Treasury backs down in clash with bailout watchdog

AP/YahooNews ^ | 8/3/09 | JIM KUHNHENN

[Kartographer]

The Treasury Department has decided not to challenge the independence of the government watchdog agency that Congress created to oversee spending of the $700 billion rescue package for the financial sector.

[Kartographer]

Now that, that is settled what do you think he will find?

[stephenjohnbanker]

“Now that, that is settled what do you think he will find?”

I’m still trying to find out what happened to 17.5 billion of stimulus money parked in New Jersey. Any ideas?

[savedbygrace]

Dirt, corruption, theft, and mismanagement.

[Kartographer]

I’d say dig up Michelle’s garden first. ;-)

[stephenjohnbanker]

LMBO!......Laughing Michelle’s Butt Off

[American Constitutionalist]

" I’m still trying to find out what happened to 17.5 billion of stimulus money parked in New Jersey. Any ideas? "
Maybe Jimmy Hoffa might know where it's at.

[stephenjohnbanker]

Well, they might be in the same tomb.

[Liz]

What happened to $17.5 billion of stimulus money Obama parked in New Jersey. Any ideas?

Obama parked the $17.5B with NJ Gov Corzine.

Corzine's previous job was w/ Goldman Sachs on Wall Street.

Those guys know how to wire-transfer faster than you can say......"numbered offshore accounts."

[stephenjohnbanker]

“Those guys know how to wire-transfer faster than you can say......”numbered offshore accounts.”

It would be funny if they just bled off the interest, and then did a full accounting on the principal. How much could one earn on rolling 90 day commercial paper? (before it is wired to a numbered account in the Isle of Man)

[Liz]

Might be a couple games being played w/ the $14.5B----

NETeller is an Isle of Man-based payment-processor for gambling Web sites (and is suspected of having operations in the US Virgin Islands---a notorious money-laundering bank haven)

How easy it would be to profit---especially with Obama knowing the Fed's rate moves BEFORE anybody else does.

[Liz]

UPDATE Obama appointed Biden to allocate the stimulus trillions.
Both Biden and Obama visited Corzine when NJ got the $14.5B.

"Hi there, Americans. My son and brother are gonna help me disperse the trillion dollar stiumulus. "

REFERENCE Fraudster had links to fund run by Bidens
Reuters on Yahoo | 2/23/09 | BY Ajay Kamalakaran
(Excerpt) Read more at news.yahoo.com ...

(Reuters) – A fund of hedge funds run by two members of VP Joe Biden's family was marketed exclusively by firms in offshore Antigua controlled by Texas financier Allen Stanford, charged by regulators with an $8 billion fraud, the Wall Street Journal said.

The Bidens $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, in offshore Antigua, the paper said.

Stanford-related companies in offshore Antigua marketed the fund to investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm.

Paradigm Global Advisors is owned through a holding company by the vice president's son, Hunter, and Joe Biden's brother, James, according to the paper. Paradigm's attorney, Marc LoPresti, who represents Hunter Biden and James Biden, as well as Paradigm, told the paper he did not know which Stanford-related companies in offshore Antigua invested the roughly $2.7 million. He told the paper the Bidens NEVER met or communicated with Stanford.

===================================

And then he said........."duh."

There don’t you feel better now? (/snicker)

[stephenjohnbanker]

“How easy it would be to profit-—especially with Obama knowing the Fed’s rate moves BEFORE anybody else does”

Hey, how about that ;-)

[SaraJohnson]

He’ll find some things Timmah Goldmansachs doesn’t want him to see but that all of us want to see!