No TARP money for UAW bailout: It’s illegal

By Michelle Malkin  •  December 12, 2008 12:02 PM

Dear President Bush:

We repeat: No means no.

And the law is the law.

Read it.

No TARP money for the UAW bailout.

It’s illegal.

Stop the bailout cycle.

Follow the law.

Posted in: Subprime crisis

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Trackbacks

  1. TARP Money to Detroit is Illegal « Trust, But Verify
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  3. Yes, I’ve been away… « The Old Right Daily
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  7. President Bush Still A RINO on The Automakers Bailout « Jane Q. Republican
  8. The Automotive Bailouts: The Other Side of the Story | Political Byline
  9. TARP Bailout for Automakers Illegal? « Lenny Dell
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  11. Michelle Malkin » No TARP money for UAW bailout: It’s illegal | Le Meilleur Blog Tunisien
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  14. Would A TARP Bailout for Detroit Be Illegal? | The American Pundit
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  16. White House Backing Off of Detroit Bailout? Maybe… « Jane Q. Republican
  17. Stalling, Hedging, Or Just Plain Out Of It? : Talk Of…
  18. Administration’s Unilateral Auto Bailout: Illegal or Unconstitutional | OpenMarket.org
  19. Governnor Mark Sanford (R-SC) Calls On President Bush To Not Tap TARP for Automakers « Jane Q. Republican
  20. Michelle Malkin » Anyone want to sue over the illegal UAW bailout?
  21. More Criticism for Unconstitutional Auto Bailout | OpenMarket.org
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Comments


  1. #570208
    On December 12th, 2008 at 12:05 pm, Gorebot said:

    Since when has “legality” ever stopped the criminal idiots in Washington DC?

    Pitchfork time; it’s a comin”’…

  2. #570211
    On December 12th, 2008 at 12:06 pm, MtsEdge said:

    Hoisted by their own peTARP

  3. #570214
    On December 12th, 2008 at 12:06 pm, CantCureStupid said:

    No TARP money for UAW bailout: It’s illegal

    As if that makes matters…. Criminals (even the elected ones) don’t care about laws.

  4. #570216
    On December 12th, 2008 at 12:07 pm, CantCureStupid said:

    Oops…

    As if that matters…. etc. Need more coffee.

  5. #570220
    On December 12th, 2008 at 12:11 pm, Gorebot said:

    “Waiter, I’ll have a venal, flagrantly opportunistic political whore to go, please.

    What’s that, they only come in packages of 535 (minus approx 10 with actual Constitutional convictions)?

    And I have to take them, or else I go to jail?

    Where do I go hang myself????”

  6. #570229
    On December 12th, 2008 at 12:15 pm, luckydogg said:

    We are not bailing out the auto co’s…

    It’s the UAW!!!!!!

  7. #570230
    On December 12th, 2008 at 12:15 pm, cheapseat said:

    do you think one of those “leaders” in the senate could go advise the president that this is money allocated for a specific purpose, and to reallocate that money would violate the law, and subject him to impeachment at this late date.

  8. #570231
    On December 12th, 2008 at 12:15 pm, sonofdy said:

    Its illegal AND?????

    Michelle, michelle, michelle, like that has ever stoped them.

  9. #570234
    On December 12th, 2008 at 12:15 pm, cpodug said:

    they only come in packages of 535

    We can only wish

  10. #570238
    On December 12th, 2008 at 12:17 pm, sonofdy said:

    and subject him to impeachment at this late date.

    This is congress, it would be 6 months and 10 trillion dollars till they even convened the commitee.

    Nobody is going to impeach bush now.

  11. #570241
    On December 12th, 2008 at 12:18 pm, Wethal said:

    Foxnews is reporting that TARP funds will be used to bail out automakers.

    Like who’s going to stop them?

  12. #570244
    On December 12th, 2008 at 12:20 pm, thefoundingfathers said:

    This is only going to get worse after Jan. 20, 2009. The foundation of our country and freedom is being sold by a group of citizens and their (s)elected politicians to the government that is slowly becoming less of the people, less by the people and less for the people.

    To all you liberals that like to quote Ben Franklin about those willing to sell a little liberty for security deserve neither as opposition to the Patriot Act. The selling of our property and livelyhoods is what he meant and not letting the government do its job in protecting us from all enemies foreign and domestic.

  13. #570247
    On December 12th, 2008 at 12:22 pm, b-cat said:

    Dear President Bush:

    We repeat: No means no.

    And the law is the law.

