Tag: Federal Funds

Hurry! Save The Banks!

Since the very beginning of the economic crisis and then the bailout process it has been about saving the banks, because “they are too big too fail”.  Dollar after dollar has been thrown at the banks in question and what has it accompliushed?  A damn fine question!

The Congress and all concerned are throwing this money at the banks with the hopes that it will prop up their bottom line so that they will once again start loaning money.  In essence they are trying to improve the bank’s liquidity.

Good one, guys!  But answer this–what good is liquidity if there is NO demand?  Why would banks loan to companies if no one is buying their product?

Let us take it further.  There is NO demand!  Until demand can be created banks will NOT loan money to anyone.  The only economic activity right now is between banks, because they are too big too fail.  The banks are being saved—they are NOT saving jobs–They are NOT creating jobs–they are NOT loaning–they are doing nothing.  Wait!  That is a lie!  They are investing overseas and Citi made a profit.

Profit?  Does that mean the government can expect a check?  Doubtful!

One more time!  If demand cannot be created, then liquidity means squat!

We Do Not Want Your Money

That is what several governors have told the Federal government, most of them in the South and Repubs, but why would a governor not want stimulus money to help his/her state?  Well, some say that it would put a strain on their budgets in the future.  Or maybe it is the red tape involved.  Or maybe it is because it is coming from a Democratic pres.

There has not been a definitive answer to why they do not need or want the cash…but with a little reading and research there could be an answer…..

The buzz grows surrounding the possibility of a second massive economic stimulus package, President Obama and Vice President Biden warned state officials yesterday to spend their shares of the approved $787 billion wisely – or else.

“If we see money being misspent, we’re going to put a stop to it,” Obama said at a daylong White House conference on the recovery package.

With that one statement it could explain the hesitancy of the governors to accept the cash.  It must be spent for the good of the state…not put in some “general fund” to be pissed away like so many other funds that some of the states receive.

Could it be that the governors are afraid of the word “transparency”?

I did find one thing that caught my attention.

Some state officials expressed confusion about what role they will play in passing on stimulus money to cities and towns and what reporting requirements they’ll face. They also complained that there has been a lack of communication about projects that have been announced.

This is a good possibliity, especially in my state of Mississippi, where we have the absolute worst system of record checking….another good way to piss money away …if no one can check where it goes…..

These governors are NOT acting in the best interests of their states and its people.  They are playing politics…in a tiome when politics should be the furtherest thing from their minds.

Earmarks! A Pathetic Issue!

Earmarks?  This is funds added to a build for pet projects in districts of the congressperson attaching them.  Think about that…..if so, what the hell was the recent stimulus package passed for?

The media keeps punding Obama for the spending bill he just signed.  Their main bitch is that it is full of earmarks, about 9000 or so.  Now the media is truly concerned because during the campaign Obama said he would eliminate all earmarks, at least that is what the pundits are saying.

Houston, we have a problem.  To begin with, during the presidential campaign it was Mccain who spouted the crap about eliminating earmarks.  Obama said that he would reform the earmark system and I believe that is what he is trying to do.

The truly silly part about the last bill with all the earmarks that the Repubs are so getting political mileage out of, was full of the earmarks from Repubs.  The two biggest came from the two senators from Mississippi.  Oh yeah, both are Repubs.

Repubs are just flipping pathetic and should be put on some type of hypocrisy watch.

So Much Laughable BS!

Gov. Bobby Jindal said Tuesday he had concerns about the economic stimulus package moving through Congress and wasn’t sure if Louisiana would accept all of the money that could be available from the plan.

“We’re going to look at each program, at each dollar, to see what strings are attached before we decide whether it makes sense for Louisiana to use those dollars or not,” Jindal said.

Haley Barbour of Mississippi has made similar statements….these yo-yos are just political hacks trying to look more than they really are.  Push comes to shove these dicks are gonna take the money….I say if there is an outside chance they will not then send their share to Michigan, they need all the help they can get.

All these bozos are trying to do is secure themselves a place in a dying party.  Simple theatrics is all they are about for they have no plans to meet their state fiscal shortfalls.  They will cave and ask for the cash.  If not then these guys are more stupid than I ever considered.