress. And I don't think that will happen because Congress is full of liars more now than anytime in history.
SEEMS LIKE THE CORRUPTION AND LIES JUST KEEP ON ROLLING FROM OUR GOVERNMENT!!!!!!
Selectively and quietly the government agrees to just "forget" the tax payments on Citigroup. BOY, don't you wish you or I could get a break on our taxes when money gets tight????? Seems like being "TOO BIG TO FAIL" has more perks than we could have ever imagined.
NEXT THE GOVERNMENT WILL LET THE BANKS KEEP THE INTEREST ON THE LOANS TOO!!!!!!!
WHY NOT! Contrary to what anyone thinks, Republican or Democrat, Wall Street and Washington are joined at the hip and will continue to manipulate OUR MONEY at their leisure. And the worse thing is many of you will sit here and spout your POLITIC back and forth about WHO'S FAULT IT IS.
IT'S YOUR FAULT BECAUSE YOU KEEP VOTING THESE CRIMINALS BACK INTO CONGRESS OVER AND OVER!!!!!!!
You'll sit here and spew your "it's Obama's fault" or "it's Bush's fault" or "it's FDR's fault", and when time comes you'll walk back into that voting booth and pull your PARTY LINE lever and feel good about yourself.
YOU'RE ALL FOOLS. FOOLS FOR ALLOWING THE SAME CRIMINALS TO KEEP DOING THIS TO YOU!!!!!!
The corruption in our government runs deeper than any of us could even imagine. But for some unknown reason the blame is never revealed.
ANSWER ME THIS!
With this massive economic crash we and the world are experiencing right now WHY hasn't anyone been found to be at fault in our government? I don't give a damn if it's a Democrat, Republican or Santa Clause, SOMEONE or some department or some agency is to blame. But guess what?
YOU NOR I WILL EVER KNOW WHO OR WHAT CAUSED THIS ECONOMIC MELTDOWN!!!!!
Because the MOB that runs our government will NEVER snitch on each other because they're all to blame. WHY isn't there a massive congressional investigation into HOW this whole disaster happened? Why aren't BOTH sides of the "aisle" DEMANDING a full investigation and exposure of the reason to make sure this NEVER happens again?
There are only two reasons why they aren't.
1) They don't know. Which should be an outrage to us all and even more reason to vote them all out in 2010 and 2012.
2) They DO KNOW but are covering their a$$es. Which should be even MORE of an outrage and a bigger reason to vote them all out in 2010 and 2012.
SEEMS TO ME THEY WILL NEVER LET US KNOW SO OUR ONLY OPTION IS WE NEED TO VOTE THEM ALL OUT IN 2010 AND 2012!!!!!!!!
UNFORTUNATELY THAT WILL NEVER HAPPEN BECAUSE YOU "PARTY LINE HACKS" WILL NEVER ADMIT YOU AND YOUR PARTY ARE WRONG!!!!!!
Pragmatic - "Yes, we would have fallen harder, but we would have gotten up faster without the all the attendant government interference and debt."
What is this statement based on? The whole point of the bailout was to avoid a depression...not just in the U.S. but a global one. If all the banks fail, it would be a catastrophe. Saying that we would have fallen harder but picked outselves up faster is irresponsbile - you have no idea how far we would have fallen or how fast or slow it would have taken to recover. NO ONE liked the bailout, not Bush, not Obama, not the people...but it was necessary.
The mass elect the officials in office .You know what the bible said was the root of all evil .The greed in this country is disgusting .To better benefit the people of this nation ,where is our stimulus package?Instead of the billions of dollars given to the greedy corporations banks etc.Evil is still evil. Shame on you...
Very interesting! Citi just raised my rate to 19.99% and I have been a customer for over 20 years, never late, don't even carry a balance unless I make a big purchase on-line. So the little guy gets screwed again, higher interest payments enabled Citi to repay TARP funds quicker, now the feds are giving THEM a break on taxes? Cripes, where is our bailout?
"Treasury officials said the most recent change was part of a broader decision initially made last year to shelter companies that accepted federal aid under the Troubled Assets Relief Program from the normal consequences of such an investment."
Laws were changed to "shelter" companies who RECEIVED free money from consequences of such an "investment"? Who the F*** are they trying to fool? The companies received a GIFT, taxpayers made the investment. We should be the ones who are "sheltered".
This is just more smoke and mirrors being used to print false "repayment" headlines to promote the illusion of a "recovery".
So when I send in my tax returns will I get a wallet sized picture of a CEO I adopted and steady updates on his progress? Can I pick which bank he comes from?
So not only did we give them billions! we are now paying the billions! back to our selfs? So where is the original billions that was borrowed? Thats insane and has to be criminal.
Very interesting. They just raised my rates to 19.99% too, and I don't ever carry a balance on my card unless I am booking a vacation on-line. Let's see if they rescind some of their more strident rate increases to their loyal customers, NOT!! The feds should be helping the average customer get out from under the massive interest payments that these big companies have put on our backs. The way I see it, the rapid return of TARP funds has been through sqeezing the little guy. Give us a break for once.
The whole point of the bailout was to avoid a depression...not just in the U.S. but a global one.
How do we KNOW this was a fact? Just because the SAME people that got us into this mess now were telling us it could become a depression? How the hell did they know it would lead to a GLOBAL DEPRESSION?????
You my friend give WAY too much credit to the same criminals that CREATED this mess to be able to get us OUT of it.
Years ago when a company became "TOO BIG TO FAIL" it was called a monopoly and broken down. Remember AT&T and the "Baby Bells". Now when a company grows to "TRILLION DOLLAR" status it's praised as an "institution"! All it has actually become is a massive money laundering company that was "TOO BIG TO WATCH"!
The clowns that ok'd the tax-breaks should be jailed for misappropriation of govt funds, as should the elected official that was behind it for accepting bribes (Campaign contributions).
Let me get this straight. Obama and his cronies arrange an illegal IRS forfieture in order to inflate the return so they look good in their kool aid drinking followers eyes?
And the real numbers show a loss!!
Beam me up Scottie!! I can't take this anymore and 2012 seems like an eternity away.
You can blame Bush, Obama, etc., anyone you want. When it comes down to it, it's the fault of the people who still do business with them. If you don't like how big business runs, stop giving them your money. I bank locally, and credit unions at that (they're non-profit, or didn't you know that?). I refuse to do business with Citigroup, Chase Manhatten, BOA, or any other national bank for that matter. The couple of dollars extra it might be costing me is going back into my state and my community.
If this country had any real solidarity, We, The People, would be those who decided which businesses got away with criminal acts and which survived, based on with whom chose to give our business.
Never appeal to a man's 'better nature.' He may not have one. Invoking his self-interest gives you more leverage. -- Lazarus Long
A corporation receives a tax break. Imagine that! What's this world coming to? Perhaps they will give more to a charity next year. Save the Super Models? Or, sponsor a new talk show?
USARogue, very good points but it won't matter who you put in Washington under the current system, they'll eventually succumb to the extreme power they have these days. Currently each US Congressman represents some 650,000 people. While I don't necessarily believe in bigger/more government, I would have to believe if if we changed congress in size so that our representation was closer to older numbers, as individuals the congressmen wouldn't be as powerful as they currently are. I also believe that doing so would allow more Independents to be elected.
How do we know that TARP avoided a depression? We don't. How do we know that if the govt had kept their hands to themselves that we would or would not have recovered quicker? We don't. What we do know is that the govt quadrupled the national debt in the past 2 years and there is no end in sight to their spending. (Giving tax breaks to these corps is just like spending money). I bitched when TARP was passed. I bitched when Glass-Stegal was repealed, and I bitch everytime I see yet another example of how stupid our politicians are. A lot of people (including myself) are writing, calling, and emailing their representatvies, but THEY ARE NOT LISTENING TO US!!!! THEY DON'T GIVE A @!$%# ABOUT US!!!!!!! Until you realize that fact and wake up, they will continue to do what they think will help them and screw us further in the process.
You want to call TARP a success story? That it prevented a depression? OK, I'll give you that simply because we have no proof otherwise. If that's true, then why isn't the govt stopping with the bailouts? Why are they looking at the paid back TARP money as a slush fund instead paying it towards the debt they racked up in order to get the TARP money? If TARP was a success, then why do they have to give tax breaks now because these companies are still in trouble?
The reason is that while the principle behind TARP might have been a good one, NONE of the recipients did what they were supposed to do with the money: They didn get rid of toxic debt. They didn't free up credit for loans. What they did do was to help themselves: They paid their executives bonuses. They bought up other failing companies who didn't get any TARP money. And they raised all of our interest rates.
They didn't deserve the bailouts last year and they don't deserve a tax break now. They deserve to sink or swim on their own.
Hey, great, the banks will be paying us back (ignoring the fact that they will be getting tax breaks, and our tax revenue as a nation will go down while spending continues to go up.) Now, how about the auto companies? Can we expect to see our $60 Billion back any time soon? I thought that they were also "too big to fail." I'm tired of saving hand-picked businesses with our tax dollars. What about other manufacturers like steel, paper, textile, and family care products that are allowed to fail every day? Do people think that those employees suffer less, and that their suppliers suffer less? The government needs to keep its hands (and our money) out of the private sector.
John we cut our card up also, we always payed early and more than needed and yet they jacked our rates up to 29.99 % lets see the SOB's get the huge bonuses next year when the card holders start to abandon them as they have us. Go figure one again the candidate of CHANGE has found a way to screw the little guy, I didn't think it possible but I think BO hates the middle and lower class American's worse than GW. RV the government would actually have to CARE about the working public to actually do something that would really help us instead of themselves and we would be dumber than them to think that the give a rip about us just their own pocket books and payoffs.
I agree however when we did stop giving them money/using there services our government stepped in and gave it to them anyways against the will of the people.So you have to blame Bush Obama congress etc. They are the ones that saved them with our money and there the ones who need to be held accountable for it. What shocks me the most about this whole thing is we are going to pay the lost tax revenue so basically we are paying back the billions they received against our will and no one seems to know where those billions are.
You can blame Bush, Obama, etc., anyone you want. When it comes down to it, it's the fault of the people who still do business with them. If you don't like how big business runs, stop giving them your money
I agree that the problem is bigger than what I posted but I also endorse Term Limits, 2 terms for the Senate, 4 terms for the House. This will not allow these "LIFERS" in Congress from becoming so entrenched in corruption for 20-30-40 years. We have over 300 MILLION people in this country. If these 535 criminals in Congress are the best we can do, our country is in much worse condition than we can ever imagine.
I also believe there MUST be a true Line Item Veto to prevent the massive PORK that is ALWAYS attached to every piece of major legislation. Let each bill be proposed, debated and either passed or failed on the floor. Can you IMAGINE most of these Congressional criminals having to stand in front of Congress and arguing the 5,000+ earmarks added to the Omnibus budget?
I also believe in Balanced Budget Amendment, which requires a super majority which the Democrats have, making government responsible to maintain fiscal responsibility. But you and I know this will NEVER happen because Congress CAN'T be responsible, accountable and transperent.
These things along with true"Sunlight Before Signing" of 30 days for any major legislation and auditing the Fed and the Treasury to investigate the TRILLIONS of dollars in off-balance sheet transactions in the last year need to be addressed immediately.
Yea, it's a fairly typical liberal ploy to demand the opposition prove a negative that is impossible to prove, in defense of their destructive policies.
There have been several reports from various economists that support the idea that had the banks that were "too big to fail" been allowed to fail, a variety of things would have happened.
Yes, globally and domestically, we would have fallen harder.
However, because the of the debt incurred with the bailouts internationally, the ability for the global and domestic economy to recover is severely hindered in ways that it would NOT have been otherwise.
The ongoing artificial propping up of these firms is also not helping, and the credit freeze continues.
Not to mention the ongoing spending upon spending upon spending, heaped upon spending, resulting in the devaluation of the dollar.
I find them MORE believable than the continued defense of the Bush approach which is being continued by Obama, which will stunt our economy for decades.
What logic was used to give away the taxes this company owes? Citi should not be given a free ride here... This is just very poor judgement on the Administration's part! What are they signalling to other companies and to the US tax payer. Do I get a free pass when I can't repay my loans? I think not, so why does Citi? Pure and simple, this is foolish...
USARogue, those are all items every American should support.
It never ceases to amaze me though how congressmen earning currently $174K manage to amass millions after merely one or two terms.
And as an add-on to my post above relevant to the size of Congress, it just amazes me the lack of support there is by Congress and the Senate to ensure that the Census and redistricting that will occur as a result won't include illegal aliens. The Constitution states that Congress shall never exceed 1 per 30,000 population. The last time Congress size was permanently adjusted was in 1911 when our population was approx 74M. Sure we don't need a congress four times it's current size, but the "Power of the People" is surely being eroded annually.
