WASHINGTON (CNN) - The government's financial bailout for troubled banks has not worked so far, a majority of respondents to a national poll say, and six in 10 don't want Washington to spend more money on the rescue.
Sixty-one percent of those questioned in a CNN/Opinion Research Corporation survey released Friday oppose providing more government money in the financial bailout. There are some supporters, however - 38 percent said the government should provide more assistance to ailing banks and other financial institutions.
Most of the 1,245 adult Americans who were questioned for the poll were surveyed before Thursday's Senate vote to release the remaining $350 billion in the financial bailout program.
"One reason for the opposition to more money being spent may be that more than eight in 10 said that the first $350 billion of taxpayer money for the bailout didn't work," said CNN Polling Director Keating Holland. "Only 14 percent say that the money accomplished what it was supposed to do."
Regardless of the apparent public opposition to the bailout, the Senate voted 52 to 42 to release the remaining funds.
"Barack Obama may have something to do with the vote," said Holland. "Democratic leaders in the Senate may not have been eager for a showdown with the president-elect. The public would have been squarely on Obama's side. Sixty-two percent in the poll say they trust Obama more than Democratic Congressional leaders."
That compares to only 25 percent of those questioned in the poll indicating they would be more likely to trust Democratic Congressional leaders over Obama when they disagree on an issue.
The poll also suggests that 50 percent of those questioned believe Republicans are more responsible for the economic problems facing the country right now. Less than a quarter of the respondents said Democrats are more to blame, and one in five said both parties are equally at fault.
"Democrats may also have recognized that the public still blames the GOP for the bad economy. That suggests that the public may give the Democrats some leeway, at least for now," Holland added.
The 61 percent who oppose proving more taxpayer money for the financial bailout is up from 56 percent who opposed the initial bailout in mid-October.
The CNN/Opinion Research Corporation survey was conducted Monday through Thursday by telephone. The survey's sampling error is plus or minus 3 percentage points for some questions and plus or minus 4.5 percentage points for others.
From CNN Politics
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Even Senators and Congressmen dont know where the first $350 Billion went. How can any sane person justifiy releasing more money and just saying we'll try hard to keep track of it this time. Show me where the money went before you release another dime.
God bless the people of America, but they have no idea what they're talking about. Newsflash: there won't be any waving magic wand that can get us out of this mess. Everybody says just give the money to the people. Yeah right, like anyone would use that money for what they should be, which is paying bills. Instead of settling debt they'd probably accrue more, and widen this financial gap that we call a recession.
Here come all the whiners and criers -----
Once we have a president who actually explains the situation to us, we are going to feel a lot better.
ADD ONE MORE PERSON TO THE NOT SO FAST, PRES. OBAMA. THIS IS BORROWED MONEY, YOU MEAN TO TELL WE THE PEOPLE THAT WITH ALL THE XPERTS IN THIS DEAL NO ONE HAS A BETTER IDEA? IF 9 OUT OF 10 PEOPLE ARE PAYING THEIR OBLIGATIONS SOME SLOWER BUT PAYING WE HAVE PUT THIS COUNTRY IN THE CRAPPER? ITS THE XPERTS THAT GOT US HERE AREN'T THEY? PERHAPS BARACK, WANTS TO BE THE HERO OF THE POOR AND DEADBEATS BEFORE THE MAJORITY OF TAXPAYERS. PERHAPS THE DEMOCRATS ARE TRYING TO BUY THE FUTURE VOTES WITH THE TREASURY? LETS TAKE IT SLOW WITH THE MULLA MY PRESIDENT TAKE IT SLOW AND EASY: OK?
AGREED!!!!
Don't spend more.......at least not until we can figure out where the previous money was spent .
Don't spend more.....until we have a detailed account of what you will be doing with the new money.
We want specifics....NOT EXCUSES!
its sooo not working
Please give it all away. No oversight, no accountability....just free money......yay! Oh wait, that's only if you are a crooked Wall Street corporation....darn.
that's because Americans are all about short-term benefit. Wait what, something wasn't solved in a week? BOOO! Understand that we have a series of problems with no quick solution people. Letting the banks fail was and is not an option! Grow up.
reverse bank-robbery. this is the biggest rip-off in the history of the world.
Well, he's cute.
things don't work over night people
Obama, Reid, Pelosi are you listening? If you don't, brush up you CV before the next election.
"The public would have been squarely on Obama's side. Sixty-two percent in the poll say they trust Obama more than Democratic Congressional leaders."
