http://news.yahoo.com/s/ap/20090129/ap_on_go_pr_wh/obama_bonuses

As you remember, former President Bush Jr. crammed this turkey down our throats last year.

Little wonder that these swine got fat bonuses from taxpayers' money.

why can't we fine the individuals who contributed to the financial disaster and force them to contribute the say last 10 years worth of bonuses to a fund like a windfall tax to alleviate the burden they created?

10 x $18B = $180B or about 1/4 of the bailout.



write your representatives - let's get our money back!

Yeah, thanks alot idiot Bush. I'm sure those people really needed the money didn't they?



Those people need to give that money back. To me they should be prosecuted for taking that money as bonuses.

Too bad Obama didn't have enough sense to vote against the bailout instead of for it.

Originally the Tarp money was allocated by Congress to buy up "toxic mortgages". Toxic mortgages being those already in default plus delinquent mortgages where default maybe could be prevented with loan adjustment of some kind. Their was so much criticism of the plan it was changed to "inject" capital into banks.
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http://www.washingtonpost.com/wp-dyn/content/article/2008/10/13/AR2008101300184_pf.html

Among the first to push the idea of injecting money into banks in exchange for an equity stake was Rep. Spencer Bachus (R-Ala.), who proposed the idea at a Sept. 18 night meeting on Capitol Hill that included legislators as well as Paulson and Federal Reserve Chairman Ben S. Bernanke.

After Paulson described his plan for the Treasury to buy up mortgage backed securities, Bachus suggested there were certainly other ways to address the crisis. "There has to be alternatives," he recalled telling the group, in an account that is consistent with accounts of others who were present at the meeting. "Why not inject capital into the institutions?"

At the meeting, Rep. Barney Frank (D-Mass.) and Sen. Jack Reed (D-R.I.) expressed support for the idea, according to people at the meeting.
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And now 18 billion of that capital injection went for bonuses.
So guess what? Obama and Geitner will now more than likely use a plan similar to the original Paulson plan. A so called "bad bank" may be established to hold the toxic mortgages. Focus will be on preventable foreclosures by loan adjustments.

Congress approved the bailout and guess who controlled the majority in Congress at the time? It seems there is quite literally NOTHING in the world people aren't willing to blame President GWB (he's not a Jr.) for.

-Drew