Related Link » Barney Frank: Let's spend TARP profits before taxpayers can get themDude, where's my country? The TARP profits have been legislated to be paid towards the reduction of the public debt. Now, the Congressman who played a major role in bringing about the need for the TARP bailout is attempting to divert over $6 billion toward his own pet projects. This is a huge amount of public money to be controlled by one person for his own favorite schemes.
“Rep. Barney Frank, the chairman of the House Financial Services Committee, has come up with a proposal to spend any TARP profits before they can be returned to the taxpayers. Last Friday, Frank introduced the "TARP for Main Street Act of 2009," a bill that would take profits from the program and immediately redirect them toward housing proposals favored by Frank and some fellow Democrats. [...] Last month, the General Accountability Office (GAO) reported that, through June 12, 2009, the government had received $6.2 billion in dividend payments. The original TARP legislation required that money made from the program "shall be paid into the general fund of the Treasury for reduction of the public debt".”
— By: BYRON YORK
What is happening in this once great country of ours, when people like Barney Frank, who represents one Congressional District in the Commonwealth of Massachusetts, have acquired the power to control billions of federal dollars? Have we collectively lost all sense of proportion? Is it, finally, just every person for himself, with no consideration for the common good?
Would you buy a used car from this guy?
Post #824 The Big Grabfest
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