President Obama ‘Finally using some of his political capital’ ???? Give me a break the man ia not even President yet. G W Bush clearly doesn’t Get It I really think many of you folks in the media simply Don’t Get It as well !

Let the man do what he has to do. Let him at least become President First before you start talking about ‘using political capital’ …….. GEEZ !

I find it completely hilarious that Obama isn’t even in office yet and his own party is bucking the system and he’s having to threaten to veto them! LOL AWW..it can’t get any better than that! LOL

Honestly I hope that they all can get together and get this stimulus package out for the sake of the nation. They need to put party affiliation aside too. But I do agree that they need to really go through it with a fine tooth comb and not make any mistakes with it.

Cindy…Ga.

If Obama and his team satisfies Congress about accountability and tracking then they ought to worry more about explaining to their constituents why they didn’t vote for the bill when it might have rescued the economy, people’s homes and jobs, and helped get our infrastructure back up to code and modernized. I can understand the anger and frustration about the first half – I’m not pleased myself; but then I never expected much from Bush on the accountability side; he hasn’t practiced that his whole 2 terms so why would that change in the last month or so of his term?

The other message that Congress risks sending to all of us back here at home is that Congress is going to stay a do-nothing Congress who only gets in the way of implementing ideas and legislation that will benefit the country. I was hoping that with Obama in the White House the Congress would avail itself of the good feelings and take the opportunity to be a cooperative worker toward national good health rather than the bipartisan, egocentric, do-nothing organization we have seen for too long now. I’d hate to think that we elected a President with such promise only for Congress to block him at every turn.

The press is making a mountain out of a molehill here. Perhaps it’s a slow news day. The fact that Democrats want to deliberate is only shocking in comparison to the Republican rubber stamp Bush enjoyed for 6 of his 8 years. There’s nothing to see here except a normal legislative process. Get a grip.

6 days till the end of the Bush administration.

I am with Grog everything is being blown out of proportion
with regards to the press. Republicans and Democrats went
along with Bush on many matters.Obama is seen as the man
who is trying to make things change and fix the problems we
face as a nation.I think the media has a problem on its hands
because they actually have a different politician who will walk
the talk. Come Jan 20th watch how things change. The public
is with Obama not with Congress. If the press keeps up with
the narrow-minded focus on the petty matters, they will become
irrelevant.

@ Annie Kate. Congress authorized the first TARP installment, not Bush. It was their job in the authorization bill to specify safeguards, reporting requirements, and oversight. They failed miserably and now want to blame Bush. Well, no President can spend a dime without Congressional authorization. Congress should be indignant with themselves, as should we.

@Condy, I agree. If Obama can’t negotiate with his own party without resorting to veto threats, how will he negotiate with North Korea, Iran and our other enemies? Maybe he’ll just treaten them too.

The point being that if Obama is going to be a centrist as he promised the battles with the left are going to be heated. The honeymoon is over before it starts!

Ultimately, Bush is responsible for TARP and the economy. It’s happening under his watch and will be part of his legacy as such.

First of all Barack Hussein Obama campaign promise was change. Looks like we didn’t get change. I remember anoher president who campaigned on change and we got it all right .That was Jimmy Carter worst president in history. I have a feeling Obams will be following in his footsteps. I can’t understand why there is an issue with the remaining TARP money. The democrats all voted for it. The news media should have waited before making this an issue. They should wait until Obama is president. Then you will see how bad a president Obama will be.

It is laughable that anyone, bloggers, the press, would think that all this “change” wouldn’t hit a few bumps in the road. The press will keep us informed, hopefully not afraid. isn’t fear a factor in the driving down of the economy. Let the process proceed!

Congress was responsible of making some comprehensive guidelines to go along w/ the 700bill. request from G.W.Bush, and Paulson………. However they were shook out their collective boots by the constant consecutive crashing of the stock markets, which was confirming the Bush admins. doom and gloom message…….. So they rushed the bill……. I do agree that Obama should throw the dog a bone and give them some details as to what he wants to do w/ the remaining TARP funds…….. Ultimately I have to agree w/ my fellow blogger James….. Obama is here to kick @** and take names…. As a centrist, he just wants the job done for the American people, and will not give way to much of either parties ideologies…… I for one can respect that….. Go Obama!!

A bit off subject, but I agree 100% with Fallbrook CA. Obama walks like Jimmy Carter, talks like Jimmy Carter and is probably just as nice a guy as Jimmy Carter. Trouble is, Jimmy was the worse President in US history. Impotent is the best way to describe him. I fear that Obama, with all his good intentions is going to get stuck in the political mud, just like Jimmy did. Maybe Obama will recognize the problems as Jimmy never did… Remember the aborted Iran hostage rescue mission? That was just typical of the Carter term and I hope will not describe the Obama term….

