Tuesday, November 11, 2008

Outrage starting to boil re: $700 billion buyout plan?

Financial institutions using TARP bailout money to pay executive bonuses <--This is REALLY going to piss off the taxpayer and come back to haunt Wall Street. If they do this it will be them vs. Uncle Sam for the next 4 years. Don't do it guys....If you need to come to the government for a handout, shouldn't your executives forgo a bonus as they are doing in Europe?

The Fed refusing to reveal who received almost $2 trillion in non-TARP loans, or what collateral it has accepted from "emergency" loans made to struggling firms, as Bloomberg reports.

The Treasury Department providing a tax break to banks involved in acquisitions that could amount to $140 billion. <--I, for one, don't have that much of an issue with this one. The reality is it will re-build balance sheets for banks and hopefully keep interest rates low as they won't have to charge crazy rates to generate decent EPS. There are two sides to every story here....

Dan Ross

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