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

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

news.yahoo.com

Despite a new oversight panel, a new special inspector general, the existing Government Accountability Office and eight other inspectors general, those charged with minding the store say they don't have all the weapons they need. Ten months into the Troubled Asset Relief Program, some members of Congress say that some oversight of bailout dollars has been so lacking that it's essentially worthless.

(visit the link for the full news article)

So after the $3 - $4 trillion dollars that were lost under Obama admisnitration, and after claiming that these new bank oversights were needed, now we are finding out that the $700 billion bail out money can't be trace as to how it has been spent.

As if losing $3 - $4 trillion dollars wasn't enough...

This is only going to mean one thing, the Feds, and the administraiton is probably going to want to implement more laws, and regulations giving even more power and money to these people.

From the article we can read:

"TARP has become a program in which taxpayers are not being told what most of the TARP recipients are doing with their money, have still not been told how much their substantial investments are worth, and will not be told the full details of how their money is being invested," a special inspector general over the program reported last month. The "very credibility" of the program is at stake, it said.

Excerpted from original article.

So the Nationalization of the banks hasn't helped at all, and in fact it is only allowing for more money to be lost into a "black hole".

When is the raping of the Republic going to stop?

news.yahoo.com
(visit the link for the full news article)

[edit on 9-8-2009 by ElectricUniverse]

reply to post by ElectricUniverse


SO much for transparancy!! The only thing we can see through are the lies that they keep repeating. This is why the FED is fighting that congressional audit tooth and nail. Should the truth of their treachery ever come to light.... The cost of rope will skyrocket!!!

Whatever, bunch of crooks.

How could they not know where the money went, and then blame that they don't have enough power. That is stupid.

I have an even better suggestion, how about demand the banks to pay back every last red cent.

reply to post by daddyroo45



I am with you, and the thing is, the government wants to have control over healthcare...you know how many billions of dollars is in this industry?...

If the trend continues, and i don't think it will change, the healthcare program will just allocate money for the rich and the healthcare won't do anything at all for the people.

How can we trust the government to get power over the healthcare industry when they have been losing $3 - $4 trillions of dollars, and the $700 billion from the bank bailout, and they are not afraid to claim to the people, "oh, we just don't know where the money went......"

What do you think is going to happen to every other infraestructure the government gets it's hands on and has power over, such as healthcare?...

What about the automobile industry bailout?.... The government gave billions to these people, and still millions of jobs have been lost?....

Well, the millions of jobs lost is not only from the auto industry, but still a large amount of lost jobs does come from the auto industry. So what is all this money doing? It is certainly not helping regular Americans.

[edit on 9-8-2009 by ElectricUniverse]

The reality is I don't believe most of the TARP money has gone anywhere.

The Federal Reserve has charged the Treasury and the Tax Payers for the loan (with interest of course) but it appears that very little of the money has actually left the Federal Reserve.

The Federal Reserve seems to be keeping most of it on tap for the banks in case they actually need it.

Monetizing the 700 Billion by putting it out into circulation would have cause runaway and rampant inflation.

However banking customers around the globe with deposits in U.S. Banks were basically convinced not to make a run on the banks to withdraw deposits because the FDIC doubled the standard insurance on all accounts from 100,000 to 200,000 and the Fed made it appear through the 700 Billion Bail Out that under no circumstances would it let major U.S. Banks fail.

In other words it was like Regan's Star Wars initiative an ellaborate hoax and bluff to keep people from acting in a detrimental way towards the banks and the monetary system.

Because the money actually hasn't gone to the banks, the banks can't really tell you what they did with it, since in reality they have done nothing with it.

If they tell you they haven't used it because they didn't really need it the Tax Payers who got stuck with having to loan it are going to be furious and want the Fed to give the money back.

If the Fed gives the money back to the treasury so the treasury can give it back to the Fed in essence paying off the loan, the Fed stops making interest and if there is then a foreign led run on the banks or a domestic run on the banks of people wanting to yank large deposits, there will no longer be that huge pool of unmonetized currency that can quickly be shipped to the banks to cover the runs and stop the runs.

It's complicated.

The Fed does not believe most of congress can grasp what they are really doing in all this so they don't try to tell them.

The Fed and the Congress don't think the citizens can grasp the intricacies of all this either so they tell us one story that they feel is simple enough for us to understand.

Don't worry it's only money, you still have your health!

Well until they ram the Health Care Bill through like the Bailouts...oh boy...welcome to Amerika!

reply to post by ProtoplasmicTraveler


And from what knowledge can you assert with such conviction that what you say is the truth?