I told you to watch out, this guy can have crazy parties just like Andrew Jackson has, LOL!! We hate to say it but Dems can do that, we got the memo A LONG TIME AGO...those Dems sure are crazy, huh?
So 61% are against the bailouts.. Hmm.. If 3/5 of the country opposes this action, and PE Obama is asking for more money for this program, how can he call himself "everybody's president"?
I agree that the bailouts were, are, and will continue to be a bad idea. You can't scoop the water out of a sinking ship with a ladel. If your dog has cancer, what's the point of giving him several costly surgerys if he's going to die anyway. Shall I continue with the analogies?
1 quick ?; how will the American people every know if this $$ "worked" or not? I mean we don't even know where the $$ went. Yet another GW Bush "screw-up".
Unelected bureaucrats have been given carte blanche with American taxpayer money. The cash is flowing into the hands of the rich. It is legislated theft.
What good can come of this? None whatsoever.
It's about time the Congress and Senate recognize that nearly 68 million voters were willing to give Obama the opportunity to try his hand at making change happen. Go for it Mr. Pres.
give all taxpayers $5000.00 and to hell with the bank bailouts. you elected officials will not listen to anybody, which means kick all of the bums out of office
Apparently our government is under the false impression that if you have a problem, throw money at it and it goes away! It has never worked before, it won't work this time. Another $350B wasted.
The sad fact of this issue is that the TARP has been fairly effective. The whole securitization market has folded up, and banks have lost the single biggest source of liquidity they had a year ago. If the TARP hadn't been done, things would have gotten much, much worse than they are by now.
I wish I would get a phone call for one of your polls. I trust Obama to see that the rest of the tarp money goes where it should and that anyone who gets money needs to show where it was spent. Look the government needs to do something to help the economy, family's like mine need the boost and better jobs.
Before all the liberals/Democrats start Bush-bashing about the bailouts, please do your research on this. Your Messiah, upon his victory (& the Democratic congress) has been pushing Pres. Bush to release and approve EVEN MORE BILLIONS! So, if you don't like the bailouts, write to your representatives...and by all means, email our new Messiah after Jan. 20. Let's just keep giving more and more and more $$$ away...right Democrats? This is what you voted for, don't forget!
Just more proof that the people's voice is not heard!
Government thinks they know what is best irregardless of what the people want. Worst part about it is that we the people have to pay for it!!
Change we CAN"T believe in!
Keep in mind that the first $350 billion was spent in the Bush administration and we all know how badly decisive that overall administration has been. The apparent intent by Paulson to save the ranks of Goldman Sachs and Chase by eliminating each others competitors is obvious. In addition, the money obliged these entities to go out and to garner additional mergers in swallowing up smaller healthy banks. That said, Obama deserves the right to try his hand at actually doing better by applying the remaining and available funds to where these had been targeted and that is buying up toxic waste. Offsetting this toxic waste had been the original effort as laid out by Paulson before he changed his mind. It is a pittance of total funds and it has been obtained. Why not try the right thing and spend it prudently?
The question to be asked is where were the regulations of how this money was to be used. If the regulations were there and were taken out what person(s) took them out. The media should be climbing all over this and putting a scarlet letter on any politician that put special interest needs ahead of the US citizen needs.
So, suddenly 61% of 1245 of the polled American public is a qualified economist?
The whole reason for having government representatives is so they can provide the expertise we the public does not possess. While Congress certainly does not fulfill that aspect, the panel of economist that Obama has gathered certainly does.
We trusted the crook bush with the 350 b at least we can give the new administration the same trust we gave the current one.
"Sixty-one percent of those questioned in a CNN/Opinion Research Corporation survey released Friday oppose providing more government money in the financial bailout."
Does anyone find it odd that they are calling it government money? Does the tax payer not own their own money anymore?
like we have any money!
Bernachi and Paulson have stuffed the carpet bags with cash and could be headed to Dubai or Chile.
I agree don't spend more is right with us taxpayers flipping the bill.
Bailouts, BAILOUTS, when will it end? Another trillion what's that when you already are nearly 60 trillion in the red?
Our Federal, State, and local (Big Brother) Governments are in for a rude awakening when the money is not there. And this is the same mistakes our Government did in the first depression. (Yes folks, I’m not going to wait a year for it to be official, we are in a depression, just look at those unemployment numbers)
This entire bailout approach does nothing for the main stream American, but it will sure enough ensure some nice bonuses for the Corporate Executives and Wall Street executives.
