I wonder how much GMAC Bank got from TARP and the FED?

How does the American public get its pockets picked? Just leave it to a do nothing Congress who has the power of oversight and setting the rules of the game as well as the bankers that obviously have Congress in their back pocket.
How much more outrageous does it have to get before those with jobs as well as those without finally say enough of this bullshit? Barney Frank must really have a pair as well as Chris Dodd. We elect people to do the peoples business and then they turn around and allow the farm to be given away while the foxes are guarding the hen house.
The assholes in Congress are responsible for spending the US taxpayers money. The bailout wasn't supposed to be a free for all in the form of bonuses given to these greedy bastards on Wall Street after they knew fool well that they caused this financial mess to begin with. To their way of thinking, this is a piece of cake, a walk in the park as people are so scared about losing their jobs that they couldn't care less what we do with their money. Besides, Americans have very short attention spans. Well, guess again. Obama can kiss his ass goodby as a one term wonder if he allows this to stand. But you know the drill already.....we have to move on for the betterment of the country ala Gerald Ford. Where have I heard that before? Sure, let's just brush everything under rug of history. Meanwhile people are going hungry, jobless and homeless while the fat cats on Wall Street and D.C. attend to their holiday dinner parties while munching on caviar and champaign as the masses chow down on spam and Mountain Dew.
Someone on another thread said it's time for our second revolution. That time has past and hopefully the pendulum is about to swing the other way....Big time! Someone please get the guillotines ready as it has become more than obvious that our government of, by and for the people is really only for the well to do and well connected. But before we bring out the guillotenes, how about a 10 million man march on Washington come tax day April 15th 2009?

Well, it's a disgustingly wasteful and unfair way to do it, but at least the game of "everybody wants to be a bank" has the beneficial side effect of bringing in a lot of the Wild West "non-traditional" financial sector under the much stiffer regulatory scheme for banks. Of course, a sane government would have simply DONE that years ago and prevented the whole crisis, let alone the pretext for these massive giveaways...

According to Mother Jones, the car companies basically ARE banks: http://www.motherjones.com/washington_dispatch/2008/12/auto-bailout-dead-end-cars-on-credit.html

MFM - let me raise my middle finger at the 110th Congress as well. Fortunately, the 110th only has another 10 days to live, after which the 111th will take over with fewer Republicans to deal with and fewer excuses for being a bunch of spineless weenies.

Of course, the most important part of this "change" bit is the fact that we now have the White House, and all the Bushies will be gone soon. No Bushies means no more bushit for the Congress to cave on. I hope. Sure, the remaining Republicans can hunker down and play goal-line defense, but if they're blocking stuff that is clearly in the public interest, woe be unto them in 2010.

Of course, if the Democrats weren't such spineless weenies in the first place, they'd probably have a larger majority both now and in the next Congress, and we wouldn't have to take any more shit from the likes of Mitch McConnell.

Per TPM this weekend:

"The Fed has set up something called the TALF, the Term Asset-backed Securities Loan Facility, which will offer "low-cost three-year funding to any US company investing in securitized consumer loans" including hedge funds."

A lot of hedge funds are in trouble and investor funds are frozen. No one knows how many Madoffs are out there.

Now Bernanke is giving away hard earned taxpyer money to these unregulated losers so they can buy troubled mortgages on the cheap and sell the properties at a profit when the current owners default. My guess is that a lot of foreigners who still have money are going to be buying.

Is the Fed even bothering to pretend it has a compliance program to monitor this latest ripoff?

Who is going to win this battle of the titans? Can Bernanke steal more money than Paulson between now and Jan. 21? Which one will come up with the most ridiculous and farfetched excuse to give away another trillion dollars to the investor class?

Anyone realize now why the price of oil skyrocketed and then dropped overnight? The crooks on Wall Street knew it was their last opportunity to shake down the the average American before the shit hit the fan.