Do you have inside information that makes you state this?

Originally posted by ElectricUniverse
reply to post by ProtoplasmicTraveler

 

And from what knowledge can you assert with such conviction that what you say is the truth?

Do you have inside information that makes you state this?

There have actually been a few threads on ATS recently about News Articles stating that most of the Tarp Money never left the Fed and that most of what did leave the Fed was returned unused to the Fed.



[edit on 9/8/09 by ProtoplasmicTraveler]

Lets give it back to tax payers in the form of health insurance.


www.abovetopsecret.com...

reply to post by ProtoplasmicTraveler



I haven't seen any of those, what I have seen is that the Feds are printing money like there is no tomorrow, and they have bought the debt because no other country would buy it with this same money they keep printing like there is no tomorrow.

BTW, this is coming from the same people/group who the government set up for "transparency in government" and to keep track of this money, and this is what they are saying.

[edit on 9-8-2009 by ElectricUniverse]

reply to post by ElectricUniverse


That stinks for sure.
Kinda like when Donald Rumsfeld came out and stated 2.3 Trillion Dollars went missing at Pentagon and that was before Sept 11 and long before Bush started the bail outs, much, much more was actually unaccounted for.

So now that we know BOTH parties are stealing the country blind, what are we going to do about it?

reply to post by ElectricUniverse


www.abovetopsecret.com...

Here's one with video of Kucinich talking on C-Span.

Edit: Another with an article about it
www.abovetopsecret.com...

[edit on 8/9/2009 by EnlightenUp]

reply to post by ElectricUniverse


I'm sure they will start screaming national security then everyone will forget When are you gona wake up America, I been waiting for a long time.

reply to post by EnlightenUp


First notice that those statements are being done by a TARP representative...this news which i just posted is being reported by TARP also, and now they are stating "they don't know where the money is".

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]

If no one knows where the bailouts went, here is an idea, I pretty much can guarantee that and much more money went.

Our government is already purchasing our own debt to prevent the total collapse of our economy. Also it is going to the purchase of any and all assets in the stock market that actually have value-seen any of the info on Goldman Sucks manipulation software-surprisingly off the MSM radar.

We are Fracked and we just do not know it yet.
USA is the new Weimar Republic.

Originally posted by ElectricUniverse

So after the $3 - $4 trillion dollars that were lost under Obama admisnitration, and after claiming that these new bank oversights were needed, now we are finding out that the $700 billion bail out money can't be trace as to how it has been spent.

They are talking about 9 trillion dollars in the following video:

Originally posted by zorgon

Originally posted by Arbitrageur I don't think they are spending 80 billion a year on $600 hammers.

I don't think so either, nor do I believe that they 'lose' several trillion from the budget every year... it was 9 TRILLION 'unaccounted for' last fiscal year

If this doesn't make your blood boil I suggest having your pulse checked

FED has lent and spent 9 Trillion - Has no idea to whom or for what

Zorgon posted that here www.abovetopsecret.com... where it seemed a little off-topic, but it seems more on topic here so have a look, it's enough to make us angry. How can there not be more oversight on such huge sums of money???

Originally posted by ElectricUniverse
reply to post by EnlightenUp

 

First notice that those statements are being done by a TARP representative...this news which i just posted is being reported by TARP also, and now they are stating "they don't know where the money is".

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.

Hi. Nothing new here. But, good that it is out there anyway.

BTW, the bailouts started under bush under threat of martial law last october.
Remember, thousands wrote in and demanded it not pass.
Then two days later thousands wrote in demanding the opposite! hmmm
No wonder they(congress) are so mixed up! Cuz we are!

We demand change, but we are really just deathly afraid of it.
We enable the very rape in the first place and justify it somehow!
We participate in it and enable their astronomical paychecks.
A million here, a billion there, oh well........
Crazy stuff!
Dont forget the tax cuts for the rich and the false contract war also
led to this train wreck.

As much as obama is continuing this rape, he didn't start it.
The president and congress are the only ones who can go up against
the ptb. Will they? The history isn't promising.
Yes we are probably screwed. We must enjoy it.
Why else do we put up?

How many more clues will it take for (all) americans to finally wake up?
NO matter, the future is set anyway.
Or should I say game, set and match?
Thanks for the thread EU! S & F!





[edit on 9-8-2009 by dodadoom]

Find my earlier posts on the "Bankers Manifesto" You'll see what they are up to. The Federal Reserve is NOT part of our government. Your Yearly Income TAX only goes to pay the INTEREST on the money that the Federal Reserve prints and LOANS to the government through the banks.