Their research basically shows how 25 institutions (Fannie Mae, Freddie Mac, two auto companies, and 21 banks) have received 93% of all the TARP monies that were supposed to go to all the banks across the nation. One problem: the vast majority of the banks haven’t seen a red cent from the stimulus package. Out of over 8,500 banks, 21 got 93%, 553 got about 5%, and the rest has not been dispersed.

But you wouldn’t believe where a good portion of the money has gone…right back into the coffers of our Representatives, on both sides of the aisle. The money was contributed to the election campaigns of these people, and was almost evenly divided between Democrats and Republicans. Basically, it was payback for passing the stimulus bill. The folks at the Independence Caucus explain how it works.

So now back to the story from the AP. Why did the Banks need to be stress tested? The government has never needed to “stress test” the banks before now. Banks have always been required by law to have stress tests conducted by independent auditors at regular intervals. But lo and behold, the government stress test, required by Congress, conveniently finds that the banks need additional government money, which in turn will fuel an additional round of campaign finance kickbacks.

It’s well past time to stop this madness.

What bothers me most is that many of these Democrats are members of the Congressional Black Caucus, and it appears they are defending the criminal activities of Franklin Raines because he is black. And defending the policies of Fannie Mae and Freddie Mac because they benefited poor Blacks.

I though such disgusting racism ended in the 1950′s. Racism is wrong no matter who does it.

At any rate, we have seen the labor of the Democrats come to fruition over the past several days. We know who is to blame, and we know who should be going to jail. What are we waiting for?

Rep. Joe Knollenberg, R-Michigan, said he changed his vote to “yes” on Friday after calls to office changed after Monday’s rejection of the plan in the chamber.

“A lot of people change their minds (about the bill) after seeing heartbreak in the streets,” he said.

Heartbreak in the streets? What street, Wall Street? Last I heard our reps were getting calls at 99 to 1 against passage of this boondoggle. Sen Bob Bennet’s office reported 1000 to 1 against.

The American people are telling Congress, “We don’t need your help on this. We think we can handle it on our own.” Of course, Congress hears “blah blah blah help blah.”