Subscribe to Moronmeter!Team Obama Bank System Management: Change You Can Bereave In?
Are we living in Bizarro World now? Is the government really forcing companies to take government funds, claiming for itself the right to set wages for those companies that have taken government funds, and then refusing to accept repayment of said government funds by companies who don’t want and don’t need them? Have corporate bonus payments (and wages!) now become just a regular part of the the political largess system in the U.S.?
First, from the Wall Street Journal, Barack Obama Maintains Control Over Banks By Refusing to Accept Repayment of TARP Money. Maybe there is some misunderstanding here or part of the story isn’t getting out, but if there is any bank that wants to pay back the TARP funds they were ‘given’ (or, in some cases, had forced upon them), how the heck can Team Obama justify not accepting the repayment?
Next, to the Associated Press, Fannie, Freddie worker bonuses total $210M. Will Senator Christopher Dodd (D-CT) be hitting the news show circuit to express his outrage over this? Will President Obama and Treasury Secretary Timothy Geithner be doing everything in their power to get that bonus money back? Why was there such a media frenzy over the AIG bonuses, but these seem to be slipping by with nary a whisper?
Hasn’t this sort of stuff has been tried (or still goes on) in places like Russia, Cuba, Germany, Venezuela, and China? I can’t say I’ve been too impressed with how those places turned out (or in Venezuela’s instance, is headed). Does anyone else feel a little uncomfortable with the type of power grabs that seem to be going on these days?
In other words, is this really Change You Can Believe In?
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