Sen. John Kerry: ‘Animal House’ Party Days Are Over for U.S. Banks

[babylonsister]

‘Animal House’ Party Days Are Over for U.S. Banks: John Kerry

Commentary by John Kerry



March 6 (Bloomberg) -- Last week, when American taxpayers learned that a bank receiving Troubled Asset Relief Program funds had thrown a lavish bash and spared no expense to celebrate with the bands Chicago and Earth, Wind & Fire, I introduced legislation based on a simple concept: if a company accepts bailout funds from the taxpayer, it can’t waste money on lavish parties, expensive dinners and Tiffany trinkets.

The reaction in some quarters suggests that I had attempted -- like a modern-day Dean Wormer in “Animal House” -- to ban fun of any kind, or that the wheels of commerce and marketing would grind to a halt.

Nothing could be further from the truth. Normal marketing and travel wouldn’t be affected one iota.

I believe we have to insist that tax dollars be spent wisely because, otherwise, Americans will refuse to rescue any business struggling in the most difficult economic times since the Great Depression. And believe me, Americans struggling to hold onto their homes and their jobs are already tired of picking up the newspaper and reading about idiotic abuses of taxpayer money.

During these difficult economic times, in which 3.6 million jobs have been lost in just over a year, I believe companies receiving taxpayer assistance should be focused on easing the credit crisis by increasing lending.

Frankly, I wish this legislation wasn’t necessary. But too many times, when we hear of these abuses of tax dollars, we get an explanation that the expenses in question weren’t specifically paid for by TARP dollars. As we all know, money is fungible. A TARP recipient can’t be allowed to fall back on the claim that a given expenditure didn’t involve TARP funds.

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http://bloomberg.com/apps/news?pid=20601039&refer=columnist_kerry&sid=a.Ia1h9SiQmw

[Bicoastal]

1. Over?

Was it over when the Germans bombed Pearl Harbor?

[CJCRANE]

2. Hell no !!!

;)

[ACTION BASTARD]

3. Nothing is over until we decide it is!

[burythehatchet]

4. cuz when the going gets tough......

........

[CJCRANE]

5. the tough get goin'!

Who's with me? Let's go!

[polmaven]

6. When did THAT happen?

Was it over whenthe Germans bombed Pearl Harbor?

When did the GERMANS bomb Pearl Harbor? Must have missed that!

[CJCRANE]

7. "Forget it, he's rolling."

[azmouse]

8. John Belushi? The movie Animal House?

Ever see it? Very funny.

[polmaven]

9. Actually, no.

I have never seen it! The Germans bomb Pearl Harbor in it?

[Beetwasher]

11. Zero. Point. Zero.

n/t

[dflprincess]

16. Fat, drunk and stupid is no way to go through life (eom)

[WolverineDG]

17. Animal House should be #1 in your Netflix movie queue

right about now. :)

You'll thank us later.

dg

[Bicoastal]

10. Oh my Jesus...

...this is funny.

[azmouse]

18. Your Delta House name is Flounder.

[hootinholler]

19. Yep! Use the quote...

Hilarity ensues.

:rofl:

-Hoot

[karynnj]

21. I assume you know that that is dialog from Animal House

though parts of it (not the inaccurate history) do sound like the banking CEO.

[hugo_from_TN]

13. Bluto's right!

Psychotic, but absolutely right. We gotta take these bastards. Now we could do it with conventional weapons that could take years and cost millions of lives. No, I think we have to go all out. I think that this situation absolutely requires a really futile and stupid gesture be done on somebody's part.

[rockymountaindem]

20. And we're just the people to do it!

[CJCRANE]

12. Banks: "You fucked up - you trusted us!"

[WolverineDG]

14. Too bad no banks are named Neidermeyer

DEAD!

dg

[dflprincess]

15. The bankers would not have been Deltas -

they would have belonged to the Omegas. If his troops hadn't fragged him, Neidermeyer might have had a career on Wall Street.

[karynnj]

22. This is an interesting grab of the fisical conservative mantle

in the very best way possible. The Republicans have fought the use of federal money in teh stimulus package, the spending bill and they will fight it in the budget.