First of all virtually all polling at the time of the bailout of the financial sector was evenly split with approval and disaproval consistent through all but the farthest right. It split about 1/3 support, 1/3 against and 1/3 no opinion some polling had the undecideds less but all were within a margin of statistical error of an even split. Many liberals were against spending money on corporate welfare a smaller number of conservatives opposed it. Other bailouts such as auto were almost universally opposed by conservatives if the dust had been allowed to settle and Citigroup, Wells Fargo and B of A would have flat out failed nobody in the world but the American Right believe the US, Central American, Mexican and South American banking systems would have survived. Canadas system might have but heavy US investment in all other American systems would have induced failure. This would have bankrupted the FDIC and necessitated the Nationaliztion of US credit markets, Nationalization and the cleanup of toxic assets would have been a more straightford and sensible approach but your whole scream socialism at every turn groups precluded it.
The idea of a hands off approach while the rest of the worlds central banks propped up their economies would have dropped us into at best the second tier of nations and brought about a global depression. Such a depression would have forced nationalization of all vital sectors and then you really would have a government controlled economy. Laissez faire in a society with a large middle class is a disaster for everything from OSHA standards, wages and well paying jobs to 401 ks and retirement. If the free market approach proposed for Social Security had passed and financial markets had been left alone virtually all accessible capital would have been moved out of US institutions and into safe foreign banking sysyems. The idea that we can allow our institutions to pursue some Victorian era econmomic approach while the rest of the world subsidizes industries, manages their currency, provides health insurance and a social welfare safety net while providing support from their central banks is at best naive and at worst idiocy.
Hey c'mon people, they need the cash from the tax breaks to pay those lil ole bonuses to their "talent".
/Sarcasm off
Eff em all! When will the American people wake up and get the business out of our government. The banking lobby is taking us to the cleaners on the public side and sticking it up our collective arses at 30% interest on the private side. End all corporate lobbying, private citizens only can talk to their reps - period!
We survived Jimmy Carter we will survive Barack Obama as well. There is NO WAY he will get re-elected in 2012 unless the Rebublicans run Micky Mouse or Sarah Palin!!
Kevin in Texas, sure that's true but the office of the President isn't the crux of the problem. Nobody can deny President Obama is ideological beyond comparison whether one agrees or disagrees with him. Has that changed anything though? What's the constant factor? CONGRESS. We could elect a fictitional character as President, if we leave congress the same, nothing will ever change.
Kevin - we survived Reagan and Bushes 1 and 2 as well but aren't we as a nation tired of surviving? We can survive with a Trillion Dollar Debt but we cant' EXCEL until we lose it. I can survive making minimum payments on my credit cards but I really can't live until the debt is gone.
We need to keep these people from keeping us divided, so long as they are able to keep us arguing they can get away with whatever they want. Like giving away BILLIONS of our dollars. This isn't a Dem or Repub issue, it's a governmental issue - both freakin parties do it.
Vote them all out, everyone of them. I'd rather have a Congress full of newbies who don't have a clue how to do anything, including steal my money than the experienced crooks we have there now!
Excellent link. I've been watching Colonel West for a while now. He definitely has the right idea for our country. The problem is he has to have the support of the people in his district who just voted in a Democrat in 2007.
I hope he can make some noise though. I think he has a lot of promise if not in 2010 then in 2012.
"Hi, my name is Chris Dodd (or whomever will replace him). I'm going to completely ignore that the TARP payback was done while banks can still borrow from the Federal Reserve. This simply moves the amount they owe the government from one 'credit card' to another, issued by the same source. But this allows me to skip out on regulations even though I don't owe any less money, and pay myself my big bonuses!"
Wow. You banks sure are smart. Why aren't the people watching you?
the credit card reform act didn't raise the rates of the cards, it was the delay in implementation. If congress had implemented a rate freeze right away, we wouldn't have seen the big increases that we got got stuck with.
Though, it wouldn't have mattered with citibank and BofA seeing as how they jacked up their rates in December 08 right after getting bailout money. I guess now that citibank is getting a big tax break, it will give them yet another excuse to raise rates again.
Says you. A lot of economists disagree. When it comes to government meddling, I tend to prefer they NOT and therefore tend to side with the defense of the negative which is obviously impossible. The fact that other governments DID meddle, did rather force our hand, on that I will agree. You can splinter the 33% approval rating Bush had at the time as many ways as you want in liberal, conservative, whatever factions, the fact remains that 67% did NOT approve. We can agree to disagree on this, because either way what's done is done. I'm just saying, don't be surprised at ongoing criticism, when so many people didn't suport the bailouts in the first place.
Are you awake yet?
Of course that legislation resulted in higher rates than would have happened had they NOT passed the legislation. What business that doesn't want to stay in business doesn't insure their profits to the extent they can? Yes, the delay from passage to implementation gave the credit card companies maximum time to put the screws to EVERYONE not just the "bad" risks but again, in an attempt to defend government meddling, you're asking for proof of a negative - that rates wouldn't have gone up as much if Congress hadn't acted.
Just like pharma. How much do YOU think their rates would have increased this year, had Obama NOT struck a deal with them to give back $80 billion in exchange for any health care legislation stipulating that the government could not negotiate for rate reductions on Medicare/caid patients? The same 9% they increased them already, which earned back that $80 billion plus a nice cushion?
You realize, Obama made the rookie mistake of not demanding price increase caps, right? Intentional? Yes, I think so. Because pharma matters more to this administration than actually - not just in talking points but ACTUALLY - saving the people of this country money.
Another example of corperate welfare. It would be nice to see this administration start treating the American people as generously as they do big business and the banks and financials. I realize that is a pipe dream.
And the public has the power to vote these people out and for some reason - will not ..... Bush for example - after the public clearly saw he lied - they re-elected him again to do more of the same. If he'd lie once - he'd probably lie twice and he surely did starting some very expensive wars in the process. Obama - he had a slick story - of "too good to be true" promises to "fix" everything - and got elected - why ? not because people believed he could - but because they were enchanted with the idea of a literate black president - something unique - now they can pay for it ....
And all of this is why you are where you are today .... now who IS really ??? at fault ??? And what are people going to do to change that ? And when are they going to do it ? Or will they simply complain forever and take whatever they are handed ? That is the easy way out - and most people will probably choose it and remain exactly where they are - except paying more of what they do not have ....
I'm for revolution now! We all start the revolution in our own homes. We only bank with local banks and we only buy American, Made in America. We only buy American produce and American Beef, we are the only ones able to save our country, start today!
Good luck to you on that. Where will you find American made products.You will get very cold and digusted. I look for American made every time I go shopping but even simple things like Calenders are made in China
I don't look for 'Made in America' at Walmart, I know its hard but that is the only way we can take our country back. If the items made or grown in other countries sat on the shelves then the stores would give us what we want. We are the only ones with the power to spend our dollars on American items. Imagine the joy we would get if every factory that moved to another country and took our jobs went belly up because we can't afford to buy the product because they aren't paying us to manufacture it.
And Obummer wants to agree that the U.S. will cut greenhouse gasses while giving "developing countries" a pass. Do any of you believe that will result in more or less manufacturing in the U.S.????
True conservatives? There's only one in Congress... The rest of the "moral" conservatives are no different than the so called "tax and spend" democrats. The party lines don't accurately reflect any differences. The only difference is that Republicans are proponents of white people and fundamental christianity. They'll still spend like any other democrat government will.
Too bad Ross Perot did not stick it out. He was right on when he said that sucking sound you hear are all of the jobs and money going to foreign markets.
Bush for example - after the public clearly saw he lied - they re-elected him again to do more of the same
I think you are wrong about this, the official vote said he won, I and many americans were shocked and awed when the news came across. Bush stole the first and second elections, once with the help of our supreme court.
Ross Perot
Mike I voted for him, he would have made an awesome president. He wanted to run this country like a business, the way it should be. You think he will run again? Jesus I hope so.
isn't this just one more outrage added to the many outrages that Obama has permitted on his watch? CHANGE??? what a lot of CRAP!!!!!!!!!!!!!! the obscenely rich are just getting richer, if that is possible, and the rest of us? WELL, the rest of us are expendable. we don't matter. we are just votes. we are SH*T. only the people that line the pockets of politicians with ill-gotten gains matter and are the benficiaries of Obama's largesse. While Citibank or Citi holdings or whatever corporate shell game entity they call themselves is giving out $100 million dollar bonuses, we give them a multibillion dollar taxbreak after we gave them a multibillion dollar bailout. America is a great country- FOR THE UBER RICH ONLY, others need not apply!!!!!!!!!!!OBAMA how could you????????????????
As long as we keep kicking each others arse over Bush and Obama and Clinton and Bush the politicians have no reason to change things. We distract each other with petty effin arguments while the government gives OUR MONEY to big business who then gives it back to OUR REPRESENTATIVES.
So long as Big Biz keeps financing their elections and they keep us distracted with petty effin issues things will never change. We're too busy calling each other morons to stop them from stealing us blind! MY guy is just as big of a crook as your guy - lies, wars, missing emails, crap taxes - we can stop it if we quit beating on each other and start beating on them. They understand this that's why they do stuff to keep us going after each other instead of them!
I'd settle for some fiscal responsibility from both the Congress and the Administration. With all their spending of monies that we don't have, be prepared for inflation to kick in soon.
Inflation has kicked in - go look at your local store.... many have "specials" 2/$3 or 3/$5 and if you look at the price - the same item last year was .99 cents each .... so 2/$3 is $1.50 each - near double the original price - but hidden as a "special" ... that's what you call inflation - things cost more .... take milk for instance - a while ago it was $2.00 a gallon, or less - now it's near $5 a gallon or more ..... Inflation is here already - cept no one saw it arrive... wait til the Fed raises interest rates - then you will really see inflation.
A few years ago cigarettes were $2 a pack - or less in some places - now look - at least $4 or more in most places .... isn't that inflation ? Chewing gum used to be twenty five cents or less - the package is now smaller and the price well over doubled ...
The article about inflation is the third one down at the bottom of this article. It's very decieving how "they" make you think your getting a deal with the "2/$3" deals.
NYS cigarettes are around $8 with all the taxes. Inflation arrived a long time ago. I used to stock grocery store shelves 20 years ago bread $1 day old $.50, now $2. Basic white bread store brand. Consider this Citibank jacked rates to 29.9% of which your monthly bill will be 90+% interest let alone be 1 minute late, slow mail room ya know now that loaf of bread cost you if you ever paid the balance off no less than $6-10. My Citicard was high balance partly used to keep my business alive during slow seasons until they cut credit usage in 08/08 when I had it paid down by about 60% even at 29.99% apr. Immediate damnation to small business. Cross the board to customers that loaf of bread will be like buying Fillet Mignon. As it was when fuel was needed following up to $5/gallon diesel in 08 that if it got paid for within a year would cost $6.49. 2 years $8.44. Inflation is paid in blood by us already. As I battle these creditors with the only means possible Discover I think I assessed maybe 12K borrowed over 9-10 years and had paid back 28K the balance is over 100% of the original yet they demand more. Funny how 6 mo at 0% and a restructuring payments in 99 so I could get out a $5K truck balance cost me to date closing in on triple that. I think inflation set in years ago. Of course they can repay TARP funds quickly they manipulate stock prices buy up stocks at low prices, stabilize with our money, increase stock prices and yet again profit. They are going to be the avenue for small businesses to come back to life, ok! They've been eroding it for years. Revolution, it's called chapter whichever and try again in 5 years as the government isn't going to do what it should to keep the 12.2 M small business owners producing. I hope I am wrong, so far I would've been better to get hit by a car on roadside. Grants/low/no interest loans to small businesses is going to be the only saving option.
power of small business check out SBA.org, or US Census small business statistics, are 97.3% of all US Businesses with under 10M in sales. Wonder why you're here instead of working?
cq92 wrote "A few years ago cigarettes were $2 a pack - or less in some places - now look - at least $4 or more in most places .... isn't that inflation ? "
No it isn't inflation. The increased costs are called a health tax.
Smoker dies at say 55-60, maybe endures 2-3 years of medical problems. Never collects SSI, uses medicaid, maybe when it takes them out of work say even the last year they live. Average person lives 70-80 collecting SSI, increasing medical costs with age, to the point of eventual 100% nursing home care. That argument has always been lopsided and looks at short term costs. Life long costs are higher to be healthy. As age increases new diseases pop up costing more to investigate, and treat. I'm sure it cost more for my grandma to live to 99 in a nursing home 15 years +ssi +home care + + + or so than step dad trucker that died in his truck of emphasema. Working til the day he dropped. Another fleecing of Americans to have a choice albeit a bad one, still a choice. Being as I'm not a robot programmed to do what the man sais, I prefer my choices even my bad ones. I prefer not to fund yours through bailing out the same people that kept my payments high decreasing my families standard of living for a decade or more. They chose to stop lending when they were being paid, I chose not to pay them anymore, and I choose not to support any political party propping them up higher on their almighty pedestals. Choice, it used to be in the Constitution, not a Red Book. I chose to serve the country that fought communism and middle east terror when I was growing up. Do not try t take my choice as our forefathers meant for them to be there.