    We’ve had this same problem with this same government before. It’s the exact argument about immigration, and our president cares not.

  14. #570248
    On December 12th, 2008 at 12:23 pm, madchef said:

    The republican senators who stopped this bill need to file a suit to prevent Bush & Paulson from circumventing their authority. They must stop this renegade government now.

  15. #570252
    On December 12th, 2008 at 12:25 pm, madchef said:

    STOP THE LOOTERS!!!!

  16. #570253
    On December 12th, 2008 at 12:25 pm, Gorebot said:

    Watching just long enough to avoid puking, I noticed Keith OlberIdiot last night “actually documentating” that UAW workers in American auto plants suppossedly “make less” than their non-union counterparts in foreign-owned American auto plants.

    With this kind of blatantly falsified, agenda-driven “news reporting”, it’s no wonder the criminals in DC believe (rationally, perversely) that they can get away with virtually anything.

    With nearly every “reporter” spinning “the facts” to fit their own agenda, it’s near impossible to know which way is up anymore.

  17. #570262
    On December 12th, 2008 at 12:29 pm, DBNinKY said:

    No TARP money for the UAW bailout.

    Say it loud, say it proud – and save generations of Americans from a future of indentured servitude to China in the process!

  18. #570279
    On December 12th, 2008 at 12:38 pm, Misscheryl said:

    United Auto Workers Lash Out at GOP Senators Over Bailout Collapse

    http://www.foxnews.com/politics/2008/12/12/auto-workers-union-lashes-gop-senators-bailout-collapse/

    UAW and Middlefinger – Go.Pound.Sand.

  19. #570289
    On December 12th, 2008 at 12:46 pm, pianoman said:

    On December 12th, 2008 at 12:25 pm, Gorebot said:

    Watching just long enough to avoid puking, I noticed Keith OlberIdiot last night “actually documentating” that UAW workers in American auto plants suppossedly “make less” than their non-union counterparts in foreign-owned American auto plants.

    If that’s true, why have a union?

  20. #570294
    On December 12th, 2008 at 12:47 pm, pianoman said:

    Doesn’t that TARP agreement say that the Treasury Sec. can do whatever he wants with that money, basically?

  21. #570300
    On December 12th, 2008 at 12:51 pm, dave_r said:

    Hmm. The phrase “but not limited to” likely gives enough wiggle room to permit this. I read the linked essay but am not convinced. Boil it down and it says a financial institution is any institution at all as long as it isn’t foreign-government owned. Doesn’t make much sense to be sure, but just look at the chuckleheads who write our laws.

  22. #570303
    On December 12th, 2008 at 12:53 pm, WrathOfKhan said:

    You mean illegal like subverting the sovereign courts of the state of Florida and suberting the Supreme Court by enacting person-specific legislation in regards to Teri Shaivo?

    Since when did Bush care about being on the right side of the Constitution?

  23. #570304
    On December 12th, 2008 at 12:53 pm, Rogue Cheddar said:

    Fine, you can use TARP money to bail out the 3 Stooges as soon as you tell us who has been getting the money all along. You know, that transparency thing you guys speak of so highly.

  24. #570315
    On December 12th, 2008 at 1:03 pm, thirteen28 said:

    Is someone going to file suit to get an injunction that prevents the WH from using TARP money to bail out the UAW (since that’s who this is really for)?

    Judicial Watch? Bueller? Anyone? Anyone?

  25. #570319
    On December 12th, 2008 at 1:05 pm, corona said:

    Uh, okay, but riddle me this:
    Since the executive and legislative branches have already acted unconstitutionally, why should breaking a law mean anything to them?

  26. #570321
    On December 12th, 2008 at 1:06 pm, brad_sk said:

    On December 12th, 2008 at 12:05 pm, Gorebot said: at 1

    Since when has “legality” ever stopped the criminal idiots in Washington DC?

    Especially with the Bush administration in last 5 years? Somebody needs to make Bush/Bheney/Paulson read some book on true conservatism.

  27. #570340
    On December 12th, 2008 at 1:18 pm, bjc said:

    The UAW gravy train, driven by their President Ron Middlefinger, has finally run out of track; The TARP money will not help them because they are unwilling to make real concessions; Remember, they are a cross between a scorpion and a vampire bat; Like a scorpion, they paralyze a company in their day to day operations and in their short and long term business planning, and then, like a vampire bat, they bleed the company dry; I urge President Bush to forego another trip down this rat hole of a bailout.

