My, my. Now Congress is going to approve handing over yet another $350 Billion dollars, the second half of the original $700 Billion, to have it ready for when Obama is sworn into office.
There are promises of better accounting.
A vote is expected this week.
Is this insane when so many said there are much better and more importantly cheaper ways to assist financial institutions, many written about on this site?
Senate Banking Committee Chairman Christopher Dodd, D-Conn., said Sunday that lawmakers were assured there would be fuller accounting of the money spent on the bailout. Banks and other financial institutions have received billions from the government with few rules, and most won't say where the money has gone.
Obama, in a taped interview aired Sunday on ABC's "This Week," promised to see that more money goes directly to distressed homeowners. "When you look at how we have handled the home foreclosure situation and whether we've done enough in terms of helping families ... we haven't done enough," he said.
Is this incredible? "More" of zero can be very little. Currently homeowners have received hardly any help. A hotline is simply not help. Even worse, we have no idea what the banks did with the original $350 billion.
So, of course this should continue?