Yeah, a big thanks to my state and federal governments for the cigarette taxes this year. I watched my father and uncle die of lung cancer but only decided to quit when the US and FLA increased the taxes $1.43 a pack in two months! I quit to keep the bastages out of my pockets, not to save my life.
Tobacco free since Memorial Day. Now the pukes are trying to ban the E-cig that helped me quit - go figure. Somebody big must not be making money off of it.
We DO already have inflation and very high although unmeasured by the Powers that Be. Just look at the size of the actual products you buy compared to their packaging. I bought breakfast bars and they have lost a third of their size when compared to the package they arrive in... Our money is WORTHLESS, I spend twice the $'s for groceries buying the same products as I did one year ago. Who are they trying to kid???
Here we go again. The party of the rich, enriching their billionaire buddies.
We can't afford a taxpayer tax holiday, but we can afford to continue to throw BILLIONS of dollars down the CORPORATION tax hole?
And they wonder why the approval rating of Congress is under 20% and Obama has the lowest Presidential approval in the first year of a presidency in decades. A change is definitely coming.
A private working class individual would be raked over the coals and have everything he owned confiscated if he didn't pay up--why should these scumbags get any breaks? They only exist because Odumbo the Combo 's administration used tax payers' money to bail their sorry asses out of the mess they created.
TARP was a GW & company program that began with a 3 page request for $750 BILLION with no oversight. At the time we were told that this program was needed "really bad". Well, the tax payers got a really bad program. What a suprise.
Jim - A three page request can be read and understood in a matter of minutes - unlike Obamas's 1000+ pages of health care overhaul - that thing is s blessed book - not a plan ! Secondly - Bush requested money to do a job - plain and simple and easy to understand - but Bush is not in power anymore and Obama has asked for far more and many more times and spent more and IS in power - so who is running the show ? Bush or Obama today ? And even if I am not a Buah fan - I have to say Obama is far worse. Just look at what he has spent and the debt he has caused since coming into office.
Now look at the other side of the coin - Obama had full choice to be done with TARP and also had free choice to NOT spend - did he do that ? The answer is NO - instead he spent far more than Bush and then blamed Bush for causing him to do that .....????? He could have easily taken an approach of smaller government - cost cutting - elimination of spending and worked to pay off debt - he did not do that! So who is at fault - Bush who made the debt or Obama who failed to work to pay it when he got into power and instead increased it by far more ?
Let me put it into simple terms - you give buddy a credit card and tell him it has a balance - he can use it if he pays it - he pays nothing and instead maxes it out - so who created the problem then of paying it off - you or him ? But it's your card - the American public's credit card... and Obama is maxing it out - then going to walk away - cause it's not his card.... in the end - it's you stuck with the debt and you that's gonna be sorry for trusting ...
You guys are falling right into the trap they have set for you. As long as you bicker about "bush this" and "obama that" nothing will change. They are both a part of the same party, the business party. They all went to the same schools, and are a part of the same commissions and fraternities. There job is to fleece the American taxpayer, and hand that money over to their owners, which ultimately are the bankers and other corporations.
The supreme court will soon hear a case that may remove all ability to temper the amount of money a corporation can give to a political campaign. Corporations today are given the rights of people, and the court is going to hear a case where corporations are claiming that limits on campaign contributions are an unconstitutional limit on their FREE SPEECH! Since when did a corporation become a person that gets more rights than an actual flesh and blood human being?!
So go on bickering along party lines, while the corporations work with both parties to achieve their end, which is to OWN YOUR ASS!
I really believe that the American people should resist paying taxes. The less of our tax dollars they get they less damage they can do. In any light, there really is no law stating we have to pay taxes anyway, its all a scam. "taxation without representation is tyranny". Has anyone here been consulted about any tax increases or asked if it was ok with me or you to give the banks our tax dollars? or to give my tax dollars to the military so they can use it to kill innocent women and children? The problem is we're afraid of Uncle Sam and the IRS. What fools we are......
jpfs52 why don't you quit paying your taxes and send us a post card from your cell when Uncle Sam gets done with you? Many of us would rather complain than get active like you.
That's the problem Mike, if EVERYBODY stopped they wouldn't be able to do anything about it, not enough prisons. What they are doing IS taxation without representation... and I'd rather spend a few years in the pokey after burying my 10 years of taxes in a hole somewhere that will be there waiting for me when I get out... than give this country's crooked gov'mint another dollar of my hard earned money. STOP PAYING YOUR TAXES!
Bush has been long gone for some time now - try being accurate and saying "That damned Obama" - you might be closer to the truth then .... and he is actually the man in charge now running the show.... isn't he ? Or is Bush still somehow mysteriously making the decisions ?
If we all go "exempt" on our W-4s the govt will just borrow that much more money to keep operating through the year. And then at the end of the year how many do you think will not be able to afford the big tax bill they are going to get? I know I wouldn't. there goes more govt spending to go after those people and of course the lawyers will get rich "defending" the tax cheats.
First they get a bailout, then they get a tax break - what does the average person get - the "Joe Plumber" Obama made such a fuss about a while ago ? He gets a health bill that will force him to buy insurance and get fined if he does not - if he is 55 the Medicare provision in the new health bill is "unavailable" it's been scrapped so those people that can least afford it are also forced to pay - after they have worked all their lives paying into it - and meanwhile Obama is doing nothing to address the job losses and lack of employment - instead he wants to raise costs for employers if he can, then says "it's up to the private sector " to get the economy rolling - after he has given banks billions to do exactly that - and they have done nothing except raise fees and continue to take people's homes.
Do people realize Obama is doing more damage internally - right within the country - to everyone than anyone overseas in Iraq or Afghanistan could ever do ? But he's "sugar coating " it all so people think he is wonderful ...... and they lap up everything he offers or says ... and many say - "give him more time" ... exactly what he wants and counts on .... and the politicians in Congress and the Senate are following right along with his plans......
People everywhere are gonna be in for a very rough ride in the next year and far more if Obama has his way now, passes laws he wants and no one stops him.
Apparently and you know some people still continue to blame Bush - not that he was that good anyhow - and the very same people refuse to even see Obama is running the country now and it's his actions since he came into office that are causing all of this .... he's done nothing to reverse what Bush started.
I agree, cq92. Nothing has changed over the past year. Corporations are still getting handouts, and we're no closer to either finishing the job in the mideast or bringing our troops home. I still think Bush was one of the worst presidents this country has ever had, but I don't see anything changing with Obama.
This is not a unilateral decision by the IRS is it? I smell TG here. The politicizing of the IRS is corruption of the WORST sort.
And IF, and that's a BIG IF, the IRS DID act in a unilateral way, then heads should roll and this should become yet another and strong reinforcement for the dissolution of this questionable agency.
At the very least, the American people are BETRAYED YET AGAIN by the very government that is supposed to be serving US and NOT the "too big to fail" giant corporations!
Justice should be DEEPLY involved with getting to the bottom of this as should the Supreme Court! This is nothing less than the manipulation of a lawfully placed and presumably inherently neutral and servile American agency.
Where is Treasury on this? Where is the President on this? Who gets to MAKE UP the billions lost as giveaways to thieves as concession to pay their bill?
Are you surprised ? considering who is in power right now ? You have a man in power that controls the country - says he has a transparent government that refuses to disclose anything - and himself refuses to even disclose valid proof that he is a bona fide citizen - and so far has spent far more than anyone else in a shorter time and is trying to pass laws to force people to give up their freedom of choice .... and has spent a good deal of his upbringing in foreign countries, countries that are not necessarily friendly to the US ... what do you expect ?
Y'know, I am so sick to death of the Obamabash song and dance and crowd in general that clouds important issues and says or does nothing useful or constructive.
How about asking ADULT questions and seeking ADULT answers instead of calling names? How about being an American citizen instead of an unreasonable hater?
This country is under ATTACK! This country is being destroyed from within with a war that has been waged for DECADES!
It's NOT about birth certificates or color or party. It's about MONEY and POWER and CONTROL! It is literally about slavery versus a free people.
There are things going WRONG here that are not the responsibility or under the control of one person who walked in the door 11 months ago.
There are plutocrats who want nothing less than your life and wealth! There is a hegemony that wants us GONE! There is a group of people who thoroughly believe that they are the elite, the endowed, the entitled and the enabled and that the rest of us are just so much dirt under their feet that needs to be swept up and thrown out! THESE are your enemies! THESE are OUR enemies!
TG may have been a mistake. Like other Goldman Sachs insiders it is HE who may be the large problem. Then again, maybe not. The best place to get information about how criminals think, one must understand criminals. One must embrace the Devil to see his heart. The trick is not to let the Devil get the upper hand.
This ploy with Citigroup is potentially heinous and clearly demonstrates that the balance of power is NOT with our own government, with all its size and power, but with the monied "Haves" who are capable of the most underhanded dealings ever perpetrated by organized crime.
Another question pops into my mind. Is TG playing the "Haves" against themselves or is he still heart and soul one of them? Whose team is he really on? It's a watch and see game. One thing is clear to me though, if the Republicans HATE what TG is doing, there just might be some merit to it.
Please do NOT use my comments in future as springboards to dance the dance. Please keep an open mind and focus.
Well, just ask yourself this - WHO IS RUNNING THE SHOW AND WHO IS PRESIDENT now - and then you can answer who is responsible and who gets bashed for not doing their job at all.....
The important issue is JOBS and EMPLOYMENT and Obama has done next to nothing on either issue - but priority one for him is to overhaul health care and at a huge taxpayer cost. Give your head a shake .... he deserves to be bashed because he's behaving like a witless moron and has no clue of what IS important - do you still want to defend him ? Or do you want to look at what is in front of your nose - a useless president that ought to be replaced ASAP ?
"Y'know, I am so sick to death of the Obamabash song and dance and crowd in general that clouds important issues and says or does nothing useful or constructive."
"... HE who may be the large problem. Then again, maybe not."
If you are not even sure what the problem is - how do you ever hope to solve it ? Or even make a rational decision ?
How is this NOT on Obama? How is the stimulus, the dithering on Afghanistan, health care, Crap & Tax, ANOTHER stimulus with paid back TARP (currently illegal), obligating billions to "climate change", etc etc etc , NOT on Obama?
If it were Bush, he would be blamed - and rightfully so. He's STILL blamed, even though he's out of office almost a year.
The President sets the tone, he makes his appointments based on that tone. This particular decision may not have been made by him personally, but you can be sure he knows about it. Come on, he and Turbo Timmy talk every day - seven times at least.
This is just an example that poop rolls downhill, which we already knew.
Tunnel vision is clear, there is no doubt. What tunnel vision is NOT is expansive. By its very nature it blocks out other perspectives which may, in fact be the truth.
Obama may, and most likely IS culpable for a great many mistakes and possibly misdeeds. He is NOT and can NOT be the root cause or even the willing perpetuator of all the ills that beset the United States.
My contention is the classic. If you want to go to the root of the problem, follow the money. This time tested principle is STILL one of the most forceful and logical routes when there is criminality involved.
This nation is BESET and RIFE with BIG MONEY criminality. THIS is the problem that is undermining who we are. THIS is the source of the vaporizing of democracy. THIS is the basis for a "new world order".
If Obama is purposely furthering the cause of the "Haves" then the insidious network that is reducing mankind to thrall may be unstoppable and we are lost. I can hope not but I will continue to study all avenues and approaches to reach the truth.
Let's face it, we all react to the information that we gather but we also react to the information we are fed. If you limit that information with tunnel vision by adopting a stance and view that will not allow a distant truth to penetrate, then you will never even see the truth, never mind use it.
I am not convinced that Obama has less than the best interests of the country at heart. I am not convinced that he is not a stooge. I am not convinced that he is not the Anti Christ himself. What I AM convinced of is that I don't know...and neither do you.
What I AM convinced of also is that I am sick to death of the Obamabash song and dance. Let's just look at the ALL the information available before passing judgement.
I've hopped down on the side of freedom and liberty, myself, after having voted for Obama, climbed up on the fence myself after the first few months, and over the last few months decided - One Big Arse Mistake America was pretty accurate.
Well said Prag - what still amazes me is how many sheeple are still out there that have not come to their senses yet. Bush was a nitwit, but Obama is just downright scary!
Where's my tax break? Prior to losing my job last Feburary I took a $30,000 401k loan out and Fidelity Investments wouldn't let me pay it back. Besides the 20% penalty i have to pay more taxes on it. If anyone has any advice i'd really appreciate it. Thank you
Well, the loophole is this - if I understand the law correctly - if there is a debt and the holder of the debt is offered a payment or any payment and refuses - for example walk in with a certified check for a payment and have a witness and get a written refusal of them to accept the payment or a witnessed refusal - then the debt no longer exists because the holder of the debt has refused payment. A good lawyer could probably have the entire debt thrown out if you go about it the right way.
