Scritti Politti: May 15, 2009

Scritti Politti: May 15, 2009

www.huffingtonpost.com

Did a TARP beneficiary accidentally speak the truth about the program to a reporter from the Telegraph? At first, the Daily Telegraph reported that Mark Patterson of MatlinPatterson, "a firm that invested in a Michigan bank with help from TARP," referred to the Troubled Asset Relief Program thusly:

"The taxpayers ought to know that we are in effect receiving a subsidy. They put in 40pc of the money but get little of the equity upside," said Mark Patterson, chairman of MatlinPatterson Advisers.

...

Mr Patterson said the US Treasury is out of its depth and seems to be trying to put

(visit the link for the full news article)

The truth shall set you free? I like the term: "...trying to sedate the public..."

Thoughts?

The current administration must have an entire team of people dedicated to REMOVING information from the web. It seems that all of the REAL stories are disappearing as fast as they are posted these days.

www.huffingtonpost.com
(visit the link for the full news article)

Originally posted by lpowell0627


The truth shall set you free? I like the term: "...trying to sedate the public..."

Thoughts?

The current administration must have an entire team of people dedicated to REMOVING information from the web. It seems that all of the REAL stories are disappearing as fast as they are posted these days.

www.huffingtonpost.com
(visit the link for the full news article)

He goes on to say:
Did a TARP beneficiary accidentally speak the truth about the program to a reporter from the Telegraph? At first, the Daily Telegraph reported that Mark Patterson of MatlinPatterson, "a firm that invested in a Michigan bank with help from TARP," referred to the Troubled Asset Relief Program thusly:

"The taxpayers ought to know that we are in effect receiving a subsidy. They put in 40pc of the money but get little of the equity upside," said Mark Patterson, chairman of MatlinPatterson Advisers.

...

Mr Patterson said the US Treasury is out of its depth and seems to be trying to put off drastic action by pretending that the banking system is still viable.

"It's a sham. The banks are insolvent. The US government is trying to sedate the public because they are down to the last $100bn (£66bn) of the $700bn TARP funds. They think they're doing this for the greater good of society," he said, speaking at the Qatar Global Investment Forum.