  28. #570347
    On December 12th, 2008 at 1:25 pm, Kevin K. said:

    Since when has a law made any difference to anyone in Washington since, I dunno, the Reagan administration? Washington politicians haven’t even bothered with the Constitution too much (Social Security, talk of universal health care) except when they want a fig leaf, since FDR.

  29. #570363
    On December 12th, 2008 at 1:35 pm, RabbidSquirrel said:

    Michigan Gov. Jennifer Granholm (D) said it was “un-American” for senators to have voted against approving a bailout of troubled automakers last night, saying their vote may cause a recession to become a depression.

    Riiiiiiiggggghhhhhtttt. Because we stupidly cling to patriotism and cant see that you are an idiot. Bad policies, politicians and taxes deserve to be thrown out when it is against the public good.

    Patriotism is for the good of the country. But it is not to be used as a cure all for idiot politicians to salvage their careers or to plung us deeper into an economic hell worse than natural forces will lead us to.

    And once all of this is cleared up or as part of our economic overhaul, we need to go after the “un-american” politicians and judges that corrupted our imminent domain rights also.

  30. #570373
    On December 12th, 2008 at 1:39 pm, Socky said:

    Michigan Gov. Jennifer Granholm (D) said it was “un-American” for senators to have voted against approving a bailout of troubled automakers last night, saying their vote may cause a recession to become a depression.

    Jenni Granholm is the economic wunderkind whose big idea for reviving Michigan’s economy was “Cool Cities.”

    i.e.,If only Detroit had enough trendy coffee bars, prosperity would follow.

    Never mind that Detroit can’t even keep any supermarkets open inside the city limits.

    Would you want to buy from a UAW-staffed coffee bar? Your coffee would come to you cold, forty minutes late, cost $40 a cup, and they’d spit in it.

    Real economic genius, Michigan governor Granholm. And the people of Michigan proved their own genius by re-electing her.

  31. #570384
    On December 12th, 2008 at 1:48 pm, rightwingrocker said:

    The bailout itself was also illegal.

    Didn’t see it stopping the congresscritters from trying it.

    Americans need to do their part in enforcing the law.

    RWR
    http://www.rightwingrocker.com

  32. #570389
    On December 12th, 2008 at 1:51 pm, MarcoPolo said:

    To all you liberals that like to quote Ben Franklin about those willing to sell a little liberty for security deserve neither as opposition to the Patriot Act. The selling of our property and livelyhoods is what he meant and not letting the government do its job in protecting us from all enemies foreign and domestic.

    Excuse me? You and yours decided to allow Bush decide which parts of the Constitution applied to him. If freedom needed rescinded, then he should have had the cajones to actually change the law instead of only interpreting it favorably to support imperlialstic goals. *That’s* the true liberal approach. Far right conservatives like me favor a strict interpretation – it is the liberals that favor the “living document” approach.

    Congratulations, Dr Frankenstein – it’s alive. And, your about to hand control to the Democrats.

    Told you it was a bad idea.

  33. #570413
    On December 12th, 2008 at 2:07 pm, jlibertarian said:

    If only the whole country knew what Michiganders know: that Jenny Granholm is a useless joke. Nobody has a lesser grasp of economics than this dimwit. Same old liberal bleeding heart propaganda.

  34. #570417
    On December 12th, 2008 at 2:12 pm, gandolphxx said:

    My read was that Michigan would consider a depression a step up. Their govenor has already taken them through the worse.

  35. #570427
    On December 12th, 2008 at 2:23 pm, 57fender said:

    No TARP money for UAW bailout: It’s illegal
    You think a small thing like illegality will stop this?

  36. #570428
    On December 12th, 2008 at 2:26 pm, rambler said:

    What law? Do you see a law? Well, we just ignore those laws, they’re for the little people to follow.

  37. #570438
    On December 12th, 2008 at 2:35 pm, popcornguy said:

    Michelle, I’d never choose to argue semantics with you. You are the most well spoken firebrand I’ve seen in a very long time. However, I think Heritage missed it…

    Heritage,
    I’d love to applaud your catch, but you failed to recognize the 4 most important words of that paragraph — ‘…but not limited to’. Looking very carefully at the definition, a financial institution can include anything in the list, or anything else Emperor Paulson and friends can dream up. There are no limits! Sleep with one eye open America, trust NO ONE.

  38. #570440
    On December 12th, 2008 at 2:36 pm, Last Massachusetts Conservative said:

    On December 12th, 2008 at 1:39 pm, Socky said:
    Would you want to buy from a UAW-staffed coffee bar? Your coffee would come to you cold, forty minutes late, cost $40 a cup, and they’d spit in it.

