Obama team looks to revamp financial bailout

Now the only question is.......................Deal or No Deal?!?

um it's too late man. That money has been blown on cheap or expensive hookers and booze.

What do we as taxpayers/citizens do to get OUR money back from these damn crooks?  I watched an interview with Elizabeth Warren and she was frustrated as a member of the oversight board with the lack of information coming from the Treasury Dept.  I watched a congressional hearing about the Bernie Madoff case where members of congress were asking the SEC's inspector general about the complaint made against Madoff.  The inspector general said that the agency was so big that the enforcement department may have received it but that it never made it to his office.  Aren't inspector generals supposed to INSPECT complaints?

Regulation in this country is going to be a VERY hard thing because there are too many corrupt people in every sector of our government.  The most reprehensible thing about these bailouts is that congress is giving away our money to these companies in hopes that they will lend it back to us at substantial interest and profit via loans/credit lines.  I don't know about the rest of you, but I think it's high time we have a LOT more control over how our taxes are spent.

Referring to a question of why Treasury has required Citigroup, but not other firms that got money, to modify mortgages, the report says: "Treasury's refusal to answer this question is one of the most troubling aspects of their letter. The panel intends to do more fact finding on this matter."

Line after line of the column marked "Treasury Response" says simply, "No response."

I'm sorry but this 5th amendment/refusal to answer questions BS has to stop RIGHT NOW.  Has this country become a place where incompentence, insubordination, and embezzlement are rewarded?  Apparently, when the crooks can steal our money and congress passes a law allowing them steal it against our wishes.  SURREAL!

Why wasnt there a checks and balance system put in place here. The gov. goes after its taxpayers if they dont pay there taxes, but gives up money to companies that have no account ability. You cant blame the banks, our gov. should have taken these precautions in the first place. Now I understand why were in this mess.  The gov. doesnt take account ability either. Do what big brother says, not what b.b does. Pay ur taxes b.....

Bottom line... How does this sort of crap keep happening? 

Answer:  Our elected representatives allow it to happen.  They voted for the laws that allowed this atmosphere of overwhelming greed to override any, and all, ethics and integrity that might have been present, at one time.

This whole mess should show the American people that those in the House and Senate do not work for us.  75% of the American public was against the bailout bill, yet they approved it, didn't they?  And, what will happen to those who voted for it?  Nothing.

Why will nothing happen to them?  Because, when it comes to re-election time they inevitably pull out the button issues (gay marriage, abortion, war on 'terror').  Their constituents will vote on those issues and give them a pass on just about anything else.  Why else would Congress after Congress have such deplorable approval ratings, yet a majority of its members still keep their posts?

A perfect example of this is Ted Stevens (R) of Alaska.  Recently convicted on seven felony counts, and he came very close to retaining his office.  Many people writing into the local paper actually stated that it didn't matter how many felonies he might have committed because of all the good he had done for the state.

Any wonder why I'm so cynical about the political state of our country?

We, my wife and I, have gone to a "cash only" budget. We paid off our credit cards and now go to the ATM and get the money we need, need not want, and buy the essentials.

Anyone who is not doing this will just fall deeper and deeper into the financial mess the mortgage brokers have generated.

Like someone said in an earlier post, "cash and carry."

From what I have read - the infamous "bailout bill" was very poorly (if at all) checked out before being voted on..   It was also very poorly written and considering how it was rammed through congress the appropriate checks and balances were deliberatly left out so that later on politicians could point fingers and blame each other when it failed to produce positive results..   Also the vast majority of people contacting thier elected officials were against it - yet it was passed..  And the post above about the voters reelecting thse congresscritters because they trot out the "hot button" issues is dead on..    As some one wrote a few weeks back..  "The sounds of the voters were drowned out by the cha-ching cha-ching of the cash registers giving money to politicians"...  (or words to that effect)..