Archive for November 11, 2008

Todd Harris baffles me! To quote a good friend of mine, huh?


The bail-out from hell just got worse, not only is the Federal Reserve refusing to identify the recipients of almost $2 trillion of emergency loans funded by the US taxpayers. They are also not disclosing what the  central bank is accepting as collateral, got any bridges? Now add to that, the latest changes to the tax code by Paulson (supposedly slid in while no one was looking) and you have a class A recipe for the taxpayer getting screwed with no kiss and no dinner. The cherry on top of this debacle is the spineless who are speaking on the condition of anonymity not doing anything about the massive taxpayer rip-off.

“We’re all nervous about saying that this was illegal because of our fears about the marketplace,” said one congressional aide, who like others spoke on condition of anonymity because of the sensitivity of the matter. “To the extent we want to try to publicly stop this, we’re going to be gumming up some important deals.”

Marketplace? Gumming up some important deals?  Some folks are trying to find their next meal or heat their home and could care less about deals. It is time for these corporate crooks to be investigated for Sarbanes-Oxley violations now! 
Consider that AIG just got busted having another “junket” to the tune of $343,000 while pleading with the Feds for 40 billions in loans. (Video here)

“AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property,” KNXV reported.

For more read this little piece of financial hell from the Washington Post.
Enough is enough.
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