Any money now needs to go the taxpayers, remember us? How? Try reducing spending, try balancing a budget. try living within our means and within our seams.
The People don't want more bailout money wasted.
Obama likes the idea though for his corporate friends.
Will Obama favor public opinion or corporate greed? We shall see soon!
He got your votes, now keep your opinions to yourself.
QUESTION AUTHORITY
I'm certainly no expert on the workings of the finance industry that TARP was targeting but I am fundamentally opposed to this kind of government intervention in private business whether it's the banks or the auto industry. In any event, I do own a small manufacturing business and can speak to that part of it. Business is very good for us and most of our American manufacturing customers right now and we have no problem getting credit for business expansion. I know parts of the economy are hurting, but don't be fooled into believing it's all down the drain. I expect 2009 will be excellent.
If 60% of the people don't want the rest of TARP spent, does that mean that 60% of the people think Obama is wrong in forcing Congress to hand it over to him?
It is Democratic policy, spending and taxing, what do we expeect?
Barack knows what to do with the money. I trust his judgement, otherwise I would not have voted for him.
My common sense tells me that the plan is not working because republicans have been underhandling it to get their cronies the easy help they seek, and not to serve the purposes of all Americans. Unfortunately, once again Americans have bought into their schemes, even after eight years of lies and deceptions, with their eyes wide open and have swallowed their actions hook, line, and sinker. Please wake up America!
NICK: Sorry, but voting for Obama doesn't mean agreeing with every single thing he does or plans to do. It just means you think he's better than McCain, and McCain also wants to throw money at the problem too. Therefore, a person voting for Obama is making no statement regarding whether or not he/she is in support for the bailouts.
Don't worry – Obama's to the rescue! But wait – The Dow is down again after Obama and Pelosi announced their $850B stimulus plan. Looks like their plan sucks as well.
as it is,
400 families own half the country.
1% of the population own 90% of the wealth.
we the people have become minimum wage slaves, and
will be for the next millenium.
Let's see the housing market is bottoming out, , business are able to meet payroll, your person banking account is still intact. The worse case scenarios haven't played out. Is that due to TARP? It for sure helped... it wasn't very well done and it the $350 could have been more targeted. But anybody who thinks it didn't do anything fails get the complexity of the problem, and the time it takes to turn around.
Bailout.
It won't work, no amount of money you dump into Banks, Wall Street or even the Big Three Auto makers is going to save our failing economy.
The reason we are in this economic mess is not credit, it's the lack of Americian people working. If you don't have a job, no money, you are not going to spend money. PERIOD!!
Why are we not working, DUH!!! that one is simple too. They sent all our jobs out of this country.
Bring the jobs back into this America and you will see the economy recover. Nothing else is going to work.
NO JOBS, NO MONEY = POOR ECONOMY
To me this just points out what an "instant gratification" society we are.
Nothing dramatic changed within three weeks, so lets stop doing it.
We're in a very difficult recession. Time, sacrifice and good ideas are what we need. I wish more of my grandparents generation were around to tell us to step up and stop being such babies.
The money would have been better utilized if loaned to the American based companies that need it, rather than the banks who started this crisis by their idiotic lending practices. We give it to the banks and they still have credit shut of to these companies. We seem to reward the folks who cause problems in this country and then turn our backs on our own American companies as well as our people who now have mortgage issues that can also be traced back to these silly lending practices. I wouldn't have been surprised to see the Bush administration to also reward the congressmen who voted for de-regulation of these banks and the so called "free trade" agreements that made the U.S. the largest dumping ground in the world for foreign goods. Two examples of the "brilliant" pieces of legislation that led us into this current economic crisis.
Carol, it's not so cut and dry. One part is a chicken and egg problem. Do people not have jobs because no one is buying anything or are people not buying anything because they don't have jobs? Or could we all just be scared into not spending, costing jobs. I imagine all of these things are probably true.
CNN – just why do you keep taking out my comments and leave other in? I do not get it. I am basically saying the same thing others are saying that you leave in? I know there are laws for free speech in this Country -just why are you sensoring what I put in. There is nothing inappropriate in any of my comments. You people are the ones that should be monitored.
Wake up folks,there is only one party.We should call it the Pendulum Party.The people controlling the party,control all the money.The race to the bottom will continue.Its like the song said"meet the new boss,same as the old boss".
how many of the people polled have a degree in economics, let alone are living within their means and do not have a ton of credit card debt. These are the people that made poor decisions to help get us in this mess, why should we think they know the right way to get us out?
