John Stossel - where does the bailout money go to?

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

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

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.

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.

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...

"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.

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 ^^ )

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

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.

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.