Big surprise.  Obama’s just another puppet of the banking industry.

By Shift, January 13 at 7:24 pm #
“So it looks like fifty billion for foreclosures and three hundred billion more for banks.  Screw Obama, I’m with Congress, the money should be used for foreclosure relief, all of it!”

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So Shift,
Where (at least from this article) did you figure out that there would be fifty billion for foreclosures, and three hundred billion for the banks? Is it written in invisible ink that only you can see?

Where does it suggest that CONGRESS has said anything yet for you to agree on or be ‘with’? They’re still talking about it. That’s the point of the article.

It goes like this, (as described in the piece) Obama sent word to Congress via the outgoing but still ensconced bush reptiles, (because that’s the established protocol) to basically call a meeting in preparation for getting these funds disbursed into what is a free fall that the Paulson Team has failed to stop, despite the infusion of the first half.
That’s what they appear to be doing here:

“While some Democrats said they felt more comfortable after meeting with Obama, others said they still have a lot of questions and are unsure how they will vote on TARP.

U.S. Rep. Barney Frank, D-Massachusetts, and his House Financial Services Committee met Tuesday to look at how the TARP money has been spent so far.
A bill by Frank would tighten restrictions on distributing the money and designate part of the funds for foreclosure relief.

Frank said Monday that the remaining funds should be made available “under the appropriate conditions.”
“We should not allow our disappointment at the Bush administration’s poor handling of the TARP program to prevent the Obama administration from using the funds in more appropriate ways,” he said in a statement.

Frank said he hoped the House would pass a bill this week that would lay out the conditions necessary to assure the public gets “full benefit of these funds.”

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So maybe you should just cool your jets Shift, and see what they come up with. Tis better to remain silent and be thought a fool, than to open ones mouth or type on ones PC keyboard and PROVE it.

You claim the money is going to the banks instead of foreclosure relief, obviously without a clue to how such ‘foreclosure relief’ would be logistically set up. How exactly do we keep the current banking system OUT of any foreclosure relief efforts. Even if we send every current homeowner in foreclosure a government check to cover their arrears, don’t they still just have to send it to the banks?
Wouldn’t it just be better if we spent the money to allow the government to take over and service those mortgages? That would be my suggestion. In that case, we have to spend the money to buy those mortgages from the banks that are currently doing the foreclosing. (and yes…they continue en masse)

So do YOU have any practical suggestions on how to use this money to distribute foreclosure relief, and how much of it should be provided for those already on the street, or how to go about getting it to them?

Never mind; That was a rhetorical question.

I don’t want Bush (or Paulson) to have any control over that next installment. In fact congress should wait until Obama takes office to agree to the release. Obama had better realize that americans will not tolerate another round of Wall Street Hide & Go Seek, and by releasing during Bush’s last days will not deflect the blame if it is misused the same way.
This two time Clinton voter is beginning to get that ‘buyers Remorse’ again. Hillary, Geitner, Summers, Rubin…Not good Signs of ‘Change’. Granted the alternative was far worse (another puppet with mental defects and his dumbass ‘Barbie’ hick). But I have no interest in putting another so called ‘Dem’ in the WH who Rolls for every Neo Con/Corp wish list.
After the disgusting Reign of terror of Ronny & HW, Dems were willing to compromise, We are no longer that Charitable. The Repugs and their Lap dogs in Blue Sweaters and pantsuits, have not only Failed they have destroyed our Economy, Our ‘United’ ideology and our reputation throughtout the World for the last 30 yrs. we don’t need the hear their opinions, We’ve suffered under them long enough, and so has the rest of the World.
That next Round of 350 had better land DIRECTLY in OUR Pockets. Start ‘Bottoms Up’ Now or be considered Complicit with those we seek to prosecute and execute for High Crimes, including Economic Treason.
As much effort as was expended to get Obama in Office can also be turned against him. Careful Obama, you may have created your own Frankenstien through ‘grassroots’ organizations. I went Door to Door FOR You, I can just as easily go Door to Door AGAINST You!Use That money Wisely!

So it looks like fifty billion for foreclosures and three hundred billion more for banks.  Screw Obama, I’m with Congress, the money should be used for foreclosure relief, all of it!