Tuesday, November 3, 2009


Most Americans have opposed the TARP program under Bush and the subsequent big spending bills that were passed under Obama. Somehow, without knowing the details, we've had this gut feeling that we were being hoodwinked. At first we only worried about the secrecy surrounding the problem, the bills, and about the distribution of the money.

Later we began to read investment newsletters and financial blogs that spoke of the perpetrators (primarily Paulson, Bernanke, and Geithner) as participants in a massive fraud program that paid off their buddies at the big banks, especially Goldman Sachs, while bleeding the taxpayers.

I didn't know any real details until I saw this article last week at Bloomberg.com, New York Fed’s Secret Choice to Pay for Swaps Hits Taxpayers. I suggest you read it to at least discover Stephen Friedman's conflicts of interest as board member of Goldman Sachs and former chairman of the board of the NY Federal Reserve and his personal profit of $5,400,000 on the Goldman Sachs stocks he bought in a, ahem, timely manner.

On a similar note, but easier to digest, is this video from MSNBC: "Banks Have Taken Over The Government And Made Taxpayers Slaves To Bank-Run Gambling Casinos"

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