TARP recipients using your taxes to bid up oil (debt, companies, interest)

[floridasandy]

JPMorgan Hires Supertanker for Storage, Brokers Say (Update3) - Bloomberg.com

[HappyTexan]

Citi has their own tanker as well. That was uncovered last summer with the high oil prices.
I guess they have to if they play commodities and end up taking delivery.

[floridasandy]

it's great to know that our tax dollars bail out these companies who then rent supertankers and sit on the oil, waiting for the price to go up. if that was going to happen, our government should have just bought the oil cheap and sat on it, instead of giving the money to a wall street firm to utilize to their own advantage.

[treasurekidd]

Well, write to your congressman about it, because the government happens to be Citi's largest shareholder!

[HappyTexan]

Originally Posted by treasurekidd

Well, write to your congressman about it, because the government happens to be Citi's largest shareholder!

I email my Congressman all the time and each time I get the exact same "canned response" on how he's working hard to make my life better.

[lchoro]

Primarily being used to mark up stocks and debt so banks can raise cash with shelf offerings.
Banks increasingly relying on trading profits for their operating earnings.

[treasurekidd]

I email my Congressman all the time and each time I get the exact same "canned response" on how he's working hard to make my life better.

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!! We must have the same Congressman, because I get the same crap. I have the most unfortunate privledge of being represented by Patrick Kennedy, who is so very busy making my life better in between his stints in rehab.

[HappyTexan]

Originally Posted by treasurekidd

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!! We must have the same Congressman, because I get the same crap. I have the most unfortunate privledge of being represented by Patrick Kennedy, who is so very busy making my life better in between his stints in rehab.

OMG..so sorry. He probably has his email on auto-response seeing they only pull him out of rehab to get that extra vote in

[floridasandy]

you are doing better than me. i stopped getting any responses from my congressman, canned or otherwise.

it is interesting to look at the treasury page. http://www.treasurydirect.gov/govt/r...opds082009.prn

they are getting close to their congressional "limit" on debt. RUT ROW!

Total Public Debt Subject to Limit............................................. ......... 11,755,205
Statutory Debt Limit 5................................................. .................... 12,104,000
Balance of Statutory Debt Limit............................................. ................ 348,795

[HappyTexan]

I read the government is spending $30 billion per week. That's some mighty big weekly allowance we give them isn't it ??