Can you say tax evasion and money laundering?
Obama knows the drill----he did this as a 2012 candiate. Claimed he was so-o-o-o- popular, he was blanketed with contributions---that he was the FIRST billion dollar candidate. Too bad Repubs never got the FEC reports -----later in the campaign---Ohaha said he had to "borrow" to complate his camp[aign plans.
Ohaha's ex-COS Rahm Emanuel also pulled this stunt---when he "decided" he want to be Mayor. He went before the Chicago cams and said (with a straight face) that in three weeks he had collected $10 million in contributions. ROTFL.
Where is the money coming from? Here?
FOURTEEN TRILLION DOLLARS Behind The Real Size of Obama's Wall Street Bailout; A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout.
Mon Dec. 21, 2009 12:23 PM PST
The price tag for the Wall Street bailout is often put at $700 billionthe size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets.
To get a sense of the size of the real $14 trillion bailout, see our chart at web site. Below, a guide to the pieces of the puzzle:
Treasury Department bailout programs
(Remember that Obama's Treasury Dept was controlled by his then-COS Rahm Emanuel---a savvy, connected G/S lobbyist in the WH)
Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokeragesas much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid.
Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets."
GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion ---SNIP---.
LONG READ---go to web site to read more and checkout the shocking financial charts.
Missing in Action: Stimulus Sheriff Joe Biden
Michelle Malkin | october 14, 2012 | FR Posted by lowbridge
Remember when Pres Obama bragged about Joe Bidens fiscal discipline cred in 2009? ...around the White House, we call him the Sheriff, Obama warned government employees. Because if youre misusing taxpayer money, youll have to answer to him.
Fast-forward to 2012. Call in the search teams. Since being appointed the nations stimulus spending cop, Sheriff Joe has taken a permanent donut break. Hes AWOL on oversight. In fact, hes been bubble-wrapped, boxed and kept completely out of sight. The garrulous gaffe machine hasnt sat down for a national media interview in five months.
The Democrats trillion-dollar American Recovery and Reinvestment Act, however, keeps piling up waste, failure, fraud and debt. Who benefited most? Big govt cronies. (Excerpt) Read more at michellemalkin.com ...
Obama said at the stim bill signing at a special ceremony in Colorado
that VP Biden would be in charge of "keeping track of every penny."
"Hi there, Americans. Obama put me in charge of the trillion dollar
stimulus. My son and brother are gonna help me disperse the money. "
Offshore Fraudster had links to offshore fund run by VP's relatives
Reuters on Yahoo | 2/23/09 | BY Ajay Kamalakaran
(Reuters) A fund of offshore hedge funds run by two members of VP Joe Biden's family was marketed exclusively by offshore firms 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 the offshore Stanford Financial Group entity headquartered in Antigua, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, the paper said. Stanford-related offshore companies marketed the Biden 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 Biden's son, Hunter, and Joe Biden's brother, James, according to the WSJ. 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 entity invested the roughly $2.7 million. (Excerpt) Read more at news.yahoo.com ...
NOTE A lawyer for Hunter Biden and James Biden told reporters the Bidens NEVER met or communicated with Stanford. (/snicker)
Stanford is in jail for 110 years---but the Bidens got off scot-free.
MF Global went missing $1.4 billion while Bill Clinton collected $50,000 per month through his "Teneo" advisory firm in the months before MFG careened towards its Halloween filing for Chapter 11 bankruptcy, reports Human Events.
Clinton's "Teneo" was hired by MF Globals former CEO Jon S. Corzine to improve his image and to enhance his connections with Clintons political family, said the employee, who asked that his name be withheld because he feared retribution. The Teneo contract with MF Global lasted at least five months, the souce said. The board cancelled it after Corzine resigned.
Teneo is a dual-track company with one side devoted to merchant and investment banking and the other side set up to provide image and strategy consulting services. Clinton is the chairman of the companys advisory board.
(B) The Bank Secrecy Act needs to be mobilized here---in which banks are required to establish, implement and maintain programs designed to detect and report suspicious activity indicative of money laundering and other financial crimes.
The Bank Secrecy Act was enacted to protect the public from harm by identifying and detecting money laundering from criminal enterprises, terrorism, tax evasion or other unlawful activities, the special agent in charge for Internal Revenue Service Criminal Investigation, explained.
L/E needs to examine McAuliffe, Corzine and Clinton's bank accounts
<><> Joint bank accounts might be used to facilitate the transfer of of govt funds. MFG monies may pay for personal and private expenses, credit cards, real estate sunsidies and vehicle purchases.
<><> To cover their tracks, fake invoices might be created to show that money deposited into accounts was being used for legitimate investment purposes.
The scheme might be advanced by issuing phony statements of payments from financial sources that actually covered the transfer of funds for MFG insiders own use.
<><> L/E is directed to get ahold of: (1) copies of MFG checks, (2) wire transfers, (3) account statements, (4) invoices, (5) bills, (6) delivery tickets, (7) correspondence including e-mail, contracts, loan agreements, and, (8) any other books or records. L/E should also explore (a) monies paid to brokers, sub-brokers, (b) family members, (c) mortgage brokers, (d) financial managers, and, (e) real estate agents, brokers, and developers.
<><> L/E should scrutinize MFG bank accounts for suspicious activites: (A) large deposits, (B) funds transferred from one account into another, (C) frequent requests for withdrawals.