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itâ? s signed only a few weeks since Treasury Secretary Henry Paulson, Congress? 0000000000 plana great bailout? the Troubled Asset Relief Program (TARP). Â What do we have to show it? Â No one knows. What? In addition, we are now in complex financial difficulties thatâ? S as messy as the fiasco of the origin. A and the situation is even more dangerous because Paulson keeps waffling.

As you know, was the original plan to buy 0 billion toxic securitiesâ? The deterioration of mortgage arrears, which began on financial meltdown. other words, now, taxpayers 0 billion U.S. dollars somebody would affect property, allegedly to back the credit markets frozen in motion. But toxic loan plan never took off.  He couldn? T move far or fast enough to promise immediate relief Paulson.

rather

Ministry of Finance announced he had a new plan to the thawing of the credit crunch goal developed markets. The new plan: put the money directly into major banks by adopting a little known clause in Sec. 113, (e) (1) of the TARP legislation «???? economists Stock injection Alternative.â promised ????

Paulson used injection stock actually order one? Rescue?  banks, but have a fragile property, the government? The taxpayersâ? If the holders of preferred shares of banks themselves. This means that the taxpayer would be promised a return (to pay for preferred stock interest), and these joint actions with the first matches. The taxpayer would be protected more and less likely to lose money.

midst of these maneuvers come and go

began to whisper to people that perhaps Paulson didnâ? T really know what to do. First hea? D said that the purchase of toxic mortgage investments made banks in difficulty, especially those at risk, the failure to domestic or global financial systems, was the only alternative failures. to the bank and he adamantly resisted proposals that Congress his plan.Â

could then change after the first 0 billion was released, he switched gears unexpectedly, which some believed was too broad and too vague direction.

Paulson had spent dollars to bail out insurance giant, AIG. But even after a congressional hearing and admission to the scandalous companyâ? ? s costly mess back station AIG nor the audacity of the tub of money, and that is another billion.

If someone were to follow in the treasure chamber, where those dollars go, they arena? t let on. In fact, banks have given money has done little to thaw the credit U.S. companies or consumers.  banks seem to be more willing to lend to each other, have been assessed by a decrease in LIBOR rate. But the unconditional nature of the rescue plan may use some of the money in ways Congress did not intend. For example, using PNC Bank in Pittsburgh, PA, a part of the cash flows associated with the acquisition of Centurion branches in its market area.

car loan and car loans to the series

drift far from the intent of Congress , Paulson said he wanted the program to rescue the credit markets and non-bank credit has debts on credit cards, auto loans and student loans to expand. American Express, with a pinch of fairy dust Treasury, was seen as a bank, others say for the feeding trough with the companies others. as GMAC, the lending arm of General Motors, and qualified carmakersâ? Lending units, standing in line as well.

the original Paulson bailout czar sought the approval of a general transfer without the review of a court or an administrative authority. His first â? Mea trust right? Proposal didnâ? t fly. Congress has the public that all approved plans, it incorporated in the monitoring would have ensured.

But not only have the beginning of November, the White House failed to appoint a special inspector general of the head of the monitoring efforts, the Congress had yet to appoint members of a congressional oversight committees of five people. In fact, seems to have a comprehensive plan does not exist.

much money was blown on the door, but nobody felt like to consult with Congress on any of the details. Finally, the legislature stepped on the plate.

18th November Paulson faced tough questioning by members of the House Financial Services Committee, where he shared the table with Fed Chairman Ben Bernanke. In addition to sharp criticism of the mistreatment of issues, specific questions reminder that the TARP was money to support homeowners facing foreclosure, an idea strongly supported by the FDIC chairman Sheila Bair.

Paulson argued that TARP was intended to stabilize the financial markets and credit flows not serve as a panacea for all our economic problems. And he dismissed questions about future plans, said he had no intention of distributing the second half of the 0 billion program? Obama leaving the administration with him, “he said.

trillion secret deal

Already In mid-October, the Federal Deposit Insurance Corporation has announced a billion new three-year programa? the temporary liquidity guarantee Program. The program aimed to build confidence and encourage liquidity in the banking system. This guarantee is in addition to the plan 0000000000 preference shares We already mentioned.Â

may perhaps be curious details of this case billions, maybe a little transparency?  Well, never mind. Federal Reserve Chairman Ben S. Bernanke said the central bank would no details of loans from public funds because it is a? stigmatize the banks that need to money.â

American taxpayers deserve a coherent explanation for what happened with all the money spent so far, like whoa? s got what, how and why. They promised oversight and transparency, but Bernanke? Itâ statement? s left yet another example of a whole country in the dark with no real answers.

today more than ever, Americans trust their government to make intelligent decisions as they have this kind of financial fiasco. The best way to restore confidence is for the Congress to do what he said he would do: close monitoring of the rescue plan process. you would do well from the start, keep an eye on Paulson, a man bent on the rules as he goes along seems.

Perhaps the fiasco bailout package was well summarized during hearings in Congress as Gary Ackerman (R-NY) Paulson eyes checked and said that one? They seem to fly a plane by 0 billion the seat of your pants. It seems the regime’s second-largest bait and spend history has ever known, the reasons given to us by voting for the invasion of Iraq “

hardly the final chapter of story. you can find updates on our website: Web:. www.financialspeculation.com.

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