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 ...
I seem to quite vividly recall Rush Limbaugh making this point over and over again. Limbaugh continued to hammer that Congress was blindly handing over enormous power to Hammerin’ Hank Paulson and the Feds.
Limbaugh warned the American people and Congress but, as usual, all the “serious people” poo-pooh Limbaugh.
You were warned! No excuses.
Yeah, you’re so right. The more I think about this, the more I feel that the Bush administration laid all the groundwork (for not only setting up Obama to win the election), but also for setting things up conveniently by ‘opening up the faucet’ ahead of time for the Barbarians now inside our city gates.
The Boston Globe reported that the Senate version of Duh'bama's healthcare reform contains $$$billions for parks and paths.
You heard of Duh'bama's "shovel-ready" stimulus jobs? Maybe they'll call these "scalpel-ready" jobs.
E-x-c-e-l-l-e-n-t idea.
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There's so many other crimes being committed here it's not even funny. Can you say government fraud, multiple conspiracies, kickbacks, tax evasion (all of it to facilitate money laundering)? Conspiracy counts alone might include mail fraud, electronic fraud, and accounting fraud.
L/E might consider:
(a) conspiracy to defraud the IRS, and evade US banking laws,
(b) international money laundering,
(c) conspiracy to commit money laundering, and,
(d) aiding and abetting the preparation of false federal/state income tax returns.
Authorities might examine the company's receipts to falsely verify bogus charitable contributions (kickbacks) and multiple conspiracies and transfers of funds as part of a money-laundering conspiracy.
Government audits might show off-the-books bank accounts that were accessed solely by insiders, and that government-funds were used in various illegal schemes that might have integrated:
(1) money laundering,
(2) tax evasion (stolen money is taxable),
(3) violations of US banking and currency laws,
(4) conspiracy to commit wire fraud,
(5) commercial bribery in various financial schemes,
(6) establishing secret offshore bank accounts outside the purview of the IRS and US banking laws,
(7) fraudulent and casual accounting practices,
(8) non-existent financial oversight,
(9) having a hidden financial interest in companies faking business with the company,
(10) putting phantom employees on the payroll (money laundering).
It's been postulated that co-conspirators were laundering proceeds from TARP, and that money was laundered through Wall Street entities. There's a zillion ways to launder money. TARP monies could have been disguised by re-routing schemes. Companies may have routed the scheme through telephone lines with a maze of complex telecommunications' systems equipped with call-forwarding and voice mail systems, and numerous postal and commercial mail boxes..........and perhaps money-transfer systems that operate in ethnic enclaves and places like NYC's Diamond District.
Investigators may discover numerous falsified official documents. TARP kickbacks could have been disguised through a network of domestic and international bank accounts using counterfeit checks.....opening commercial bank accounts in the name of bogus businesses and wire-transferring and/or depositing gov't checks into those accounts.
Phony checks could have had invalid bank routing numbers, forged endorsements, or been drawn on the proceeds of other counterfeit checks deposited in other bank accounts. Before banks discovered the fraud, the funds might have been transferred out of the accounts……probably offshore----leaving banks unable to recoup their losses.
State and federal tax authorities could have been swindled. In an international scheme with offshore ties, co-conspirators or subsets of them, might have obtained hundreds of taxpayer ID numbers for phantom citizens with worldwide addresses, and used the information to evade US taxes and banking laws.
In a classic fraud, co-conspirators might keep two (or more) sets of books. Methods may have included limited-recourse loans to artificially inflate "asset value," to fraudulently borrow real money based on “assets” that didn’t really exist.
ACTIONABLE OFFENSES MIGHT INCLUDE:
(1) Encouraging the filing of false documents;
(2) Rigging legislation to benefit a special interest.
(3) Forcing taxpayers to underwrite crimes against the state without their knowledge or consent (constitutes the crime of second degree coercion of taxpayers, and should beprosecuted at once);
(4) Not reporting crimes against the state (aiding and abetting).
That makes sense.
The 'Paths' will lead to 'The Ovens' which will be in the middle of 'the Parks' where Barry's Brownshirt *nurses* will wheel all the Old Folks for disposal.
not sarcasm
Hank Paulson former chairman of “GoldmanSachs666”........heh.....good one.
POINTS TO PONDER We can safely conclude that creating jobs was apparently NOT the reason for the stimulus.
POINT ONE On June 9 President Obama called a press conference to announce, "Several financial institutions are set to pay back $68B to taxpayers." While Mr. Obama's announcement was welcome news, it was assumed that any money or profit would be returned to the general funds from whence it had come in order to pay down the debt. The truth, however, is that the money returned by the banks is finding new life as part of what amounts to a Treasury Department-controlled slush fund.
It was assumed that any bank bailout money or profit givebacks would be returned to the govt's general funds--- from whence it had come--- in order to pay down the debt. The truth, however, is that the money returned by the banks is finding new life as part of what amounts to a Treasury Department-controlled slush fund.
