Comments on: As Criticisms Over Leadership Mount, Obama Administration Makes Plans to Battle Back

By: Edmond Hillary

Edmond Hillary — Sat, 28 Mar 2009 21:24:19 +0000

Superdog says Obama isn't up to the job. Let's remember it took George and Son 16 years to create the the mess. Do you suppose we can give Barrack a little more time to fix it.
Ed.

By: William Carroll

William Carroll — Fri, 27 Mar 2009 03:26:12 +0000

I have watched over the years how our U. S. government has little by little stripped the states and individuals of their God given rights and responsiblities. The creation of the federal reserve, social security and federal tax systems have turned into a nightmare. What happened to the local banking systems that were chartered within each of the respective states!? Wall Street has turned into….nothing but a bunch of greedy, self serving individuals. We can now see that America is in deep trouble… and who is responsible for this !!?? We The People…( preamble of the U. S. Constitution)

By: William Patalon III

William Patalon III — Tue, 24 Mar 2009 18:43:28 +0000

Dear Jim T:
You made some excellent points in your well-thought-out missive, and I wanted to take a moment to point out that several of the key topics you said needed to be looked at are, in fact, problem areas that we've looked at very closely — especially when it comes to the questionable use of TARP money.
Among the stories we've written:

· Money Morning Investigative Report on the Bank Bailouts (Part VI): Congressional Watchdog Criticizes Treasury for Failing to Track $350 Billion in Bank Bailout Money.

http://www.moneymorning.com/2009/01/12/700-billion-bank-bailout-funds/

· Money Morning Investigative Report on the Bank Bailouts (Part V): U.S. Banks Refuse to Detail How They’re Spending Federal Bailout Money.

http://www.moneymorning.com/2009/01/06/us-banks-federal-bailout/

(as well as) Money Morning Investigative Report on the Bank Bailouts (Part III): Billions in U.S. Bank Rescue Funds are Fueling Buyouts Worldwide – Instead of Lending at Home.

http://www.moneymorning.com/2008/12/05/banking-buyouts/

Again, thanks for taking the time to comment. And thanks for reading Money Morning.

Sincerely;
William Patalon III
Executive Editor
Money Morning

By: Will Obama Administration’s Banking Sector Fix-It Plan Finally Break the Toxic-Asset Logjam?

Tue, 24 Mar 2009 10:00:17 +0000

[...] newfound investor confidence follows a week in which the Obama administration endured harsh rebukes for overspending, and for fai… awarded to employees by embattled insurer American International Group Inc. (AIG) – which has [...]

By: Jim T

Jim T — Tue, 24 Mar 2009 07:45:42 +0000

IT DEEPLY TROUBLES ME THAT NOBODY IN THE MSM OR THE OBAMA ADMINISTRATION IS QUESTIONING WHERE $228 BILLION DOLLARS OF THE INITIAL TARP MONEY WENT. WE THE PEOPLE, THE US TAX PAYER, GOT ABSOLUTELY "ZERO VALUE" RETURNED IN ASSETS OR LOANS FOR THAT MONEY! EVERYONE GOES CRAZY OVER $165 MILLION IN BONUSES GOING TO EMPOYEES OF AIG, BUT NOBODY IS OUTRAGED THAT THE BANKS RECEIVED $228 BILLION DOLLARS FOR ABSOLUTELY NOTHING! WE WILL NEVER SEE THAT MONEY AGAIN, BUT WE WILL HAVE TO REPAY IT BECAUSE LIKE EVERYTHING ELSE IT WAS BORROWED MONEY. BORROWED BY OUR GOVERNMENT, GIVEN TO THE FRICKEN BANKS, ON OUR DIME! (FOR NOTHING IN RETURN) WHEN YOU GET YOUR HEADS STRAIGHT AND DECIDE TO GET PISSED ABOUT REALLY GETTING SCREWED, GET PISSED ABOUT THIS $228 BILLION DOLLARS! 1.) SEPTEMBER 15, 2008 LEHMAN BROTHERS FILED BANKRUPTCY. THAT MOST EVERYBODY KNOWS, BUT WHAT YOU DON'T KNOW LATER THAT DAY JP MORGAN SLIPPED LEHMAN BROTHERS (VERY QUIETLY) $139 BILLION DOLLARS! HAD LEHMAN NOT FILED BK THAT MORNING WE PROBABLY WOULD NEVER HAVE KNOWN, BUT BECAUSE THEY DID THE TRANSACTION HAD TO BE REPORTED TO THE BK COURT. ANYWAY THAT $139 BILLION DOLLARS WAS USED BY LEHMAN TO SETTLE SOME OUTSTANDING DERIVATIVES & CDO CONTRACTS IT HAD. (LIKE AIGs PASSED THROUGH BILLIONS THIS MONEY LEHMAN GOT, GOT PASSED THROUGH TOO) WOULDN'T IT BE GREAT TO FIND OUT WHO THE "COUNTER PARTIES' WHERE FOR THAT $139 BILLION DOLLARS? OH, YOU THINK IT'S NONE OF OUR BUSINESS BECAUSE THAT'S BETWEEN JP MORGAN AND LEHMAN? I DON'T THNK SO BECAUSE A FEW DAYS LATER THE NY FED (TIMMY) "AGAIN VERY QUIETLY" REPAID JP MORGAN THE $139 BILLION ON BEHALF OF LEHMAN BROTHERS. (US TAX PAYER REPAID JP MORGAN ON BEHALF OF LEHMAN, BUT WE HAVE NO LOAN AGREEMENT WITH BK LEHMAN) TRANSACTION = $139 BILLION DOLLAR LOSS FOR TAX PAYERS! 2.) HANK PAULSON WENT SHOPPING WITH OUR TARP MONEY AND HE CAME BACK WITH AN $89 BILLION DOLLAR SHORT FALL AS VERIFIED BY THE TARP OVERSIGHT COMMITEE! THAT'S RIGHT HE WENT OUT AND SPENT $324 BILLION DOLLARS AND CAME BACK WITH $235 BILLION WORTH OF STOCK AND OTHER EQUITIES. "CAUGHT RED HANDED" YOU WOULD THINK! EVEN THE MSM REPORTED THE SHORTFALL, AND I'M SURE EVERYONE EXPECTED HENRY "CAUGHT RED HANDED AND ALL" WOULD GO BACK AND RECTIFY THE SHORTFALL. (NO WAY JOSE, THE JACKASS DIDN'T EVEN BOTHER TO EXPLAIN) IT WAS LIKE (WHO IN THE F-CK ARE YOU RO QUESTION HENRY) AND EVERYBODY SHUT UP AND LET HIM GET AWAY WITH IT. SILLY ME, I WAS SCREAMING FOR SOMEONE TO GO BACK TO THE OVER PAID BANKS AND GET SOME MORE STOCK OR AT LEAST PROMISARY NOTES FOR THE MONEY, BUT NO! HENRY FOR SOME REASON WAS ALLOWED TO GIVE AWAY $89 BOLLION DOLLARS OF OUR MONEY AND NOT EVEN TELL US WHO HE GAVE IT TOO. WHERE IS THE OUTRAGE I WONDER? BUT LETS GET A ROPE AND HANG EVERYONE AT AIG FOR $165 million, BECAUSE THAT MAKES SO MUCH MORE SENSE THEN GETTING PISSED OF ABOUT GETTING F-CKED OUT OF $228 BILLION!

