Audit: Bailout Oversight Woefully Lacking

GAO Report Says There's No Way Of Knowing How Bailed Out Banks Are Spending Taxpayer Money

(AP)  The government must toughen its monitoring of the $700 billion financial bailout to ensure that banking institutions limit their top executives' pay and comply with other restrictions, federal auditors said Tuesday in the first comprehensive review of the rescue package.

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 as of last month, the Government Accountability Office concluded in its report to Congress.

The auditors acknowledged that the program, created Oct. 3 to help stabilize a rapidly faltering banking system, was less than 60 days old and has been adjusting to an evolving mission.

But the 72-page report was bound to feed congressional concern that banks and other institutions are not being properly monitored and are not using the money to increase lending.

Meanwhile, the Federal Reserve said it was extending the life of lending programs aimed at smashing through credit clogs and restoring stability to financial markets. The Fed said the programs, originally slated to last through Jan. 30, would be extended through April 30 "in light of continuing strains in financial markets."

On Wall Street, the Dow Jones industrials rose 270 points, making at least a dent in Monday's huge drop of nearly 680.

As for the bailout plan, auditors specifically cited weaknesses in determining whether institutions that received bailout money are complying with limitations on executive compensation and dividend payments. For instance, some top executives at institutions that receive rescue funds must repay any incentives or bonus pay that was based on inaccurate financial statements.

"Treasury has not yet determined how it will monitor compliance with this or other requirements such as limitations on dividend payments and stock repurchases," the report states.

Auditors recommended that Treasury work with government bank regulators to determine whether the activities of financial institutions that receive the money are meeting their purpose.

In a response to the GAO, Neel Kashkari, who heads the department's Office of Financial Stability, said the agency was developing its own compliance program and indicated that it disagreed with the need to work with regulators.

"The GAO's discouraging report makes clear that the Treasury Department's implementation of the (rescue plan) is insufficiently transparent and is not accountable to American taxpayers," said House Speaker Nancy Pelosi, D-Calif.

So far, the government has pledged to pour $250 billion into banks in return for partial ownership. It also has agreed to provide $40 billion to troubled insurer American International Group. In addition, $20 billion of the money was invested in Citigroup and another $20 billion went to the Federal Reserve to help ease credit stresses.

Initially, Treasury Secretary Henry Paulson said the money would be used to buy distressed mortgage-related securities from banks. His switch in strategy drew criticism from lawmakers as a confusing mix of messages to the public and investors.

Responding to criticism, federal regulators urged banks to use the money they receive from the bailout to bolster lending. The advice, however, isn't legally binding.

The GAO is one of three watchdogs that Congress has assigned to monitor the dispensation of the extraordinary $700 billion financial rescue package, known as the Troubled Asset Relief Program, or TARP. A congressional oversight panel is scheduled to issue its report on Dec. 10. In addition, Congress created an office of inspector general to oversee the program, but the appointment to the post has been anonymously blocked in the Senate.

Senate Finance Committee chairman Max Baucus used the GAO report as an opportunity to demand the confirmation of veteran federal prosecutor Neil M. Barofsky to the inspector general's job. An anonymous Republican senator has placed a hold on his confirmation.

"This report proves the immediate need for oversight of the taxpayer dollars being expended right now as part of TARP," Baucus said in a statement. "Because of one senator's anonymous block on this nomination, three weeks have been lost — a key element of the TARP oversight program is not in place."

Senators are allowed to single-handedly block nominations. They have six days during which Congress is in session to reveal their holds. But those six days have not elapsed since the hold on Barofsky occurred.

Of the senators who attended Barofsky's confirmation hearing on Nov. 19, only Sen. Jim Bunning, R-Ky., who opposed the bailout plan itself, voiced reservations about the nomination.

"Ultimately, I believe Mr. Barofsky, with his impressive legal skills, can serve the public far better in the Southern District of New York, where he can continue to prosecute mortgage fraud," Bunning said at the time.

Bunning spokesman Mike Reynard would not comment on whether Bunning had placed the hold. He noted that the senator has co-sponsored legislation that would give the inspector general greater oversight authority.

[cariboubarbi]

HOW DID WE GO FROM BEING THE RICHEST NATION IN THE WORLD TO THE MOST INDEBTED NATION IN THE WORLD?