The funny thing is that the “bailout” is really an investment where the US government owns a portion of these “bailed-out” companies and stands to make a profit if they are successful. TARP is not a tax-cut nor a give away. When I invest in a company I don’t know where the money goes until I see the annual report.

1) It’s funny that Obama, who is not president atm, is under the gun by Congress on issues they know have to be addressed.

2) Bad Mortgages are still causing the foreclosures due to the inability to get them refinanced due to investors or inability to modify the loan.
3) The banks took the initial bailout money and put it safely in their piggy bank, but no loans for anyone.

4) Last but not least, when Congress and Bush did put the intial $350billion out…they failed horribly in asking for ANY accountability on fund usage.

And now, they want to cry a river to the American Public about an economy that they know needs help, but are waffling when Obama asks them to grow a pair and do what is needed??? /facepalm

Obama ran on the premises of change. That was what this country wanted, change. However, everyone has ASSUMED that the change Obama was talking about was good. Change is change. It could be good, but with some of the people he has chosen for his cabinet, it looks like change is going to be bad.

I’m about as angry as can be over the way this whole thing was handled. Remember how mad we all were BEFORE the money was approved, then how concerned we were that they wouldn’t do ANYTHING, THEN how mad we were when it was approved, but with another $100 billion added on as earmarks. And this was all BEFORE we found out that no one could tell us where it was going, and whether it was actually doing anything to help the economy. Then Paulson decides to buy bank stock instead of troubled assets. Now the banks are saying the rest of the money needs to go for troubled assets, because that’s what’s really holding them back.

And Congress grilled the auto industry and accused THEM of being incompetent!

The previous administration and Congress were the ones who caused all the suspicion through their bumbling, and now Obama has to be encumbered by that. I believe that he will be much smarter about addressing the mess we’re in. The answer to the current rumblings is pretty simple…. he just has to give them/us what we want: transparency and accountability concerning how the money is being spent.

In he end the Dems will go with Obama. After all they
went with Bush. For the Dems to be seen as fightging
with Obama after not standing up to Bush for 8 years
is just dumb. How can you give Bush 350 billion and
reject Obama.i know there is the usual crowd who
thinks it is an opportunity to attack Obama. They
did not like Obama from the start and never will.

Democrats continue to shoot themselves in the foot! They have no business blocking Obama on anything he wants to do that was part of his platform in the first place. They should be happy they’re in the majority for a change and cut the guy some slack!

Having said that, I agree that there needs to be accountability with at least some of this bailout money (the first part’s gone and the chances of recouping any of it are slim to none). The banks that used the money to buy other banks or keep in their vaults shouldn’t see a dime of this 350 billion. And any new beneficiaries need to be damn sure they can account for what they get or be forced to give it back!

Susan
Rochester, New York

Mike in Syracuse…Isn’t threatening the world exactly what Bush has been doing for the last 8 years? And I’m sorry, but it isn’t up to congress to keep track of what is spent, ever heard of a treasury?

I learned how to balance my checkbook and write down the checks I wrote when I was 16, don’t you think our governement could do the same without congress telling them they have to? You can’t just say “I don’t know where the money went”, it sounds a little suspicious to me…

Jim from Fallbrook,

Why didn’t you use Jimmy Carter’s middle name, but you put in Barack’s? I bet you don’t write Walker every time you write out Bush’s full name…

TARP is the government investing in something normal market players (wise/prudent investors) would not. The only logic in this could be to cover (up) the losses (the sins) of the past and lay a fresh groundwork for the future. Only using taxpayers money to pay for the past sins (last 35 years since Nixon) may not be sufficient to undo the harm in lost people/consumer/investor confidence. A better way for Obama to start would have been to give serious tax breaks/incentives to US investors for any new investment/equity injection made to US companies and let the people/consumers/investors decide which is worth to save/bail out. It is people’s economy, people’s market, people’s country anyhow.

At least this change will steer us away from the course that McCain wanted to stay. And that course is also a failed one. So either steer us into slight change or stay the same failed course.

Mr. Fallbrook – even if Jimmy Carter was the worst president in history, he is no longer. W makes Jimmy look like a lightweight when it comes to incompetence.

As for Obama – Isn’t it a little early to be declaring the quality of his presidency? Just the fact that you invoke his middle name shows you have no interest in being fair minded. Thanks for revealing your ignorance at the beginning of your statement so we know what to expect from your opinion.