finance committee

Elizabeth warren congressional oversight panel... that is the Hearing I just posted.

She called the TARP money a Subsidy and Treasury disagreed with her.

Lets define Subsidy:

: a grant or gift of money: as a: a sum of money formerly granted by the British Parliament to the crown and raised by special taxation b: money granted by one state to another c: a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public

Let us define Grant

2: to bestow or transfer formally <grant a scholarship to a student> ; specifically : to give the possession or title of by a deed

So... Is it a Gift...???

There also is this sense in the hearings that It's unfair that all the help goes to the big firms... and yet... if the financial industry needs help or there are some programs to help an industry... Is it reasonable that My local bank gets the same amount in dollars as one of the biggest 20 firms in the country? It's obvious that the big firms will get the most help...

Again, it's interesting that somehow they think that 3 billion that was given to a bank is just like any of the other 100 billion that the bank has in assets.

It's still amazing to me that somehow these people who can't keep track of the difference between the Federal Reserve and Treasury. And these people are trusted to regulate the financial industry.

but It continues to be a hunt for the Goldman Sachs Cabal.