A: TRICKLE DOWN ECONOMICS

[ludvig1-2009]

I''m a retired Federal Nuclear Engineer that got caught up the the base closure scenario. In the priority placement program. One Nuclear Engineering job opened up that I know about, but it was offered to one of the other 500 Nuclear Engineers from Mare Island and Charleston Shipyards being closed. Priority placement says you only qualify for the job you did and nothing else. My pension today is $28,000 a year out of which I pay for a portion of my health insurance along with taxes being withheld. For comparison with state (California where I live) and local workers, the police chief here just retired with a pension of $145,000 a year, whose main function when he worked as far as I was concerned was to make sure cops took pictures of characters like me riding bikes down the street and put decoy cars in my path when I went out for a walk, and scaring the locals by making statements in the paper like "People are walking down the street to steal your cars." Today while walking down the street, this woman on the other side of the street, I suppose afraid I was going to carjack her quickly put her baby on her lap and drove off. I guess he did more than an adequate job of scaring people.

[ludvig1-2009]

Oh and I''ve never owned a foreign made car unless you count the Chevy Chevette that was made in Canada.

[jntlw-2009]

Big Surprise. The Bush cabal had zero oversight for the malfeasant misspending of billions of dollars for the Iraq war, so it would not come as a surprise that this bailout - which originally wanted no oversight - hasn''t managed to have any yet. Priorities you know - oversight of themselves is not important. But watching every move the American people make via illegal surveillance is their priority. Very screwed up administration - very openly corrupt one too. Bush and friends really need to do jail time for the unbelievable orchestrated corruption over the last 8 years. Congress and the Senate were complicit as far as I am concerned, as they did nothing to reign in an outlaw regime.

[homespunlady]

Got to thinking that all the warning rants I posted coming to pass is a REALLY big backhanded compliment. I get to say I told you so but nobody will believe me now anymore than they believed me before the feces hit the fan.

They finally acknowledged they''ve been hiding the fact this financial titanic "officially" started to sink Dec 2007. Sure took them long enough.

Now with echos of my words ringing on the news like Christmas bells; I''m driven to turn the danged thing off and retreat into my own dreary quiet "holiday season".

There''s much more to come with plenty of unpleasantness but now is not the time to mention what may be.

Let the naive and children have one more dream and a bit of happiness if it can be found before facing grim reality.

If we close our eyes and wish real hard, click our heels and repeat sincerely maybe it will magically happen. Now repeat after me - there''s no place like home, there''s no place like home....

P.S. Happy Holidays

[earache4]

How exactly did they come up with the $700 Billion figure again?

[trillion1]

Who is this news to? paulson is political hack who''es only job was to steer as much of this money as possible to reward the people who caused the problem.

[steamed2]

Frankly, the only thing I''m amazed at regarding the so-called ''financial crisis'' is that taxpayers still haven''t organized a honest-to-god march on Congress. As a retired financial crimes investigator I can only laugh at the ''revelation'' that they failed to put any oversight in how the ''bailout'' money was being used! Paulson originally tried to have it written into the first version of the bailout law that his decisions for use of the money couldn''t be reviewed by any court of law or any administrative agency, and no one wondered why? The version that finally DID pass was just as devoid of any real oversight and now it''s clear Henry Paulson lied like a thief concerning both his intentions with the money AND what the banks would do with it once it was received, which is NOTHING! Just how apathetic and stupid is this country? What will it take to wake taxpayers up? Take a minute to check out http://www.peak.org/~LW584

[clovisbuford]

They finally acknowledged they''''ve been hiding the fact this financial titanic "officially" started to sink Dec 2007. Sure took them long enough."Posted by homespunlady at 06:30 PM : Dec 02, 2008
Not only that internal documents shows it was the Bush government watch agencies that killed plans to tighten financial requiremnets according to an AP story quoted on this site yesterday . You add the fact that Paulsen is engaged in a no strings give away to an industry that paid him over a 100 million dollars , you have to ask yourself whose side are these people on . The congress is going to have to step in and hold these people accountable , just don''t count on it till the new admin steps in.If they don''t it might be time to hit the streets, I Don''t care which party it is if you sit idly by while the tax payer gets screwwed then you are part of the problem .One would hope at some point the federal investigations get rolling and the perp walks start .

