Cafferty: Should Congress Freeze the Bailout Money?

From the Cafferty File:

Republican Senator Jim Inhofe from Oklahoma wants to put a freeze on the remaining cash in the big government bailout of the financial industry. In this weeks lame duck session, Inhofe plans to push for legislation that will require Treasury Secretary Henry Paulsons plan for the remaining $350 billion in the bailout package to be voted on in Congress.

Despite promises from Congressional leaders that there would be both, there is absolutely no transparency or congressional oversight on where the first $290 billion has gone. Senator Inhofe suggests Paulson may have given the money to his friends.

Inhofe, who voted against the bailout package when it was originally passed, said in a letter to fellow lawmakers this weekend, It is Congresss duty to have a say in what happens with the remaining authorized amount of $350 billion. It is clear that it was a mistake to sign a blank check to one man for such a tremendous amount of money.

Heres my question to you: Should Congress freeze the remaining bailout money?

Category:

News & Politics

Tags:

• Jack
• Cafferty
• File
• Congress
• Freeze
• Bailout
• Money

[officialusa]

they should freeze the money and do an investigation as to how the initial $400 billion was spent.

[Morvarid06]

Does it really matter what we as the people of this country have to say? Millions called their congressmen, and state officials asking to not have the bailout signed..and what happened? Nothing, let the country go down the drain this what they want. So lets give them what they want and witness the fall this country as this congress, and corporation wishes it. Then their will nothing left and they'll go on robbing away some where else.

[1955porsche]

the usa would have been saved if bin laden crashed jetliners into the house of congress and the whitehouse,these govt criminals have destroyed a once great nation built by great people.

[infowarriorbadwolf]

If the treasury can give money away (money the fed. res. just prints - money WE THE PEOPLE must pay back WITH INTEREST) without approval or oversight from congress, then what we have is

TAXATION WITHOUT REPRESENTATION.

[infowarriorbadwolf]

If the treasury can give money away (money the fed. res. just prints - money WE THE PEOPLE must pay back WITH INTEREST) without approval or oversight from congress, then what we have is

[js2040]

I pray that we as a nation will take Gods advice for his bailout package plan, 2 Chron 7:14 "If my people whom I call by name, will humble themselves and seek my face and turn from their wicked ways, then will I hear from heaven, forgive their sins and heal their LAND".

[00Benjy00]

i liked this video :)

this video was good gQ

[eagle2sky1]

I am leaving the u.s.a so just word on the way out, its gonna be hell in 2 years here! hide yer cash liquidate and leave! find a safe country! wishing you well bye.

[FinsterFlummoxing]

You've got to love the hypocrisy!!!

Congress sits in judgment of these companies, be it Auto indurty officials, or Wall Street Execs from AIG, and complain that these companies are poorly run, and that they need oversight.

Yet, the Treasury Department has no mechanism in place to track how institutions are using $150 billion in taxpayer money that the government injected into the banking system.

Maybe we should fix our government before we fix private corporations. What do you think?

[jimjaas]

Bushies destroyed America then took the remaining money and run away.

[watsonater]

Gangsters running the united states

[jackdforrp]

Personally, I think this whole thing is nothing more than the privately owned Federal Reserve and it's cronies over at the IRS trying to save itself. Think about it, the government goes to the fed, they print the money out of thin air, the fed takes it's cut of the money, loans it to the government, government spends it and makes everyone think it has to pay taxes to pay it back. Who or what exactly is getting paid back? It was printed out of thin air which just devalued the existing money.