celticlord
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Judicial Watch Forces Release of Bank Bailout Documents | Judicial Watch
Whatever doubts, dislikes, misgivings, and bad vibes I have had about TARP pale in comparison to what these documents show. Hank Paulson, in collusion with Tim Geithner, Ben Bernanke and Sheila Blair, ambushed and coerced the 9 largest banking institutions in the US to accept TARP funds. There was no negotiating; the CEOs of the banks had to even hand write the name of the bank they represented and the amount of preferred capital stock they were forking over to the government.
This is NOT how government is supposed to work. Hank Paulson, Tim Geithner, Ben Bernanke, and Sheila Blair need to be hauled before Congress to explain themselves under oath. All four need to be investigated; it's hard to fathom how their TARP tactics could be legal.
Politico also has an article summarizing this:
New documents shed light on TARP action - Eamon Javers - POLITICO.com
Everyone needs to read this. Everyone needs to read the PDFs of the documents linked to this. Everyone needs to write their Senators and Congressmen and tell them to read this.Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it forced the Obama administration to release documents about the October 13, 2008, Treasury Department meeting that coerced major banks to allow the government to take $250 billion equity stakes. Among the other news, the documents confirm former Treasury Secretary Hank Paulson told the CEOs of nine major banks that they had no choice but to allow the government to take equity stakes in their institutions. The documents show Obama Treasury Secretary Tim Geithner, FDIC Chairman Shelia Blair, and Fed Chairman Ben Bernanke co-hosted the meeting with Paulson.
Whatever doubts, dislikes, misgivings, and bad vibes I have had about TARP pale in comparison to what these documents show. Hank Paulson, in collusion with Tim Geithner, Ben Bernanke and Sheila Blair, ambushed and coerced the 9 largest banking institutions in the US to accept TARP funds. There was no negotiating; the CEOs of the banks had to even hand write the name of the bank they represented and the amount of preferred capital stock they were forking over to the government.
This is NOT how government is supposed to work. Hank Paulson, Tim Geithner, Ben Bernanke, and Sheila Blair need to be hauled before Congress to explain themselves under oath. All four need to be investigated; it's hard to fathom how their TARP tactics could be legal.
Politico also has an article summarizing this:
New documents shed light on TARP action - Eamon Javers - POLITICO.com