Posted on 07/17/2009 5:12:13 AM PDT by Liz
.......almost every lawmaker blasted Former Treasury Secy Hank Paulson's $700B bailout as a deception and ultimate bait-and-switch ruse. "It was masterful deceit," said Rep. Marcy Kaptur (D-Ohio), hammering Paulson for his initial pleas to Congress a year ago to buy toxic assets.....that went to prop up banks and financial firms......Paulson's payoff to his Wall Street "pals," said one lawmaker. "You misled Congress," said Rep Stephen Lynch (D-Mass). Paulson, he said, concealed his ultimate motive....to give $700B to his pals.'" "You asked us, and not very tactfully, for a blank check," said Rep Mark Souder (R-Ind). ".......if we had known you were going to use the money for something else, we would never have approved it." Paulson denied making a misleading switch, "I had to change gears -- the financial system was collapsing all around us." " I don't think anyone's buying what you're saying," said Rep Dan Burton (R-Ind.). Rep Edolphus Towns (D-NY) said, "When you turn over complete authority to the Treasury Department or the Fed, with no accountability and no checks and balances, you get seemingly arbitrary decision-making and residual suspicion."
(Excerpt) Read more at nypost.com ...
Almost correct. The second vote was in the Senate, which vowed to show the House how business gets done and passed the McCain engineered version of TARP. The McCain version, you might recall, ADDED another $147 Billion in bribes to the House to get certain House members to switch their votes. THAT was when the House voted again and PASSED the TARP bill. So, the actual amount of TARP is NOT $700 Billion, it is actually $847 Billion with the bribes the Senate kicked in to get the House to go along with them.
Anyone else smell the stench coming from Congress???
It would be a good time to bring those articles out from the bottom of the stack.
You’re preaching to the choir. But frankly, I’m getting too old to care. It’s not gonna change, not one iota, so I don’t see the point in getting stressed out about it.
And no one ever investigated as to why we had the trigger event last September.
This "event" was obviously planned, and similar to 9/11, succeeded far beyond the initial design of the perpetrators.
During the whole bailout madness, all I could think of Mel Brooks in Blazing Saddles: "Gentlemen, we have to save our phoney baloney jobs! Harumph!Harumph! Harumph! Hey, I didn't get a harumph outta that guy!"
Washington needs a huge reset button.
It wont help because :comment #34
Lol, Bush sure fooled you.
BUMP!
Why this guy isn’t being frogmarched on the Capitol steps to a Federal holding cell, is beyond me.
LOL. About right. I was just checking my notes on passage of various bailouts, and pretty much all I could think of was that whatever these dolts do, someday the whole mess IS going to collapse.
The system is beyond "reasoned dialog." I quit wasting energy in communication with the government. "Congress is utterly indifferent as to public sentiment, and holds the public in disdain."
There should be rewards for those coming forward with documentation or proof that Paulson took money from his CEO buddies to force the tarp on us.
If there is evidence, put him on trial and sentence him to total loss of his assets and send him on an unguarded trip throughout middle America to explain why he did this to America.
The lid is being lifted from the smelly garbage can.
Watch this case. It’s in the courtroom of Judge Zatkoff, a constitutionalist and a very tough judge. His rulings are excellent, he crosses all the “Ts” and his decisions have been upheld by conservatives on the SC. This case has the potential to blow the fascist obuma administration out of the water. Read it here -
AIG and Fed Government: Constitutional Challenge of AIG Bailout Allowed to Proceed May 27, 2009
Posted on 05/27/2009 11:12:24 PM PDT by GoreNoMore
Trouble Brewing for AIG and Federal Government: Constitutional Challenge of AIG Bailout Allowed to Proceed Wednesday, May 27, 2009
ANN ARBOR, MI – Proclaiming that times of crisis do not justify departure from the Constitution, Federal District Court Judge Lawrence P. Zatkoff allowed the lawsuit against Treasury Secretary Timothy Geithner and the Federal Reserve Board challenging the AIG bailout to proceed. The lawsuit was filed last December by the Thomas More Law Center, a national public interest law firm based in Ann Arbor, Michigan, and attorney David Yerushalmi, an expert in security transactions and Shariah-compliant financing.
