If we can prevent the government from wasting the labor of the people
under the pretense of caring for them, they will be happy. - Thomas Jefferson


Tuesday, January 26, 2010

Tell me more about the TARP

Thank heavens... Our government has finally decided that it might be in their interest to look into why just a few of our officials were able to funnel $180 BILLION of taxpayer money into AIG. Apparently some documents have come to light that were not submitted to the TARP Auditor.

AIG needed this money because they decided early on to pay the face value on their policies long after it was discovered that the face values were fictitious numbers made up by people who were content to drive their employers out of business in exchange for bonuses.

AIG paid much of this money to the folks at Goldman Sachs.

Goldman Sachs is the former employer of the few officials who funneled the $180 BILLION into AIG.

While I may be a bit taken aback by the fact that out of an entire country full of people, the only place we can find employees for the Fed and Treasury is Goldman, I'm not implying any dirty goings on. I don't know what happened and I don't know what decisions were made under duress, what decisions were about as wise as could be expected considering what they knew at the time and the tremendous pressures they faced.

I am a bit curious to know why those few officials did not provide all the information they had to the TARP auditor, why some documents are just coming to light now. Perhaps these documents were overlooked.

What I AM saying: Its a heck of a coincidence and it doesn't hurt to take a look at what really happened in the heat of the moment.

THIS is whyipaytaxes.

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