New World Order University Forum

Let’s start with a report from McClatchy news service quoting congressional oversight panel chief Elizabeth Warren that “it is not possible to exercise meaningful oversight over Treasury’s actions” with regard to the TARP bailout funds. Iowa Senator Charles Grassley also weighed in, “You can’t measure effectiveness when you don’t know what the goals and objectives of a program are, or how the program is being run.” Treasury Secretary Timothy Geithner is blocking access to information about how the TARP funds were actually used. Warren believes the U.S. Treasury has overspent its authorized funds by $78 billion.

Treasury Secretary Timothy Geithner is crook number 1.

Bloomberg reports on various sources of income of some of President Obama’s recent appointees. Director of the Council of Economic Advisers Lawrence Summers received $2.7 million in speaking fees from Bank of America, Citigroup, Goldman Sachs, and other banks that later received TARP bailout funds.

Lawrence Summers is crook number 2.

White House Chief of Staff Rahm Emmanuel siphoned $320,000 out of Freddie Mac just before the Freddie Mac accounting scandal broke. Emmanuel only had to attend six meetings to collect his $320,000. The Democrats used Fannie Mae and Freddie Mac to finance Democratic campaigns as well as to line their own pockets. See the article at the Chicago Tribune.

Rahm Emmanual is crook number three.

The Big Picture has background on AIG, reinsurance schemes, and white collar crime.

Larry Chin writes on “The Smooth Criminal Transition from Bush/Cheney to Obama.” More on AIG in this article.

Senator Christopher Dodd sought campaign funds from AIG, according to the Washington Times. Well, sure, a quick $160,000 for the Senate Banking Committee Chairman is chump change for AIG. Dodd paid back his AIG contributors by approving their bonuses. Dodd also received the most campaign contributions from Fannie Mae and Freddie Mac of any politician.

William Engdahl exposes Summers, Geithner, and President Bill Clinton’s role in facilitating the criminal activities of the top Wall Street firms. Timothy Geithner’s “dirty little secret”: The financial crisis is limited to five banks, each holding several trillion dollars in worthless derivatives. Pay attention to these numbers:

JP Morgan Chase, $88 trillion

Bank of America, $38 trillion

Citibank, $32 trillion

Goldman Sachs, $30 trillion

Wells Fargo, $5 trillion

The TARP bailout is designed to keep these firms afloat rather than forcing them to enter bankruptcy, where they belong. But the magnitude of the worthless debt far outstrips the ability of the Fed and the Treasury to support. This con game can’t continue much longer. The Treasury can’t come up with the $200 trillion to make these banks whole.

Financial Post has a brief article on the money Goldman Sachs has received from the government.

Open Secrets has a piece on which politicians owned stock in the major Wall Street investment banks and which candidates these banks supported.

The New York Daily News reports on the top ten world banks that launder money for Iran and help finance terrorist groups. At the moment, nine of these banks are not being named. We wonder if we’ll find any of the Infamous Five on the list when the negotiations conclude.

Do you believe the Obama Justice Department will investigate any of these crooks? We doubt it, too. The looting of the U.S. Treasury continues at an accelerated pace under the Democrats. President Obama has surrounded himself with the same corrupt insiders who caused the financial crisis. And this is just the tip of the iceberg. Washington is really a revolving-door kleptocracy of slick con men whose conflicts of interest should be prosecuted. If only we could find an honest prosecutor and an honest judge.

Tags: AIG, Barack Obama corruption, Christopher Dodd, Fannie Mae, Freddie Mac, Lawrence Summers, Rahm Emmanuel, Timothy Geithner

This entry was posted by Director on Thursday, April 9th, 2009 at 3:39 pm and is filed under Obama Administration, TARP bailout. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.