Again if I understand it correctly - where a debt exists - either the lender is obligated to accept payment in any amount - and if the lender refuses payment then they are making it known there is no debt and you owe them nothing. Check the law - I'm sure you will find this to be true - it's not what the bank says - it's what the laws concerning debt actually read.
Another law that may be relevant is if a person makes all reasonable efforts to repay a debt and is refused and can prove it - a court may rule that nothing is owed then because the lender has refused to accept payment. The court may also rule that the lender must accept a reasonable amount if the debtor is willing and able to pay. It's then not what they want - it's what they are being told by law that they will get. The bank no longer makes the rules once they have a court order of what they have to take.
whats this another attack on the middle class from the army of Lieberman? Schumer go get em PLEASE
trillions of dollars in debt and the IRS is licking the spinchter of the banks and if you thinks thats cross wait till your 30% credit card bill comes due on X-mas day
The biggest attack on the middle class was perpetrated by the Democrats, dude. Remember the subprime disaster? Fannie Mae? Freddie Mac? Dodd? Frank? Pelosi?
They crushed the value of our biggest investments for the foreseeable future. They were warned. They ignored it.
I wonder what would happen if all working Americans went into their HR departments and had $0 withheld from their taxes. I'll bet the treasury would come up with the money to build lots of prisons for us. All of these banking execs should be in jail, not being given our money.
As a small business owner this makes me sick. Work hard - get screwed. Screw consumers - get bailed out and get special just for you tax breaks. This is grossly unfair and a slap in the face to most hardworking individuals and small businesses.
Way to go IRS. Continue to help the fat cats because they deserve it. NOT! You certainly didn't help me when I made a mistake on my takes. I had to pay for that and I am on disability. It will take me a year to pay off the $2,800.00 that I owe, but I will do Wish IRS would bend the rules for me. The Bush and the Obama Administration are about the same as far as I can tell when it comes to helping out the rich. America. Gotta love it.
Probably they will start when enough people no longer have unemployment or a job and cannot get either and have hungry kids to feed and rent to pay - at that point they do not care and will so what it takes to change it all.... at that point when enough of the public are in that situation - they have nothing to lose and will do whatever they have to so they can get what they need to survive.... until then they will praise Obama and re-elect him.... and say - just give him more time .... when it finally sinks in that he is causing it - then they will turn on him ...
They (Americans being in the streets) are way, way overdue. The Patriots of the 1770's must be spinning in their graves as Americans stand idly by, while our country is ransacked by politicians and Wall Street bankers. Even the normally placid, socialist Norwegians have more guts than we do and are out in the streets. I think we need to send our "motto" (Land of the Free, Home of the Brave) over to the Iranian student protesters!
Come on Soccer. Obama is living up to his promise. He changed the amount of debt America is in. Now the only change we will have is the change in our pockets.
Transfer all your accounts to your local small bank or credit union. If enough were to so act, the big banks might get the message.
One day, if there's anything left, we Americans may just tire of the greed and lack of ethics and return to that which we once simply took for granted: VALUES.
Well, Nero fiddled while Rome burned and the politicians of America bicker about how much and if or how they should change health care - while the rest of the country falls down around their ears due to unemployment and those same politicians think they are great and important ..... not realizing they have no confidence of the people to govern and are nearly ready to be thrown out .... The same politicians spend more and authorize more huge debt - all the while not realizing - they have no money to start with ... they live on borrowed time... and their power is mostly imaginary - not real... someone else is making them dance on a string ... in the end - you are right - there are no VALUES !
Both Administrations and Congress have allowed and are currently still allowing banks to continue cheating and stealing from tax payers. It's so obvious that the repayments are nothing but a ploy to enable $billions in bonuses to paid to "fat cats."
The danger in the premature repayments is it could destabilize some of the banks next year requiring further tax payer financial assistance. The banks are basically "having their cake and being able to eat it too." They win both ways at our expense.
No matter which party is in power, the bottom line is they were and are still responsible for this fraudulent behavior regardless of the phony rhetoric and toothless legislation they claim are "banking reform."
No matter which party is in power, the bottom line is they were and are still responsible for this fraudulent behavior regardless of the phony rhetoric and toothless legislation they claim are "banking reform."
No. The people at fault are those still using the services of such businesses. You all are so eager to boycott the government, but will not boycott the businesses who are primarily responsible. It would be like trying to get people to boycott Walmart. "Don't you dare suggest I should give up my discounts and EDLPs!" So in trade for a few dollars of comfort, you allow a financial tyrant to be kept in business, and blame it on the government. And they KNOW that.
Go change all your banking to local banks, suck up the extra cost (which doesn't actually amount to much any more), and help send a concerted, nationwide message that "fat cats" will die when we refuse to feed them.
Or are you gonna just sit there and whine that someone else has to do it for you, so you can keep a few creature comforts?
What can we reasonably do against bankers, businessmen and lawmakers, all helping one another, who are infinately smarter than the rest of us? Half of what the new stories talk about the normal person doesn't even understand, like derivatives, tarp, underwriting. They're an untouchable nation; what can we possible do?
What can we do? Study and learn Financial and Investment Basics. These criminals depend on the majority of the public being finmancially illiterate.
Check this statement out:
"The IRS, an arm of the Treasury Department, has changed a number of rules during the financial crisis to reduce the tax burden on financial firms."
The Treasury Department and, in fact, the White House and Congress are arms of the financial firms including Citibank. Our country is being run from here: www.bis.org.
Proud Paga, For your info I have already changed my banking to a smaller Federal Credit Union and am very happy with their friendly and better services. So don't assume that I am whining only and not practicing what I preach.
It's people like you who refuse to adapt and adjust because you're too lazy and or greedy to make the change. BTW, you seem to have a bit of an anger and bitterness problem, have it checked out.
This is the same scumbag company that jacked my rates from 8% to 29% and charged me 20.00 to get a 25.00 cash advance. Well isn't that nice. Must be because of all the people like me who cut their dam cards up.
at this point, I hope the mayans are correct and we only have a few more years of this crap...
Well let me break out my Violin for you all, common, you all know the game the RICH get RICHER and the POOR get POORER, or is it the POOR get SCREWED, I for one am not suprised one bit, I've always said all the Politicans are in someones pockets and this is just paying them back .....and that's both Parties ......
Hey IRS, I could really use a tax break also. It won't cost us billions either.
Really nice. It should make the numbers look good on the books so that greater salaries and bonus can be paid to the executives. Keep it up. Incredible how we the people are left with a sequential economy (hand to mouth), fighting each other for scraps, all the while political decisions manipulate money to centralize and flow up the pyramid to benefit the few. Really nice! Economic and Political Slavery! Corporations controlling the government and the government holding its foot over our heads.
Hay John - more of them should cut their cards up and when they have no customers at all - maybe then they might see good business= providing service and also = good service ....and if people tell the government not to bail them out period - they will relaize they have no business unless they provide service at reasonable prices - same as everyone else has to that is in business. Why should they be exempt - get tax breaks and government handouts - but the will all stop when the government has no more to hand out - won't it ?
I wonder what would happen if all working Americans went into their HR departments and had $0 withheld from their taxes. I'll bet the treasury would come up with the money to build lots of prisons for us. All of these banking execs should be in jail, not being given our money.
The time for revolution is drawing near.
So, Obama put a fox, Geitner, bought and paid for by the banking lobby, in the henhouse.
Cash for clunkers was only a good marketing ploy to show us "how much we are doing for you." It was a gimmick to profit the power structure that Obama needs to keep control of the congress.
I love America and I hate our government.
It is getting time for a revolution.
This is change?
No, it's not.
What I have left in my pocket after paying my taxes with no special waiver from the IRS?
THAT'S change.
Are any of you STILL under the impression that this administration is "for the little guy"?
Oh, and by the way, in case more evidence is needed of the continued corporatist operations of this government:
http://www.msnbc.msn.com/id/34438653/ns/politics-health_care_reform/
Another lie from obama and the democrats. Isn't this pathetic. The American people ought to be outraged. They can talk about paying billions of dollars in bonuses to their people, but can't pay back the money given to them out of taxpayer money. The American people ought to be outraged at the democrats and obama. They have $150 billion that has not been spent out of the original TARP money/financial bailout and $175 billion has been paid back from these TARP companies. Now the democrats want to spend this on another stimulus. Again, the American people shoul be outraged. And these are the same democrats that you want to give money to for 3 - 5 years before they start to spend it on healthcare. How much confidence do you have that it will be there when needed? The same government that is bankrupting Social Security, Medicare, Medicaid, Post office, Amtrack, etc. The government is the most inefficient spenders or money, and the problem is that it is our money. Healthcare will bankrupt this country and it will take months to get a doctor's appointment since more people and illegals will be getting healtcare. Let alone the doctors that will not take the government insurance and will retire. We are a nation of naive people to put up with this, not write their representatives, and not totally understand what the democrats are shoving down our throats.
I was never under the impression that this government is for the little guy. Remember that crook that afforded Obama the house that he could not otherwise have afforded? When I heard that I knew he was in somebodies pocket and birds of a feather flock together. Sad but true he handpicked the trash that makes up the Obama administration
Another example of being too big to fail. No company is too big to fail, they should have gone down the tubes for mismangement and their officiers should be dressed in prison garb.
This country is in debt to our eye balls thanks to corrupt administrations and a Congress that spends like a drunken senator, yet we are giving away billions of dollars that will eventually be the responsibility of the individual tax payer. Vote all incumbents out of office, it is their job to up hold the constitution and I doubt that most of them have ever read it.
Here's some more proof of this administration's preferences.
http://www.newsweek.com/id/226938/page/1
To summarize, Glass-Steagall required separation between Wall Street and traditional banks. It's repeal was the final straw, and while administration officials claim otherwise, dozens of ecnomists see a clear connection between the repeal of Glass-Steagall and the rise of the Citibanks of the world. With Glass-Steagall in place, it was illegal for them to become "too big to fail".
There is a bi-partisan effort to reinstate Glass-Steagall, which will likely fail.
Why? Because it is this Congress' and administration's preference to enact more 1,000+ legislation that allows these institutions to REMAIN too big to fail, BUT allow the Federal government to dismantle or take over ones they deem "risky".
Once again, short term benefits to the "fat cats" that Obama pretends to hate but fills his administration with, and in the long term, even more Federal control - of all the wrong things.
Bush = Tax breaks for "Fat Cat Bankers", endless war, government bailouts, deficit spending, sending our jobs to China...
Obama = Tax Breaks for "Fat Cat Bankers", endless war, government bailouts, deficit spending, sending our jobs to China...
WHAT HAS CHANGED ????????
"New Boss...Same as the Old Boss"
so john q public has to continue paying his taxes or lose his home to the government but corporate america can just pass on it until it feels like it can handle the stress. jolly decent of congress isnt it.
What I want to hear are all the liberals complain about the Obama lies and manipulation of the tax law for his own political benefit. I haven't done any specific research, but I would question the truth of the statement by the White House official that Obummer has the legal authority to make an exception. The tax laws frequently give the Treasury the authority to provide guidance that is within the original intent of the statute, but I am not aware of any tax law that states that the President can choose to ignore the law for his own poltical convenience.
Come on Dems, lets here the criticism.
These future secured bailout tax-breaks are fascist 'corporatism', set in motion as a weapon of warfare to destroy the united states. The International monetary system Sovereign Nation Debt Default knife continues to slice away the Sovereignty of the Nation in exchange for allowing the illegal bailout fraudulent swindle in the first place.
And don't we all wish the IRS would give us a break too! I really hate this government and the Obama Administration. They are screwing all of "the people" with their arbitrary decisions to play Sanata Claus with he big banks.
Hey aren't these dudes the FAT CATS that Obama is going to punish? Yep looks like they got theirs alright!!!!!!!
I hope the IRS is that benevolent with it comes time for the rest of us to pay out taxes but I don't see it happening. Dump the FED and dump the IRS. These sweet deals for corporate america just isn't right.
It is Bush's fault. Keep saying that- you must - you have to believe it is Bush's fault. There is no way the Obama group of folks would ever do anything that was not in the best interests of the American Public. Somehow that evil Bush got in there and pushed a few buttons and passed some rules while no one was looking. Maybe he was wearing a Obama mask while he was doing it but it definitely is Bush's fault.
Ahhhhh, the U.S. Government..... the gift that just keeps on giving!
No step or program that succeeds can be taken at face value by the American Right assorted Obama haters and various misogynists. TARP was created to avoid another Great Depression, it has been one of the few success stories of the Bush Administration. The hue and cry from the right was that it was a conspiracy by government in order to take over the financial industry and once in would never divest. When suggested that these loans could eventually turn a profit the same as federal programs in the 30s did the right scoffed remaking historic precedents all being considered rampant socialism. Now when the Federal government does exactly as promised and quickly divests at a profit a new conspiracy is created. Without the tax incentive they will not buy back the loans. If you want the government to continue owning private institutions keep on @!$%#ing about financial settlements. Why would the loans be repaid without incentives if the money when kept can be loaned out at a significant profit.
