OpenMarket.org - Latest Comments in Bailout Bill Drafted by Senator Dodd Is a Scam on Taxpayers

Re: Bailout Bill Drafted by Senator Dodd Is a Scam on Taxpayers

henry sherman — Fri, 05 Dec 2008 13:14:13 -0000

Why isn't cerberus at the request for TARP funds THey own chrysler .They made a bad investment and should finance chrysler or sell it..

Re: Bailout Bill Drafted by Senator Dodd Is a Scam on Taxpayers

bruce — Sun, 28 Sep 2008 14:56:23 -0000

cris dodd has always been a crook who has tried to ruin america and anything he proposes will be wrong.dodd,schumer,frank and the whole democratic party caused this mess does anyone think they would have a solution that did not make it worse?i hope we have enough real republicans to block democrats=progressives=commies from fleecing us ounce again.

Re: Bailout Bill Drafted by Senator Dodd Is a Scam on Taxpayers

Bunce — Sun, 28 Sep 2008 13:43:33 -0000

Where is our Justice Department? Grand Jury? FBI?
Is it really possible that these arrogant twits can so openly engage in graft and corruption with impunity?

Re: Bailout Bill Drafted by Senator Dodd Is a Scam on Taxpayers

Jeff — Fri, 26 Sep 2008 11:43:05 -0000

I think it's worse than you portray, at least in the draft, which said:

"Not less than 20 percent of any profit realized on the sale of each troubled asset purchased under this Act shall be deposited as provided in paragraph (2).

(2) USE OF DEPOSITS.—Of the amount referred to in paragraph (1)— (A) 65 percent shall be deposited into the Housing Trust Fund .. (B) 35 percent shall be deposited into the
Capital Magnet Fund ..."

This appears to consider the sale of each individual asset by itself and takes money from those that might be profitable as opposed to considering the profitability, or rather more realistically, the loss to taxpayers on the assets as a whole. Just as Wall Street wants to privatize their profits while shifting the cost of their bad bets to taxpayers, the Democrats want to give any profits from any individual assets to their radical leftist buddies while sticking taxpayers with all the losses.