TARP Cop: 20 Criminal Probes Opened
He's also looking into the AIG disbursements to counterparties, which will open a fresh can of worms:
WASHINGTON (CNNMoney.com) -- The top cop tracking the government's $700 billion bailout program said Tuesday that he has opened 20 criminal investigations and six audits into whether tax dollars are being pilfered or wasted.
Neil Barofsky, the special inspector general overseeing the Troubled Asset Relief Program, released a 250-page report detailing a long list of concerns about government efforts to prop up hundreds of banks, Wall Street firms and auto companies.
Barofsky, whose investigations could lead to criminal charges, told CNNMoney.com in an interview that he wants taxpayers to understand where their money is going. At the same time, he wants to alert officials to weaknesses in TARP that could invite corruption or fraud.
Bug - or feature? Hmmm.
"Our recommendations are forward looking and there are no vulnerabilities that can't be addressed," Barofsky said. "The balance of what we're trying to do is to inform, bring transparency and make appropriate recommendations."
The report reveals that Barofsky is looking into whether bailout decisions were influenced by those who stood to benefit from them and whether companies receiving bailout dollars are adhering to caps on executive pay.
Barofsky's report also makes several recommendations to Treasury Secretary Tim Geithner and other officials charged with implementing the bailout. Among them: Require all TARP recipients to detail how they use bailout dollars and safeguard a new mortgage rescue effort against scams.
much ado about nothing , this rush obama stampeded the bail out bill thru for was about hideing where the bucks were going, mass confusion , massive frauds!
you need to go back and look at the previous administration.... cant dust this one under the rug asshole.
get the book thrown at them!
... just give me the money instead. I promise to spend it responsibly.
Yeeshh...
I hope those weren't proctologists criminal probes opened.
Diabolus est Deus Inversus
I dont mean to be cynical but no shit! Where the fuck has this guy been hiding all this time? Well, I guess I should be glad that he is doing something now, but funny the timing....
HAPPY EARTH DAY!
http://www.gamerevolution.com/images/misc/gal...
(Now go right out and eat a planet.)
Diabolus est Deus Inversus
just repeat the same old negative bullshit, making groudless accusations without backing them up with facts and sound like a broken record.
And it's becoming quite tiresome.
Or like newt's rapping.
Diabolus est Deus Inversus
or gregory's, or rove's
I know what you mean. Deep down (no facts), I feel quite certain, with hundreds of billions of tax-payer dollars on offer, nothing could go awry.
far left loon >.<
Happy Earth Day indeed! And no, this Bush-grab pile-o-poo can not be swept into the dust bin, or down the memory hole. Anyone spending federal funds is subject to fraud waste and abuse oversight - if you don't want the oversight, don't take the money!
Once again in their effort to appease the fascism that has taken over Commercial/Political discourse, the political class handed a blank check to corrupt business interest.
If you cannot trust the same management practices that put us in this position who can you trust, asks Congress?
So Congress, led by Reid and Pelosi, now are faced with the possibility of creating a new branch of government just to cover their asses.
The only two leaders currently in Congress that could be any more incompetent than Reid/Pelosi would be McConnell/Boehner.
It will be a cold day in hell before I can trust another Repug, but if given a choice I would never have trusted Reid or Pelosi to lead us out of this Repug induced nightmare.
'Talk to the hand'
...NATIONALIZE THE FUCKING BANKS ALREADY!!!
Monkeys will fly out of Rush Limbaughs fat ass before that happens.
The same people who are funding political campaigns are opposed to nationalization.
Their money carries the day.
'Talk to the hand'
I was just venting. Have to admit that I would pay good money to see the monkeys though.
Are they sperm banks?
Diabolus est Deus Inversus
...sperm banks have far more "liquidity".
.........our business is doing quite swimmingly!
Max Dildeaux CEO l'Grande banc de Sperm
'Talk to the hand'
Wed, 04/22/2009 - 07:28 — DevilDog21
http://www.youtube.com/watch?v=Y5PJlGqY3wo&fe...