The same people who heralded Bush Corporate tax giveaways and IRS greaks for the top 10% of earners now whine about programs they ranted against being brought to successful conclusions with incredible speed.
JKHayes
i wonder just how far things like this are going to keep happening, before the mighty middle class rises up and says we have had enough.
This country sucks.
Im packing my bags and moving to Australia.
And if I see another tax collector I will feed them to the gators!
Down with America. We suck.
Prag,
I met two women while standing in line at the mall the other day. They were talking about how Obama "has their back" and they he inherited this mess and none of it was his fault. In fact, they wanted Michelle to leave him so he'd be available. There are so many that just don't want to get it, no matter what.
Jim -
What you don't seem to get is that the majority of Americans would have preferred that the free market decide whether Citibank et al failed or not, NOT the government. Yes, we would have fallen harder, but we would have gotten up faster without the all the attendant government interference and debt.
So, whether Bush did it or not (remember, his approval rating was a 33%, not many fans) millions of us believe it should not have happened in the first place - therefore, anything that comes after as a direct result will be criticized.
We, yes me too, voted for change BECAUSE we hated the corporatist policies of the Bush administration.
And we are stuck now with four years of the same crap.
Follow the money, it leads to the Obama administration now instead of Bush's.
Same crap, different party.
I could use some tax relief........
sneaky ass government... we're onto you!
Not going to happen. Because the mighty middle class been shrinking at a fast pace for a decade. Some still in a illusion that they are still in the middle class. Only credit cards was supporting their lifestyle. All those manufacturing jobs are being replaced with service jobs and professions. Professions that require 4 yr degrees that pretty much guarrantees you in 40k+ debt by the time you are done. Welcome to Debt of America.
I have published a story about another government tax debacle at
http://bmark22000.newsvine.com/_news/2009/12/16/3640616-more-tax-dodgers-getting-away-under-the-watchful-eye-of-the-obama-administration
Where do I sign up to have MY taxes forgiven? If the argument is that I'm NOT too big to fail, I can borrow a few million first. The ACLU should sue the IRS over this. Reminds me of the shyster accountants on the TV ads that say they can get the IRS to reduce your tax bill. PAY WHAT YOU OWE!!!
Jim Hayes - open your friggen eyes. This administration is raping the country. Right at the top we have Tim Geithner. He is a tax cheat that is out to help his freinds in the financial industry. Get off your "blame Bush"bandwagon and face the facts that when this President is done we will not recognize our country if he isn't stopped by Congress. And I don't think that will happen because Congress is full of liars more now than anytime in history.
ROTFLMAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
SEEMS LIKE THE CORRUPTION AND LIES JUST KEEP ON ROLLING FROM OUR GOVERNMENT!!!!!!
Selectively and quietly the government agrees to just "forget" the tax payments on Citigroup. BOY, don't you wish you or I could get a break on our taxes when money gets tight????? Seems like being "TOO BIG TO FAIL" has more perks than we could have ever imagined.
NEXT THE GOVERNMENT WILL LET THE BANKS KEEP THE INTEREST ON THE LOANS TOO!!!!!!!
WHY NOT! Contrary to what anyone thinks, Republican or Democrat, Wall Street and Washington are joined at the hip and will continue to manipulate OUR MONEY at their leisure. And the worse thing is many of you will sit here and spout your POLITIC back and forth about WHO'S FAULT IT IS.
IT'S YOUR FAULT BECAUSE YOU KEEP VOTING THESE CRIMINALS BACK INTO CONGRESS OVER AND OVER!!!!!!!
You'll sit here and spew your "it's Obama's fault" or "it's Bush's fault" or "it's FDR's fault", and when time comes you'll walk back into that voting booth and pull your PARTY LINE lever and feel good about yourself.
YOU'RE ALL FOOLS. FOOLS FOR ALLOWING THE SAME CRIMINALS TO KEEP DOING THIS TO YOU!!!!!!
The corruption in our government runs deeper than any of us could even imagine. But for some unknown reason the blame is never revealed.
ANSWER ME THIS!
With this massive economic crash we and the world are experiencing right now WHY hasn't anyone been found to be at fault in our government? I don't give a damn if it's a Democrat, Republican or Santa Clause, SOMEONE or some department or some agency is to blame. But guess what?
YOU NOR I WILL EVER KNOW WHO OR WHAT CAUSED THIS ECONOMIC MELTDOWN!!!!!
Because the MOB that runs our government will NEVER snitch on each other because they're all to blame. WHY isn't there a massive congressional investigation into HOW this whole disaster happened? Why aren't BOTH sides of the "aisle" DEMANDING a full investigation and exposure of the reason to make sure this NEVER happens again?
There are only two reasons why they aren't.
1) They don't know. Which should be an outrage to us all and even more reason to vote them all out in 2010 and 2012.
2) They DO KNOW but are covering their a$$es. Which should be even MORE of an outrage and a bigger reason to vote them all out in 2010 and 2012.
SEEMS TO ME THEY WILL NEVER LET US KNOW SO OUR ONLY OPTION IS WE NEED TO VOTE THEM ALL OUT IN 2010 AND 2012!!!!!!!!
UNFORTUNATELY THAT WILL NEVER HAPPEN BECAUSE YOU "PARTY LINE HACKS" WILL NEVER ADMIT YOU AND YOUR PARTY ARE WRONG!!!!!!
Pragmatic - "Yes, we would have fallen harder, but we would have gotten up faster without the all the attendant government interference and debt."
What is this statement based on? The whole point of the bailout was to avoid a depression...not just in the U.S. but a global one. If all the banks fail, it would be a catastrophe. Saying that we would have fallen harder but picked outselves up faster is irresponsbile - you have no idea how far we would have fallen or how fast or slow it would have taken to recover. NO ONE liked the bailout, not Bush, not Obama, not the people...but it was necessary.
The mass elect the officials in office .You know what the bible said was the root of all evil .The greed in this country is disgusting .To better benefit the people of this nation ,where is our stimulus package?Instead of the billions of dollars given to the greedy corporations banks etc.Evil is still evil. Shame on you...
Very interesting! Citi just raised my rate to 19.99% and I have been a customer for over 20 years, never late, don't even carry a balance unless I make a big purchase on-line. So the little guy gets screwed again, higher interest payments enabled Citi to repay TARP funds quicker, now the feds are giving THEM a break on taxes? Cripes, where is our bailout?
"Treasury officials said the most recent change was part of a broader decision initially made last year to shelter companies that accepted federal aid under the Troubled Assets Relief Program from the normal consequences of such an investment."
Laws were changed to "shelter" companies who RECEIVED free money from consequences of such an "investment"? Who the F*** are they trying to fool? The companies received a GIFT, taxpayers made the investment. We should be the ones who are "sheltered".
This is just more smoke and mirrors being used to print false "repayment" headlines to promote the illusion of a "recovery".
So when I send in my tax returns will I get a wallet sized picture of a CEO I adopted and steady updates on his progress? Can I pick which bank he comes from?
So not only did we give them billions! we are now paying the billions! back to our selfs? So where is the original billions that was borrowed? Thats insane and has to be criminal.
Very interesting. They just raised my rates to 19.99% too, and I don't ever carry a balance on my card unless I am booking a vacation on-line. Let's see if they rescind some of their more strident rate increases to their loyal customers, NOT!! The feds should be helping the average customer get out from under the massive interest payments that these big companies have put on our backs. The way I see it, the rapid return of TARP funds has been through sqeezing the little guy. Give us a break for once.
peterb77
How do we KNOW this was a fact? Just because the SAME people that got us into this mess now were telling us it could become a depression? How the hell did they know it would lead to a GLOBAL DEPRESSION?????
You my friend give WAY too much credit to the same criminals that CREATED this mess to be able to get us OUT of it.
Years ago when a company became "TOO BIG TO FAIL" it was called a monopoly and broken down. Remember AT&T and the "Baby Bells". Now when a company grows to "TRILLION DOLLAR" status it's praised as an "institution"! All it has actually become is a massive money laundering company that was "TOO BIG TO WATCH"!
I work for a living - I don't steal, lie, cheat and get "rewarded" for such, like politicians and bankers do.
Where is my "tax break"?
IRS= Internal Rip-off Service !!.......
The clowns that ok'd the tax-breaks should be jailed for misappropriation of govt funds, as should the elected official that was behind it for accepting bribes (Campaign contributions).
Close every account you have with Citi...F them!!!!
Let me get this straight. Obama and his cronies arrange an illegal IRS forfieture in order to inflate the return so they look good in their kool aid drinking followers eyes?
And the real numbers show a loss!!
Beam me up Scottie!! I can't take this anymore and 2012 seems like an eternity away.
You can blame Bush, Obama, etc., anyone you want. When it comes down to it, it's the fault of the people who still do business with them. If you don't like how big business runs, stop giving them your money. I bank locally, and credit unions at that (they're non-profit, or didn't you know that?). I refuse to do business with Citigroup, Chase Manhatten, BOA, or any other national bank for that matter. The couple of dollars extra it might be costing me is going back into my state and my community.
If this country had any real solidarity, We, The People, would be those who decided which businesses got away with criminal acts and which survived, based on with whom chose to give our business.
Never appeal to a man's 'better nature.' He may not have one. Invoking his self-interest gives you more leverage.
-- Lazarus Long
Regards
Ahhh first we had slick willy
Now e have greasy OB
A corporation receives a tax break. Imagine that! What's this world coming to? Perhaps they will give more to a charity next year. Save the Super Models? Or, sponsor a new talk show?
USARogue, very good points but it won't matter who you put in Washington under the current system, they'll eventually succumb to the extreme power they have these days. Currently each US Congressman represents some 650,000 people. While I don't necessarily believe in bigger/more government, I would have to believe if if we changed congress in size so that our representation was closer to older numbers, as individuals the congressmen wouldn't be as powerful as they currently are. I also believe that doing so would allow more Independents to be elected.
Proud Pagan,
Nicely said! Thumbs up.
ENOUGH!!! You want inspiration?! Watch this...
http://www.youtube.com/watch?v=VP2p91dvm6M
How do we know that TARP avoided a depression? We don't. How do we know that if the govt had kept their hands to themselves that we would or would not have recovered quicker? We don't. What we do know is that the govt quadrupled the national debt in the past 2 years and there is no end in sight to their spending. (Giving tax breaks to these corps is just like spending money). I bitched when TARP was passed. I bitched when Glass-Stegal was repealed, and I bitch everytime I see yet another example of how stupid our politicians are. A lot of people (including myself) are writing, calling, and emailing their representatvies, but THEY ARE NOT LISTENING TO US!!!! THEY DON'T GIVE A @!$%# ABOUT US!!!!!!! Until you realize that fact and wake up, they will continue to do what they think will help them and screw us further in the process.
You want to call TARP a success story? That it prevented a depression? OK, I'll give you that simply because we have no proof otherwise. If that's true, then why isn't the govt stopping with the bailouts? Why are they looking at the paid back TARP money as a slush fund instead paying it towards the debt they racked up in order to get the TARP money? If TARP was a success, then why do they have to give tax breaks now because these companies are still in trouble?
The reason is that while the principle behind TARP might have been a good one, NONE of the recipients did what they were supposed to do with the money: They didn get rid of toxic debt. They didn't free up credit for loans. What they did do was to help themselves: They paid their executives bonuses. They bought up other failing companies who didn't get any TARP money. And they raised all of our interest rates.
They didn't deserve the bailouts last year and they don't deserve a tax break now. They deserve to sink or swim on their own.
Hey, great, the banks will be paying us back (ignoring the fact that they will be getting tax breaks, and our tax revenue as a nation will go down while spending continues to go up.) Now, how about the auto companies? Can we expect to see our $60 Billion back any time soon? I thought that they were also "too big to fail." I'm tired of saving hand-picked businesses with our tax dollars. What about other manufacturers like steel, paper, textile, and family care products that are allowed to fail every day? Do people think that those employees suffer less, and that their suppliers suffer less? The government needs to keep its hands (and our money) out of the private sector.
John we cut our card up also, we always payed early and more than needed and yet they jacked our rates up to 29.99 % lets see the SOB's get the huge bonuses next year when the card holders start to abandon them as they have us. Go figure one again the candidate of CHANGE has found a way to screw the little guy, I didn't think it possible but I think BO hates the middle and lower class American's worse than GW. RV the government would actually have to CARE about the working public to actually do something that would really help us instead of themselves and we would be dumber than them to think that the give a rip about us just their own pocket books and payoffs.
Obama is for the common man, not big companies!