[jowand]

Congress was tasked with setting up an oversight committee, so far there are only 2 members on it Paulsen and Baranke.
Congress allowed Paulsen to hand out money and not have to tell how much, when and who got it.
Congress pushed oil prices up sky high in the US by constricting domestic production which hurt the American auto makers badly.
Congress caused further problems for the American auto industry by threatening to legislate the electric car fiasco.
Congress got involved with the mortgage business in order for dead beats to get mortgages by lying on applications, with no required checks and balances to verify applications.
Everytime Congress, doesn''t matter which party, gets involved interfering with the private sector things go south.
These are the same collection of generational lying idiots who have all but Social Security down the sewer.
Yet we keep putting these same lying con artists back into office year after year, several for over 30 years one at 40 years and one at 50 years in office.

[jowand]

The Bush administration.

Posted by demswin08 at 06:14 PM : Dec 02, 2008

Congress authorizes and spends the money, always been that way doesn''t matter which party is running things.
Congress was the one that authorized the 700 billion with no rules, just business as usual.

[yeswedid]

Frankly, the only thing I''''m amazed at regarding the so-called ''''financial crisis'''' is that taxpayers still haven''''t organized a honest-to-god march on Congress--Steamed2
------------------------------------------------
I totally agree!!!! Where is everyone?! This article does not surprise me one bit; just a slight oversight my arse. HOW MUCH MORE B.S. CAN WE BE FED?

[yeswedid]

And now we are going to just dole out another $18 billion to the auto industry, with I''m sure as much ''oversight''. How about they just doled out the measly $100,000 it took for me to save my house from foreclosure, like millions of other Americans. This is just an unfathomable travisty.

[jediservant]

Can you say "Tax Revolt"?

[likenoone-2009]

Depression keep printing

[clovisbuford]

Congress pushed oil prices up sky high in the US by constricting domestic production which hurt the American auto makers badly.
Congress caused further problems for the American auto industry by threatening to legislate the electric car fiasco.
Congress got involved with the mortgage business in order for dead beats to get mortgages by lying on applications, with no required checks and balances to verify applications.
Everytime Congress, doesn''''t matter which party, gets involved interfering with the private sector things go south.
Posted by jowand at 08:06 PM : Dec 02, 2008
err reality has no basis in your world . lets talk commoditities markets , the stock ,market tanks , hedge funds retract , the inveastments firms retract , and the commoddities markets , oil falls 75% .. oil demand fall that low? ..copper goes from 4.50 a lb to 1.20 .. demand fall 2/3 .. hell no .. speculative money left the market .whats your answer its obvious its not a free market or transparent that is manipulated by the wealthy and not subject to oversight ..its congress''s fault , you keep calling government the problem , and they are ,lack of oversight is a problem . congress passing laws benefitting them without oversight is a problem, you seem not to see that , jowand ..

[clovisbuford]

Congress authorizes and spends the money, always been that way doesn''''t matter which party is running things.
Congress was the one that authorized the 700 billion with no rules, just business as usual
Posted by jowand at 08:14 PM : Dec 02, 2008 merr actuallly congress balked at that , both parties . as did the american people , the GAO just said the government (bush secretary pasulsen was ignoring it ) jowansd it is a bush appointee , pushing this (paulson, in charge) .. let us know when they bear an ounce of responsibility , from the "personal responsibility " party ,your president is in charge till 1/20/09 , your treasury secretary cutting the agreements . step up jowand take personal responsibility .

[alphaa10000]

In September, Paulson and Bush told Congress, essentially, this is OUR plan for recovery-- take it, or face another great American depression.

Congress was stampeded by constituent and Wall Street investor fears about further bank failures and a domino effect through the economy. They were correct to fear that result, though the Bush/Paulson plan offered no real remedies, only the familiar palliatives of "throwing federal money at social problems"-- this time, at massive social problems in the greed-ridden, criminal reaches of Wall Street.

Paulson and Bush aid to Wall Street is the equivalent of a night auditor coming in to report, "I came up a little short yesterday". How short? "Well, let''s just say, I don''t know, but I am sure a few hundred will help... for now."

Meanwhile, the millions of homeowners facing foreclosure-- which the money was supposed to help-- are getting nothing but trickledown.

Like the rest of us.

[clovisbuford]

Congress pushed oil prices up sky high in the US by constricting domestic production which hurt the American auto makers badly.
Congress caused further problems for the American auto industry by threatening to legislate the electric car fiasco.by jowand at 08:06 PM : Dec 02, 2008 really you should put some google fu on these statements ,or wikki kwando. and seriously ask yourself if you are that delusioinal .