    You would also have to fill out a request form when you order the coffee and wait for the request to be approved by a safety committee.

  39. #570441
    On December 12th, 2008 at 2:37 pm, rightisright said:

    As stated above “who’s going to stop ‘em”?

    The Big3: poorly managed for decades, including union negotiations with UAW.
    The Answer: Bankruptcy Chapter 11
    get rid of current management and get drastic union concessions , restructure debit….tax payers saved, the way it should be done. Or go out of business.
    Typical demcrap scare tactic, “they’ll go out of business”, not if they take out bankruptcy.

  40. #570448
    On December 12th, 2008 at 2:40 pm, Bruce said:

    THE BAILOUT IS COMING, FOLKS.

    No use in trying to fight.

  41. #570451
    On December 12th, 2008 at 2:40 pm, Valiant said:

    They should restructure without the unions. Offer existing employees a compensation package more in line with the marketplace. No more bloated pensions or job banks. Pass off the bloated UAW pension obligations to the fed pension trust fund and let the feds cut it back.

    Take it or leave it.

  42. #570455
    On December 12th, 2008 at 2:46 pm, fulldroolcup said:

    We would all enjoy Mr. Marco Polo pointing to instances supporting his claim that Bush decided which parts of the Constitution “applied to him” and not to other American citizens. And vice versa.

    We also eagerly await his explanation as to why the Democratic Congress didn’t use legislation to thwart Bush’s illegal and unconstitutional power grab, or just impeach him and be done with him.

    My guess is, he knows he is blowing smoke.

  43. #570461
    On December 12th, 2008 at 2:50 pm, Last Massachusetts Conservative said:

    Well said fulldroolcup

  44. #570466
    On December 12th, 2008 at 2:54 pm, NBF said:

    Promise to boycott all bailout recipients.

    It might make them a little less eager to stick their hand out and stick it to the taxpayer.

  45. #570482
    On December 12th, 2008 at 3:17 pm, b-cat said:

    On December 12th, 2008 at 2:40 pm, Bruce said:
    THE BAILOUT IS COMING, FOLKS.

    No use in trying to fight.

    I couldn’t disagree more. Fight, fight, fight. Never give up. Sometimes the fight is the thing.

    Even a futile effort is commendable if for the right cause. Think of Holland resisting a German invasion. Should they have just submitted? I say no.

  46. #570489
    On December 12th, 2008 at 3:30 pm, MtsEdge said:

    On December 12th, 2008 at 2:54 pm, NBF said:
    Promise to boycott all bailout recipients.

    It might make them a little less eager to stick their hand out and stick it to the taxpayer.

    In the new socialist America, they’ll just come back for another bailout a little quicker…no consequences for poor business practices.

  47. #570497
    On December 12th, 2008 at 3:38 pm, walterc said:

    Bruce said:

    THE BAILOUT IS COMING, FOLKS.

    No use in trying to fight.

    Sorry Bruce, but I’ll take my lead from Winston Churchill:

    “Never Surrender”

    “We shall not flag or fail. We shall go on to the end. We shall fight in France, we shall fight on the seas and oceans, we shall fight with growing confidence and growing strength in the air. We shall defend our island, whatever the cost may be. We shall fight on the beaches, we shall fight on the landing-grounds, we shall fight in the fields and in the streets, we shall fight in the hills. We shall never surrender!

    — Winston Churchill – House of Commons, 4 June 1940, following the evacuation of British and French armies from Dunkirkas the German tide swept through France.

  48. #570502
    On December 12th, 2008 at 3:42 pm, Southpaw said:

    America is leaderless.

  49. #570508
    On December 12th, 2008 at 3:51 pm, WarEagle82 said:

    If 100% of the American people opposed this bailout Bush and Congress will still do it. They won’t let a small detail about “legality” get in the way of bankrupting the nation.

    I LOVE the irony of a bankrupt nation offering to bailout 3 almost bankrupt auto companies and then claiming moral authority to tell them how to run their business. Is this a George Orwell novel?

  50. #570511
    On December 12th, 2008 at 3:53 pm, JonB said:

    This is just a new form of welfare. Nothing more. The government is going to rape the taxpayers of every last penny and give it away to undeserving morons who suffer from Entitlement Syndrome. The UAW bailout is nothing less. The companies are failing and not able to pay the paychecks of the grossly overpaid UAW members, so now it’s going to be up to the taxpayer to pay the grossly overpaid UAW members.