I'm in tears - the justice of Obama is absolute. On bended knee I praise him.
This is just plain immoral...
Proud Pagan
I agree however when we did stop giving them money/using there services our government stepped in and gave it to them anyways against the will of the people.So you have to blame Bush Obama congress etc. They are the ones that saved them with our money and there the ones who need to be held accountable for it. What shocks me the most about this whole thing is we are going to pay the lost tax revenue so basically we are paying back the billions they received against our will and no one seems to know where those billions are.
Voter-in-LA
I agree that the problem is bigger than what I posted but I also endorse Term Limits, 2 terms for the Senate, 4 terms for the House. This will not allow these "LIFERS" in Congress from becoming so entrenched in corruption for 20-30-40 years. We have over 300 MILLION people in this country. If these 535 criminals in Congress are the best we can do, our country is in much worse condition than we can ever imagine.
I also believe there MUST be a true Line Item Veto to prevent the massive PORK that is ALWAYS attached to every piece of major legislation. Let each bill be proposed, debated and either passed or failed on the floor. Can you IMAGINE most of these Congressional criminals having to stand in front of Congress and arguing the 5,000+ earmarks added to the Omnibus budget?
I also believe in Balanced Budget Amendment, which requires a super majority which the Democrats have, making government responsible to maintain fiscal responsibility. But you and I know this will NEVER happen because Congress CAN'T be responsible, accountable and transperent.
These things along with true"Sunlight Before Signing" of 30 days for any major legislation and auditing the Fed and the Treasury to investigate the TRILLIONS of dollars in off-balance sheet transactions in the last year need to be addressed immediately.
But you and I know this will NEVER Happen.
Yea, it's a fairly typical liberal ploy to demand the opposition prove a negative that is impossible to prove, in defense of their destructive policies.
There have been several reports from various economists that support the idea that had the banks that were "too big to fail" been allowed to fail, a variety of things would have happened.
Yes, globally and domestically, we would have fallen harder.
However, because the of the debt incurred with the bailouts internationally, the ability for the global and domestic economy to recover is severely hindered in ways that it would NOT have been otherwise.
The ongoing artificial propping up of these firms is also not helping, and the credit freeze continues.
Not to mention the ongoing spending upon spending upon spending, heaped upon spending, resulting in the devaluation of the dollar.
I find them MORE believable than the continued defense of the Bush approach which is being continued by Obama, which will stunt our economy for decades.
What logic was used to give away the taxes this company owes? Citi should not be given a free ride here... This is just very poor judgement on the Administration's part! What are they signalling to other companies and to the US tax payer. Do I get a free pass when I can't repay my loans? I think not, so why does Citi? Pure and simple, this is foolish...
USARogue, those are all items every American should support.
It never ceases to amaze me though how congressmen earning currently $174K manage to amass millions after merely one or two terms.
And as an add-on to my post above relevant to the size of Congress, it just amazes me the lack of support there is by Congress and the Senate to ensure that the Census and redistricting that will occur as a result won't include illegal aliens. The Constitution states that Congress shall never exceed 1 per 30,000 population. The last time Congress size was permanently adjusted was in 1911 when our population was approx 74M. Sure we don't need a congress four times it's current size, but the "Power of the People" is surely being eroded annually.
Pragmatic,
First of all virtually all polling at the time of the bailout of the financial sector was evenly split with approval and disaproval consistent through all but the farthest right. It split about 1/3 support, 1/3 against and 1/3 no opinion some polling had the undecideds less but all were within a margin of statistical error of an even split. Many liberals were against spending money on corporate welfare a smaller number of conservatives opposed it. Other bailouts such as auto were almost universally opposed by conservatives if the dust had been allowed to settle and Citigroup, Wells Fargo and B of A would have flat out failed nobody in the world but the American Right believe the US, Central American, Mexican and South American banking systems would have survived. Canadas system might have but heavy US investment in all other American systems would have induced failure. This would have bankrupted the FDIC and necessitated the Nationaliztion of US credit markets, Nationalization and the cleanup of toxic assets would have been a more straightford and sensible approach but your whole scream socialism at every turn groups precluded it.
The idea of a hands off approach while the rest of the worlds central banks propped up their economies would have dropped us into at best the second tier of nations and brought about a global depression. Such a depression would have forced nationalization of all vital sectors and then you really would have a government controlled economy. Laissez faire in a society with a large middle class is a disaster for everything from OSHA standards, wages and well paying jobs to 401 ks and retirement. If the free market approach proposed for Social Security had passed and financial markets had been left alone virtually all accessible capital would have been moved out of US institutions and into safe foreign banking sysyems. The idea that we can allow our institutions to pursue some Victorian era econmomic approach while the rest of the world subsidizes industries, manages their currency, provides health insurance and a social welfare safety net while providing support from their central banks is at best naive and at worst idiocy.
JKHayes
Hey c'mon people, they need the cash from the tax breaks to pay those lil ole bonuses to their "talent".
/Sarcasm off
Eff em all! When will the American people wake up and get the business out of our government. The banking lobby is taking us to the cleaners on the public side and sticking it up our collective arses at 30% interest on the private side. End all corporate lobbying, private citizens only can talk to their reps - period!
We survived Jimmy Carter we will survive Barack Obama as well. There is NO WAY he will get re-elected in 2012 unless the Rebublicans run Micky Mouse or Sarah Palin!!
Kevin in Texas, sure that's true but the office of the President isn't the crux of the problem. Nobody can deny President Obama is ideological beyond comparison whether one agrees or disagrees with him. Has that changed anything though? What's the constant factor? CONGRESS. We could elect a fictitional character as President, if we leave congress the same, nothing will ever change.
Kevin - we survived Reagan and Bushes 1 and 2 as well but aren't we as a nation tired of surviving? We can survive with a Trillion Dollar Debt but we cant' EXCEL until we lose it. I can survive making minimum payments on my credit cards but I really can't live until the debt is gone.
We need to keep these people from keeping us divided, so long as they are able to keep us arguing they can get away with whatever they want. Like giving away BILLIONS of our dollars. This isn't a Dem or Repub issue, it's a governmental issue - both freakin parties do it.
Vote them all out, everyone of them. I'd rather have a Congress full of newbies who don't have a clue how to do anything, including steal my money than the experienced crooks we have there now!
mixman34
Excellent link. I've been watching Colonel West for a while now. He definitely has the right idea for our country. The problem is he has to have the support of the people in his district who just voted in a Democrat in 2007.
I hope he can make some noise though. I think he has a lot of promise if not in 2010 then in 2012.
"Hi, my name is Chris Dodd (or whomever will replace him). I'm going to completely ignore that the TARP payback was done while banks can still borrow from the Federal Reserve. This simply moves the amount they owe the government from one 'credit card' to another, issued by the same source. But this allows me to skip out on regulations even though I don't owe any less money, and pay myself my big bonuses!"
Wow. You banks sure are smart. Why aren't the people watching you?
Tampa Steve
Yes. And get the government out of our business.
John
remember this? Senate OK bill to rein in credit card Industry and many said it will raise rate. what happen they raised there rates,
Good post Jim Hayes. It's been two hours and no crazy people have tried to dispute it so far.
the credit card reform act didn't raise the rates of the cards, it was the delay in implementation. If congress had implemented a rate freeze right away, we wouldn't have seen the big increases that we got got stuck with.
Though, it wouldn't have mattered with citibank and BofA seeing as how they jacked up their rates in December 08 right after getting bailout money. I guess now that citibank is getting a big tax break, it will give them yet another excuse to raise rates again.
Jim -
Says you. A lot of economists disagree. When it comes to government meddling, I tend to prefer they NOT and therefore tend to side with the defense of the negative which is obviously impossible. The fact that other governments DID meddle, did rather force our hand, on that I will agree. You can splinter the 33% approval rating Bush had at the time as many ways as you want in liberal, conservative, whatever factions, the fact remains that 67% did NOT approve. We can agree to disagree on this, because either way what's done is done. I'm just saying, don't be surprised at ongoing criticism, when so many people didn't suport the bailouts in the first place.
Are you awake yet?
Of course that legislation resulted in higher rates than would have happened had they NOT passed the legislation. What business that doesn't want to stay in business doesn't insure their profits to the extent they can? Yes, the delay from passage to implementation gave the credit card companies maximum time to put the screws to EVERYONE not just the "bad" risks but again, in an attempt to defend government meddling, you're asking for proof of a negative - that rates wouldn't have gone up as much if Congress hadn't acted.
Just like pharma. How much do YOU think their rates would have increased this year, had Obama NOT struck a deal with them to give back $80 billion in exchange for any health care legislation stipulating that the government could not negotiate for rate reductions on Medicare/caid patients? The same 9% they increased them already, which earned back that $80 billion plus a nice cushion?
You realize, Obama made the rookie mistake of not demanding price increase caps, right? Intentional? Yes, I think so. Because pharma matters more to this administration than actually - not just in talking points but ACTUALLY - saving the people of this country money.
It's disingenuous, at best.
Another "bailout" of sorts?
Why, again, do I need to continue paying on my mortgage to them?
Haven't I paid them enough?
Another example of corperate welfare. It would be nice to see this administration start treating the American people as generously as they do big business and the banks and financials. I realize that is a pipe dream.
And the public has the power to vote these people out and for some reason - will not ..... Bush for example - after the public clearly saw he lied - they re-elected him again to do more of the same. If he'd lie once - he'd probably lie twice and he surely did starting some very expensive wars in the process. Obama - he had a slick story - of "too good to be true" promises to "fix" everything - and got elected - why ? not because people believed he could - but because they were enchanted with the idea of a literate black president - something unique - now they can pay for it ....
And all of this is why you are where you are today .... now who IS really ??? at fault ??? And what are people going to do to change that ? And when are they going to do it ? Or will they simply complain forever and take whatever they are handed ? That is the easy way out - and most people will probably choose it and remain exactly where they are - except paying more of what they do not have ....
Revolution now!
I'm for revolution now! We all start the revolution in our own homes. We only bank with local banks and we only buy American, Made in America. We only buy American produce and American Beef, we are the only ones able to save our country, start today!
Good luck to you on that. Where will you find American made products.You will get very cold and digusted. I look for American made every time I go shopping but even simple things like Calenders are made in China
I don't look for 'Made in America' at Walmart, I know its hard but that is the only way we can take our country back. If the items made or grown in other countries sat on the shelves then the stores would give us what we want. We are the only ones with the power to spend our dollars on American items. Imagine the joy we would get if every factory that moved to another country and took our jobs went belly up because we can't afford to buy the product because they aren't paying us to manufacture it.
Tried to buy my 4 year old a bike and a helmet for Christmas. Looked for 3 weeks at a dozen stores and all I found was "Made in China".
Thanks for nothing Clinton, Bush, and Obama.
We need a new chain of department stores called 'Made in America'.
And Obummer wants to agree that the U.S. will cut greenhouse gasses while giving "developing countries" a pass. Do any of you believe that will result in more or less manufacturing in the U.S.????
Yes we were duped into voting for Obama, he is just another Good Ol Boy looking out for his own.
Jane K
And Wal-Mart should change their name to "Made in China".
Remember when they were they were the "Made in America" store?
I also look for "Made in U.S.A" on items. But i don't think one could find enough U.S.A items to stock a store.
Its kinda funny in our society where there is stigma against the poor getting government handouts but yet corporate welfare is ok?
Its the liberals that are for corporate welefare, most true conservatives wanted to the the corporations fail and go out of business.
True conservatives? There's only one in Congress... The rest of the "moral" conservatives are no different than the so called "tax and spend" democrats. The party lines don't accurately reflect any differences. The only difference is that Republicans are proponents of white people and fundamental christianity. They'll still spend like any other democrat government will.
Too bad Ross Perot did not stick it out. He was right on when he said that sucking sound you hear are all of the jobs and money going to foreign markets.
Bush for example - after the public clearly saw he lied - they re-elected him again to do more of the same
I think you are wrong about this, the official vote said he won, I and many americans were shocked and awed when the news came across. Bush stole the first and second elections, once with the help of our supreme court.
Ross Perot
Mike I voted for him, he would have made an awesome president. He wanted to run this country like a business, the way it should be. You think he will run again? Jesus I hope so.
The only businessman that I would trust to be President is Ross Perot. He made nice looking cardboard slides - remember?
Madraven he made sense back then and he still makes sense now. However, I don't think he is interested in running.
isn't this just one more outrage added to the many outrages that Obama has permitted on his watch? CHANGE??? what a lot of CRAP!!!!!!!!!!!!!! the obscenely rich are just getting richer, if that is possible, and the rest of us? WELL, the rest of us are expendable. we don't matter. we are just votes. we are SH*T. only the people that line the pockets of politicians with ill-gotten gains matter and are the benficiaries of Obama's largesse. While Citibank or Citi holdings or whatever corporate shell game entity they call themselves is giving out $100 million dollar bonuses, we give them a multibillion dollar taxbreak after we gave them a multibillion dollar bailout. America is a great country- FOR THE UBER RICH ONLY, others need not apply!!!!!!!!!!!OBAMA how could you????????????????
