Everytime I turn around, the demands that the Democrats seem to be making to bail out their buddies get a bit bigger. From February 9, 2009 Bloomberg.com:
Pitchforks and torches time may be coming. And I'm afraid that distinctions between the billionaires who didn't back Obama, the Democrats, and the rest of this massive redistribution wealth upwards, and those who did, may not be easy to keep if it comes to that point. Like a sign here in Boise points out, "99% of lawyers ruin it for the rest."Feb. 9 (Bloomberg) -- The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more. The Senate is to vote this week on an economic-stimulus measure of at least $780 billion. It would need to be reconciled with an $819 billion plan the House approved last month.
Only the stimulus bill to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates enacted in 2008 have been voted on by lawmakers. The remaining $8 trillion is in lending programs and guarantees, almost all under the Fed and FDIC. Recipients’ names have not been disclosed.
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