Washington (AP) – Timothy Geithner thinks it’s completely unfair how large businesses that were the recipient of bailout funds have emerged in much better shape than the average American.
“As the President has said, we had to do some very unpopular things,” he said. “People looked at what happened.”
“It’s not fair. It’s Deeply unfair,” he said. “He had to look whether he was going to act to fix it or stand back, and that would have been calamitous for the American economy.”
“Just because this was the worst economic crisis since the Great Depression, a huge amount of damage was done to businesses and families across the country and it’s going to take us a long time to heal the damage.”
I wonder if he feels the same way about all the corporations and banks that didn’t get the funds needed to save their skins because he was funnelling money out the back door of AIG while head of the New York Fed.
If the current administration was so overly concerned with the plight of the American People, maybe they would have used the Tarp funds to bail out the individuals now losing their homes.
Here’s an even better idea; how about taking the remaining 560 billion dollars of unallocated funds from the TARP program and apply it to small business grants and loans to do what they should have done in the first place, stimulate the backbone of our economy. Small to medium sized businesses now feeling the crunch of less revenue intake and upcoming higher taxes and fees related to the new health-care bill are the ones that are going to need our help.
I wonder if those businesses hit hardest on the lower end of the size scale have any hope of gaining assistance. After all, if you don’t actively lobby Washington, it seems you don’t get any play.
As Obama was campaigning in 2008, I seem to remember something he said over and over again about the lobby culture in Washington.
Most businesses in this country don’t have the resources to lobby in their best interests in DC. Most larger businesses, 30 years ago, had a limited number of lobbyists in Washington because they didn’t see a need.
Microsoft is a great example of how businesses seem only as interested in politics as politics is interested in them.
Before the DOJ went after Microsoft for “non-competitive practices”, they had one single lobbyist in Washington. Now they have hundreds and have become one of the largest political contributors on the Hill.
Mr. Obama has done a great job of setting up the tit-for-tat culture on Capital Hill. One only has to look at how many of his “saved and, or created” jobs have gone to union labour while the average American gets stiffed and is forced to collect unemployment benefits.
It’s pretty plain to see that the squeaky wheel gets the Obama-grease. while Congress was in recess this last week, he appointed 11 positions in his cabinet, none being vetted and most either tied to or working directly for lobby firms.
While the number of lobbyists fell by over 500 individuals in 2009, the amount of money actually spent increased to over 3.46 billion dollars.
It makes me wonder, If I had the cash to buy a ticket, could I spend the night in the Lincoln bedroom or maybe join the Obamas’ for dinner unlike a certain Prime Minister who visited last week? From what’s been shown over the last few months, it seems everyone in DC has a price.




April 10th, 2010 at 7:59 PM
Yeah, funny how those 11 appointments just happen to all get done while Congress was in recess. I don’t know about you, but I barely noticed a peep about it from the MSM.
Sirrahc
http://AViewFromTheRight.wordpress.com