A serious question about the bailout money. Who's really getting the money?

[redirish28]

I mean we are hearing the bailout and everything and who's getting the money BUT when I saw the deadline earlier that Paulson is demanding the other 350B from congress...


My thought is what is the rush? Then I started wondering... Who exactly got the first 350B. What is there real connect to BushCo? Could this be the final way Bush and company takes America for all they can?


Has anyone seriously done connect the dots from the money handout to Bush Administration? 3 months from now (if we are lucky to find out...) that one of the banks who got the money was in fact a bank that maybe Paulson had stock in or some other connection that way?

Maybe I am grasping at straws here but I do have to wonder.

[Sanctified]

1. I don't know but I think I am going to start a company called...

First Milton Bank and then go ask them for some bailout money because I own a bank which is not making any money.

[Frustratedlady]

2. Everyone else is wondering, too.

They won't tell. National security, or some such bunk.

In my narrow, little mind, that translates into..."If we knew who the billion$ went to, the nation would sweep down enmasse and eat the offenders."

I know I would.

[BR_Parkway]

3. And who did AIG make payouts to - they needed all that money for

something

[ThomWV]

4. I'm a lot more worried about where its coming from than where its going

Out of thin air initially but out of our pockets eventually.

[csziggy]

5. Last I read the Feds (Paulson) are refusing to give a list of who got the money

But I don't have documentation... By the time I find any, someone else may find the answer, but here is what Google is giving me:

http://www.rawstory.com/news/2008/Watchdogs_demand_bailout_transparency_1208.html

http://bailoutsleuth.com/ - this site has lists and articles about efforts to get lists:

Update on Freedom of Information Act requests
By Chris Carey on December 16, 2008 10:24 PM | No Comments | No TrackBacks

In early November, BailoutSleuth sent six Freedom of Information Act requests to the Treasury Department, seeking unredacted copies of the contracts it signed with six outside consultants on the $700 billion Troubled Asset Relief Program.

We wanted to know what was in the paragraphs that the Treasury Department had either blacked out or cut out. Most of the missing text related to amount of money the investment managers, law firms and accounting firms would be paid, the formulas used to determine their compensation or the employees who would be overseeing the work.

We told the Treasury Department that BailoutSleuth was an independent, online news organization that was tracking the government's rescue plan for the financial services industry. We asked that, because BailoutSleuth is journalistic enterprise, any fees for research and copying be waived. That's a standard request for reporters or news organizations filing federal records requests.

The Treasury Department responded within the 20 days allowed in the Freedom of Information Act. But the administrator handling the requests said he couldn't process them without more information.

"If you would like us to consider your fee waiver request, please provide information that would help the Department to determine whether the public would benefit from the disclosure of the records you requested,'' the letter said. "Please also provide information about your expertise in the subject area of your request, your ability and intention to disseminate the information to the public, and any specialized knowledge you have that would help you convey the information to the public."

The letter also asked us to specify an upper limit for the amount we'd be willing to pay for research and copying costs in the event our request for a waiver is denied. We did that in our reply, while noting that we expected any costs to be minimal because the redacted versions of the documents are posted on the Treasury Department's own web site and the original should not take long to locate. We are awaiting a response.

Meanwhile, Bloomberg News reported Friday that the Federal Reserve rejected its latest request for records about which financial institutions got more than $2 trillion in emergency loans from that quasi-government agency, and what assets those companies pledged as collateral.

Bloomberg said the Federal Reserve noted that the United States is facing an unprecedented financial crisis, and that "loss in confidence in and between financial institutions can occur with lightning speed and devastating effects.''

Bloomberg has been asking the Federal Reserve since late spring for details on the emergency loans and the collateral. After failing to get access to the information, it filed suit in U.S. District Court on Nov. 7.

The Federal Reserve's latest denial was in response to a broadened request for specifics on the loan programs. According to Bloomberg, the agency said in its response that it was allowed to withhold internal memos, trade secrets and certain commercial information.

"Notwithstanding calls for enhanced transparency, the Board must protect against the substantial, multiple harms that might result from disclosure,'' a Federal Reserve official said in a letter to the news organization.

[marketcrazy1]

7. see this ---

"Notwithstanding calls for enhanced transparency, the Board must protect against the substantial, multiple harms that might result from disclosure,'' a Federal Reserve official said in a letter to the news organization." this means ( to me ) that if they told us we would KNOW that ALL of the largest banks in America are insolvent!! banks such as, goldman sachs, citi bank, jp morganchase and bank of America... as well as AIG, amex,gmac and others. this crisis is FAR worse than many here imagine!!!

[csziggy]

8. And with the (miniscule) public outcry at the mis-use of some of the bailout

I am sure many of the financial institutions don't want us to know where the money they are using to buy up other businesses came from.

[Veritas_et_Aequitas]

6. Probably Madoff.

Paulson's done a piss poor job keeping track of things.

[earth mom]

9. Investors were paid dividends and huge bonuses were paid to employees.

That's where OUR money went! :grr:

AKA a ripoff of American taxpayers of EPIC proportions! :argh: