Monday, December 22, 2008

Obsenities

This is obscene.

Some selections:

"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."

"We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars.

"We manage our capital in its aggregate," said Regions Financial Corp. (RF) spokesman Tim Deighton, who said the Birmingham, Ala.-based company is not tracking how it is spending the $3.5 billion it received as part of the financial bailout.

Ummm, how to properly respond? BULLSHIT!!! Complete and total b-o-l-o-g-n-a. These are frickin banks! It is their job to know how they've spent their money! If they aren't competent enough to know, I have every reason in the current climate to suspect they are busy as can be concealing extra bonuses and 'compensation' for those in power. They got the government to buy stock in their own personal Madoff scheme and are playing the American people for fools. They know where the money is going, and they ought to tell. As the reporter puts it:

"If the appropriate restrictions were put on the money to begin with, if the appropriate transparency was in place, then we wouldn't be in a position where you're trying to call every recipient and get the basic information that should already be in public documents," she said.

Amen. I'm sure that much of it is being put towards the intention that was advertised; and also that a repugnant chunk is being used for nefarious purposes. This is unacceptable. I don't know what I can do about it. Vote incumbents out and not do business with any of these banks. Impossible, and for what gain? This world is jacked up. Screw you Gordon Gekko.

1 comment:

Linger said...

Dude. Complete utter agreement. What can we do about it? I'm rather politically inept.