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GreenScam: How Tax Favored Foundations Get Taxpayers to Bend Over
In fact, Government Inspector General Eric Thorson called TARP a mess.
The Congressional Oversight Panel created to oversee the TARP concluded on January 9, 2009:
In particular, the Panel sees no evidence that the U.S. Treasury has used TARP funds to support the housing market by avoiding preventable foreclosures.
The Government TARP Oversight Committee chaired by Elizabeth Warren found TARP overpaid $78 Billion buying just a few toxic assets. They found Bailout Banks bought back Taxpayer warrants below market value. They found no new consumer lending in evidence as a result of TARP.
The Indiana State Police Pension Trust sued Citicorp for selling Treasury warrants below market value and attempted to cancel them.
Fifth, Senator Christopher Dodd made a point of amending TARP retroactively to prevent the top 25 paid executives of Bailout Banks receiving bonuses.
Beyond the constitutional issue of retroactive laws, retired compensation expert Graef Crystal noted limits on executive pay are a joke with benefits including deferred cash bonuses and compensation, stock options, chauffeurs, jets, Box Seats, Country Club memberships and professional tax and money management.
Sixth, TARP requires a five-year accounting for Taxpayers, with ways to recoup Taxpayer losses from TARP.
What happens if the economic recovery that bailed out Chrysler Treasury Loans with Warrants in the Eighties is not forthcoming due to malignant government policies in the Naughties and Teens?
Let’s now consider the $3.55 Trillion Fiscal Year Sep 2010 US Budget entitled
A New Era of Responsibility: Renewing America’s Promise.
May 26th, 2010 at 2:40 pm
A theory like this one seems impossible to fathom. Is the government doing whatever is necessary to maintain calm among the population after these speculations aboutthe end of the world? If this theory is accurate, we wonder who the people who are on the list will be.