Take all of the wall street and bank execs who made over 200 thousand and SHOOT THEM ALL!
Change?!? Welcome to the real world! All of you who thought Obama would bring change didn't learn from history. Politics is Politics, doesn't matter who is in charge. You will learn quickly. Politicians are out of touch with the real people like you and I. There is no quick fix and the billions will not help. Hold on, it will be a wild ride.
Don't worry about it. Once hyperinflation sets in, the $10+ trillion these clowns have pumped into the economy won't be worth anything anyway.
Buy durable goods and spend your money while it has value, because these Washington folks must have skipped Economics 101.
I see why it didn't work the first time. Just saw Bank of America is getting ANOTHER $20 billion of MY tax dollars and YOURS - two days after they lowered my credit line with them to exactly what I owe. N-I-C-E work, BoA.
Here's what Barack needs to do, now that the banks are AGAIN asking for more money, presumably now that they see he had the second 350 b released: he needs to tell them, "Sure thing. No problem. We'd love to bail you out again. First, however, you need to open up your books and show us completely and fully in detail exactly where the FIRST hand-outs we gave you went. If you took the first money and hoarded it or bought up lesser-performing banks around you or anything OTHER than exactly what the taxpayers expressly said the wanted to see it used for...then, sorry. No more money for you. You blew it and don't deserve another dime. If it looks like you did all you could to help spur the economy by opening up lending the way it was supposed to be, but it just wasn't enough - you get some more."
Then stand by it.
We've all been robbed by Wall Street and the financial institutions of this nation and they all apparently feel we're so stupid we'll just sit back and let them do it again. I am completely amazed.
The thinking behind this bailout is all backwards to me. If the foundation on your home is broken, you don't start repairing it by fixing the roof first! Giving the banks billions of dollars and I do mean giving, because they will not pay it back, is very bad business. People at the bottom of this crisis have been suffering for a lot longer than before this came to the forefront of national attention. In the end we are all guilty, because of our credit driven greed that has been so happily endorsed by our friendly bankers.
CNN–find out if Obama's plans with the stimulous monies will benefit any companies that have moved their operations overseas. (not "Made in America").
CNN won't do this...they are more into talking about "miracles."
That would discount the efforts of Capt. Sullenberger and his crew....a miracle means something that can't be explained.
Sorry Capt. Sullenberger.
(
Obama is going to take that money and funnel it back to his friends in Chicago. So, if you're from Chicago you might see some small benefit, as his wealthy friends spend some of the money.
Throw some my way. I'll submit a detailed expense report with supporting documentation in return. Kidding aside, I don't have problems with the gov't interceding, but I do have a huge problem with lack of oversight and no accountability.
The great disconnect between our elected officials shrugging off and not listening to the sentiment of the voters and the people who pay the bills on Capitol Hill is extremely unsettling and disconcerting, especially during times of severe economic collapse like like we are currently experiencing. The federal government has borrowed and spent our money, and wrecked our children's future in the process, without our permission according to these polls.
When will people wake up and end the 50/50 divide between republicans and democrats, which both parties love. Its time for americans to wake up and start voting libertarian to weed out all of the scumbag politicians and political interests who have systematically infiltrated our great capitol and run the country right into its grave. Once again, Wake up America and stop voting for these scumbags who operate against your directives!
These bailout ideas are ridiculous. When was the last time you couldn't pay your bills on time and some bank was more than happy to help you with a bailout?
Why on earth should we help them? Because things will be worse than the Great Depression – Hardly! The Great Depression was bad because there was barely any modern medicine, health plans for workers, clean working conditions, or FDIC insured bank accounts... – Even at rock bottom, we're in better shape by leaps and bounds.
People not being able to buy HDTVs on a credit card – is hardly a crisis.
My suggestion to the nation: SUCK IT UP AND PAY OFF YOUR DEBT!
As for Congress: TAKE THE MONEY YOU DIRECTED TOWARDS YOUR RAISES AND YOU FOOT THE BILLS.
Also : CREATE REVENUE – Legalize gay marriage, legalize (and regulate) pot if you have to, get rid of wasteful programs for homeless people who have NO intention of working because it's a free ride, and cut a break for college seeking students so we can be a place of innovation again (education is always the best investment – history shows) – Oh and stop spending cash on wars that are pointless. Just sayin'....
Who can believe PEBO? He has no record of walking his talk!
He does have a record of equivocation, obfuscation and political expediency though!
At the least we need accountability from the banks which have received the bailout money.
