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Wednesday, October 05, 2016

TARP was all about kickbacks

Treasury Secretary Hank Paulson -- a Goldman Sachs employee on the federal payroll -- refused to bail out Lehman Brothers in 2008. Said it would set a dangerous precedent.

Two weeks later Paulson, George Bush and the Democratic Party put up the $700 billion TARP, and after bribing key members of the Democratic-controlled Congress, banks split the loot.

The media ignored this kickback scheme as if it were the black son of Bill Clinton.

Guccifer 2.0 on Tuesday released documents that show some of where the big banks money went, thanks to unsecured computers at the Democratic Congressional Campaign Committee (DCCC).

Goldman Sachs. Besides paying of the Bushes to get another company official appointed Treasury secretary, Goldman Sachs gave Democratic chairmen and the DCCC:
DCCC $30,000
Nancy Pelosi $20,000
Barney Frank $10,000
Paul Kanjorski $10,000
Steny Hoyer $10,000
James Clyburn $10,000
Carolyn Maloney $7,000
Chris Van Hollen $5,000
Mel Watt $5,000
Luis Guitierrez $2,500
Xavier Beccara $2,000
John Larson $2,000
Goldman Sachs collected $10 billion.

Hey, you saw Good Fellas. Always cut Paulie in on the action.

Wells Fargo:
DCCC $30,000
Pelosi $10,000
Clyburn $10,000
Kanjorski $10,000
Hoyer $10,000
Frank $7,000
Becarra $6,000
Maloney $5,000
Wells Fargo collected $25 billion.

Citigroup:
DCCC $22,500
Pelosi $10,000
Hoyer $10,000
Clyburn $8,500
Frank $7,500
Kanjorski $6,500
Van Hollen $5,500
Watt $5,000
Larson $4,000
Maloney $3,500
Becarra $3,500
Citigroup collected $25 billion.

Bank of America:
Clyburn $20,000
Hoyer $17,500
Frank $17,000
Maloney $10,000
Kanjorski $7,000
Watt $7,000
DCCC $5,000
Pelosi $5,000
Becarra $3,500
Van Hollen $3,000
Larson $2,500
Bank of America collected $10 billion.

Every bank on the TARP list paid off key Democratic congressmen.

These are legal bribes. The money goes to the congressman's campaign coffers. But a congressman can do with his campaign stockpile whatever he wants.

These are far from the only TARP companies that bought the services of Nancy Pelosi, Barney Frank, and the rest. You think Paul Ryan and Mitch McConnell would not do the same?

This is what Trump threatens. The slanders about Hitler -- calling his supporters Nazis and deplorable -- is not about politics.

It's about paying the trolls before raiding the Treasury.

But hey, vote your "principle" because he called a beauty queen who gained sixty pounds in six months "Miss Piggy" and made her diet and exercise.

***

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14 comments:

  1. I want to comment, I really do; but I enjoy your blog too much to turn it into a X-rated rant.

    Washington, (D)istrict of (C)artels.

    ReplyDelete
    Replies
    1. Go for it. I'm feeling randy today...

      Delete
    2. @zregime: Did you ask Randy's permission?

      Delete
    3. I did not. Randy's on vacay down in Haiti right now and, darn it, I haven't been able to get ahold of him...

      Delete
  2. As a guy who was on the outskirts of all that at FINRA...the brass were scared shitless. Like the end of the world or something. I'm thinking, naw, y'all, it's called creative destruction. But, I wound up having to work my ass off to merge the losers into the (government) winners. God that sucked. Rick Santelli's total facial of Ezra Klein is a moment that should be treasured forever.

    ReplyDelete
  3. The Trump Justice Department should nonetheless find a way to nail these morons.

    ReplyDelete
  4. Cash for Clunkers was a giveaway slush-fest too. All the right people got theirs and the green movement felt good about themselves in the mirror.

    ReplyDelete
  5. Replies
    1. You are absolutely right. I shall fix.

      Delete
  6. Replies
    1. Thanks for the double spell check cognito...that's really setting precedence when you make sure we get the message twice!

      Delete
  7. I had a horse in this race and this just verifies what I have suspected for years. But no one will pay the price for this corruption except we rubes.
    My life savings were in part in Lehman Brothers bonds. They were not politically connected, so they were not bailed out. That and the stock market meltdown ended up costing me almost 1/2 of my life savings. Lehman Brothers had billions of assets, but that was NOT distributed to the bond holders which were to be paid after the secured bank loans. The courts allowed the assets to be given out to save the jobs of those working for Lehman Brothers. Retirees/bond holders, were not protected.

    ReplyDelete
    Replies
    1. "That and the stock market meltdown ended up costing me almost 1/2 of my life savings."

      Many small investors and savers were in the same situation as you (including me too, but not nearly so drastically). And all of us were legally entitled to claim a tax loss carry forward to offset our investment gains in following years, using the same provision of the IRC as Trump. Add up all the losses of the small investors and in the aggregate you'd probably get a trillion or two dollars in lost wealth...which makes Trump's billion dollar loss rather less of the BFD the Lefty commies are making of it.

      Delete
  8. I had a horse in this race and this just verifies what I have suspected for years. But no one will pay the price for this corruption except we rubes.
    My life savings were in part in Lehman Brothers bonds. They were not politically connected, so they were not bailed out. That and the stock market meltdown ended up costing me almost 1/2 of my life savings. Lehman Brothers had billions of assets, but that was NOT distributed to the bond holders which were to be paid after the secured bank loans. The courts allowed the assets to be given out to save the jobs of those working for Lehman Brothers. Retirees/bond holders, were not protected.

    ReplyDelete