TARP Bailout Scandal: Taxpayers Shortchanged $78 Billion on Asset Purchases

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Feb 102009
 

Surprise!


Greta Van Susteren Interviews Elizabeth Warren, Chairwoman of the TARP Congressional Oversight Panel. Growing scandal over revelations that Henry Paulson’s TARP plan only got .66 cents on the dollar of value for its purchase of troubled financial institution assets, costing Taxpayers $78 Billion dollars.

Background Articles:

‘TARP Shortchanged Taxpayers $78 Billion, Panel Says’

‘Treasury Overpaid for Bank Assets in Bailout, Oversight Panel Says’

On Sept 15, 2008 $550 Billion Disappeared in an “Electronic Run On the Banks”

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Feb 102009
 

Call me crazy but I still think this whole Economic Apocalypse that we are experiencing was orchestrated in order to get Obama elected.

At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a “tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars.” According to Kanjorski, this electronic transfer occurred over the period of an hour or two on Sept 15, 2008. Perfect timing!

Was this financial terrorism or outside influences trying to influence the election?


Here is what Kanjorski said in the video:

(note: Sept 15, 2008 was Monday. He may have been referring to “Sept 18, 2008.” Sept 15, 2008 makes more sense because that was the Monday morning after Lehman collapsed.)


“On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.

Money was being removed electronically.

The treasury tried to help with $150 Billion.

But could not stem the tide.

It was an electronic run on the banks

The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy.”


A Chinese Conversation: This Is a Good Wan

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Feb 102009
 

Caller: Hello, can I speak to Annie Wan?

Operator: Yes, you can speak to me.

Caller: No, I want to speak to Annie Wan!

Operator: Yes I understand you want to speak to anyone. You can speak to me. Who is this?

Caller: I’m Sam Wan. And I need to talk to Annie Wan! It’s urgent.

Operator: I know you are someone and you want to talk to anyone! But what’s this urgent matter about?

Caller: Well… just tell my sister Annie Wan that our brother Noe Wan was involved in an accident. Noe Wan got injured and now Noe Wan is being sent to the hospital. Right now, Avery Wan is on his way to the hospital.

Operator: Look, if no one was injured and no one was sent to the hospital, then the accident isn’t an urgent matter! You may find this hilarious but I don’t have time for this!

Caller: You are so rude! Who are you?

Operator: I’m Saw Ree.

Caller: Yes! You should be sorry. Now give me your name!!

Operator: That’s what I said. I’m Saw Ree.