Congress Should Freeze And Nullify The Remainder Of The First Bailout.

[20score]

There’s still an estimated $350 billion dollars remaining of Bush’s October 2008 bailout of the financial industry. Since this money comes without oversight, and the first half of the bailout money did nothing to stimulate the economy, we should concentrate strictly on the new bailout plan, and stop the damage done by the first. So far the money given to the financial industry has been used to enlarge the institutions that were already ‘too big to fail’ and to give bonuses to executives that have hurt their companies and the world economy.

Congress can nullify laws previously passed by passing new laws that supersede the old. Since congress caused the loss of the first $350 billion by refusing to take the time to put in the most minimal of common sense provisions, like oversight, then they could at least take a few hours or days to save the rest of our money.

I’ve checked my copy of the Constitution, and congress does not necessarily have to work against the interests of the country. But after the last eight years, it’s kind of hard to tell.

[pauldp]

1. Damn right! K&R. nt

[ihavenobias]

2. To the greatest! n/t

[20score]

13. Thanks!

[Fireweed247]

3. exactly

I think if they were doing their jobs they'd get the money back that they did hand out, and while they are at it find the 'missing' billions in Iraq, and the 2 trillion Rumsfeld reported missing on 9/10/01. They have looted the nation right in front of us, there must be some way to stop it.

[Dragonfli]

4. K&R - nt

[depakid]

5. Disgorgement of ill gotten gains, an RTC and reregulation would be enough

for reasonable people at least.

For the burn, baby burn crowd of course- nothing short of absolute ruin for everyone would satisfy them... much like their Republican counterparts.

[slipslidingaway]

6. I doubt the Congress would go against Obama who asked for

the second 350 billion.


:shrug:

[4lbs]

7. You must not have read about what President Obama and Treas sec Geitner plan to do with the second

part. It was already mentioned last week.

[20score]

8. Yes I did, and it's better than what was done with the first half. But no oversight is still written

into the first bailout plan.

On edit:
I think we should concentrate on the stimulus plan for the economy.

[EFerrari]

9. Obama is in a difficult position. He walked into a hold up in progress. nt

[20score]

10. Ain't that the truth!

[suede1]

11. Exactly! K&R Bring this to the main page and maybe there will be some calls made.

[20score]

12. Well thanks! I'd love that. I'm going to call Jane Harman.

[suede1]

14. I have no idea if they've received any calls like that yet?

[ihavenobias]

15. Kick. n/t

[20score]

17. You rock!

[McCamy Taylor]

16. Should make them sit up and beg like dogs for it (on national TV) so we can laugh....

:rofl:

[blackhole]

18. I'm kind of tired of the government trying to "fix" things.

n/t

[suede1]

19. Come on people, give this some kicks and rec's. I dodn't want them to give away 350 billion

with nothing to show for it but debt.

[20score]

20. Thanks again

[hbskifreak]

21. Oversight?

Kind of a big word for our governmentors, isn't it? Great job as usual, my friend.

A