Democrats seek bailout restraints

retired_navy writes,

"The bailout is wrong and just a way to buy more votes for the Obama camp."

Well now, half of that worked. Except that the state's attorneys need to apply RICO statutes to recover every cent from these creeps and apply unlimited liability to their assets. Agreed?

But in part two you think that all the neocons on Wall Street (frolicking in the trough soon to be 700 billion deeper) got together with Bush to promote an Obama Presidency? Really?

Retired_Navy, I think you need to check your headings and change course, or you're heading over Niagara Falls on this one.

Kenny motown writes,

"Live and let die!"

OK, fine, that too. But first it's time to put the swindlers - all of them - behind bars..

Live and let die!

alicynx,

yes!

More control over corporations - absolutely!

Audited, publicly available financial breakdowns posted of ALL spending by these companies - absolutely!

But let's step back a bit.

Having worked in banking, let's face it, nobody this large escapes both an internal and external audit. This didn't "suddenly show up in the monthly print-outs" - it had to have been hidden.

So it's time to pass financial legislation - with real hard jail terms - with summary conviction - criminalizing audit fraud by either the auditor or the company and if they are in cahoots - they both go to the clinck!

We wouldn't be in this mess if

a/ real whistleblower protection was in place.
b/ the perps knew they faced prison not eternal wealth subsidized by taxpayers
c/ the regulators weren't pushed around by polticians [the Keating 5?] to back off when the perps bought the pols.
d/ legally binding accountability was across the board from the clerk to the CEO. And, with RICO laws, enforced appropriate jail time to convince potential offenders that there is far greater risk than benefit.

Right now (as we saw with ENRON) there is no real risk - except to consumers - and massive immediate benefit to the crooks. Instead impose Proceeds of Crime law. Steal from the public, your liability is unlimited with zero loopholes - you lose your business, your house, your car\s, your savings - you become what you have done to others - bankrupted..

If the taxpay is bailing out these corporations, its only just that their budgets and financial policies become transparent and open to manipulation by their largest shareholder - the Govt. What ought to happen is a breakdown be posted of ALL spending by these companies after their bailouts, attached to a list of addresses of anyone receiving a paycheck in excess of $250,000 (that seems to be our magic number). That way, the CEOs who are still making six to seven figures even after they've chucked the rest of their employees can be held accountable to the public. Its our job, as the public, to ensure that these CEOs understand how they've screwed us all - my suggestion is restitution through assimilation of goods and services...

nobamajon writes,

"Why 1/2 way do something. Either bail em or let em sink no DEM half measures.Like the New energy bill.Redddddickulous."

Another irate oil hostage blames the Dems for what the Repubs have done to him! [You still haven't reviewed any of those Lindsey Williams lectures have you? Good work.]

I'm inclined to agree with jahbini

"They lived by the invisible hand, let them suffer the wrath of the invisible hand."

True. Once upon a time they were always hot to claim that God was on their side.

Now, where did He go?

Let them go back into the 'invisible hand' of the economic marketplace.

Shall I, a slave to the corporations, lift a finger to keep my masters in their plantation mansions?

They lived by the invisible hand, let them suffer the wrath of the invisible hand.