Tell Obama to get rid of the ‘bail-outs’

The “bail-out” packages are a travesty to American taxpayers.

Contact the Obama/Biden administration and let them know you want the bail-outs retracted.

One of the first things the Obama administration must do is to retract the $700 BILLION bail-outs. They were provided by the legislature and taxpayers “in good faith” but Sec. Treas. Paulsen ensured that there was no accountability for himself and those receiving the bail-outs. Consequently, there is no open measure to track that money. Would you give me — a lowly taxpayer — $2 BILLION and not ask how the money is being used or expect some sort of open trail? Retract the bail-outs ASAP and become more accountable to the voters / taxpayers you serve.

It’s time to get rid of “free lunch” for the financial/business sectors and to demand the open accountability of our elected officials.


Read the following AP article on the lack of a money trail:

“Where’d the bailout money go? It’s a secret

Banks won’t say, and there’s no way for taxpayers to find that out.

By Matt Apuzzo


Tuesday, December 23, 2008

WASHINGTON — After receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending it. Some won’t even talk about it.

“We’re choosing not to disclose that,” said Kevin Heine, spokesman for Bank of New York Mellon, which received about $3 billion.

Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money, said that some of the money was lent, but some was not, and the bank has not given any accounting of exactly how the money is being used.

“We have not disclosed that to the public. We’re declining to,” Kelly said.

The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what’s the plan for the rest?

None of the banks provided specific answers.”

Read the entire article at: