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Do we really have any right to demand answers about how the bailout funds are being used?

http://www.breitbart.com/article.php?id=D95JKCI80&show_article=1&catnum=0 "The new document cited an Associated Press investigation that found none of the banks was willing to disclose what they were doing with hundreds of billions of dollars distributed through direct injections of federal money. "For Treasury to advance funds to these institutions without requiring more transparency further erodes the very confidence Treasury seeks to restore," it said. Appearing Friday on ABC's "Good Morning America," Warren said that Treasury "didn't put any tracking mechanisms on it." "They didn't tell the banks what they had to do in order to get the money. It might be used for lending, it might be used to buy other banks ... Or it might just be stuffed in vaults and left there," she said. "I think that Congress may want to take a very hard look at that question," Warren added. "Ultimately, we don't have a badge, don't have a gun. It's up to Congress." "In my view, the heart of this problem started with the housing bubble and the mortgage foreclosure mess and in my view, that's where the solution should start as well," Warren said. Most of the panel's report argues that better responses to unanswered questions are "essential" and explains why it believes Treasury's earlier responses were insufficient. "Treasury has still not explained precisely what it sees as the problem," reads one assessment of a response deemed inadequate. At several points, the report tartly explains the meanings of simple terms such as "strategy" and "oversight." Referring to a question of why Treasury has required Citigroup, but not other firms that got money, to modify mortgages, the report says: "Treasury's refusal to answer this question is one of the most troubling aspects of their letter. The panel intends to do more fact finding on this matter." Line after line of the column marked "Treasury Response" says simply, "No response." The panel repeatedly states its reluctance to take Treasury's reassurances at face value. "Treasury may be 'confident' that it is 'pursuing the right strategy to stabilize the financial system and support the flow of credit to our economy,' but once again, the function of oversight is to evaluate that claim," the report reads. "The question remains unanswered." The panel's next official action will be a public hearing next Wednesday What do you think? hamper, give any answer you like.

Public Comments

1. hmmm i personally think you are trying to prove a point rather than ask a legitimate question and seeking REAL answers. its apparent the only answers you want are the ones that agree with you. thats what i think.
2. No, slave, you have no rights.
3. Banks shouldn't have to tell you what they do with your money. Who the hell are you?
4. I'd say I delivered a bunch of pizzas and spent a lot of hours on hot, dusty movie sets tying off huge overhead rags against high winds, lifting heavy stands and other equipment while running as hard as I could so the director wouldn't blow a gasket and waiting sometimes 12 hours just to have lunch so that my tax withholding could pay for these bailouts, so I WANT TO KNOW HOW THEY'RE BEING SPENT.
5. As a human being with a fully functioning brain...YES I would say I have the right to just about anything I like.
6. You darn right. But in reality, you know that the public won't know. This whole thing is so sickening and corrupt. Obama has got a mess on his hands thanks to that group of corrupt cronies and their master on their way out.
7. I think the tax payers have the right to know what the money is being used for if they want tax payers to bail them out! Looks as though Hamper and Johnny boy don't agree with us but I shall lose no sleep over that! Hopefully there will be a watch-dog group to monitor all that!
8. This is not getting nearly enough attention. FOX Business Channel has sued the Treasury Department under the Freedom of Information Act to get all the records and they're having a tough time. NONE of the other mainstream media outlets seem to care. Breitbart is a conservative who is mad as hell about this and it's starting to get some serious traction among conservatives who hated the entire bailout to start with. This is WRONG and we are headed down the WRONG path. This is only the FIRST $350 Billion and Obama wants to spend more than $1 TRILLION more of YOUR money. PAY ATTENTION, America!!!!! We need transparency and openness. What are they doing with OUR money?????
9. Yes...but I also think we have a right to know that welfare recipients are not using government money to buy illegal narcotics. However, that is "unconstitutional" as it is discriminatory. Same situation, just more money involved.
10. Yes, we should know! The snippets I've seen have been making me madder and madder. 1. Initially, the money wasn't supposed to be used to pay salary bonuses or dividends... then we're told salary bonuses were necessary to retain staff (they should be thankful to have jobs!) and pay dividends as a necessary 'incentive' for the financial institutions to take the loans. What?? Since when did "beggars can't be choosy" change to "beggars need incentives"?? 2. Where's the transparency and oversight that was supposedly written into the bill? Why all the foot-dragging in Nov. and Dec. on the appointment of the Bailout Special Inspector? http://www.opednews.com/articles/NO-BAILOUT-OVERSIGHT--BUS-by-Allen-L-Roland-081204-386.html 3. In Nov., the Treasury Department changed Section 382 of the tax code, without congressional approval. The change did away with limitations on loss write-offs when buying 'failing' assets. Huh?? Supposedly the reason for the bailout was because the financial institutions were "too big to fail"... and they're given additional incentives to become even bigger?? http://www.washingtonpost.com/wp-dyn/content/article/2008/11/09/AR2008110902155_pf.html I called my local Representative and incumbent Senator to complain about this and ask them to do something about it. My representative's staff at least was aware of the Section 382 issue. My Senator's staff blew me off, saying they hadn't heard of it. I insisted they look it up on the internet and get back to me. They didn't. Now, my Senator has been picked for Secretary of the Interior. I'm not holding my breath for him to do anything or his named replacement who has no political experience.
11. Yes. If not, I won't pay a dime "back" for something I never got. ... And, Hamper? You don't look like a happy camper. Are you a crappy hamper? ... ...
12. You have the right to demand answers to the way public funds are being used even if they are used to bailout banks!!! You should write your Congressman and your Senators. While you are at it I think it would be a very good idea to call them too. Why don't you put this information on your local radio station, and public access TV. Why don't you go to the public hearing that is being held next Wednesday, and bring your protest sign with you so you can hold it up. Better yet get a group together and go as a group. Public hearings are supposed to be for the public to speak their mind on the issues, but you will probably have to get permission, and be put on the agenda. If you are given the opportunity to speak there will be only one spokesperson for you group!!!! Hearings that are called public hearings often are not, although the public will be admitted to the room or chamber where the public hearing is being held, sometimes it is not as open a hearing as it might be and may times probably should be called a public attendance instead of a public hearing. Be optimistic, plan ahead, take other concerned people with you if you can, and talk to the officials in charge about getting on the agenda to speak. You will probably be given about 3 minutes, but you may be allowed more time!!! Good luck on you efforts to make our government more responsive to the citizens of the United States of America!!!