House Excerpt:One thing is clear, Ryan and his buddies in Congress never intended TARP funds to be used as a loan.
Tapping the TARP Sets Dangerous Precedent
"I am deeply troubled by the precedent set by expanding the TARP into areas beyond its original intent.— Rep. Paul Ryan
Could it be that the dangerous precedent Ryan is afraid of here is that the loan granted to the automakers is actually far more accountable than the billions handed out to Wall Street? Ryan instead, should have been pleased to know that $17 billion of the first $350 billion given away from the TARP is actually accountable to entities with U.S mailboxes, we can put a name and face on it …… and know why it’s needed and what it will be used for - whether you agree with it or not. You can't say the same for the rest of the money.
Just two months after the Ryan-brokered TARP, was this report published in the traditional media.
Denver Post Excerpt:Remember, Ryan was a key member supposedly, in writing up additional accountability and transparency measures into the Bush/Paulson TARP. He helped steer this program into the debacle it is today.
Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money — not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that's happening and there are no consequences for banks who don't comply.
House Excerpt:It just never ends for our representative. After explaining why he's against using TARP funds for a loan to the Big 3, he still finds room for a sound bite for the retirees, workers and families in his district who have lost two auto factories in the past 20 years. Speaking of which, he has shortchanged to the tune of $3.1 billion in jobs and economic development over the past three years.
"My concerns remain focused on retirees, workers, and families in Southern Wisconsin, but this form of assistance is the wrong way to go.”—Rep. Paul Ryan
Starting this Christmas 'O8, we can now find some comfort in knowing that at least one precedent set in Southern Wisconsin by re-electing Paul Ryan may be finally coming to an end with the unfortunate closing of the Janesville GM Plant - That being we don't have a third auto factory to lose.
.Cato Excerpt:Janesville Tops Racine For Worst Unemployment In Wisconsin.
“They can call themselves conservative all they want, but when push came to shove, they grabbed $700 billion from taxpayers and gave it to the fat cats on Wall Street,” he said. “It’s hard to say any of that is fiscally responsible.”
Both areas in Ryan's district.
5 comments:
We seriously need to get on with becoming energy independent. Utilizing alternative energy sources would not only lessen our dependence on foreign oil it would create cheap, clean energy, as well as create millions of badly needed new green collar jobs. This past year the high cost of fuel seriously damaged our economy and society. It destroyed every imaginable budget from national to state to the local school. While some are foolish enough to be doing the happy dance around the lower prices at the pumps they are totally missing out on the news that OPEC is planning to cut production and raise the price per barrel back up to between 75-100 bucks again. I just read Jeff Wilson's new book The Manhattan Project of 2009 Energy Independence Now. you can see it @ www.themanhattanprojectof2009.com It would cost the equivalent of 60 cents per gallon to charge and drive an electric vehicle. The electricity to charge the vehicle could come partially or totally from electricity generated by wind or solar. One of the most fascinating facts in the book is that ...If all gasoline cars, trucks, and suv’s instead had plug-in electric drive trains, the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota. Why don't we use some of the billions in bail out money to bail us out of our dependence on foreign oil? We must move forward as nation towards energy independence. Oil is finite, it will run out one day in the not too distant future. We need to use some of these bail out bucks to bail us out of our dependence on foreign oil.
Beyond Green is right and we have been telling that to GM SERIOUSLY for 10 years but they are profiting from the gas prices because they are invested in oil commodities. Every time I talk to a UAW member or rep about GM producing cars that people want like the Prisus, I would be told the same thing by all of them. GM is making good cars now - you should buy American. really - it was like they were zombies and brain dead. i was still told this by a retired worker one month ago. the workers cannot see they are being betrayed. I don't know why they are such tools but they are and they will pay for it. Unfortunately so will the innocent and the planet.
But I came over here to tell Louis that I finally fixed my computer so that when I click on the CONTACT US button I do get the email address and can finally use the bulletin board. Hurray for me!!!! I am so happy. I finally used the Help section; followed the directions; AND FIXED IT !!! This after 2 years of cursing the darkness.
It's interesting that the "motors" in "General Motors" is actually a better word for electrical motors and windings and such than "engines" which is more appropriate for oil and gasoline powered engines.
I would like to believe that American consumers only bought foreign vehicles because they were powered by something other than the internal combustion engine, but that did not happen. With gasoline prices now where they should have been all along, I'm afraid alternatives will be shelved once again.
This is precisely why I blogged against Rep. Ryan's position to divert the $25 billion earmarked to help the Big 3 build better energy efficient and environmental friendly vehicles. The Big 3 face two separate issues, one was now, the credit crisis, and the other is the future, to have the resources available to build those environmentally friendly vehicles. Ryan wants one to pay for the other, and still does.
GC, thanks for letting me know you fixed the problem. I opened up the email link with several different computers including one running on Vista with no problem. If you face an operative restriction on a web page you've never seen before, (no images, no animations, failure to open links or drop down menus, etc.) usually but not always, it could be the parameters chosen in "internet options' or your security settings.
Boy that was deep about Ryan - I have to read it again.
What happened is that when Best Buy gave me free installation (with Vista which I did not want as I like XP but it was forced on me). So I have Vista mail and people do a lot wrong in Vista, especially with Vista mail. They did not configure the email properly and because I kept getting messages with "mapi" in them (which is about videos), I could not figure it out. So nothing happened for me when I clicked "contact" except an error message. I thought this was just normal in Vista Mail.
But today something exploded in my head and I said there has got to be something wrong; I am the only one with this problem.
In Help there was a long list of things that could be wrong and one of them said defaults need to be restored or something like that and it was like an angel touched my shoulder when I saw that.
I followed it and hurray-- that was it. What a relief - I thought of you and the bulletin Immediately!
OMG, I see you put me in the Links. Thank You.
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