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The AIG Bailout Was Illegal and Was The Real Reason for TARP.
invite response
2014 Oct 16, 12:36am 3,509 views 5 comments
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These financial Mafioso should be indicted as an ongoing criminal conspiracy under the RICO Act.
The bailout & everything that followed is what Republican & Democratic voters want.
And of course there is nothing they could do about it. LOL & FMTT
Shaman
2016 Jan 22, 4:41pm
@hey you,
Dude, we get it, voters need to make better choices to turn the country around. They need to get active and choose candidates that represent them and not the wealthy elite. Neither republicans nor democrats have fit this bill in a long time.
But I think America is starting to get it. The front runners are Bernie and trump, which is giving the establishment fits in both parties. Which is great!
So please, just stop posting the same exact thing every time. It's beyond boring, and adds nothing to any discussion. I remember when you used to have more thoughtful posts. How about a return to that?
Nearly 2 years later and he is still at it.
"Why did Bernanke want TARP so badly? Because the Fed needed Treasury to get the authority to buy shares, so Treasury could take the Fed’s illegally held AIG shares off their hands.
In other words, we learned that AIG was bailed out by the Federal Reserve because Paulson, Bernanke and Geithner wanted it bailed out by the Federal Reserve. They exceeded their legal authority to buy AIG for the government, and then lied about it. The $700 billion Troubled Asset Relief Program then bailed them out of this jam.
What’s really interesting is not just this allegation, but how the New York Fed — run at the time by Tim Geithner — tried to hide it. Here are several examples of New York Fed officials explicitly trying to avoid the Freedom of Information Act, as well as SEC disclosure requirements. "
https://medium.com/@matthewstoller/hell-hath-no-fury-like-a-bankster-scorned-8993ec09c8b7