[tincup356]

Economic disaster has been brought on by a massive attack on the middle class,,,,by white collar ,suit and tie terrorists,loyal to the lobby dollar and traitors to the people that elected them...our Congress.You would think they would want to keep 20 million middle class Americans a little happier,,but look at what they are losing.401k''s,homes,jobs,and for many years now , not represented by the people they voted into office.With 80,000 Americans being foreclosed on each month, it wont take long before we have a homeless problem greater than anyone could imagine.Congress simply does not care, either party.Start playing the Beatles "say ya wanna a revolution".

[ozarkbard]

NO BAILOUTS! LET THEM FALL!

[krisd999-2009]

Taking our taxes just to lend it back to us at interest!. Sounds like a criminal scam at the highest levels of government. We need tar and feathers for our "representatives".

[buckscc]

Only in America! - Part One

Excuse me, but I had an accident last year and have been in a comma since then. I just came out of the comma today.

Lets see, we need all those millions of low wage workers who are crossing our boarders to take those jobs that American citizens don%u2019t want to do (thinks they are too good to do). These lovable illegal workers are willing to work in the construction industry at a low pay (compared to the American Union Worker) in order to save the poor underpaid developers money so they can build more expensive eloquent ($250,000+) houses at a lower cost. (The affordable housing ($100,000) designs is being tossed out the window because the profits for building them are not as high as for building the high priced executive homes and no American wants to live in an affordable home anymore.)

Mean while the opportunity for investors to buy a house and flip (resell it for a high profit after investing only a few thousands of dollars in improvements) it within a few days is an every day pastime for even the average person.

[buckscc]

Only in America! Part Two

No longer does a poor low wageworker have to live in an affordable ($100,000) house when they can now live in an eloquent ($250,000+) house (thank god for the illegal workers and the friendly people at the local Finance Companies). Now, when your neighbor (the Jones) buys and moves into an expensive eloquent home, you can too. We all can %u201CMove On Up!%u201D We are Americans and we deserve it!

Nobody wants to be known that they live in an affordable home (like they grew up in) anymore. This is American for Gods sake! We are better than that!

Now young newlyweds with a child on the way don%u2019t have to settle for a %u201CStarter Home%u201D like their parents bought whey were young. This is American for Gods sake! We are better than that!

The demand for the expensive eloquent ($250,000 ) homes are at a high while the supply for expensive eloquent homes are low. So our poor underpaid developers are meeting the demands of the American citizens buy building more and more expensive eloquent ($250,000) homes. Why, this is America, where everyone can have the American Dream (without worrying about having to pay for it).

Only in America!

[ramos937]

I am confused. About $350 billion has been disbursed to the banks for lending purposes but this has not occured. The big 3 need to restructure their loans and more funds. Yet the banks remain above the fray.
Why not tell the banks either make these loans or give the money back?

[grandesign]

"But the 72-page report was bound to feed congressional concern that banks and other institutions are not being properly monitored and are not using the money to increase lending."

Can''t we just trust them? They haven''t lied to us lately have they?

[grandesign]

The demand for the expensive eloquent ($250,000 ) homes are at a high while the supply for expensive eloquent homes are low.
Posted by buckscc at 02:24 AM : Dec 03, 2008

In Los Angeles, $250K won''t buy you anything eloquent. I won''t even buy you half a condo.

[grandesign]

Excuse me, but I had an accident last year and have been in a comma since then. I just came out of the comma today.
Posted by BuckSCC at 02:20 AM : Dec 03, 2008

,,,,,,,,, ,,,,,,, ,,,,,, watch out, those commas can me deadly.

Just don''t go into a coma.

[excoachken]

Oversight: Nothing Bush ever worried about in the past, so why would you think he would be concerned now?

[inketolstoy]

"Excuse me, but I had an accident last year and have been in a comma since then. I just came out of the comma today."

Welcome back. Though if I were you , this isn''t were I would spend my first day out of a coma. I''d probably put a steak on the grill, read a newspaper and make a (short) list of how the world has changed in the past year.

[bjcone8559]

Excuse me, but I had an accident last year and have been in a comma since then. I just came out of the comma today.
Posted by BuckSCC at 02:20 AM : Dec 03, 2008

,,,,,,,,, ,,,,,,, ,,,,,, watch out, those commas can me deadly.


Posted by Grandesign



Yep... my last one almost ended my sentence.

[excoachken]

I''d like, to make, a comment, on the comma coma, outbreak that, has recently occurred, but, I have run out, of ,,,,,,,,s.

