Where did that bank bailout go? Watchdogs aren't entirely sure

Didn't Congress just get new airplanes?

If AIG gave me $500k I would shut up =D.

That's me of course.

Just speculating here, but my gut feeling is that the lion’s share of the shanghaied TARP funds ( i.e. American taxpayers’ money ) have been converted to gold, and transferred offshore to the “war chest” of one of our “allies.”

You might come to this conclusion too, by connecting the dots since 911 and examining the greatest common denominators in our corrupted Bush-Obama administration.

“With friends like these, who needs enemies?”

F.T.G.


[edit on 9-8-2009 by seasoul]

This revelation about the TARP funds is absolutely unacceptable! These watchdogs as they are called should have had a handle on where all this money was going. I will tell you what should be done. Employees at the accountability offices and any regulatory agencies involved in this breach of the public trust should be investigated, and if found to be negligent; should at the very least be fired from their position. If fraud is proven then prosecute. It's that simple, misuse of taxpayer funds is a Federal offense and a felony. The law is the law. I would really like to find out what happened with this because it is very upsetting.


[edit on 9-8-2009 by Jakes51]

Originally posted by ElectricUniverse
reply to post by Ownification

 

You are probably right.

After all, what did Bernanke claim would happen if the government allowed a Fed audit?.... he claimed the country would collapse, or some such statement.

We are seeing more and more that money which the government has claimed is being used so that the country doesn't collapse, is dissapearing and probably ending up in the pockets of some rich elite people, meanwhile Americans keep losing their jobs, and the number of Americans that can't feed their families, or even can't afford a house keeps increasing.

[edit on 9-8-2009 by ElectricUniverse]

But I've got to ask; What do they want all this money for if it's just going to lose it's vlaue due to deflation? What would anyone want with money that has no vlaue? What is their motive?

reply to post by Mr.Hyde


Who says that money is still in US Dollars? It could be gold, silver, copper, Yen, etc. If could be anything at this point. Or they could be monetizing the debt with it...

I don't know the only people that know are the ones that are lying to us.

I do not fully understand 'monetizing the debt'. I am looking into it now.

Initially I would think debt already carries the value at which it was loaned plus the agreed interest. How they would reasonably place additional value to debt is something I will look in to.

I think this sounds similar to a credit default swap maybe...and those seem to be partially to blame for the economic situation we are currently in.

'monetizing the debt' means to buy bonds on money thats already availble/recently printed to place value to it? In essence buying newly printed money with bonds/money to give it value, and then loaning it back to the Government? - Is this close to being an accurate definition to Debt Monetiziation?



[edit on 9-8-2009 by Mr.Hyde]

If you ask me I think the FEDs have way too much power to be controlled by your congress. This is your money and you as rightful owners of the money should be at congress demanding to know where every penny has vanished to. The longer you wait to find out the harder it will be to actually keep up with the paper trails.

Something has always seemed off about the FEDs how they operate in secret with the taxpayers money. It isn't that they are crooks but it might be the fact that your government is spineless and the American people are too busy doing nothing to do anything about it. I think it is time to get off the computer and march to DC to grill everyone who is involved until everything is transparent like it is supposed to be.

reply to post by Mr.Hyde


For the most part yes.

When they monetize the debt they are "printing" "new money", in order to buy the bonds. What it does is cause inflation because they are adding the amount of currency in circulation, which devalues the dollar. It is a hidden tax because it cost more to make a living because the price of everything goes up.

It isn't a good thing, it is usually the sign of an economy that is about to collapse.

reply to post by Hastobemoretolife

...this in turn causes hyperinflation.
By printing more money and adding it into circulation,
it makes the money already there, worth less.(at some point)
This is called hyperinflation.
This is where you need a wheelbarrow full of money to buy a loaf
of bread because it takes heaps more to buy what it used to!
Listen to guys like Peter Schiff (on you tube) explain it Mrhyde.

This analogy is like a broken record, but its just common sense.
Unfortunately common sense is in short supply also.




[edit on 9-8-2009 by dodadoom]

reply to post by dodadoom


It could turn into hyper-inflation, if they continue the cycle, the rate these jokers are going it will turn into hyper-inflation, they got busted this last bond cycle, so it will be interesting what they do next go around.

reply to post by dodadoom


The best way to explain it is like this:

Let us say you have $10.00, and there is $100.00 in circulation. You own 1/10 of the money circulating. Now let us print another $20.00 for the "bail-out". Your share just got significantly lower, it was worth $10 on a whole scale but now it is worth $8.33.

reply to post by Hastobemoretolife

So many coincidences that all tie in together, what with the bonds worth
billions found on the japanese men, to the bailouts, to the wars, to the money spent on black ops projects. The clues are out there.
Its unconscionable what OUR money is used for sometimes.
If we are lucky, it will all work itself out. There's always hope.

You have got to be kidding!!!! So we so called birthers (is that the best they... the village idiots can do?). We birthers are not surprise and those (village idiots) continue to follow their islamic savior. Yep he's doing some fine saving and most of it will be his a** and the a**es of his cronies.

reply to post by Equinox99

Thanks! You described it perfectly!
Hastobemoretolife described it also as a tax.
In other words, our time and work is worth less also.

I really thought everyone knew all this. My bad.
Oh well, is a good thing we keep bringing it up I guess!
New peeps awaken everyday and God bless them.
(if I can say that here without starting a firestorm)

what did you expect? they're politicians. it's their job to take your money and not give it back.

this is so very discouraging. we want to believe these people whom we've trusted with leadership but over and over again they rob and betray us. they live like kings on the tax payer dole. they despise us and belittle us and call us names when we ask questions. How dare they! they should be ashamed of themselves. the fact that they aren't ashamed and spend their time putting together new schemes with new people to rob and betray us makes me sick. they've even managed to get us to turn on each other by fooling us into thinking one group is on my side and the other group is the bad guys. ha! that's just another lie. none of them care about us except for the money and the power they get from our belief in them.

sadly i don't even think i am exaggerating.

we can't force any of them to tell us what they did with the TARP money. maybe the fed has it but a thread or two on ATS or a speech somewhere doesn't convince me. I no longer believe our leadership overall has the best interests of this country at heart. i'm sure there are individuals who do but they are too few.

however TARP started out, whether or not it was necessary, it has gone way out of control. didn't cash for clunkers come out of TARP? by no stretch of the imagination should that happen. they insult us by saying they don't know where the money went. but they keep spending it.

I want to start having a new kind of town hall meeting. one or more members of congress come and answer our questions. every one. like they expect when there is a congressional hearing. but they answer clearly and honestly, with consequences if they don't. they would be expected to be prepared. instead of traveling around the world to exotic vacation spots and calling it research, they must answer for what they have done. in fact i would call these meetings trials. each elected official must answer to the people of this country for what they have done.

Originally posted by EnlightenUp
You stated you hadn't seen those threads so I dug a couple up just to be a good sport.

It's sounding like some kind of shell game by now where they don't really care what people think as long as what really happened isn't disclosed.

Ya i know, but I was pointing out that both statements came from TARP, and the last statement is what the original article is about in which they claim they aren't sure where the money is.

The money has gone into the pockets of the crooks that it was intended to go into. You elected this Government to screw you over, so get with the program already. They're living large off of your sweat. What are you really going to do about it?

Guys come on - this has been discussed AD NAUSEAM on ATS - I can not believe that this is for real - cheers MODS - oh oops - you are the mod.....