Restitutor Orbis

I wouldn't be surprised if one of the loonies from Digg who are always saying Obama is going to get what he deserves, etc, isn't the man arrested yesterday who drove up to the capitol barricade with a gun and ammo. His IQ must be on the same order. This is how CNN reports it:

Alfred Brock, 64, of Winnfield, Louisiana...drove up to the north barricade at the Capitol late Tuesday afternoon, saying he had a delivery for the president, Schneider said. After further questioning, he admitted he had a rifle in his truck. He was arrested and taken to police headquarters for processing, she said.

CNNMoney.com is reporting that Congress is going to hold bankers responsible for their actions. Congress wants to know what they did with all the money we gave them - all $165 billion of it.

When you take $165 billion from the U.S. government, you better make yourself available when Congress comes calling.

This Wednesday, lawmakers from the House Financial Services Committee are holding court with the chief executive officers of the eight banks that received the first injections of capital from the government's Troubled Asset Relief Program, or TARP.

Here is the problem:

By force feeding capital into nine of the nation's largest financial institutions (including Merrill Lynch, which has subsequently been acquired by Bank of America), regulators hoped banks would use it to keep credit flowing and prevent the economy from spiraling any lower.

But there have been concerns that some financial institutions have instead hoarded the cash. Some banks that received TARP funding have also been accused of using government funds to acquire rivals and pay lavish bonuses to executives.

One example is that of Citigroup (C, Fortune 500) which received $45 billion. They used only $17.5 billion for making new loans or extending existing credit lines. Obviously, that doesn't help the economy as much as redecorating your bathroom or office.

Reuters reported this afternoon on the results of that meeting:

"I want to know where the money has gone," said Democratic Rep. Paul Kanjorski of Pennsylvania. He told the executives that if their banks did not use the money, "Please find a way to return that money before you leave town."

I think Kanjorski speaks for many of us in asking that question.

South Carolina Republican Rep. Gresham Barrett said: "My folks simply have not seen the evidence that the money you were given is working or making their lives better."