December 19th, 2008
04:30 PM ET
6 years ago

How to spend $350 billion in 77 days

NEW YORK (CNNMoney.com) - President Bush has grudgingly allowed General Motors and Chrysler to drive away with the last few billion bucks in Treasury's TARP till, which boasted $350 billion a mere 77 days ago.

How did it all slip away so fast?

Full story on CNNMoney.com


Filed under: Economy
soundoff (54 Responses)
  1. Matt

    How to spend $350B in 77 days: Elect a bunch of morons from both parties.

    December 19, 2008 04:49 pm at 4:49 pm |
  2. The Edge, Macon, GA

    Just another tax cut and spend Repugnant. Just like a kid alone in a wood shop, turning on dangerous machines and watching them smoke, just because he can.....soon it will be time for the adults to show up and straighten out the mess....unfortunately there is a huge mess to clean up this time, it'll take a good while to fix these selfish and juvenile acts.
    I doubt Bush or any of his cabal actually know or care where all the money went, just as long as "their kinda people" wound up with it in there parachutes.

    December 19, 2008 04:50 pm at 4:50 pm |
  3. richard

    Its the biggest scam since globle warming. Stay out of my wallet.

    December 19, 2008 04:54 pm at 4:54 pm |
  4. America loses.

    What is sad, is that the drunkard sailors better known as Democrats will think they have been given cart blanche to mortgage my neice's future.

    Goodbye jobs as this government intervention has never worked and hello huge tax increases down the road, justified by the insanity of spending from the government.

    Hey Barack, while you are creating the 2.5 million jobs artifically can you also keep track of the 4 to five million jobs that will be lost by your increased regulation, higher tax and higher regulation policies, and did I metion cap and trade? God help America.

    December 19, 2008 04:56 pm at 4:56 pm |
  5. Vicki5

    How to spend $350 billion in 77 days, give it to Paulson & Bush. They may think they've swindled the american people out of this money, but I have a confidence that, in time, they will be held accountable for what they have done. If the press will release information on who is receiving big bonuses, etc., I will gladly help hound them so they cannot continue to enjoy it at least.

    December 19, 2008 04:58 pm at 4:58 pm |
  6. Androloma

    Corporate welfare reform is needed. The luxurious lifestyles of the rich and infamous must be reigned in, unless rampant rapacity consumes the very foundations of society. Where will it end? Does the taxpayer ever get to see a dividend from their investment into a failed corporation? Capitalism seems to be dying from internal corruption; to be replaced by a technocratic socialism. it didn't have to be inevitable.

    December 19, 2008 04:58 pm at 4:58 pm |
  7. America loses.

    If I was a smart businessman, I would invest in a country that wants me to succeed. Democrats think they can succeed by just spending government money and it will create wealth to all. What a fantasy.

    Smart money finds its way to the location that is friendliest to it growing. With left wing tax, regulate and spend policies like raising the capital gains tax to 28%, watch the smart money and jobs go elsewhere.

    Put on your seatbelts we are about to go down big time in this economy an I mean an OBAMANATION depression down. Perfect storn of anti-American way of doing business, as capitalism, will soon be given a liberal kick in its gut and we no longer will be the world economic leaders. Bye bye good times, hello OBMANATION times.

    December 19, 2008 05:02 pm at 5:02 pm |
  8. steve

    "their kinda people" (???????)

    Hey "Edge"–just wait untill Nancy Pelosi & Co open your checkbook further~~~the worst is yet to come.....

    December 19, 2008 05:03 pm at 5:03 pm |
  9. J.P.

    Yeah, liberals, THIS is why we Fiscal Conservatives have been saying for years that you people should LOVE GWB: spend, spend, spend, bailouts-for-unions, bailouts-for-unions, bailouts-for-unions.

    I say, "Let them fail." They painted themselves into their corner, now let them deal with it, even if that means failure. If I mismanaged my business like the UAW and the Detroit Big Three mismanaged theirs, do you think I'd get a bailout? Hell no. I'd be allowed to fail, and rightfully so. But now, we're rewarding failure. In fact, it's even worse than that... the UAW has sucked the Big Three dry like a tick on a dog, and now, we're bailing out the tick.

    December 19, 2008 05:06 pm at 5:06 pm |
  10. naqib

    Matt
    "How to spend $350B in 77 days: Elect a bunch of morons from both parties."

