Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This is one of the most brazen accounts of wasteful government spending I have ever read about.
I think of the tens of millions of hard working Americans who get up every morning and go out scrounging and toiling to make ends meet for their families and it really makes me mad to then read about these 2 'lottery jackpots' awared two rich people using OUR MONEY.
But if you want to get a true sense of what the "shadow budget" is all about, all you have to do is look closely at the taxpayer money handed over to a single company that goes by a seemingly innocuous name: Waterfall TALF Opportunity. At first glance, Waterfall's haul doesn't seem all that huge — just nine loans totaling some $220 million, made through a Fed bailout program. That doesn't seem like a whole lot, considering that Goldman Sachs alone received roughly $800 billion in loans from the Fed. But upon closer inspection, Waterfall TALF Opportunity boasts a couple of interesting names among its chief investors: Christy Mack and Susan Karches.
Christy is the wife of John Mack, the chairman of Morgan Stanley. Susan is the widow of Peter Karches, a close friend of the Macks who served as president of Morgan Stanley's investment-banking division. Neither woman appears to have any serious history in business, apart from a few philanthropic experiences. Yet the Federal Reserve handed them both low-interest loans of nearly a quarter of a billion dollars through a complicated bailout program that virtually guaranteed them millions in risk-free income.
Point Blank: Our government officials do not look at the money we send to DC as sacred. They do not view their role as keepers of our treasury to be a stewardship. This wasnt a hand out to the poor, it wasnt in increase in spending to protect our soldiers. NO, this was pure greed and cooking the books in order to give over $200 MILLION to the wives of 2 Morgan Stanley bigwigs.
Last edited by 18Montclair; 04-13-2011 at 08:41 AM..
Please contact your representatives in Congress to voice your dismay over this development and ask them to call for a formal probe into the matter.
U.S. Capitol Switchboard: (202)224-3121
If we don't do something about this, it will be brushed under the rug and I think its time we removed the rug and swept all the dirt out from underneath.
This is one of the most brazen accounts of wasteful government spending I have ever read about.
I think of the tens of millions of hard working Americans who get up every morning and go out scrounging and toiling to make ends meet for their families and it really makes me mad to then read about these 2 'lottery jackpots' awared two rich people using OUR MONEY.
Point Blank: Our government officials do not look at the money we send to DC as sacred. They do not view their role as keepers of our treasury to be a stewardship. This wasnt a hand out to the poor, it wasnt in increase in spending to protect our soldiers. NO, this was pure greed and cooking the books in order to give over $200 MILLION to the wives of 2 Morgan Stanley bigwigs.
The photos of 0bama, Pelosi and Reid will be along side the definition of crony capitalism. When will the left in this country wake up and see how the people they elect to office care nothing for the common man and woman. To these politicians, its all about ways to amass power and influence, while they enrich themselves and their cronies. Why else do you think the debt and trillion dollar deficits are of no concern to them?
wow you enjoy that leftist rollingstone kool-aid much? don't believe everything you read.
Regardless of one's political stripes, I think this is worth a call to your congressional representative asking them to look into this.
Im sure that $200 Million could have been better spent on schools and health care or maybe even improving roads where YOU LIVE as opposed to lining the pocket of the super rich.
The photos of 0bama, Pelosi and Reid will be along side the definition of crony capitalism. When will the left in this country wake up and see how the people they elect to office care nothing for the common man and woman. To these politicians, its all about ways to amass power and influence, while they enrich themselves and their cronies. Why else do you think the debt and trillion dollar deficits are of no concern to them?
I agree. I would extend "Obama, Pelosi, and Reid" to damn near EVERY politician in Washington.
"But they deserve it, they will pay it back if they haven't already"
I tried to present this in the least politically biased way possible because this should offend everyone regardless as to what party they belong to.
Guess not everyone is offended after all.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