As long as we keep kicking each others arse over Bush and Obama and Clinton and Bush the politicians have no reason to change things. We distract each other with petty effin arguments while the government gives OUR MONEY to big business who then gives it back to OUR REPRESENTATIVES.
So long as Big Biz keeps financing their elections and they keep us distracted with petty effin issues things will never change. We're too busy calling each other morons to stop them from stealing us blind! MY guy is just as big of a crook as your guy - lies, wars, missing emails, crap taxes - we can stop it if we quit beating on each other and start beating on them. They understand this that's why they do stuff to keep us going after each other instead of them!
I'd settle for some fiscal responsibility from both the Congress and the Administration. With all their spending of monies that we don't have, be prepared for inflation to kick in soon.
Inflation has kicked in - go look at your local store.... many have "specials" 2/$3 or 3/$5 and if you look at the price - the same item last year was .99 cents each .... so 2/$3 is $1.50 each - near double the original price - but hidden as a "special" ... that's what you call inflation - things cost more .... take milk for instance - a while ago it was $2.00 a gallon, or less - now it's near $5 a gallon or more ..... Inflation is here already - cept no one saw it arrive... wait til the Fed raises interest rates - then you will really see inflation.
A few years ago cigarettes were $2 a pack - or less in some places - now look - at least $4 or more in most places .... isn't that inflation ? Chewing gum used to be twenty five cents or less - the package is now smaller and the price well over doubled ...
Yes... I'm sure inflation will kick in soon ....
The article about inflation is the third one down at the bottom of this article. It's very decieving how "they" make you think your getting a deal with the "2/$3" deals.
NYS cigarettes are around $8 with all the taxes. Inflation arrived a long time ago. I used to stock grocery store shelves 20 years ago bread $1 day old $.50, now $2. Basic white bread store brand. Consider this Citibank jacked rates to 29.9% of which your monthly bill will be 90+% interest let alone be 1 minute late, slow mail room ya know now that loaf of bread cost you if you ever paid the balance off no less than $6-10. My Citicard was high balance partly used to keep my business alive during slow seasons until they cut credit usage in 08/08 when I had it paid down by about 60% even at 29.99% apr. Immediate damnation to small business. Cross the board to customers that loaf of bread will be like buying Fillet Mignon. As it was when fuel was needed following up to $5/gallon diesel in 08 that if it got paid for within a year would cost $6.49. 2 years $8.44. Inflation is paid in blood by us already. As I battle these creditors with the only means possible Discover I think I assessed maybe 12K borrowed over 9-10 years and had paid back 28K the balance is over 100% of the original yet they demand more. Funny how 6 mo at 0% and a restructuring payments in 99 so I could get out a $5K truck balance cost me to date closing in on triple that. I think inflation set in years ago. Of course they can repay TARP funds quickly they manipulate stock prices buy up stocks at low prices, stabilize with our money, increase stock prices and yet again profit. They are going to be the avenue for small businesses to come back to life, ok! They've been eroding it for years. Revolution, it's called chapter whichever and try again in 5 years as the government isn't going to do what it should to keep the 12.2 M small business owners producing. I hope I am wrong, so far I would've been better to get hit by a car on roadside. Grants/low/no interest loans to small businesses is going to be the only saving option.
power of small business check out SBA.org, or US Census small business statistics, are 97.3% of all US Businesses with under 10M in sales. Wonder why you're here instead of working?
cq92 wrote "A few years ago cigarettes were $2 a pack - or less in some places - now look - at least $4 or more in most places .... isn't that inflation ? "
No it isn't inflation. The increased costs are called a health tax.
Smoker dies at say 55-60, maybe endures 2-3 years of medical problems. Never collects SSI, uses medicaid, maybe when it takes them out of work say even the last year they live. Average person lives 70-80 collecting SSI, increasing medical costs with age, to the point of eventual 100% nursing home care. That argument has always been lopsided and looks at short term costs. Life long costs are higher to be healthy. As age increases new diseases pop up costing more to investigate, and treat. I'm sure it cost more for my grandma to live to 99 in a nursing home 15 years +ssi +home care + + + or so than step dad trucker that died in his truck of emphasema. Working til the day he dropped. Another fleecing of Americans to have a choice albeit a bad one, still a choice. Being as I'm not a robot programmed to do what the man sais, I prefer my choices even my bad ones. I prefer not to fund yours through bailing out the same people that kept my payments high decreasing my families standard of living for a decade or more. They chose to stop lending when they were being paid, I chose not to pay them anymore, and I choose not to support any political party propping them up higher on their almighty pedestals. Choice, it used to be in the Constitution, not a Red Book. I chose to serve the country that fought communism and middle east terror when I was growing up. Do not try t take my choice as our forefathers meant for them to be there.
Yeah, a big thanks to my state and federal governments for the cigarette taxes this year. I watched my father and uncle die of lung cancer but only decided to quit when the US and FLA increased the taxes $1.43 a pack in two months! I quit to keep the bastages out of my pockets, not to save my life.
Tobacco free since Memorial Day. Now the pukes are trying to ban the E-cig that helped me quit - go figure. Somebody big must not be making money off of it.
We DO already have inflation and very high although unmeasured by the Powers that Be. Just look at the size of the actual products you buy compared to their packaging. I bought breakfast bars and they have lost a third of their size when compared to the package they arrive in... Our money is WORTHLESS, I spend twice the $'s for groceries buying the same products as I did one year ago. Who are they trying to kid???
If you think inflation is bad now, wait till it really gets going.
And think of the impact it will have on the unemployed who are still trying to find work, and those on fixed incomes.
Here we go again. The party of the rich, enriching their billionaire buddies.
We can't afford a taxpayer tax holiday, but we can afford to continue to throw BILLIONS of dollars down the CORPORATION tax hole?
And they wonder why the approval rating of Congress is under 20% and Obama has the lowest Presidential approval in the first year of a presidency in decades. A change is definitely coming.
A private working class individual would be raked over the coals and have everything he owned confiscated if he didn't pay up--why should these scumbags get any breaks? They only exist because Odumbo the Combo 's administration used tax payers' money to bail their sorry asses out of the mess they created.
Lucy,
TARP was a GW & company program that began with a 3 page request for $750 BILLION with no oversight. At the time we were told that this program was needed "really bad". Well, the tax payers got a really bad program. What a suprise.
Jim - A three page request can be read and understood in a matter of minutes - unlike Obamas's 1000+ pages of health care overhaul - that thing is s blessed book - not a plan ! Secondly - Bush requested money to do a job - plain and simple and easy to understand - but Bush is not in power anymore and Obama has asked for far more and many more times and spent more and IS in power - so who is running the show ? Bush or Obama today ? And even if I am not a Buah fan - I have to say Obama is far worse. Just look at what he has spent and the debt he has caused since coming into office.
Now look at the other side of the coin - Obama had full choice to be done with TARP and also had free choice to NOT spend - did he do that ? The answer is NO - instead he spent far more than Bush and then blamed Bush for causing him to do that .....????? He could have easily taken an approach of smaller government - cost cutting - elimination of spending and worked to pay off debt - he did not do that! So who is at fault - Bush who made the debt or Obama who failed to work to pay it when he got into power and instead increased it by far more ?
Let me put it into simple terms - you give buddy a credit card and tell him it has a balance - he can use it if he pays it - he pays nothing and instead maxes it out - so who created the problem then of paying it off - you or him ? But it's your card - the American public's credit card... and Obama is maxing it out - then going to walk away - cause it's not his card.... in the end - it's you stuck with the debt and you that's gonna be sorry for trusting ...
Obama, in a stunning and rarely repeated show of decisiveness, voted FOR the TARP bailouts while Senator.
There is medication for your Bush Derangement Syndrome.
It's called reality and the present tense.
You guys are falling right into the trap they have set for you. As long as you bicker about "bush this" and "obama that" nothing will change. They are both a part of the same party, the business party. They all went to the same schools, and are a part of the same commissions and fraternities. There job is to fleece the American taxpayer, and hand that money over to their owners, which ultimately are the bankers and other corporations.
The supreme court will soon hear a case that may remove all ability to temper the amount of money a corporation can give to a political campaign. Corporations today are given the rights of people, and the court is going to hear a case where corporations are claiming that limits on campaign contributions are an unconstitutional limit on their FREE SPEECH! Since when did a corporation become a person that gets more rights than an actual flesh and blood human being?!
So go on bickering along party lines, while the corporations work with both parties to achieve their end, which is to OWN YOUR ASS!
alas, Lucy, you are right.
I really believe that the American people should resist paying taxes. The less of our tax dollars they get they less damage they can do. In any light, there really is no law stating we have to pay taxes anyway, its all a scam. "taxation without representation is tyranny". Has anyone here been consulted about any tax increases or asked if it was ok with me or you to give the banks our tax dollars? or to give my tax dollars to the military so they can use it to kill innocent women and children? The problem is we're afraid of Uncle Sam and the IRS. What fools we are......
jpfs52 why don't you quit paying your taxes and send us a post card from your cell when Uncle Sam gets done with you? Many of us would rather complain than get active like you.
That's the problem Mike, if EVERYBODY stopped they wouldn't be able to do anything about it, not enough prisons. What they are doing IS taxation without representation... and I'd rather spend a few years in the pokey after burying my 10 years of taxes in a hole somewhere that will be there waiting for me when I get out... than give this country's crooked gov'mint another dollar of my hard earned money. STOP PAYING YOUR TAXES!
Being a owner of a small business, why can't I get a tax break? I guess you get nowhere when you don't buy off politicians.
exactly... google the case to come before the supreme court regarding corporations and free speech, it will piss you off.
That damned Bush!!!!
Bush has been long gone for some time now - try being accurate and saying "That damned Obama" - you might be closer to the truth then .... and he is actually the man in charge now running the show.... isn't he ? Or is Bush still somehow mysteriously making the decisions ?
I think Jerry was being sarcastic.
Probably was ... LOL !
I blame them both, and so should you. Bush dug the hole we're in now, Obama's digging it deeper.
"New Boss...Same as the Old Boss"
ya mus be nice they get all kinds of tax cuts and breaks we get shat and have to pay for more taxes..this goverment really sucks impeach them all..
Everyone go exempt on their W-4 for the year 2010. No money collected no money to spend (sarcasm) since we know our money is worthless anyway.
Pride goeth before a fall don't it now ???
Off topic: This is common misquote.
Pride goes before destruction. It's a haughty spirit that's before a fall.
["Pride goeth before destruction, and a haughty spirit before a fall." Proverbs 16:18]
If we all go "exempt" on our W-4s the govt will just borrow that much more money to keep operating through the year. And then at the end of the year how many do you think will not be able to afford the big tax bill they are going to get? I know I wouldn't. there goes more govt spending to go after those people and of course the lawyers will get rich "defending" the tax cheats.
Yeah, thats a really good idea. (more sarcasm)
First they get a bailout, then they get a tax break - what does the average person get - the "Joe Plumber" Obama made such a fuss about a while ago ? He gets a health bill that will force him to buy insurance and get fined if he does not - if he is 55 the Medicare provision in the new health bill is "unavailable" it's been scrapped so those people that can least afford it are also forced to pay - after they have worked all their lives paying into it - and meanwhile Obama is doing nothing to address the job losses and lack of employment - instead he wants to raise costs for employers if he can, then says "it's up to the private sector " to get the economy rolling - after he has given banks billions to do exactly that - and they have done nothing except raise fees and continue to take people's homes.
Do people realize Obama is doing more damage internally - right within the country - to everyone than anyone overseas in Iraq or Afghanistan could ever do ? But he's "sugar coating " it all so people think he is wonderful ...... and they lap up everything he offers or says ... and many say - "give him more time" ... exactly what he wants and counts on .... and the politicians in Congress and the Senate are following right along with his plans......
People everywhere are gonna be in for a very rough ride in the next year and far more if Obama has his way now, passes laws he wants and no one stops him.
At this point I am thinking that 'Yes we can' meant that the government can continue to screw over the people and give to the rich.
Apparently and you know some people still continue to blame Bush - not that he was that good anyhow - and the very same people refuse to even see Obama is running the country now and it's his actions since he came into office that are causing all of this .... he's done nothing to reverse what Bush started.
I agree, cq92. Nothing has changed over the past year. Corporations are still getting handouts, and we're no closer to either finishing the job in the mideast or bringing our troops home. I still think Bush was one of the worst presidents this country has ever had, but I don't see anything changing with Obama.
This is not a unilateral decision by the IRS is it? I smell TG here. The politicizing of the IRS is corruption of the WORST sort.
And IF, and that's a BIG IF, the IRS DID act in a unilateral way, then heads should roll and this should become yet another and strong reinforcement for the dissolution of this questionable agency.
