Jump to content
House Price Crash Forum
Sign in to follow this  
BROF

Us Treasury Attacked On Tarp

Recommended Posts

http://www.telegraph.co.uk/finance/finance...ed-on-Tarp.html

US Treasury attacked on Tarp

The US Treasury has been likened to convicted fraudster Bernard Madoff in the way in which it has refused to provide detailed information on its exposure to financial firms through its $700bn (£426bn) Troubled Assets Relief Programme (TARP) or the further extent of its financial involvement in shoring up the wider economy.

The criticism came just a day after Neil Barofsky, the TARP's special inspector general, estimated the Treasury's exposure to programmes dealing with the financial crisis could be as much as $23.7 trillion.

Congressman Darrell Issa said that the way in which the Treasury continued to refuse to provide regular detailed information on the value of its investments in financial firms was akin to Madoff reassuring investors in his Ponzi scheme. :lol:

Related Articles

Ben Bernanke to set out Federal Reserve's vision for US economy

Banks accused of 'mortgage rip-off' as they raise rates

Fed chief Ben Bernanke denies 'strong arm' claims over Merrill

Bonus culture to blame for banking crisis, say MPs

Taxpayers to plug £100m hole in MEP pension fund created by financial crisis and fraud

Meanwhile, Congressman Edolphus Towns likened the Treasury's approach to the US's approach to gay men and women in the military, saying "the taxpayers now have a $700bn spending programme that's being run under the philosophy of 'Don't Ask, Don't Tell."

Mr Barofksy, appearing before the House Committee on Oversight and Government Reform, hit out at Treasury claims that his $23.7 trillion number was "inflated," saying that it had been "actively obstructing our ability to determine what the true value of the [TARP] is worth." :blink:

http://www.youtube.com/watch?v=c4VnwSM5LEY

Share this post


Link to post
Share on other sites
mercy kaptur gave hima going voer too.a lot of thsoe congressmen have woken up of late

As long as it isn't a staged grilling, following by a back to normal straight after I'll be happy.

The clamour for Treasury officials and Goldman employees to be arrested for fraud is growing.

We need an an explanation of why Goldman was fast tracked into being a bank holding company so it could receive TARP, whilst for instance Lehman was allowed to go to the wall. I don't think there is a valid explanation.

The EU and US authorities should now look at breaking up Goldman and taking all the TARP assets and profit gained from them back.

Share this post


Link to post
Share on other sites
We need an an explanation of why Goldman was fast tracked into being a bank holding company so it could receive TARP, whilst for instance Lehman was allowed to go to the wall. I don't think there is a valid explanation.

Probably because Hank Paulson was an ex-Goldman employee, and he looked after his mates when he pleaded for TARP.

Share this post


Link to post
Share on other sites
Probably because Hank Paulson was an ex-Goldman employee, and he looked after his mates when he pleaded for TARP.

Well indeed I can't think of any other explanation at present. I am writing to my MP and select MEPs to get support for Uk and EU investigations, I urge you to do the same. Goldman will be brought down by this rest assured,

Share this post


Link to post
Share on other sites

I wonder if GOldman had STFU, continued to struggle and witheld mega bonuses, if the people would have noticed?

Bankers boasts and Masters of the Univers attitude is strong at Goldmans.

Share this post


Link to post
Share on other sites
I wonder if GOldman had STFU, continued to struggle and witheld mega bonuses, if the people would have noticed?

Bankers boasts and Masters of the Univers attitude is strong at Goldmans.

The Matt Taibbi article gained traction at the time the GS bonuses were being rumoured. Probably would have been easier to ignore if they didn't go on their bonus binge so quickly

The fact remains Lloyd Blankfein was present at the meeting to bail out AIG. No other bank chief was there. No-one has explained what authority he had to be at that meeting.

Dimon of JPM invited Rahm Emmanuel, Obama's chief of staff, to a JP Morgan board meeting. Emmanuel declined this week, after previously intending to attend.

I think it's crystal clear who US Government officials act for these days. Like the corruption of tory MPs in the dying days of Major, only on an epochal scale

Share this post


Link to post
Share on other sites
The Matt Taibbi article gained traction at the time the GS bonuses were being rumoured. Probably would have been easier to ignore if they didn't go on their bonus binge so quickly

The fact remains Lloyd Blankfein was present at the meeting to bail out AIG. No other bank chief was there. No-one has explained what authority he had to be at that meeting.

Dimon of JPM invited Rahm Emmanuel, Obama's chief of staff, to a JP Morgan board meeting. Emmanuel declined this week, after previously intending to attend.

I think it's crystal clear who US Government officials act for these days. Like the corruption of tory MPs in the dying days of Major, only on an epochal scale

Maybe Tony Blair will attend.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.