How in the world does Congress pass a $700 BILLION bailout package (Troubled Assets Relief Program), with specific language for buying up "Troubled Assets", then just suddenly decide that they want to use the money elsewhere?! When regular citizens get a loan for a house or a car, we can’t just decide that we want to use it for buying a boat or financing a movie. The banks have OVERSIGHT of the money they are loaning. In this case though, the government can do whatever they want.
I don’t understand how Paulson is allowed to make these changes without public approval from Congress. It’s situations like this that cause tax payers to distrust the government. And the worst part is – there’s no "uprising" by the public. I’ve barely heard anything from people complaining about the fact that OUR $700B is being used as "petty cash" for our "leaders" to "fix" our economic problems.
On October 1, 2008, the day the American Taxpayers had $700B stolen from them, the Dow Jones Average was 10,831. As of November 13, 2008, the Dow Jones Average is 8,835. That’s a difference of almost 2,000 points!! And this is AFTER they signed TARP into law! So where’s the help?!