“Masterful deceit”, bah. Hank’s such a master of deceit that he was able to telepathically convince Marcy Kaptur, of the House Banking Committee, that Ben Bernanke had been running Goldman Sachs instead of him.
It did much more than merely “protect” Goldman Sachs. It eliminated much of their competition, and they will be first in line to trade in the worthless and imaginary carbon markets. They just get bigger taking your money.
I don' believe that for one second. Congress was NOT mislead. That went along with it. We've been telling them COSTANTLY to read the damn bills, every page, and make every page public, but to this VERY DAY, they are still not.
Evidence for my argument:
The Reckless Congress (Democrats want to ram through one of the greatest raids on income in history)
Pelosi Censors Republicans Key excerpt: Rep. John Carter speaking: In fact, we had planned to speak on the lack of transparency of the House since Democrats took control. We had planned to criticize Speaker Pelosi for repeatedly denying Members, the media*, and the public to right to read legislation before it was voted on. We were set to discuss House Majority Leader Steny Hoyer’s statement last week that if his Members were required to read the Democrats’ healthcare reform package before it was voted on, it would fail.
Nancy Pelosi Railroads "Health Care Reform" 1000+ Pages
These stories are JUST on the Health Reform travesty. Cap and Trade saw similar shennanigans. The DEMOCRATIC controlled Congress should be thown out on their collective ears. Frauds each and every one.
* John, John, John; the media KNOWS. They are part of the democratic party. They're helping prepetuate this fraud.
There ARE penalties for misleading Congress---and he was under oath. ... The BIG question in all of our minds-----how much did Paulson collect from his "friends" ------for blanketing them with billions and billions of tax dollars with virtually no accountability. Man, the wire transfers offshore musta been going 24/7.I'm not saying Paulson, Bernake, et al didn't pull a fast one but I'm a bit puzzled by these congress-critters (phony) outrage about 'a blank check' and the $700B Bailout (TARP) now being called, 'MASTERFUL DECEIT'. As from the copy of HR 1424 I have (and every other version), if there was a 'MASTERFUL DECEIT' then CONGRESS didn't do its job.
TITLE I—TROUBLED ASSETS RELIEF PROGRAM
(pertinent 'Oversight' sections shown)Sec. 101. Purchases of troubled assets.
Sec. 102. Insurance of troubled assets.
Sec. 103. Considerations.
Sec. 104. Financial Stability Oversight Board.
Sec. 105. Reports.
Sec. 107. Contracting procedures.
Sec. 108. Conflicts of interest.
Sec. 111. Executive compensation and corporate governance.
Sec. 116. Oversight and audits.
Sec. 118. Funding.
Sec. 119. Judicial review and related matters.
Sec. 121. Special Inspector General for the Troubled Asset Relief Program.
Sec. 125. Congressional Oversight Panel.
Sec. 127. Cooperation with the FBI.
Sec. 129. Disclosures on exercise of loan authority.
Per HR 1424 there's enough rules, regs and Congressional OVERSIGHT required that not one Dime should have been 'misspent'. So if anything funny did go on Congress should look in a mirror. They dropped the ball -- again.
And the same bunch of peckerwoods want to run our healthcare?!?
If they do, we're all DOOMED!
I don’t want to have to go back and look things up, but if I recall, the 500 billion run on Money Market accounts from a foreign source scared the snot out of Bush. Paulson then had him thinking that if they didn’t do the bailout “right away” the entire global financial system would break down and there would be rioting in the streets.
October surprise to help Obama - and allow the Wall Street guys to clean up. Yes?
Speaking of triggers, I still wonder about the $500bn run on the markets that triggered the melt down. Chinese, Saudis, Soros, Rahm Emmanuel? Who else could be on the list of groups who would want Bozobama in charge?
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