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If it is wrong for companies that have taken TARP funds (these companies shall henceforth be referred to as GSE's, as in Government Sponsored Enterprises) to buy jets or to provide productivity incentives (i.e., bonuses) to their employees, then it is surely wrong for one of these GSEs to send Congressmen on a junket to St. Marten.
If only the original GSEs, Fannie Mae and Freddie Mac, were subject to as much scrutiny as the new breed of GSEs, we might not be as deep in a mess as we are now.
TARP Junket
Posted by Demian Brady - January 30, 2009Thoughts? Add Comment -
Wayne Langemach said on Jan 31 2009 at 7:55pm
The economy is in trouble in part because people don't trust the banks and the regulatory buocracy and congress. It may help to regain this confidence if the perpetrators of this fiasco were brought to justice. You know who I mean: the arrogant jerks at the Wall street banks and financial institutions, the people who packages and sold the tainted securities, the people who made bad and fraudulant loans, the heads of Fanny Mae and Freddie Mack who drove those organizations into the toilet, the regulators and buerocrats that forced lenders into risky loans, and criminals in congress (such as Chris Dodd and Barney Frank) who also helped to force the bad loans. A prison term for all of these perpetrators would go a long way to bring back the people's confidence.
Jim K said on Apr 08 2009 at 10:48am
More lavish trips from another TARP recipient! This time, one of the largest banks in the country is SPONSORING a conference in Maui! BB&T shows up on the sponsor list at next week's (April 2009)conference of the National Association of Chemical Distributors (NACD). Thanks Mr. and Mrs. Taxpayer! We'll enjoy the surf for you, since you can't afford it any more!