If they've used that money to prop up their own balance sheets, if they've given one dime of it to one single executive, that should be the end of it.... and they should be required to return every cent that went into the pockets of their executives,directly or indirectly.
Does anyone in Congress know what it's like to live pay check to pay check?
THAT WAS THEN ,THIS IS NOW. OBAMA MAKES THE DIFFERENCE.HE HAS BRAINS AND HE IS INTELLIGENT.
Put some blame on the consumers in the first place. Spending out side their budgets. Buying houses they couldn't afford, talked into by realtors, given by mortgage compainies knowing they wouldn't get stuck with it, a congress that wouldn't stop it even tho Bush warned about it years ago. Look to Frank and Dodd who benefited mightily.
People who ran up their credit cards buying junk they didn't need but "wanted".
People who didn't save and got themselves into their own mess.
Guess its easier to blame someone else then take persnal responsibilty.
Obama has aready spent 50 million on his party night. No ego there.
Always easy to spend other peoples money.
I don't want to hear any more dems complaining about the debt. They are doing a good job of increasing it.
deffo shouldn't provide any more bailout funds to ANY business.
Regular individual Americans only should be bailed out going forward.
Nuff said.
I love how people find a way to blame Bush for everything.
The Dems in congress put this together. They locked the republicans out of it. There were lots of republicans speaking out against this bailout. Don't blame them.
Stop messing with the free market and it will fix itself.
Oh, and stop lending money to people who can't pay it back. The Community Reinvestment Act got us here.... Not Bush. He wouldn't take an ARM. He's smarter then that.
The President is not elected to sit in the Oval Office and make all his decisions based on polling data. The argument isn't "61% don't like it, so Obama shouldn't do it." That argument is 100% without substance. Come up with something better.
Just give each single American taxpayer $5000 and couples $10,000. That would stimulate the economy!
A poll like this is worse than useless. Who cares what non-econonmists think needs to be done? So 61% of people with little or no education nor expereince in economics think XXX.
I would much rather hear what the different economic theoriests think than lay people.
Why don't Americans want to know where the original TARP money went? Where is it? I want to know! I think it went to corporate executives and leading administrators for bonuses. I think bank officials used it to secure their salaries and cover their backsides a bit. That's why nothing has happened to improve the financial situation–there is no accountability! Why isn't the Congress asking more questions?! Banks should be held accountable. That's why Americans don't want more money spent. They don't trust Bernanke et al.
Put the "new" 350 billion in our soc.sec. fund account and that will help more american tax payers then anything else,it is our money,that is an issue that's been going on for decades that can be secured(or at least improved).The politicians won't do that though will they,oh no,lets blow this money.This would be a real easy way of knowing where our money went.
Like one Congresswoman said yesterday "the TARP is a TRAP", and
we fell for it the first time around. We should all email our Congress
(like a march on Washington D.C.), but, really a flood of concerns,
about taxpayers money safeguards, with transparent plan of actions.
Our President Elect Barack Obama, knew how to use the internet, so
let's fall in his footsteps, before Congress forgets about oversights.
Put Kaskari under arrest and have him testify what happened to the $350 Billion.
We have become a society with our hands out. Government starting with the FDR administration has caused it. We have become a nation of whiners believing the government "owes" us a livable wage, affordable housing, medical, etc etc etc. We have become jealous of anyone earning $1 more than us.
SOMEDAY, mark my word, because of current government excesses, the dollar will become about worthless. A large percentage of Americans don't even understand that being possible. It'll be an interesting time to say the least!
Bailouts, handouts, whatever you want to call them don't work. It doesn't matter which party is in office. Remember welfare was supposed to be a short term handout to help people pull themselves out of the gutter during bad economic times. Instead it created generations of people who remain in the gutter and have no desire to pull themselves out. Why study or work hard when the government will take care of you for free? This latest bailout is no different. Practically every business, town, city and individual now have their hands out saying give me money. Why worry about properly managing the financial affairs of your business, town, city or personal life if the government will take care of you for free? Eventually there will be no one left feeding the kitty, what happens then?
To james, right on ! Time for the return of freedom and Liberty to this great country...Welcome to the Libertarian party !
Yes through this world I've wondered
Through this world I've been
Some men rob you at the point of a gun
and other with a fountain pen.
