October 5, 2009
Neil Barofsky’s supposed watch dog group of bureaucrats threw a girly soft ball today, according to MarketWatch.
|Hank Paulson went so far as to predict the possibility of a breakdown in law and order and the logistics of feeding citizens if commerce and banking collapsed as a result of last autumn’s financial panic.|
“Government officials should be particularly careful, even in a time of crisis, of describing their actions, and the rationales for such actions, in an accurate manner,” a report released by Special Inspector General Barofsky of the bankster “oversight” program states. “In addition to the basic transparency concern that this inconsistency raises, by stating expressly that the ‘healthy’ institutions would be able to increase overall lending, Treasury may have created unrealistic expectations about the institutions’ condition and their ability to increase lending.”
Translation: the Treasury told a big fat lie when it cajoled, threatened — remember the threats of martial law? — and put the fear of God into Congress and the American people last year over the “banking crisis.” It was said unless the bankers had their way with us we’d get a Greater Depression. Master criminal Hank Paulson went so far as to predict the possibility of a breakdown in law and order and the logistics of feeding citizens if commerce and banking collapsed as a result of last autumn’s financial panic.
Paulson, Bush’s man at the Treasury, and Ben Bernanke, the bankster front man at the Federal Reserve, said they needed close a trillion dollars with no judicial oversight and no accountability in order to get a Mount Everest of toxic assets off the balance sheets of the international banks.
Having tasted blood, the banksters later asked for billions more.
“No problem raising our national debt by another 12%. No problem that the U.S. credit rating is at risk of being downgraded, costing taxpayers hundreds of billions extra in interest charges to service the existing national debt. No problem that foreign banks can line up at the trough alongside American banks. No problem that the toxic-waste assets don’t even have to be backed by U.S. mortgages. No problem that these same global bankers are the ones who trashed the credit markets in the first place,” writes Patrick Wood, editor of The August Review.
And trashed by design, I might add.
[efoods]Funny how things work out. Now that Paulson’s out of the loop at the Treasury nobody will be held accountable. It’s not about the Crime of the Millennium. It’s about the way scribes over at the Treasury write their reports.
The Office of the Special Inspector General for the Troubled Asset Relief Program issued the following instructions:
“The report adds that SIGTARP is not suggesting that government officials should make public their concerns over financial health of institutions, but that officials should be careful to describe their actions accurately,” concludes Ronald D. Orol of MarketWatch.
Describe their actions accurately!
Okay, let’s do that. It has nothing to do with the “financial health of institutions.” It’s all about grand theft larceny on a historical scale. Injecting taxpayer cash — or rather money that will be borrowed from the same bankers at interest — is about a consolidation of the banking industry, the ultimate fall, and the coming fire sales. The banksters are using the money to shore up their own bottom lines and buy up their competition and hand out luxurious bonuses to their minions and fellow gangsters. It should be obvious by now it is not about shoring up the real estate market or unfreezing credit. It’s not about restoring the economy to fiscal sanity and making sure you have a job.
Government collusion with business and bankers was famously characterized by Mussolini — he called it corporatism and said it is one and the same with fascism.
During the last Great Swindle in the 1930s, the former Chairman of the Banking and Currency Committee Rep. Louis McFadden said: “The United States has been ransacked and pillaged. Our structures have been gutted and only the walls are left standing…. In that dark crew of financial pirates there are those who would cut a man’s throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.”
The “gigantic train of crime” is rolling again and it will be far worse than it was in 1929 and the 1930s.