[antoniof123]

Well, George another fine mess you have made man I am hoping this country can last another 2 months.

[bailthisout]

I doubt the automakers and workers can get the bail out and go back to business as normal. This is what we get when we put a crack head in charge of the country for 8 years. Bush should be tried. He doesnt even have remorse. Fake wars, unchecked hedge funds and speculation with workers 401k money, no state or federal tax on corporations, union busting. The Stock Market Crash of 2008 is the result of oppression and class warfare. It was fueled by Republican Greed.
-------------------------------------
Posted by sockpuppet4

Another idiotic blamer - state exactly why George W Bush should be tried? Of course these wayward mother fakers have no real issues - just more complaining from the bleachers. Hilarious.

[mikezembill]

Its time for the people that got the money to say what they did with the money or face jail time end of story.

[goosfraba2]

I didn''t read this article because this whole affair sickens me to no end. Once again, our government leaders prove to be inept and stupid. They''ve got a fox (Paulson) protecting the hen house (taxpayers'' $700B to undeserving financial institutions) with no oversight/control over the use of OUR money. Will those of us in the Middle Class EVER get a break?! We have a white knight coming on January 20th, 2009. We can only hope that He and His team can pull off a set of miracles.

[ozarkbard]

NO BAILOUTS! LET THEM FALL!

[mikezembill]

Bush did the same thing with he war rush,rush,rush and the American people fall for it again with the bailout.

[hoomyaj]

To all Bush lovers... jump off a cliff b/c your dear leader is going out of power. I can''t stand watching Bush''s deer in headlight face on tv.

[mikezembill]

The checks for the poor along with food cards and health cards will end at the start of next year sometime in the first quarter of the year.

[tngreen]

"My goal is to cut government in half in twenty-five years,to get it down to the size where we can drown it in the bathtub." --Grover Norquist, Bush strategist

This is nothing more than the Bush Administration''s last-ditch effort to bankrupt the U.S. Treasury while they still have time to do it. Between the cost of war and the rebuilding of Iraq, no-bid contracts and the like, they''ve done a pretty good job, but as long as we still have credit somewhere in the world, they must have figured their job wasn''t done. I''d say the automakers'' bailout pretty much gets us to the bathtub-drownable point. You can stop now, guys.

[habu99-2009]

No, no, no! Regulation and oversight are liberal concepts...just because it''s our money (and a lot of it) doesn''t mean we should demand to know how it''s spent...let the failed institutions and their overcompensated CEOs regulate themselves...they know what''s best for all of us...

They should call this misguided abortion of a plan by Bu$h and his criminal cohorts No Banker Left Behind.

[papabc]

Bailout Plan?
Was there are plan?
I did not see on stinking plan.

Only a free give away to those that caused this mess in the first place.

[papabc]

We have a white knight coming on January 20th, 2009. We can only hope that He and His team can pull off a set of miracles.
==========

Did the democrats put this package together? They in charge of congress. Give me a break.

[doctxt]

EQUATION OF THE DAY:
FED LENDS OUR $ TO BANKS FOR 1% (PLUS) WE BORROW FROM BANKS @ 10 TO 20% (PLUS) 8% TAXES (EQUALS) WE FOREVER LOSE (PLUS) FED & BANKS WIN (MINUS) TRUTH (EQUALS) DEPRESSION (TIMES) MORE LIES (EQUALS) POLITICIANS (PLUS) INVESTORS (DIVIDED BY) GREED (MINUS) LAW (MINUS) GOD (EQUALS) REVOLUTION!!!

EQUATION EXPLAINED:
10 YEARS AGO PEOPLE HAD TO CHOOSE-MORTGAGE PAYMENTS OR GAS FOR CARS. THEY CHOSE GAS-MORTGAGE INDUSRTY CRUMBLED-FED SAYS FAULTY PAPER AGREEMENT BETWEEN BANKS AND INVESTORS CAUSED IT-HIGHLY PAID FEDERAL ECONOMIC GURUS LOOKED THE OTHER WAY-OIL COMPANIES REAPED $60 TO $80 MILLION A YEAR (TIMES) 10 YEARS = $800 MILLION (ONE COMPANY ALONE)-%u201CFAILOUT PLAN%u201D IS NOT ENOUGH%u2026 FORESIGHT IS AS GOOD AS HINDSIGHT-HAVE CONFIDENCE, THE PEOPLE WILL PAY FOR IT.