People from October thur December more than 1.5million people lost their jobs – most of these individuals were gainfully employed and had the ability to pay their car, mortgage, student loans, and other debts. When they lost their jobs they became unable to pay the lenders for these loans, mortgages -then the banks has no choice but to look at the debt as bad -
All this TARP and bailout money is for is to give to the rich buddies of politicians so that they can squirrel away some cash for this whopper of a depression we have coming. Nothing has changed. I know from first hand experience that AIG is only paying pennies on dollars of insurance claims. The Banks are closing credit instead of loosening it, its just a smoke screen. It's a "feel good" diversion to the American people while the rich shore up for the rough road ahead. We're screwed and Obama just wants to insure that we get so far in over our heads that China will own us.
People actually expect to have the economy recover within a few weeks? That's just not realistic. It will take time to work.
Most of us have cut personal spending either because we have lost our jobs or are afraid of losing them soon. That cuts demand which causes more job loss. The Government can spend money and get things moving again. It's unfortunate the banks weren't properly regulated to prevent this disaster but we are stuck with it now.
As far as the TARP money spent so far, there is absolutely no excuse for not being able to identify where every single dime of it went. That's yet another utter failure by the Bush administration and the Congress supposedly in charge of oversight. The incoming Obama administration promised to be more transparent. I say spent the remaining TARP funds but have the accountability that was promised when the TARP bill was proposed/signed. If it's spent in the right way it will help us get our economy going again. If the committee in charge of oversight fails to do it's job, vote them out in the next election.
Isnt the second part of this stimulus suppose to go to infrastructure and job creation, not the banks?
I just find it strange that people are all for cutting off the money that is to go back to the people, but were all gun ho about the first part of the bail out going to the banks.
This is a necessary evil right now and I quite frankly am tired of being out of work for 4+ months.
Financial institutions embody everything that is wrong and evil in this world....from the "insufficient funds" fee of $35 (they are charging you more of what they know darned well you don't have enough of), to charging insane interest rates on credit cards to good customers who pay on time, to the CEOs lining up at the trough and pigging out on our tax dollars, they absolutely S.U.C.K.
As for me, I have been hoarding cash, keeping it with me rather than letting the banks use it and charge me for the "priviledge". If everybody did the same thing, they would be brought to their knees in no time.
America, pull your cash, and tell 'em to get lost. Keep only enough to pay your bills. We DO have power in this situation....not through our elected officials, but with our hard-earned dollars.
I also, as I'm driving around, flip off every bank I see.
This is how bad things have gotten...because I'm not the only one.
Bush's incompetence rubbing off on everything he touches – even his appointees are as clueless as he has been the past eight years. The administration of these huge sums of money by this fellow – who has admitted that he doesn't have a clue what the borrowing banks have done with the already issued half of the funds – has left me scratching my head.
In simple parlance; "we the people" have been robbed & will be compelled to pay up for generations.
I am amazed that BofA has given me 45K for a year w/ NO interest... starting last Sept. I had to pay a $99.00 one time fee for this...
Thanks to this I am earning about 1K in interest on the bank CD'S
that I have put these funds in...
I know they are hoping I screw up so they can nail me... but the secret is that I know what they want.. and will avoid same...
Are they using the funds loaned to me to convince the feds that they are loaning...??
To get to this credit limate they took some of my unused cr limate on a MC and put it onto my Visa.... Amazingly it was their offer to do this
and so far so good... ( wonderful)...
Yup its that old(69yrs)-white, retired guy-Former Republican BRUCE
First $350B
GOP: Give a Republican administration $350B to dole out to our rich financial industry friends without any oversight? HELL YEAH!!!
Second $350B
GOP: Give a Democratic administration to dole out to our rich financial industry friends with appropriate oversight, forcing them to help fix the economy and lift up all th epeople suffering right now? HELL NO...THEY VOTED FOR OBAMA AND SHOULD BE PUNISHED!!!
And dont worry, the $ are in the banks' vaults and they're buying each out and paying debts off
It's a great country if you are a high-level lobbyists.
Where is my bailout? Your tax dollars at work.
It's funny, every time I post I get a "waiting moderation" but posts right before and within minutes after mine, are posted. What's the deal. They do not break any rules, quite to the contrary and they are not long either.
"Only 14 percent say that the money accomplished what it was supposed to do."
Those would be the bankers whose jobs were saved.
To couple : No. This discussion is about the second half of the TARP. The TARP is $700B rescue package. Paulson, spent $350, given to AGI and other banks and financial institutions. Obama wants the rest ($350) also to be used to rescue the financial markets but I suspect it may be spent differently than the first or at least with more oversight.
There is another package being designed ( $700B – 1.5 T) to stimulate the economy for jobs, tax cuts, etc.