Banking Law

Bailout Comes To Mainstreet

Emily Flitter brings us the inspiring story of an average homeowner,Thomas Haberson, who's had enough of the big banks getting all the bailout bucks. He's filed a handwritten complaint against the US Treasury Department in an Arizona court that seeks not only class action status, but $150 billion in damages, and asks Hank Paulson the plaintive query "Can I Haz Bailout?"

Mr. Haberson also claims that ?we are entitled to know where the bailout money was used for. Since there are no oversight to speak of as to where the funds went to and how they used it?In this suit plaintiffs demands as taxpayer + citizen a detail record of what the fund went to + how they used.?

You have to admire a man who, like Howard Beale, is "mad as hell and is not going to take it any more." On the other hand, I hope he likes dancing with a bear, and that he's wearing comfy shoes, because as we've noted in other posts, when you dance with a bear, you keep dancing until the bear gets tired.

Merry Christmas, Mr. Haberson, and good luck.

Full post as published by Bank Lawyers Blog on December 23, 2008 (boomark / email).