At the very least, the American people are BETRAYED YET AGAIN by the very government that is supposed to be serving US and NOT the "too big to fail" giant corporations!
Justice should be DEEPLY involved with getting to the bottom of this as should the Supreme Court! This is nothing less than the manipulation of a lawfully placed and presumably inherently neutral and servile American agency.
Where is Treasury on this? Where is the President on this? Who gets to MAKE UP the billions lost as giveaways to thieves as concession to pay their bill?
Are you surprised ? considering who is in power right now ? You have a man in power that controls the country - says he has a transparent government that refuses to disclose anything - and himself refuses to even disclose valid proof that he is a bona fide citizen - and so far has spent far more than anyone else in a shorter time and is trying to pass laws to force people to give up their freedom of choice .... and has spent a good deal of his upbringing in foreign countries, countries that are not necessarily friendly to the US ... what do you expect ?
Y'know, I am so sick to death of the Obamabash song and dance and crowd in general that clouds important issues and says or does nothing useful or constructive.
How about asking ADULT questions and seeking ADULT answers instead of calling names? How about being an American citizen instead of an unreasonable hater?
This country is under ATTACK! This country is being destroyed from within with a war that has been waged for DECADES!
It's NOT about birth certificates or color or party. It's about MONEY and POWER and CONTROL! It is literally about slavery versus a free people.
There are things going WRONG here that are not the responsibility or under the control of one person who walked in the door 11 months ago.
There are plutocrats who want nothing less than your life and wealth! There is a hegemony that wants us GONE! There is a group of people who thoroughly believe that they are the elite, the endowed, the entitled and the enabled and that the rest of us are just so much dirt under their feet that needs to be swept up and thrown out! THESE are your enemies! THESE are OUR enemies!
TG may have been a mistake. Like other Goldman Sachs insiders it is HE who may be the large problem. Then again, maybe not. The best place to get information about how criminals think, one must understand criminals. One must embrace the Devil to see his heart. The trick is not to let the Devil get the upper hand.
This ploy with Citigroup is potentially heinous and clearly demonstrates that the balance of power is NOT with our own government, with all its size and power, but with the monied "Haves" who are capable of the most underhanded dealings ever perpetrated by organized crime.
Another question pops into my mind. Is TG playing the "Haves" against themselves or is he still heart and soul one of them? Whose team is he really on? It's a watch and see game. One thing is clear to me though, if the Republicans HATE what TG is doing, there just might be some merit to it.
Please do NOT use my comments in future as springboards to dance the dance. Please keep an open mind and focus.
Well, just ask yourself this - WHO IS RUNNING THE SHOW AND WHO IS PRESIDENT now - and then you can answer who is responsible and who gets bashed for not doing their job at all.....
The important issue is JOBS and EMPLOYMENT and Obama has done next to nothing on either issue - but priority one for him is to overhaul health care and at a huge taxpayer cost. Give your head a shake .... he deserves to be bashed because he's behaving like a witless moron and has no clue of what IS important - do you still want to defend him ? Or do you want to look at what is in front of your nose - a useless president that ought to be replaced ASAP ?
"Y'know, I am so sick to death of the Obamabash song and dance and crowd in general that clouds important issues and says or does nothing useful or constructive."
"... HE who may be the large problem. Then again, maybe not."
If you are not even sure what the problem is - how do you ever hope to solve it ? Or even make a rational decision ?
It must be GLORIOUS to possess all the answers and tell no one what they are. Why don't YOU run?
Yankee -
How is this NOT on Obama? How is the stimulus, the dithering on Afghanistan, health care, Crap & Tax, ANOTHER stimulus with paid back TARP (currently illegal), obligating billions to "climate change", etc etc etc , NOT on Obama?
If it were Bush, he would be blamed - and rightfully so. He's STILL blamed, even though he's out of office almost a year.
The President sets the tone, he makes his appointments based on that tone. This particular decision may not have been made by him personally, but you can be sure he knows about it. Come on, he and Turbo Timmy talk every day - seven times at least.
This is just an example that poop rolls downhill, which we already knew.
Tunnel vision is clear, there is no doubt. What tunnel vision is NOT is expansive. By its very nature it blocks out other perspectives which may, in fact be the truth.
Obama may, and most likely IS culpable for a great many mistakes and possibly misdeeds. He is NOT and can NOT be the root cause or even the willing perpetuator of all the ills that beset the United States.
My contention is the classic. If you want to go to the root of the problem, follow the money. This time tested principle is STILL one of the most forceful and logical routes when there is criminality involved.
This nation is BESET and RIFE with BIG MONEY criminality. THIS is the problem that is undermining who we are. THIS is the source of the vaporizing of democracy. THIS is the basis for a "new world order".
If Obama is purposely furthering the cause of the "Haves" then the insidious network that is reducing mankind to thrall may be unstoppable and we are lost. I can hope not but I will continue to study all avenues and approaches to reach the truth.
Let's face it, we all react to the information that we gather but we also react to the information we are fed. If you limit that information with tunnel vision by adopting a stance and view that will not allow a distant truth to penetrate, then you will never even see the truth, never mind use it.
I am not convinced that Obama has less than the best interests of the country at heart. I am not convinced that he is not a stooge. I am not convinced that he is not the Anti Christ himself. What I AM convinced of is that I don't know...and neither do you.
What I AM convinced of also is that I am sick to death of the Obamabash song and dance. Let's just look at the ALL the information available before passing judgement.
You want to sit on the fence, be my guest.
I've hopped down on the side of freedom and liberty, myself, after having voted for Obama, climbed up on the fence myself after the first few months, and over the last few months decided - One Big Arse Mistake America was pretty accurate.
Well said Prag - what still amazes me is how many sheeple are still out there that have not come to their senses yet. Bush was a nitwit, but Obama is just downright scary!
Where's my tax break? Prior to losing my job last Feburary I took a $30,000 401k loan out and Fidelity Investments wouldn't let me pay it back. Besides the 20% penalty i have to pay more taxes on it. If anyone has any advice i'd really appreciate it. Thank you
Well, the loophole is this - if I understand the law correctly - if there is a debt and the holder of the debt is offered a payment or any payment and refuses - for example walk in with a certified check for a payment and have a witness and get a written refusal of them to accept the payment or a witnessed refusal - then the debt no longer exists because the holder of the debt has refused payment. A good lawyer could probably have the entire debt thrown out if you go about it the right way.
Again if I understand it correctly - where a debt exists - either the lender is obligated to accept payment in any amount - and if the lender refuses payment then they are making it known there is no debt and you owe them nothing. Check the law - I'm sure you will find this to be true - it's not what the bank says - it's what the laws concerning debt actually read.
Another law that may be relevant is if a person makes all reasonable efforts to repay a debt and is refused and can prove it - a court may rule that nothing is owed then because the lender has refused to accept payment. The court may also rule that the lender must accept a reasonable amount if the debtor is willing and able to pay. It's then not what they want - it's what they are being told by law that they will get. The bank no longer makes the rules once they have a court order of what they have to take.
whats this another attack on the middle class from the army of Lieberman? Schumer go get em PLEASE
trillions of dollars in debt and the IRS is licking the spinchter of the banks and if you thinks thats cross wait till your 30% credit card bill comes due on X-mas day
The biggest attack on the middle class was perpetrated by the Democrats, dude. Remember the subprime disaster? Fannie Mae? Freddie Mac? Dodd? Frank? Pelosi?
They crushed the value of our biggest investments for the foreseeable future. They were warned. They ignored it.
http://www.youtube.com/watch?v=1RZVw3no2A4
I wonder what would happen if all working Americans went into their HR departments and had $0 withheld from their taxes. I'll bet the treasury would come up with the money to build lots of prisons for us. All of these banking execs should be in jail, not being given our money.
No wonder most of these banker/Wall St types voted for Obama.
http://www.nypost.com/p/news/opinion/opedcolumnists/the_two_faces_of_oTswtJpCjQusQCFCMdiluJ
http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/print
Who is the government answerable to, the banks or its citizens?
I think you know the answer to that.
Merry Christmas,
President Obama
As a small business owner this makes me sick. Work hard - get screwed. Screw consumers - get bailed out and get special just for you tax breaks. This is grossly unfair and a slap in the face to most hardworking individuals and small businesses.
Way to go IRS. Continue to help the fat cats because they deserve it. NOT! You certainly didn't help me when I made a mistake on my takes. I had to pay for that and I am on disability. It will take me a year to pay off the $2,800.00 that I owe, but I will do Wish IRS would bend the rules for me. The Bush and the Obama Administration are about the same as far as I can tell when it comes to helping out the rich. America. Gotta love it.
They do pay almost all of the bills around here so don't be too hard on them.
http://www.taxfoundation.org/blog/show/24944.html
When do the riots start?
Let me know because I will be there.
Probably they will start when enough people no longer have unemployment or a job and cannot get either and have hungry kids to feed and rent to pay - at that point they do not care and will so what it takes to change it all.... at that point when enough of the public are in that situation - they have nothing to lose and will do whatever they have to so they can get what they need to survive.... until then they will praise Obama and re-elect him.... and say - just give him more time .... when it finally sinks in that he is causing it - then they will turn on him ...
Alan,
They (Americans being in the streets) are way, way overdue. The Patriots of the 1770's must be spinning in their graves as Americans stand idly by, while our country is ransacked by politicians and Wall Street bankers. Even the normally placid, socialist Norwegians have more guts than we do and are out in the streets. I think we need to send our "motto" (Land of the Free, Home of the Brave) over to the Iranian student protesters!
How mush are they going to have to donate to the 2010 democratic election fund???
Hey democrats, how do you like that change ???
Come on Soccer. Obama is living up to his promise. He changed the amount of debt America is in. Now the only change we will have is the change in our pockets.
Saw it yesterday from an astute responder:
Transfer all your accounts to your local small bank or credit union. If enough were to so act, the big banks might get the message.
One day, if there's anything left, we Americans may just tire of the greed and lack of ethics and return to that which we once simply took for granted: VALUES.
Well, Nero fiddled while Rome burned and the politicians of America bicker about how much and if or how they should change health care - while the rest of the country falls down around their ears due to unemployment and those same politicians think they are great and important ..... not realizing they have no confidence of the people to govern and are nearly ready to be thrown out .... The same politicians spend more and authorize more huge debt - all the while not realizing - they have no money to start with ... they live on borrowed time... and their power is mostly imaginary - not real... someone else is making them dance on a string ... in the end - you are right - there are no VALUES !
Both Administrations and Congress have allowed and are currently still allowing banks to continue cheating and stealing from tax payers. It's so obvious that the repayments are nothing but a ploy to enable $billions in bonuses to paid to "fat cats."
The danger in the premature repayments is it could destabilize some of the banks next year requiring further tax payer financial assistance. The banks are basically "having their cake and being able to eat it too." They win both ways at our expense.
No matter which party is in power, the bottom line is they were and are still responsible for this fraudulent behavior regardless of the phony rhetoric and toothless legislation they claim are "banking reform."
No. The people at fault are those still using the services of such businesses. You all are so eager to boycott the government, but will not boycott the businesses who are primarily responsible. It would be like trying to get people to boycott Walmart. "Don't you dare suggest I should give up my discounts and EDLPs!" So in trade for a few dollars of comfort, you allow a financial tyrant to be kept in business, and blame it on the government. And they KNOW that.
Go change all your banking to local banks, suck up the extra cost (which doesn't actually amount to much any more), and help send a concerted, nationwide message that "fat cats" will die when we refuse to feed them.
Or are you gonna just sit there and whine that someone else has to do it for you, so you can keep a few creature comforts?
Regards
What can we reasonably do against bankers, businessmen and lawmakers, all helping one another, who are infinately smarter than the rest of us? Half of what the new stories talk about the normal person doesn't even understand, like derivatives, tarp, underwriting. They're an untouchable nation; what can we possible do?
What can we do? Study and learn Financial and Investment Basics. These criminals depend on the majority of the public being finmancially illiterate.
Check this statement out:
"The IRS, an arm of the Treasury Department, has changed a number of rules during the financial crisis to reduce the tax burden on financial firms."
The Treasury Department and, in fact, the White House and Congress are arms of the financial firms including Citibank. Our country is being run from here: www.bis.org.
Wake up.ppppp
its time for the PEOPLES LABOR PARTY to begin recruiting.
We can win...
Bipartisianship ..... one ship two parties same direction
We need representatives of the working people, by the working people, for the working people.
Let's go. I'm on...
Looking forward to the website....
Proud Paga, For your info I have already changed my banking to a smaller Federal Credit Union and am very happy with their friendly and better services. So don't assume that I am whining only and not practicing what I preach.
It's people like you who refuse to adapt and adjust because you're too lazy and or greedy to make the change. BTW, you seem to have a bit of an anger and bitterness problem, have it checked out.