Diabolus est Deus Inversus
Trying to be positive I hope they are also looking at asset seizures as a part of their investigation. Do like they do to suspected drug dealers, seize first (no trial necessary) and force them to prove it's not dirty money.
Oh, and whatever happened to that retroactive tax on the bonuses that were recently paid out?
That was a rhetorical question btw...
Though John Edwards has wrecked his reputation and probably his political career, he was certainly right about one thing:
You can't "nice" these people to death
...keep his dick in his pants, doesn't mean he doesn't know what he's talking about. Thanks for the link.
"The report reveals that Barofsky is looking into whether bailout decisions were influenced by those who stood to benefit from them"
Maybe we should ask Sen. Feinstein's Husband. Where is the blog about this outrage? David? Joe? Anyone?
Here is part of the article in case anyone missed it.
On the day the new Congress convened this year, Sen. Dianne Feinstein introduced legislation to route $25 billion in taxpayer money to a government agency that had just awarded her husband's real estate firm a lucrative contract to sell foreclosed properties at compensation rates higher than the industry norms, the Washington Times reported on Tuesday.
Mrs. Feinstein's intervention on behalf of the Federal Deposit Insurance Corp. was unusual: the California Democrat isn't a member of the Senate Committee on Banking, Housing and Urban Affairs with jurisdiction over FDIC; and the agency is supposed to operate from money it raises from bank-paid insurance payments - not direct federal dollars.
Also...
Documents reviewed by The Washington Times show Mrs. Feinstein first offered Oct. 30 to help the FDIC secure money for its effort to stem the rise of home foreclosures. Her letter was sent just days before the agency determined that CB Richard Ellis Group (CBRE) - the commercial real estate firm that her husband Richard Blum heads as board chairman - had won the competitive bidding for a contract to sell foreclosed properties that FDIC had inherited from failed banks.
About the same time of the contract award, Mr. Blum's private investment firm reported to the Securities and Exchange Commission that it and related affiliates had purchased more than 10 million new shares in CBRE. The shares were purchased for the going price of $3.77; CBRE's stock closed Monday at $5.14.
...I believe part of the reason that impeachment was "off the table" was because she was in bed with Bush (figuratively) on torture. She knew what was going on and did nothing to bring it into the light of day, making her as guilty as Bush, et al.
Like so many politicians before her, she has been in office way too long and has way too much power to affect things like this.
It's time for term limits.
Is this not the kind of thing you guys are pissed about?
David Kellerman, 41 year-old acting CFO of the troubled Freddie Mac since September, was found dead this morning, thought to be a suicide. Police haven't released details yet.
Is this the same type of "suicide" as the DC madame, the anthrax mailer, and David Kelley?
Almost certainly.
The "coincidence" factor is just as amazing as any of those 3. Hmmm, time to start the prosecutions? Time to start the heart attacks and suicides.
If it were the previous administration, six years would have passed before anything happened.
Let me get this straight.
When a criminal steals money from the TARP funds, it can be BILLIONS at a whack and it's called "PILFERING"?
But when someone steals twenty bucks at a gas station they go to prison?
It's called ROBBERY.
Do these investigations include TARP recipients who are spending millions to lobby Washington? They had better.
This was announced and today...
Kellermann's Death Is Latest Shock To Freddie Mac
The sudden death — an apparent suicide — of Freddie Mac's acting chief financial officer David Kellermann is the latest shock to ripple through the federally backed housing agency. Since essentially being taken over by the government in September, it has been one hit after another for Freddie Mac — a private company that, with sister-agency Fannie Mae, holds or guarantees more than half of all U.S. residential mortgages and finances some 70% of new-home loans, and which the Obama Administration counts on as a cornerstone in its plans to revive the housing market.
MORE AT LINK
Presented without comment. For now.
by
Former Treasury Henry Paulson.....
who was also former Chairman,
and Executive Officer of Goldman Sachs,
also wanted it right away..
remember the articles of
"golden parachutes"
which also came out???
remember this story?
http://www.rawstory.com/news/2008/Bush_Admini...
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