Yesterday during a press conference when asked what the administrations plan were for the TARP funds. President Obama said "I do not want to preempt my Secretary of the Treasury, he is going to lay out our plan in great detail". Then today Tim "Turbo Tax" Geithner came out and informed all of us he was not going to give us the details of the plan and the market dropped 382 points. Why will T3 Geithner not give us the details of the plan he and the "Anointed One" developed? I will tell you why, they have no plan. They do not have the ability to develop a plan and neither of them have the testicular fortitude to admit they are in above their head.
But coming to our rescue is Barney "there's a prostitution ring being run in my basement that I don't know about" Frank (D-Mass.). He is chairman of the House Financial Services Committee.
We have no plan but Barney has some real concerns about how the money will be spent. His concerns are the lack of any money to help homeowners facing foreclosure, the lack of complete information as to where the TARP money has gone and the need for tougher restrictions on compensating executives working at companies that have accepted financial help. Ahhhh so we have a plan to limit compensation packages. It all comes down to power folks. The Democrats, the same ones that got us into this situation, are only interested in power and control.
I think we call all agree that the economy started down this bad road when the housing market fell. Now back in 2002 the Republicans and Bush wanted investigation into the federal home loan industry. On the floor on the house Barney Frank asked the heads of Freddie and Fanny if they felt the federal home loan banks were substantially under regulated, they said "no" and he said "I would tend to agree with you".
Folks we are heading down a slippery slope. Barney, Obama, Geithner, and many more in this administration are failing us. We have a group of people running this country that should not be running a Wendy's. This group consist of an inexperienced leader, tax frauds, people that have received special loans while heading the banking committee, and all other sorts of criminals.
Lets wake up people.
Wednesday, February 11, 2009
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