April 6, 2009

LOOK WHO ELSE IS PROFITING FROM TARP FUNDS:

Warren Buffett promoted the Troubled Assets Relief Program (TARP), and lambasted the greed on Wall Street, yet he is one of the main benefactors of the TARP largesse according to a Sacramento Bee story.

Buffett endorsed Barack Obama for President last year, and Obama tapped Buffett to be a member of the candidate’s economic team. Obama requently referred to Buffett’s endorsement during the campaign as proof that he had the capability to deal with the troubled US economy.

Maybe he’s trying out for the role of Orren Boyle. Plus this:

The Obama administration has been blaming Republicans for the economic mess (and there is some culpability there too), yet the Democrats keep showing up with millions of dollars in their pockets. Senate Banking Chairman Chris Dodd received special treatment from Countrywide on his mortgage, Obama Chief of Staff Rahm Emmanuel received about $300,000 for very little work at Freddie Mac, former Clinton OMB Director Franklin Raines reaped about $90 million from [Fannie Mae] by inflating profits — and the list goes on.

But what is really troubling is the chicanery that Warren Buffett and other Democrats employ to blame eveything on Wall Street when it is Washington that is largely to blame.

Say, can we get a list of Fannie Mae / Freddie Mac bonus recipients? I mean, since Congress’s need for the AIG names was so urgent.

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