Bailing Out Europe

Did you see on the Web and in the papers that Elizabeth Warren, Harry Reid's appointed Congressional Oversight Panel Chair, says that US taxpayer dollars disbursed during the "bailout" went to foreign countries?

Yup, that's right. Taxpayer money from the TARP bank bailout went to FOREIGN COUNTRY BANKS.

Elizabeth Warren is currently under consideration by Obama to head a new federal agency, probably some agency created in one of his massive bills that the Democrats all voted for, and she and her panel admitted that "billions of dollars in US rescue funds would up in big banks in France, Germany and other nations."

So let's understand this. As the US economy struggles to recover and desperately needs job creation, while Obama/Pelosi/Reid tripled our national deficit in just one year -- and that's money we US citizens are going to have to pay back -- our tax dollars spent on the bank bailout were flowing overseas to big foreign banks. And Ms. Warren explained, "There were no data about where this money was going," meaning what the overseas banks spent it on.

ABC News reports, "The most egregious case? AIG, naturally, where tens of billions of US taxpayer dollars went to Deutsche Bank and Societe Generale, among others." 43 of the 87 financial institutions that benefited from the AIG portion were foreign - that's 49%.

So while German and French banks benefited from our cash, the US taxpayers are left paying the bill. And we still have no jobs!

And how did the Obama administration respond to this report? They said the report "shows that Treasury worked effectively with its overseas partners in a number of ways to address the global financial crisis." "WORKED EFFECTIVELY..." That's all Obama had to say as US taxpayer dollars flowed into the welcoming hands of foreign bank.

The bank bailout was bad enough, but to find out that much of the money has been flowing into foreign banks is outrageous.

YOU MUST VOTE IN NOVEMBER AND THROW THE TRASH OUT OF WASHINGTON. That means anybody in Washington who voted for TARP. Our vote is the only way to put a stop to their agenda, which is to destroy our country.