POINT TWO We keep reading and hearing Congress rushed to approve the "$787 billion stimulus package" early this year, but very little of it has been used. Now uber-Lobbyist Thomas Hale Boggs, Esq (Patton Boggs) was interviewed by nightly network news last week. Boggs said there's $2 TRILLION federal stimulus waiting to be distributed..... AND that he is getting unprecedented numbers of calls from all over the US......from those who want a piece of it. Boggs is the son of former Cong Hale Boggs and brother of ABC-TV commentator Cokie Roberts.
POINT THREE Obama tapped VP Joe Biden to "allocate" the stimlulus $$trillions. Biden's family was involved with Texas financier H. Allen Stanford, now charged with an $8 billion offshore fraud, the WSJ 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, the paper said. Stanford-related companies marketed the fund to global 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 VP's son, Hunter, and Joe Biden's brother, James, according to newspapers.
VP Biden admitted on ABC's This Week with George Stephanopoulos that the Obama Admin "misread" the economy when he pushed the stimulus bill. The admin thought unemployment would not exceed 8% this year it is now at 9.5%). Also discussed is the need for another trillion dollar stimulus package. (Excerpt) Read more at freedomslighthouse.com. Watch video.
POINT FOUR How can this be legal? A jaw-dropping policy the White House released late on a Saturday afternoon........hoping we would not notice. "Following OMB’s review, the Obama Administration has decided to make a number of changes to the rules that we think make them even tougher on special interests and more focused on merits-based decision making. First, we will expand the restriction on oral communications to cover all persons, not just federally registered lobbyists. For the first time, we will reach contacts not only by registered lobbyists but also by unregistered ones, as well as anyone else exerting influence on the process. We concluded this was necessary under the unique circumstances of the stimulus program."
POINT FIVE The Reserve Primary Fund's recent failure was "a tragedy" said Crane Data. Without details, sounds like a very strange charge. It may just be a diversion and scapegoating in a broad "War on Wall Street" that Obama, Soros and FDIC's Sheila Bair, among others, are engaged in right now, to get complete control of our financial system.
POINT SIX Obama hid $17.5 BILLION stimulus in NJ (its governor is a Wall Street operator). This $17.5 BILLION cannot be accounted for. AN EDITORIAL June 22 reported NJ was promised complete transparency.....but there is virtually no information on the $17.5B federal largess via a Web site — www.recovery.nj.gov. A NJ TASK FORCE was created to review every step of the process and ensure that stimulus funds are awarded based on clear and appropriate criteria and then distributed in a prompt, fair and reasonable manner. The Web site, as currently constituted, does none of that. END EDITORIAL
WHERE DID OBAMA PUT THE FIRST STIMULUS TRILLIONS?
Americans are awakening to the possibility that govt insiders are mishandling trillions in stimulus------and that monies are being laundered in the states, and/or are being illegally directed to Democrat campaign coffers, or wire-transferred offshore into personal accounts.
Obama's vaunted "$787B stimulus package" is NOT working. Now his advisers are readying Plan B. Unfortunately, it's a repeat of Plan A.......this fits a definition of insanity: repeating behavior and expecting a different result. Much of the spending wouldn't take place for months, if not years.... it hasn't helped the economy, and has added hundreds of billions to the national debt.
WORKING THESIS Obama, Soros, and Rahm are seizing control of the US financial system for personal/political gain and to subsidize the takeover of the country via the "Civilian Security Force". (The money's there to make them as well-funded as the regular military).
One thing that seems to be missing in HR 1424 is language forcing any repaid TARP funds to go to the deficit. As it is, Barney Frank can use any such repayments as his slush fund.
Interesting thesis. I'd be interested in seeing more on this if you can develop some solid information to support it.
Next up - Obamacare and Cap and Trade.
When is America going to wake up?
One thing that seems to be missing in HR 1424 is language forcing any repaid TARP funds to go to the deficit. As it is, Barney Frank can use any such repayments as his slush fund.Well .. in my copy of HR1424 which I *believe* was the final version at 451 pages has "deficit" mentioned eight (8) times.
Right now I can't go through the 451 pages to see how 'deficit' is used.
The info is all here on FR-----keep reading.
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Rahm Emanuel knows how to install a "Civilian Security Force" on US soil.
Rahm was a civilian volunteer, assisting the Israel Defense Forces (IDF), during the 1991 Gulf War, repairing truck brakes in one of Israel's northern bases.
Rahm---a dual citizen---volunteered for "Sar'el"----a three-week program (like US boot camp) where civilians are TRAINED to assist the military.
Civilians like Rahm lived on an IDF military base to get the proper training. Mmmmmmmmm.......betcha Rahm's chomping at the bit.
Looking at ACORN's activities......and the BILLIONS Obama has given them.......ACORN is primed for (and is already acting as) a "Civilian Security Force."
OK, I stand corrected. But when that much money is dangled before corrupt congresscrooks, they can't resist changing the law.
Barney Frank: Let's spend TARP profits before taxpayers can get them
I wonder if Oliver Stone will make a mavie about Goldman.... nah, not unless the MSM starts talking about it.
Amen! McCain had a chance to show some leadership and blinked.
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