PPVRA
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Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 4:47 pm

Quote:
Lobbyists Swarm the Treasury for Piece of Bailout Pie
By MARK LANDLER and DAVID D. KIRKPATRICK

. . .

The Treasury Department is under siege by an army of hired guns for banks, savings and loan associations and insurers — as well as for improbable candidates like a Hispanic business group representing plumbing and home-heating specialists. That last group wants the Treasury to hire its members as contractors to take care of houses that the government may end up owning through buying distressed mortgages.

. . .

Then there is the National Marine Manufacturers Association, which is asking whether boat financing companies might be eligible for aid to ensure that dealers have access to credit to stock their showrooms with boats — costs have gone up as the credit markets have calcified. Using much the same rationale, the National Automobile Dealers Association is pleading that car dealers get consideration, too.

. . .

Under the terms of the $250 billion capital purchase program announced last month, cash infusions are available to “qualifying U.S. banks, savings associations, and certain bank and savings and loan holding companies, engaged only in financial activities.”

That definition has grown to include private banks and insurers like Allstate and MetLife, which own savings and loans. It may also encompass industrial lenders like GE Capital and GMAC, the financing arm of General Motors, provided they win approval to reclassify themselves as a bank or savings and loan holding company.

. . .

Some lobbyists, Mr. Mason said, had called him even though they did not have any clients looking to get into the program or worried about its restrictions. They were merely seeking intelligence on which industries would be deemed eligible for assistance. He suspects they were representing hedge funds that wanted to trade on that information.

http://www.nytimes.com/2008/11/12/bu...login&pagewanted=print&oref=slogin

I think calling this the opening of a major can of worms is an understatement.

[Edited 2008-11-12 08:49:00]
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
Okie
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Joined: Wed Jul 16, 2003 11:30 am

RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 5:39 pm

I am trying to act SURPRISED

You start handing out free money, do not be suprised who starts standing in line to get some.

Let me try this one " If Okie does not get some free money, then he will have less time for A net"

Okie
 
AirCop
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 6:48 pm

Now according to the WSJ - American Express is requesting $3.5b...American Express Co. which is being hit by slowing consumer spending and rising defaults, is seeking roughly $3.5 billion in taxpayer-funded capital from the federal government, according to people familiar with the situation.
 
Confuscius
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 7:06 pm

Capitalists endorses socialism!?  scratchchin 




Viva! La Revolución Viva!
 bigthumbsup 
Ain't I a stinker?
 
QXatFAT
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 7:23 pm



Quoting AirCop (Reply 2):
taxpayer-funded capital from the federal government

Hmm and who will be giving out all of this money? That is right. Our "cut spending" Dems in office. Interesting.
Don't Tread On Me!
 
Confuscius
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 7:28 pm



Quoting QXatFAT (Reply 4):
Hmm and who will be giving out all of this money?

Hank Paulson
Ain't I a stinker?
 
PPVRA
Topic Author
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 9:16 pm

Quoting Confuscius (Reply 5):
Hank Paulson

Paulson says US bail-out working

Big and red headlines at http://www.cnn.com/ :

Dow ends with 400-point loss, pushing the 3-day drop to about 650, on concerns about retail and banking sectors.

 

[Edited 2008-11-12 13:25:52]
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
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Dreadnought
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 9:40 pm

Lefties have always scoffed at the idea that the Bush Administration and much of the GOP in Congress are not conservatives. Well, here is the proof.

And for the 2008 election, we didn't even have a conservative on the ballot, except for a VP candidate, which doesn't really count.

Bring back conservatism!
Forget dogs and cats - Spay and neuter your liberals.
 
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Aaron747
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 11:35 pm



Quoting QXatFAT (Reply 9):
What? How can I join you in that?

Live overseas, file the Foreign Income Exclusion or Foreign Housing Exclusion, and make $82,000 or less. Helps to offshore any investments that have capital gains as well (all of my investments are paid in yen or Hong Kong dollars).
If you need someone to blame / throw a rock in the air / you'll hit someone guilty
 
QXatFAT
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 11:43 pm



Quoting Aaron747 (Reply 10):
Live overseas

 checkmark  sounds good. Actually I plan on moving to Brasil or Paraguay in the next 2 years. So maybe I will finally be able to join you in this.

Question:

Are all the monies that is going to AIG and possibly GM and these Lobbyists all coming from the one bailout bill or is it coming in addition to the bailout bill?
Don't Tread On Me!
 
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Aaron747
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Wed Nov 12, 2008 11:50 pm



Quoting QXatFAT (Reply 11):

Are all the monies that is going to AIG and possibly GM and these Lobbyists all coming from the one bailout bill or is it coming in addition to the bailout bill?

There was so much pork added to the bailout bill it's likely it will be necessary for them to cull from other funding streams to hit the target allotted amount. Again, a disgusting abuse of the American taxpayer.
If you need someone to blame / throw a rock in the air / you'll hit someone guilty
 
WunalaYann
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RE: Lobbyists Swarm The Treasury For Piece Of Bailout

Thu Nov 13, 2008 1:05 am



Quoting PPVRA (Thread starter):
I think calling this the opening of a major can of worms is an understatement.

I wish Superfly could read this, I have been trying to drive that point home for a while now...  Wink

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