FAILOUT PLAN WAS TO BAIL OUT ILLEGAL IMMIGRANTS WHO BOUGHT AMERICAN SOIL VIA FANNIE AND FREDDIE-THEY GOT BAILED OUT FIRST-PLAN NOT WORKING FOR ANYONE ELSE. AFTER GOV%u2019T APPROVAL & MAE, MAC BAILOUT - GURUS CHANGE- WANT TO INVEST IN BANKS & INDUSTRY INSTEAD OF HELPING PEOPLE.

ABORTION IS OK-BILL IS ON FUTURE GENERATIONS THAT WILL BE KILLED, AND THEY ROB THE RETIREMENT EGGS OF US ALL.

THIS IS WHY WE HAVE AN ELECTORAL REVOLUTION-PEOPLE WANT CHANGE-WILL IT COME FROM POLITICIANS WHO ADMITTEDLY CREATED IT?

FREE MARKET ECONOMY-PRIVATIZE GAINS-SOCALIZE LOSSES!!!

NO NEW REGULATIONS!-THROW MONEY AT IT!-BANKRUPT AMERICA-MAKE WAY FOR THE AMERO!!!

THIS IS A BALANCED BUDGET-FOR THE GREEDY!

[indianaman13]

Banks and other financial institutions are not going to use the money to lend to the common person simply because of Deflation right now. The value of everything the banks and financial institutions are holding is dropping and they are going to hold onto the money for as long as possible; ever hear the corporate saying,"Money looks better in my account than yours.". That is why corporations want your money as soon, if not sooner, than when its due, but if they owe you money, good luck getting it on time, if at all. These executives have no care or concern for the public, they are in their line of work for money, and nothing but money and what it brings. Business ethics is a joke simply because greedy souls steal from good hearts, they always have, they always will, and we are in a day and age with technology that we can be rid of these Hitlers in bankers clothing. They are killing us physically yet, but financially they are commiting genocide against the poor, no different than what Hitler did to the Jews in the gas chambers. The banks are just using inflation to keep them rich and you almost money dead.

[lochlan-2009]

GAO Report Says There''s No Way Of Knowing How Bailed Out Banks Are Spending Taxpayer Money"

They aren''t spending it. They are stealing it, stashing it, bribing politicians for additional money to steal with it. $5Trillion, (the amount we tax payers have paid for this bailout of the banks) is enough money to make every single person in the least populated seven states, (N.Dakota, S.Dakota, Montana, Wyoming, Vermont, Alaska, and Delaware) all millionaires. What kind of stimulus plan do you think that would have been? 1 in 60 people in this country gets a million $$$$.

[tincup356]

Are the American people really as stupid as congress would have you to think?Its hard to believe that any of the incumbents voting for the bailout were re elected.It simply makes me sick to see the lying jerks tell us they needed the money in the first place to do something so urgent,so 6 weeks have passed and what have they done? well basically,nothing but give money to banks so they can unfreeze credit lines right?....so tell me ....where is this supposed to help out thousands of people losing their homes?How , if the banks aren''t loaning money , do they expect that money to get into the economy?They need to look at the economy like a hydraulic system, if oil is not in all the system it wont work, and no money to any part of the system means airlock and the system wont work.If you fill a bucket with water , you have to start filling from the bottom and let it fill to the top, same way with money, its real simple folks.So dumping billions at the top will never get down to the bottom so it seems to me as if this is being very well planned to eliminate some people from the wealth pie,,,,namely the middle class.Right now the middle class is suffering a terrorist attack,by white collar , suit and tie terrorists who have offices on capitol hill.

[clovisbuford]

My goal is to cut government in half in twenty-five years,to get it down to the size where we can drown it in the bathtub." --Grover Norquist, Bush strategist" this paragon of fiscal responsibility is the one who laundered all of abrammof payments to ralph Reed of the christian through his foundation so his supporters would not know it came from the Indian casinos .. sweet work if you cna get it ,take in 250 grand at a time keep 75 , pass the rest on . More of that "moral majority" on the right . Mr Norquist laundered the money through . "Americnas for Tax reform" what a patriot , and the fundamental christians on the right are too slow to pick up on it to this day . His contacts include Rove , cheney etc.Gambling money considered blood money by most fundamental christians flowed through him like water.

[tincup356]

Its frickin time to march on Washington and take our country back from these greedy terrorists that control Washington.