It seems to simple...let's regulate how banks spend our bailouts.

[VirginiaProgressive]

So of course we bailed out the banks and other places like AIG, fine. But why is AIG giving millions to its executives? An obama administration official calls it “outrageous.” However, nothing is done. It’s very simple to me, regulate how they spend the money we give them. In past bailouts, we haven’t controlled how they spend the money. The bill has “asked” them to pay the government back and “advised” how they should spend the money. NO. We say in the bill how they have to spend the money – they sell of their bad loans, etc. Maybe this has been done, but I have missed it. Just a few days ago Dennis Kucinich asked for

Also, we make it law that to get a loan, you have to have certain requirements. This American Life’s “Giant Pool of Money” story (http://www.thisamericanlife.org/radio_episode.aspx?sched=1242) talks about how banks were giving out loans to people without checking their credit score, if they owned a house, and, in some cases, if they were even alive. Requirements were thrown out the door. That’s where we got the stories that showed a woman who brought in less than $30,000 a year getting a half a million dollar loan. Was she stupid to get the loan? Of Course. Should she have been able to get the loan in the first place? No.

Let’s Discuss. How can we fix this?

[david13]

1. Oh, I don't know. You are asking for an awful lot here. n/t

[VirginiaProgressive]

3. sarcasm i hope?

sarcasm i hope?

[Rosa Luxemburg]

2. Congress should tighten this up

[VirginiaProgressive]

4. except congress wont. Kucinich asks for it, and no one listens, the guy is right.

[Rosa Luxemburg]

7. maybe they haven't enough staff to do it?

[jakeXT]

5. Ron Paul "We Need More Earmarks!"

http://www.youtube.com/watch?v=fq_5H1XKVww

[VirginiaProgressive]

6. well,

so this is a federal reserve problem you are saying? I mean, even if we pass a bill like Paul is talking about, then we can see what the reserve is doing... but the reserve could still spend it the way it wants, just then congress could blame the fed.... but the money will still be spent the way it is now... so instead of the media uncovering it, congress will as well? I dunno, it just doesn't seem that helpful, but I could be missing something here.

[VirginiaProgressive]

8. any thoughts?

so this is a federal reserve problem you are saying? I mean, even if we pass a bill like Paul is talking about, then we can see what the reserve is doing... but the reserve could still spend it the way it wants, just then congress could blame the fed.... but the money will still be spent the way it is now... so instead of the media uncovering it, congress will as well? I dunno, it just doesn't seem that helpful, but I could be missing something here.

[upi402]

9. first we need an opposition party

to corporatism. I'm not holding my breath for any major changes. I hope I'm pleasantly surprised by a change of heart from our fearless leaders.

[notesdev]

10. Obstensibly we do

But of course the regulations are written by the very bankers themselves, on checks made out to politicians.