Obama can't walk on water, he should save the taxpayers not AIG or Goldman Sachs

In addition, The Obama Administration is putting the finishing touches on another big bank bailout. Called the Public Private Investor Partnership (PPIP), it is the brainchild of the Treasury Secretary from Wall Street, Tim Geithner. Under the plan, the government will give our money to hedge fund managers to buy "toxic" assets for more than they are worth. What's next? And when are we going to bailout the homeowners who where victims of predatory lending to the same banks we are bailing out now?

Nothing new there! A majority of voters are now saying they do not approve of the latest bailouts as long as the country is facing a recession and high unemployment. Most people do not believe that Banks will start lending as they used to. And looking at the last quarterly reports of most major banks, they haven't even after receiving Tarp money. The only thing I do agree with is that Timothy Geithner is toast. He was the wrong man for this job during a very critical time.

nothing is going to change under obama i told people this when the elections were going on and i was called a cynic. we all know he works for wall street and is just another puppet. it is sad that people actually do think that we have to bail these people out or we will all suffer. i think at the end of this people will finally see the truth that the news lies and pushes an agenda. politicians lie and push their agenda. perhaps one day there will be a revolution in america although most of us are too damn lazy to get off our fat asses and do something about it but we all know only a few people can do much, we see it in how our country is controlled and manipulated by a few. we can and we will get through this. hopefully the fed will fall and we can finally have a real economy for the people and by the people as originally intended.

We have been throwing billions of dollars at a QUADRILLION DOLLAR PROBLEM!!!
This is NUTS!
The above article is spot on. We need to re-focus on the big-picture, not an insignificant couple hundred million dollars worth of bonuses to some of the perpatrators. Don't worry about them right now-they will get whats comming to them soon enough. AIG needs to be split up like Ma Bell in the 80s. The FED needs to announce "All bets are off" concerning the Credit Default Swap 'insurance' scam.

Spot on Unclematt. They should never started the bailout, once they started to give the Tarp money there was no stopping and there is no end in sight. We all know that AIG, Goldman Sachs, Citigroup, Bank of America etc are only a handful of companies that have or will receive money, more will surface. The thinking that throwing good money at bad money is obscene! The Banks have shown that they take the good money with a smile and give it away or give back to share holders. Today's announcement only makes this even worse, now we add a Trillion <give or take a few Billions> and again, we buy Toxic assets from the banks that created them. Sure Wall street loved it with it's 500 point increase, who wouldn't when Uncle Sam keeps throwing money at you.

Same way here in Europe. Banks go out of business but our country does not buy them. Many people have bonds instead that they buy from the Country bank. Our currency is also going down slowly. I used to go to London for 2 days one time every month and use our Krona and get good rate on pounds now it is almost half the value. Sweden is not part of Euro.

Somehow he needs to begin to get some of this money to the average person. It seems all he is doing is feeding the fat cats at the top. These trillions of dollars spent and people are still not getting mortgage relief, the average American's life is getting worse, the fat cat's at the top are getting rich and laughing all the way to the bank. Mr O. better get on the ball, I see some things improving but overall it does not look like the Average person is any better off. The problem is being solved like most corporations used to solve problems, throw money at it. In this case as in many others, this approach never works, because the few at the top take all the money and run to the bank and vacations.

I totally agree Robroy, I don't believe throwing good money at bad money is the answer. Sure Wall Street loves it, they now are bailed out, they see the banks as an investment again because of the cash infusion and bailouts, case and point the 500 point rise yesterday. Why do I feel that these banks, corporations and Hedge funds are laughing at this whole thing!!? .. they made billions by running down the banks, giving bad toxic loans, bad credit, now the Feds bail them out .. It's like telling a criminal who committed a crime: "Don't worry, you fall under our bail our rule, you are released with no bail, have a nice day" You think that Criminal will hesitate to do the same crime again after that ?

I hope one day they will realize that they should have helped the people that really needed it. But once they realize that it will be to late. To many Tent Cities, to much poverty, people starving, out of work, no health care and on and on. Banks will do nothing to help that problem. Nor will AIG. If the Feds really wanted to help they would have made good on AIG's insurance plans but also collect the fee's that they collect. Let the taxpayers get the return, not the corporations.