  51. #570512
    On December 12th, 2008 at 3:53 pm, nbarry said:

    One thing that has gone unmentioned over the weeks leading to this is that Japanese and Korean car makers are allowed to build plants here and employ nonunion labor to effectively undercut the Big Three. Yet, the Big Three are not allowed to build nonunion plants in Japan or Korea, whose governments protect their own manufacturing bases. Shouldn’t we be demanding reciprocity here, especially since us taxpayers footed the bill for postwar reconstruction in both countries? And don’t tell me that our cars wouldn’t sell over there because they are inferior to the local products. That’s a crock. Globalization and free trade may have enriched a few politically connected tycoons, but they have caused only grief for the rest of us. Instead of free trade, we should be demanding fair trade.

  52. #570513
    On December 12th, 2008 at 3:53 pm, WarEagle82 said:

    “He has all the virtues I dislike and none of the vices I admire.”

    — Winston Churchill

  53. #570530
    On December 12th, 2008 at 4:17 pm, katablog said:

    Holy Guacamole! Whose side is President Bush on? We’ve spent years trying to support this guy and this is how he treats us in the end?

    Illegal still means illegal even if it doesn’t apply to illegal alien this time.

    Wait for your “representatives” (and I use that term tongue in cheek these days) to work over the weekend to declare the big 3 as financial institutions. Totally out of control.

    Each week becomes more and more unbelievable.

  54. #570533
    On December 12th, 2008 at 4:18 pm, katablog said:

    The government is going to rape the taxpayers of every last penny and give it away to undeserving morons who suffer from Entitlement Syndrome.

    They’ve already accomplished that with the first $7 trillion in debt. What’s next?

  55. #570536
    On December 12th, 2008 at 4:20 pm, lgm said:

    MM and conservatives have been chearing for Bush (and before him Reagan) lawbreaking — illegal wiretapping, secrecy, torture, … . How quaint that they now urge him to follow the law. As you sew . . . .

  56. #570545
    On December 12th, 2008 at 4:26 pm, WarEagle82 said:

    So, let’s get this straight. Bush gets the FISA bill approved (and Obama votes FOR it) to authorize wiretapping but it is somehow illegal…

    And Bush keeps “secrets” from us. I would ask lgm to tell us what secrets Bush is keeping but I guess we can’t know that because they are “secrets.” Funny, but I wonder if lgm was as concerned about “secrets” in the Clinton years. Of course Clinton’s lies under oath probably outnumber the secrets he kept by a large factor.

    This kind of “reason” could only come from the “tortured mind” of lgm…

    On December 12th, 2008 at 4:20 pm, lgm said:
    MM and conservatives have been chearing for Bush (and before him Reagan) lawbreaking — illegal wiretapping, secrecy, torture, … . How quaint that they now urge him to follow the law. As you sew . . . .

  57. #570547
    On December 12th, 2008 at 4:28 pm, Rogue Cheddar said:

    And who was it that you cheered for, lgm?

  58. #570639
    On December 12th, 2008 at 5:23 pm, xblade said:

    MM and conservatives have been chearing for Bush (and before him Reagan) lawbreaking — illegal wiretapping, secrecy, torture, … . How quaint that they now urge him to follow the law.

    We have a problem with real lawbreaking, not bogus, BDS-induced liberal claims of lawbreaking. We have a problem with REAL torture, not pansy-assed “my soup is cold-where’s my Koran” liberal torture. And secrecy…is secrecy against the law?

    By the way, aren’t you a teacher? Learn to spell, moron. You’re dumbing down your students enough as it is.

  59. #570651
    On December 12th, 2008 at 5:33 pm, FamilyMan said:

    Follow the law.

    What a novel idea.

  60. #570733
    On December 12th, 2008 at 7:27 pm, expres12 said:

    Bush surpassed Carter as the worst President of my life span back when he was force feeding us amnesty. This just solidifies his distinction.

    The truly sad part is that not only did he butcher the office, he destroyed the Republican party and conservatism. I loathe the man.

  61. #570785
    On December 12th, 2008 at 9:33 pm, Valiant said:

    #60- The descendants of James Buchanan would agree with you.

    Bush deserves every bit of his low approval rating. He has betrayed conservatives everywhere.

    At least McCain did not get in there to finish the job.

  62. #570786
    On December 12th, 2008 at 9:38 pm, Eyas said:

    Seriously Michelle, what country do you think you’re living in?

