Government Bails Out Tax Deliquent Companies

Allen Frederick

Rep. Lewis calls this a shameful disgrace, I simply say this is total incompetence. Do you not think the VERY FIRST QUESTION anyone should have asked these companies seeking a hand out was DO YOU OWE TAXES?

The blind are surely leading the blind and as we can see they all fall into a ditch. CAN WE STOP THE MADNESS NOW?

Talk about MARCH TO MADNESS!

Beam me up all intelligence is lost down here. Eagle Out!

clipped from www.msnbc.msn.com

WASHINGTON – At least 13 companies receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.

Rep. John Lewis, D-Ga., chairman of a House subcommittee overseeing the federal bailout, said two companies owe more than $100 million apiece.

“This is shameful. It is a disgrace,” said Lewis. “We are going to get to the bottom of what is going on here.”

Banks and other companies receiving federal money were required to sign contracts stating they had no unpaid taxes, Lewis said. But he said the Treasury Department did not ask them to turn over their tax records.

Treasury Secretary Timothy Geithner is already under fire on Capitol Hill for not preventing $165 million in bonuses from being paid to employees at troubled insurance giant AIG.

To date, the Troubled Asset Relief Program, or TARP, has paid out more than $300 billion to private companies, with billions more on the way.

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