    Couldn't have said it better myself...

    December 19, 2008 05:06 pm at 5:06 pm |
  11. Mark, B'ham., Al.

    Politicians can throw that money away faster that a drunk sailor.

    December 19, 2008 05:08 pm at 5:08 pm |
  12. Tina

    SEND MONIES TO US, SO WE CAN PAY OUR BILLS AND BILL VERY NICE STUFF TOO!!!!

    December 19, 2008 05:10 pm at 5:10 pm |
  13. HAROLD KEATING

    I CAN NOT BELEIVE WITH ALL THE BAIL OUT MONEY WE ARE
    SPENDING, WE TREAT OR VETERANS SO POORLY AFTER
    FIGHTING FOR US.

    December 19, 2008 05:11 pm at 5:11 pm |
  14. Precious Coker, NY

    Leaky and sticky fingers!!!

    December 19, 2008 05:13 pm at 5:13 pm |
  15. John Starnes Tampa Florida

    Compared to the cost of his war in Iraq based on ambition and deception, this is chicken feed. But since he calls his constituency "the haves and the have mores" I doubt his conscience feels even a flicker of remorse. He needs to face criminal charges after leaving office since Congress was too cowardly to impeach if the rule of law is to mean anything in America and to the world watching us.

    December 19, 2008 05:17 pm at 5:17 pm |
  16. Toby in Illinois

    Most of it is going to his friends right as he is preparing to go out the door. Teapot Dome is absolutely minuscule and quaint compared to this raid on the treasure of the American people.

    December 19, 2008 05:18 pm at 5:18 pm |
  17. Larry from RI

    No oversight of Wall St. or banks who give millions in compensation and golden parachutes for failure but the GOP party faithful want UAW working folks like us to take a pay cut – go figure!
    Exactly who's side are these so-called patriotic Americans on?

    December 19, 2008 05:20 pm at 5:20 pm |
  18. Fungula Fumu Ngondji

    Is there anyone who can explain in simple terms from which government's account the 700 billion dollars bailout was withdrawn from, how it's distributed and how the money will be paid back by those who had benefited from the baillout, such as AIG, the Auto industry, etc.

    If the 700 billion were borrowed. From which country or countries, how much interest the US will have to pay and how long it will take to pay it back?

    December 19, 2008 05:22 pm at 5:22 pm |
  19. Gordon Shumway

    Now if only obama will tell Bush where to spend the second $350B, like he did the first $350, then I'm sure as anything that we'll just come right out of our little ole depression, recession, and start progressing!

    December 19, 2008 05:23 pm at 5:23 pm |
  20. BO is just B.O.

    Matt,
    We did elect a bunch of morons from both parties,
    that's why we have a democratic majority.

    December 19, 2008 05:27 pm at 5:27 pm |
  21. rhoward

    Considering how fast Paulson blew through approximately $336B and no one seems to know (or care) where the money went, Congress shouldn't give Paulson another penny until an accounting is made of the money dished out and a whole lot more conditions needs to be put on the remainder before ANY of it is given to anyone. So far, the whole bank bailout thing is a big boondoogle that has only profited the banks, CEO's and shareholders – it sure hasn't helped the economy any.

    December 19, 2008 05:30 pm at 5:30 pm |
  22. No incumbents 2010

    Can you say it with me: No incumbents 2010, absolutely none!

    We can do this America, we can take back our country with a quiet and peaceful revolution.

    December 19, 2008 05:31 pm at 5:31 pm |
  23. David in KC

    Interesting how socialism is used to resusitate capitalism when it falls flat on it's face.

    December 19, 2008 05:33 pm at 5:33 pm |
  24. John E Lexington KY

    They've given 335 Billion to their cronies under false pretenses – including a loophole for corporate 'golden parachutes' that has hardly been discussed – so what is a grudging $13 Billion for the plebians. Bush is like a vat of acid, corroding anything that he touches. He thinks big – most despots do.

    December 19, 2008 05:33 pm at 5:33 pm |
  25. Armando

    I agree with Matt. If anyone thinks, Obama isn't going to spend more is dilusional. He's not going to bring the troop home.

    December 19, 2008 05:35 pm at 5:35 pm |
1 2 3