Oct 3, 2008 HR 1424 was the first of the bail outs. Geo Bush signed a bill, known as TARP, passed by Pelosi’s Democrat Congress. It was designed to “save” the “too big to fail” banks, but it was also used to take over the auto industry. H R 1424 YEA-AND-NAY 3-Oct-2008 1:22 PM QUESTION: On Motion to Concur in Senate Amendments BILL TITLE: Emergency Economic Stabilization Act of 2008 http://clerk.house.gov/evs/2008/roll681.xml Yea Ney Democratic 172 63 235 54.1% Republican 91 108 199 45.9% TOTALS 263 171 434 60.6% 39.4% Nov 2008 election swept Democrats into office with a filibuster-proof Senate. Obama was elected; Reid’s Senate refused to prepare a budget. Dec 2008 The Auto Industry Bailout Why GM, Ford and Chrysler Asked For Government Loans http://useconomy.about.com/od/criticalssues/a/auto_bailout.htm Jan 15, 2009 Congress Moves on Stimulus Bill and Bailout Money http://www.nytimes.com/2009/01/16/business/economy/16webstimulus.html?_r=1&pagewanted=all Jan 27, 2009 Bank bailout could cost $4 trillion Banks don't have enough capital to fix their problems, which means the Obama administration may need a lot more money to clean up the financial mess. http://money.cnn.com/2009/01/27/news/bigger.bailout.fortune/ Congress is awesome http://roscoandroy.com/ Feb 13, 2009 H.R.1068 Let Wall Street Pay for Wall Street's Bailout Act of 2009 http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.1068: Mar 15, 2009 A.I.G. Lists Banks It Paid With U.S. Bailout Funds http://www.nytimes.com/2009/03/16/business/16rescue.html May 26, 2009 Where Did The Bailout Billions Really Go? When Congress passed the $700 billion dollar bailout, the whole idea was to buy failed mortgage assets. But once the bill became law on October 3, Henry Paulson's Treasury Department moved quickly on an entirely different front: Give bailout money to select banks to help them buy competitors. http://www.cbsnews.com/2100-18563_162-4717298.html and May 26, 2009 Following The Bailout Money To Wells Fargo Treasury Secretary Henry Paulson quietly issued a document revising the tax code. Huh? http://www.cbsnews.com/2100-18563_162-4788018.html And then things got worse Reminder to pledge signers "We pledge to honor the Constitution as constructed by its framers and honor the original intent of those precepts that have been consistently ignored particularly the Tenth Amendment, which grants that all powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people." A Pledge to America, Republicans in Congress, September 2010 -- To join RichsRants, send email to: [email protected] For more options, visit this group at http://groups.google.com/group/richsrants?hl=en