By: Henry Miller

Henry Miller — Tue, 24 Mar 2009 05:33:03 +0000

sorry folks but the market loved the toxic debt relief plan. It's the result of Brilliant diagnosis of what went wrong in Japan We may come out of the taxcut caused mess much earlier than expected. Never forget the mess was created by the previous Admin. President Obama is cleaning up the mess – and then some. Germany has had a National Healtthcare and Retirement Act since 1883. It works very well indeed.

By: super dog

super dog — Mon, 23 Mar 2009 19:34:26 +0000

Obama is a dangerous man. He is not up the the job of President and neither are his henchmen in the Congress and the Senate. God help our country. He has spent double the amount of money that the Bush administration did in 8 years and Obama has not even been there a full 3 months. Get ready. We are bankrupt as a nation. His social agendas have trumped sound economic policies. I fear for this country.

By: C J Hughes

C J Hughes — Mon, 23 Mar 2009 19:11:45 +0000

Dear Mr. Patlon:
You write in an organized and interesting style. It is hard to comprehand all the facts, information and stats you put forth.
Keep up the Great Work!

By: The Buck Stops Here

The Buck Stops Here — Mon, 23 Mar 2009 18:18:00 +0000

Don't forget the $100K plus campaign contributions that Obama and Dodd received from AIG before the bailout. Are they going to return the money? Obviously, AIG could not afford it.

By: Kim Beyeler

Kim Beyeler — Mon, 23 Mar 2009 17:12:05 +0000

No one ever mentions the real problem of the Dept Money System behind the "Dept Crisis" behind the "Credit Crisis". The only way for money to get into circulation is for it to be borrowed into circulation at interest. The interest is never created so if one deptor is able to repay his loan and interest someone else must lose some principle. One must lose for another to pay interest. Failure is designed into the system. Does anyone ever question how money is created. You might think the government prints it, which it does but it is not spent into circulation but loaned into circulation. Even the money the government spends above what it collects in taxes is bowwered with interest due. When money is created out of nothing and loaned with interest, this is usury!!!

By: George Barker

George Barker — Mon, 23 Mar 2009 16:41:43 +0000

For goodness sake please change this really awful green color you have for comments. It is very hard for people to read! Don't you like us?

By: Truthpeeler

Truthpeeler — Mon, 23 Mar 2009 15:16:22 +0000

Did you watch Dateline NBC last night? It detailed the culprits and the victims of this financial collapse. If you really want to blame somebody, look at your mentors in the financial industry who helped create the "toxic assets" to begin with. The President is doing what he can, and contrary to your stated beliefs, he's way ahead in the polls. Where were you when Mr. Madoff, Bear Stearns, et al., were ripping off the system? Why didn't you speak up then?

By: Sam

Sam — Mon, 23 Mar 2009 15:09:18 +0000

Why isn't anyone talking about the purchase of the Fed, of $1 trillion in Treasuries? Doesn't anyone care about monetizing the debt? Doesn't anyone care that this caused the dollar to slide in value against six major currencies? Doesn't anyone care that this could cause a hyperinflation?

By: Andre

Andre — Mon, 23 Mar 2009 12:19:18 +0000

Why isn't anyone discussing the nature of the Federal Reserve, a private institution, as a recipient of billions of dollars in interest (paid for with taxpayer money) for purchasing more Treasuries, to then further the money supply through fractional reserve lending and the banking system? In fact, why is the Fed issuing money at all? Couldn't the US Govt directly create its own money WITHOUT the extra step of the Fed creating it? Sure would save a lot of interest – back into the Treasury instead of the Fed. If Treasury can create bonds, why can't Treasury create money (directly from the Govt?) without the use of the Fed – a private corp? Something is truly fishy here.

By: mybuck

mybuck — Mon, 23 Mar 2009 10:45:47 +0000

thing are getting better he has only been on the job for three months the president is doing fine get off his back. Marvelous Marvin a new stock buyer and investor