Where’d bailout money go? Shhhh, it’s a secret – BostonHerald.com.
The article found in the Boston Herald points out that no one knows what the banks have done with the money Paulson gave them. This is why we conservatives out here fought so hard against this.
The bill was a bad one. No oversight, handing the Treasury Sec. virtually complete control of the “welfare of the American people”. What does that mean? Apparently, now it means bailing out the Big 3 Auto with money that was originally supposed to save the housing market.
And as for that housing market, the one that we were all told we needed this $700 billion to keep people from losing their homes? Paulson said only a few weeks after getting the money, he wouldn’t be doing that, the the “bad assets” the money was supposed to buy up were a bad investment. Really genius? You don’t say? I guess that’s why they were “bad assets” to begin with. <source>
In all honesty, the automakers bailout probably would not have been such a big deal if it hadn’t come 2 months after the Wall Street one. If Big Auto gets to Washington first, we bail them out, no questions. How many times have we bailed out the airlines & automakers in the past?
But because of the evil that was the Wall Street bailout, people are tired of watching Washington hand out our money. Especially when the Wall St. thing was jammed down our throats so fast, and now no one can tell us what been done with it, other then some company that imports child-size wooden arrows got a tax break. Great.