John Stossel - where does the bailout money go to?

[theAbeElement]

ha! we've tried less government WHEN?? through the years government has gotten bigger and more involved, whether republican or democratic rule

[wobinga7]

Bernie Madoff is jealous of how the gov't has stolen from people

[packerfan748]

Twese qwestions awr just bwaffling!

[sixstanger00]

I don't have confidence in our financial system because its FLAWED. Atleast, when you consider whats better for all Americans. If you think like a greedy, selfish, power hungry CEO or politician, then I guess it works just fine.

[slurpeeday]

every time i watch stossel speak i want to punch him in his stupid pervy stash.

[luckyvet]

Other than stealing trillions to wage wars around the world, this is one of the biggest frauds against a country in the history of humanity.

[mathproof]

Wow! Barney Frank reacted really inappropriately. He needs to be replaced.

[BikiniBabe1985]

I love how Republicans are complaining about the deficit Obama is creating months after they voted for the bailouts that Bush began. Its time for a libertarian revolution

[OnlyAPawn1970]

So young to be so smart-Republicans and Democrats have ruined this country-Libertarians are the only voices of reason-and of course,we're the minority.

[aluisious]

@OnlyAPawn1970 Nope. Socialism is the answer. We've tried "less government" and it doesn't work, because thieves love nothing more than operating in the dark.

[jbs4life1]

contact your congressman and have them support HR 1207 the fed traparancy act

[DoomHippie]

Soooooo. Could someone make like a second US Government that could fairly compete with the first one? Or would that violate some obscure treason law that hasn't ever been implemented in the US history?

[BRYAN351]

Uh, DoomHippie, the government of a country has a monopoly on power, otherwise it would not be a government.  Only private citizens and businesses in a country compete with one another, because they don't have a monopoly on anything.

[DoomHippie]

But what I'm saying is why does it have to be a monopoly? Could Free Market principles make Governing bodies less corrupt and wasteful?

[BRYAN351]

Doom, in certain ways, a government has to have a monopoly, otherwise they have no authority. If people could pick and choose which laws to obey, or which government to pay taxes too, then neither government has control, and hence aren't a government.

But, free market principles can be used when it comes to private companies bidding on government contracts, with the bidder offering the best value for the money being the winner.

Usually, govt. & the free market are at odds with each other.

[DoomHippie]

Ah, but Laws are meant to protect people, so those committing agressive acts against citizens of one Gov would be arrested by their victem's Gov, not by their own.

The gov doesn't have to be a monopoly, it's just been that way for a very long time, so people assume we need it. Also, as History has shown over and over again, a government, no matter how small it starts, always slides twards the political left. It happened in Rome, and now it happens again in the US.

[BRYAN351]

I certainly won't argue with that last point you made, but that is what the Constitution was constructed to protect us from, the growth and corruption of government.

We desperately need to return to a world where we FORCE our politicians to obey the Constitution. That would solve almost all of our current problems.

So, what are you advocating, many small governments scattered across the USA? We already have that. They're called city, county, and state governments.

[chorkybrenner]

So the government said "Oh these bailouts were such a disaster and they didn't work!!" and now in 09 what's their solution? "Hey let's do it again!"

[maya00modeling]

My god. What kind of financial hell awaits us and our descendents when the trillion dollar secret is revealed? Oh well. If anybody needs me I'll be at the local gunshop stocking up on necessities.

*cocks gun*

[kikkoman1231]

at least i know what maggie gyllenhaal will look like when she gets older

[bobdavis73]

It's time for some people to be put on trial for fraud.

[jjcarlso]

barney frank is a tard!

[dinfg6]

Madoff is running with the bailout money

[DrReaper]

It's obviously an evil mastermind blackmailing the United States. That or the IMF is calling its due on us before the coming collapse.

[steampunk18]

Why the fuck does Barney Frank babbled and mumble like a fucking baby!?

Sorry, Barn.

[quuaa1]

"YEAH" LMAO

[mattgeb84]

i HATE barney fucking frank

[bsm1030]

you would think there would be more protest. most people don't like the job that congress is doing, and yet we keep reelecting the same corrupt and inneffective idiots year after year. wtf. these politicians seem to think that money grows on trees and that there is no such thing as running out of funds. a bit like a kid with his dad's credit card.

[greenghost2008]

there probably isnt much protests becasue most of the protesteros in teh country are leftists and leftist love this kind of BS. conservatives need to be more active.

[rjl121346]

Where is the public outrage? This should incite a taxpayer revolt. Our country is being bankrupted and where is the public protest?

[kikkoman1231]

Because OBAMA IS GOING TO CHANGE EVERYTHING!! YAYYYYY [/sarcasm]

People are reserving judgment. Not me. Fuck government intervention. Free market capitalism will always rule over planned economies and the nationalization of banks.

You can blow that up Pelosi's ass as well. What a dummy she is!

[dwilliamsamh]

So... it wasn't free market capitolism, with it's unregulated ability to loan money at 70:1, and unchecked bets in the form of CDS's, that were in HUGE part responsible for this mess? It's just a coincidence that the repeal of Glass-Stiegel preceded this worst recession since the depression. BTW, Glass-Stiegle, was disigned specifically to prevent what the investment banks and insurance companies (ie AIG-Goldman/Sachs) did.

[jetboyJ22]

The amount of subprime loans was already increasing rapidly before Glass-Steagal was repealled.

Subprime mortgages amounted to 5% of total originations in 1994, 9% in 1996, $160 billion (13%) in 1999, and $600 billion (20%) in 2006.

Glass-Steagal was repealled in 1999, well after the trend seen above was established.

Of course, the gov began giving tax incentives to companies that would take on risky loans in in 1995, which just might explain it...

[Questfortruth86]

"So... it wasn't free market capitolism, with it's unregulated ability to loan money at 70:1"

One giant contradiction.

"that the repeal of Glass-Stiegel preceded this worst recession since the depression."

If only one example of deregulation, which occurred under Clinton, was enough to cause a massive international economic calamity; all of our lives would be that much simpler.

If people wish to speak about economics, they should learn about economics.

[Moragauth]

Agreed. As if regulating interest rates and expanding credit beyond belief is not the actual fuel for the current fire, no, it must be "deregulation", and if there is a free market in something - ANYWHERE in the world, no matter how tiny - it is to blame for everything (parodying socialist mentality ^^ )

[cw2992]

let me guess 5 star hotels, prostitutes and yahts