"the Fed may have paid billions more than necessary to banks including Goldman Sachs Group Inc. and Merrill Lynch.... Treasury Secretary Timothy Geithner, then president of the New York Fed, signed off on decisions that weakened the government’s bargaining position and made it difficult to pay the banks less than face value.... Buffett’s Berkshire Hathaway Inc. is the largest shareholder in Goldman Sachs"
I don't know how much longer I can do this.
I'm not even angry; just feel hurt inside.
They are NOT WORKING FOR YOU, America!
"Lawmakers seek Fed audit after critical AIG report" by Daniel Wagner, Associated Press | November 19, 2009
WASHINGTON - A group of House Democrats are stepping up demands for greater transparency from the Federal Reserve after reports that the Fed mishandled the bailout of insurance giant American International Group Inc.
The group, led by US Representative Elijah Cummings of Maryland, wants a congressional review of the Federal Reserve system. They want to allow congressional audits of the Fed as part of financial rules being debated by the House Financial Services and Senate Banking committees, according to a letter yesterday to the committees’ chairmen.
You better WATCH IT, Elijah!
The BANKSTERS have already threatened to RUIN the ECONOMY of you PRY into their affairs!
“Real financial regulatory reform cannot occur without an examination into the structure’’ of the Federal Reserve system, the letter says. Details on which banks benefited from AIG’s bailout never would have become known without demands from Congress, and a recent report shows flaws in the Fed’s structure as a regulator, the lawmakers wrote.
The letter follows sharp criticism Monday of the Federal Reserve Bank of New York and Federal Reserve in a report from Neil Barofsky, the special inspector general for the $700 billion financial bailout fund. Barofsky said the Fed may have paid billions more than necessary to banks including Goldman Sachs Group Inc. and Merrill Lynch, now part of Bank of America Corp., to cancel AIG’s contracts with them.
Treasury Secretary Timothy Geithner, then president of the New York Fed, signed off on decisions that weakened the government’s bargaining position and made it difficult to pay the banks less than face value for securities AIG had insured, the report says. The government has committed up to $180 billion to rescue AIG. Few expect all the money to be recovered.
You mean ANY of it, distorting and misleading MSM!
The Treasury Department now owns nearly 80 percent of the New York-based company and is trying to wind down its operations. Treasury and Fed officials argue that taking a tougher line with AIG’s business partners would have rattled financial markets already in crisis. They say AIG’s failure shows the need for new financial rules proposed by the Obama administration that would make it easier to wind down large failing financial companies.
What did the self-serving, agenda-pushing, globalist liars say?
In the lawmakers’ letter, they question the Fed’s effectiveness as a regulator and say there is an “inherent conflict’’ in the way regional bank presidents are selected. The presidents of the 12 regional Fed banks are elected by boards that include representatives of banks that the Fed regulates. Many in Congress have long demanded more transparency from the Fed. Those calls have intensified since the financial crisis erupted last fall.
There is an INHERENT CONFLICT in the FED'S EXISTENCE!
The House Financial Services Committee will consider amendments to its financial overhaul bill dealing with the Fed’s structure and transparency, Steven Adamske, a spokesman for the panel’s chairman, Barney Frank, Democrat of Massachusetts, said yesterday.
What, DIDN'T GET IT RIGHT the FIRST TIME after you had a YEAR on it, Barn!?
Related: Fed Uses Frank to F*** America
What a disgusting representative we have sent there!
Fed officials have resisted calls for a review of the central bank’s governance. They contend the Fed already is accountable except in the narrow area of monetary policy.
Yeah, and if you look any further will we f*** with that money supply, and you will find yourself out of a job, congressman!
--more--"
WASHINGTON - Treasury Secretary Timothy Geithner urged US banks to boost lending to small businesses and consumers, who still face “very challenging’’ credit conditions and rising unemployment.
“Banks bear some responsibility for the extent of the damage caused by the crisis,’’ Geithner said yesterday at a conference in Washington. “You carry a substantial obligation to help our communities get back on their feet.’’
Some? Some? HOW ABOUT ALL, you sickening piece of s***!!!!????
What a SICKENING PIECE of SELF-SERVING SLIME!!!!!!!!!!!
Yet Bank of America Corp.’s total loan originations in September fell 6 percent to $53.6 billon from a month earlier, and Wells Fargo & Co.’s new lending dropped 14 percent, to $47.4 billion, a Treasury Department report showed. The monthly surveys show lending patterns by the biggest banks receiving government funds from the $700 billion Troubled Asset Relief Program....
Yeah, because they are POCKETING the MONEY to BOOST PROFITS instead of lending it! Besides, NO ONE WANTS TO BORROW! We are SICK of DEBT even if we could get it or afford it!!!
Goldman Sachs Group Inc. announced plans Tuesday to join Warren Buffett to provide assistance to 10,000 small businesses. The $500 million charitable effort aims to provide help ranging from counseling to obtaining funding. Buffett’s Berkshire Hathaway Inc. is the largest shareholder in Goldman Sachs, which is based in New York.
Yup, GOLDMAN to the RESCUE of SMALL BIZ with a PISS in a CUP!!!!
Related: Here Comes Santa Claus' Sleigh
Breaking News: The Biggest Bonuses of All Time
Boston Globe Censorship: Getting Through to the Gates of the Buffett
NOW so MANY THINGS make sense!
“Without increased access to credit for American families and small businesses, growth will be weaker, companies will defer long-term investments, and we will not be able to create a recovery that is self-sustaining and led by private demand,’’ Geithner said....
SHUT UP, LOOTING LIAR!!!!!!
"Goldman will aid small businesses" By Associated Press | November 18, 2009
NEW YORK - Goldman Sachs Group said yesterday that it is launching a $500 million initiative, called 10,000 Small Businesses, to help employers overcome financial and educational barriers that can limit growth and the creation of jobs.
Yup, after THEY HAVE LED the DESTRUCTION of this economy and PROFITED MORE than ANY OTHER!! Now they are PISSING in a CUP and calling it "job creation."
The initiative includes a commitment by Goldman Sachs to invest $300 million through a combination of lending and philanthropic support. The money will be directed to community development financial institutions to increase capital and technical assistance available to small businesses in underserved communities. Goldman Sachs also said the program will contribute $200 million to community colleges, universities, and other institutions to provide scholarships to small business owners and to expand educational capacity.
Isn't it NICE that the ROBBER is GIVING YOU SOMETHING BACK?
Don't you LOVE HIM NOW!!!
In addition, small businesses will get advice, technical assistance, and professional networking opportunities through partnerships with national and local business organizations. An advisory council cochaired by Goldman Sachs chief executive Lloyd Blankfein will oversee the initiative.
Yup, the looting *ew is doing God's work!
Other cochairmen are the legendary investor Warren Buffett and Harvard Business School professor Michael Porter....
Well, we KNOW WHY Buffett is there now, too!!!!!
All done with your drink, 'murka?
Then HIT the GOLDMAN'S BUFFETT TABLE and CHOW DOWN!
Make sure you chew your s*** well!!!!!!
