It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
On the day the new Congress convened this year, Sen. Dianne Feinstein introduced legislation to route $25 billion in taxpayer money to a government agency that had just awarded her husband's real estate firm a lucrative contract to sell foreclosed properties at compensation rates higher than the industry norms.
Mrs. Feinstein's intervention on behalf of the Federal Deposit Insurance Corp. was unusual: the California Democrat isn't a member of the Senate Committee on Banking, Housing and Urban A
This looks like a conflict of interest to me.
In particular, the report cited the private-public partnership that would purchase troubled real estate-related securities from financial institutions. Under plans unveiled by Treasury, for every $1 of private investment, Treasury would invest $1 and could provide another dollar in a nonrecourse loan. That money could then leverage a loan from another government fund backed mostly by the Federal Reserve, a step that Barofsky says would dilute the incentive for private fund managers to exercise due diligence.
Originally posted by earlywatcher
reply to post by Darth_Prime
but are we to the point that we don't bother to be outraged? this is not what government is for. okay it's what government is for in the eyes of the robbing elected officials but it's not what the people want.
is any legislation passed these days to benefit the citizens of this country or is it just to make tax money available and the power that goes along with awarding it more accessible to legislators?
I think we need to be more outraged instead of less. these folks are crooks.
Originally posted by rapinbatsisaltherage
reply to post by mybigunit
Seriously, Pelosi and Obama are two of the biggest hypocrites in the government right now. They’re all a bunch of liars but man, it’s hard to see a party caving so quickly into the thing they claimed to despise before Obama was sworn in.