    If you said America, you’re wrong. America is dead! Some socialists came along, killed it, and assumed its name.

    I spent years rejecting the liberal line that George Bush was either evil, retarded, or both.

    Turns out they were right. For all the wrong reasons; but, nevertheless, they were right.

    President Bush is trying to insure his “Legacy” by trying to avoid being in office when the Big 3, and the banks, and AIG, etc., etc. go bust.

    He’s insuring his legacy alright. He’ll be remembered by history not as the man who fought terror and liberated two nations — but as the single worst president EVER. He’ll be remembered (by me, at least) as “The Man Who Killed America”.

  63. #570820
    On December 12th, 2008 at 10:43 pm, Wellsy said:

    At least McCain did not get in there to finish the job.

    I just voted for this man, and I agree with you. This is the sad state of our national affairs.

    UAW bailout? Awesome. They’re more like the sports agents of industry, more concerned with getting their clients the most lucrative deal over the good of the actual team.

  64. #570859
    On December 13th, 2008 at 1:56 am, bluesoc said:

    I hate to say it, but based on the language cited on the Heritage Foundation, I don’t think it’s illegal.

    The term ‘financial institution’ means any institution… established and regulated under the laws of the United States

    The statute lists the types of institutions they had in mind (banks, credit unions, etc.), but specifically note that it is NOT limited to just those.

    I don’t think they’ll have much legal trouble on this one.

  65. #570872
    On December 13th, 2008 at 4:19 am, Mark Jaquith said:

    The law hasn’t stopped him until now. And he’s on his way out. What does he have to lose?

  66. #570882
    On December 13th, 2008 at 6:14 am, Truesoldier said:

    This is a really bad case of asking Mom after Dad said no. I really hate it when my kids try that garbage; yet this makes all their attempts pale in comparison.

  67. #570895
    On December 13th, 2008 at 7:14 am, FamilyMan said:

    I sure do miss my old constitution. I haven’t seen it for years. Some one said it ran away by itself. Others say it was stolen. I’ve heard rumors that it my be hiding in a small town in the mountains of Idaho. Who ever has it, please bring it back. It’s my most precious possession.

  68. #571130
    On December 13th, 2008 at 5:36 pm, Jeff2161 said:

    Another point…Cerberus, an investment group owns Chrysler…Does that make them eligible without a new bill?

  69. #571138
    On December 13th, 2008 at 6:32 pm, obdurate said:

    Real americans: Its time to wise up and rise up, infer from this what you wish.

  70. #571140
    On December 13th, 2008 at 6:46 pm, TomB said:

    When the President does it, that means that it is not illegal.
    - Richard M. Nixon

    Couldn’t have said it better myself.

  71. #571197
    On December 13th, 2008 at 11:13 pm, Tazed and Confused said:

    Does anyone really think that bleeping Bush gives a bleep for the bleeping TARP rules! BLEEP NO! He’s just another bleeping Dr Strangelove who is riding the financial bleeping bomb right into our weakened economy. But this time it is our entire nation that will be bleeping destroyed by that bleeping idiot cowboy.

  72. #571230
    On December 14th, 2008 at 6:14 am, tpitman said:

    Pitchfork time; it’s a comin”’…

    Yup, but this time, Harry Reid won’t smell us comin . . .

  73. #571231
    On December 14th, 2008 at 6:24 am, tpitman said:

    Since the executive and legislative branches have already acted unconstitutionally, why should breaking a law mean anything to them?

    This is what lawyers refer to as “precedent”, and is used as cover for any similar behavior which happens hence.

  74. #571285
    On December 14th, 2008 at 3:44 pm, jpm100 said:

    The rules can be circumvented or complied with depending on your perspective quite readily.

    The purpose of TARP was to get financial institutions lending again. And not just to each other.

    The $15 billion of TARP money can go to an agreeable bank who will lend the Big 3 $14.5 billion and pocket $500 million for themselves for a quick day’s work. Seems compliant with the rules to me.

    That is actually what TARP was meant to do. It wasn’t meant to for financial institutions to sit on or invest for their internal benefit.

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So, Paulson lied? He’s misled America from Day One

October 5, 2009 12:20 PM by Michelle Malkin

49 Comments | 7 Trackbacks

The Naked Emperor revisited.

Another shining example of Obama “efficiency”

September 16, 2009 10:03 AM by Michelle Malkin

95 Comments | 1 Trackback


Categories: Subprime crisis



Nice Deb

» O
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