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Not on Tea Party Guest List? Orrin Hatch Invites Himself to Townhall Meeting
By Tom Diemer - Politics DailySen. Orrin Hatch isn't going to miss this party. Hatch, who is two years from facing reelection, says he plans to attend a Tea Party Express townhall meeting in Washington Tuesday night, even though he's not listed as a participant in an official announcement of the event. Tea Party Express head Amy Kremer told CNN that Hatch (R-Utah) had apparently "invited himself." That's all right, she said, and "obviously Senator Hatch wants to get reelected." But, she warned, "he needs to be ready to answer the tough questions." Hatch's one-time colleague, former Sen. Robert Bennett, was ousted by tea ...
What Really Happens to Politicians Without Labels. It's Not Pretty.
By Jill Lawrence - Politics DailyYou may have heard there's a "No Labels" movement afoot to rouse the country's silent majority – the sane, reasonable, moderate middle that just wants civility, and solutions, and an end to the fighting in Washington. Maybe you're one of those people and you like this idea of no labels. There are lots of big names associated with this group -- senators, mayors, media celebs and more. But I'll be honest, I've been skeptical. You only have to listen to actual no-labels types to understand why. A few days after the official launch of No Labels, four of them offered eye-opening accounts of ...
Fox News Viewers Believe the Darndest Things, Study Finds
By David Knowles - AOL News(Dec. 17) -- Fair and balanced ... and factually incorrect? A newly released study out of the University of Maryland concludes that viewers of the Fox News Channel were "significantly more likely" to believe a host of factually incorrect information than viewers who watched other television news organizations. Fox is by no means the only media outlet guilty of spreading what the study considers misniformation, but the channel's viewers were found to believe incorrect views on matters of established fact in much higher percentages than those peple who got their news of the world ...
TARP Price Tag Down to $25 Billion, CBO Finds
By David Knowles - AOL News(Nov. 29) -- Talk about bang for your buck! The Congressional Budget Office said today that the final price tag for the Troubled Asset Relief Program would total $25 billion when all is said and done. Considering that the U.S. government originally plunked down $700 billion to help rescue the nation's teetering financial system, the new estimate comes as a welcome surprise. As the nation's largest banks began paying back the federal government with interest for the loans, the amount owed the taxpayers has slowly dwindled away over the past two years. As for the outstanding balance, the CBO ...
TARP Bailout Will Cost $25 Billion, Well Under Earlier Estimates, CBO Says
By Carla Baranauckas - Politics DailyThe Troubled Asset Relief Program, known as TARP, through which Congress authorized the Treasury Department to spend $700 billion to buy or insure troubled assets to promote stability in the financial markets, will likely end up costing the United States $25 billion, according to an estimate issued Tuesday by the Congressional Budget Office. "Clearly, it was not apparent when the TARP was created two years ago that the cost would turn out to be this low," the budget office said in its latest report on the program. "At that time, the U.S. financial system was in a precarious condition, and the ...
Boffo GM IPO Highlights Secret of TARP's Success
By Joseph Schuman - AOL News
ANALYSIS (Nov. 19) -- The success of General Motors' return to the stock market caps the revival of a one-time bastion of American industry all but left for dead by investors just two years ago. But it is also the latest achievement to mark the quiet triumph of the multibillion-dollar government financial programs begun in the Bush administration, and continued by President Barack Obama, that economists credit with staving off a depression even though many Americans hate them. "Today one of the toughest tales of the recession took another big step towards becoming a success story," Obama ...
Panel Warns of Nightmare Scenarios for Housing Crisis
By Joseph Schuman - AOL News
(Nov. 16) -- The "robo-signing" scandal at the heart of the current foreclosure crisis may be just the tip of a legal iceberg that threatens to destabilize the American financial system just as the government is least equipped to support it. That's the judgment of the Congressional Oversight Panel, the watchdog agency created to keep an eye on the Troubled Asset Relief Program, or TARP. And it's the first official warning from anyone in the government that banks' problematic servicing of foreclosures could obscure and possibly evolve into troubles on a global scale. "At this point the ...
Rep. Dana Rohrbacher: George W. Bush 'Destroyed' the GOP
By Christopher Weber - Politics DailyA GOP congressman says former President George W. Bush is "not a class act" who "destroyed" the Republican Party. Rep. Dana Rohrabacher of California made the comments Wednesday on his Twitter account, in response to a tweet from a conservative law professor who complimented Bush for not criticizing his successor, Barack Obama. Rohrabacher, who won re-election last week, tweeted back: @MarkRMatthews Bush not class act, destroyed GOP, jailed Ramos & Compean, left us bailouts, gave more power to fed gov & China. Rohrbacher alluded to Border Patrol agents Ignacio Ramos and Jose Compean, who ...
Why Are Bailed Out Firms Abandoning Democrats?
By not in system - AOL News
(Oct. 25) -- The bailout of Wall Street and Detroit's automakers couldn't have passed without the support of Democrats. But bailed-out firms aren't returning the favor. According to The Washington Post, most of the campaign donations from bailed-out companies are going to Republicans, some of whom ardently opposed the Trouble Assets Relief Program to begin with: Companies that received federal bailout money, including some that still owe money to the government, are giving to political candidates with vigor. Among companies with PACs, the 23 that received $1 billion or more in federal money ...
Bloomberg Report Shows TARP Profits Top Treasury Bond Returns
By Steven Hoffer - AOL News(Oct. 20) -- Returns on the Troubled Asset Relief Program used to bail out the financial industry, better known as TARP, generated higher profits for taxpayers than 30-year Treasury bonds, according to a Bloomberg report. The government earned $25.2 billion on its investment of $309 billion in the financial sector, which many critics originally believed would result in losses of hundreds of billions of dollars. However, concerns persist regarding the TARP program. "From the perspective of the taxpayers getting their money back, TARP has been a great success," Todd Petzel, chief investment ...
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