“The Wuhan Panic is a textbook case of the Rahm Emanuel principle that you never want a good crisis to go to waste.”
This is why the Gov is so powerful.
Whenever there is a crisis, the gov avoids blame and accountability, and says “we could have prevented this if only we had more funding.”
Then it gets the funding and a new department.
And grows.
Spot on. The government is on a sustained growth path yet it is rarely, if ever, proactive, efficient or responsive in terms of the services that it supposedly provides the citizenry. And its NEVER accountable.
Truth be known most agencies and departments are bureaucratic empires that are focused on maintaining their own power. The number one priority is protecting and expanding itself.
Obama had inside help-----Emanuel was Obama's COS AND he placed Rahm in control of the US Treasury. Read on.
"Mr President, you are now in complete control of the US Treasury."
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THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move. When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials.
Reported by WSJ / 05/31/09 http://online.wsj.com/article/SB124113406528875137.html
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CIRCA 2009 EXCERPT---FOURTEEN TRILLION DOLLARS Behind The Real Size of the Obama Bailout;
A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street
SOURCE motherjones.com --- Mon Dec. 21, 2009 12:23 PM PST
The $787 billion TARP--the Troubled Assets Relief Program---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 untraceable 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 MJ chart at web site).
A guide to the pieces of the puzzle includes massive untraceable Treasury Department bailout programs.
Money Market Mutual Fund: In September 2008, the Treasury controlled by Obama/Emanuel 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 controlled by Obama/Emanuel 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 controlled by Obama/Emanuel 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 controlled by Obama/Emanuel 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.
SOURCE http://motherjones.com/politics/2009/12/behind-real-size-bailout