More Tale Of The TARP

News of the release of documents detailing the shenanigans of the particular parties involved in perpetrating the 700 billion dollar fraud bank bailout, or Troubled Asset Relief Program, came out last week and didn’t really get the attention it was due, what with the Pretendident-as-Solomon’s first “Split the Fetus” tour stop at Notre Dame, and his fingernail clinging, bus undercarriage-headed Speaker of the House, Nasty Pancake’s, more-serious-because-chicks-have-a higher-standard, CIA never lies, and all going on.  The Freedom of Information documents obtained by Judicial Watch show that TARP, (or, as I’m sure it is known in certain circle jerks, the Rape of They, The Sheeple, those willing, clueless, hopium-addicted, changeling co-conspirators, who managed to both bend over and grab all of our collective ankles, while forcing everybody’s, theirs included, hands up in a “reach for the sky” surrender gesture at the same time, by electing the Chicago Robbin’ Hood whose vig to the Merry Band of Banksters who he fronted for was due) is  the cross-party, cross-administration, shady scummy scam we’ve all known it to be all along.  From Politico:

A series of emails and other documents released this week fill in dramatic new details of the Bush administration’s decision to bail out the nation’s largest banks – portraying Treasury Secretary Hank Paulson and White House aides as frantically reaching out to bank executives, the two presidential candidates and even a conservative think-tank to line up support for the plan.

The gist of the the story for publication is that on October 13, 2008, former Treasury Secretary, Henry Paulson, (R-Golman Sachs) gathered the top nine banksters in the country to his Turf for the Meeting, the New York Fed, then headed by Turbo Tax Timmy (Doogie Doofus) Geithner, tax cheat (TTTG,tc, I-Mars) where he and Da Boyz made the wayward Bankster Family Bosses an offer they literally couldn’t refuse.  “Sign da paper or else,” Paulson growled, and the greedy, yet cowed in the face of their own incompetence, Belittled Bankster Boyz reluctantly complied.  (insert mandolin music here)

Nice story, except that’s probably not what happened.  First of all, the Banksters claim not to have needed the money.  Yeah right.  Sure.  Umm-hmm.   And flu pigs fly, pigs fly flu, fly to the flu, my darlin’.  On the other hand, maybe some didn’t.  Second, the part which was not highlighted in any of the “news articles” (tee hee) I read about all this stuff, is that these are the same Big Bank Ballers who had been meeting pretty regularly with Hank, Timmy, Federal Reserve Chairman, Benny (the Jet) Bernanke, (?- ObamaLand) and FDIC Chairwoman, Sheila (the Skirt) Blair, (R- Lala Land) ever since early September when they got together over cannoli and decided to fit Lehman Brothers with cement shoes, and bankroll AIG.  All while the Presidential Election Follies and Traveling Road Show was being presented, and brought to the sheeple by KoolAid, as if the eagerly anticipated, foregone conclusion was a gift of manna-as-Divine Writ, ordained by a loving God upon his Second Begotten Son and those who truly believed.

The bailout occurred just 21 days before Election Day 2008, and the documents, which were obtained by Judicial Watch, suggested that that Paulson and the White House aides knew the political reaction was key – that too much criticism from Barack Obama, John McCain

or key interest groups could seriously complicate the deal.

So they started working the phones.

Obama got a call from Paulson that day – and ended up backing the plan. They tried to reach McCain but couldn’t at first. Instead, Bush White House official Joel Kaplan called McCain economics advisor Douglas Holtz-Eakin, who said “he had succeeded in backing down the ‘they are nationalizing the banks’ crowd … for now,” Kaplan wrote in an email that day.

Tee hee, hahaha, hardy har har, heh heh heh, na na nana, hey, hey, hey…Commmme onnnnn, people, geez, for goodness sakes, a’ready!  They got the guy on the phone who went to bat for the bailout in front of the Senate after the sheeple shook off the hopium hit long enough to shout, “whoa, dude,” and, enough low-on-the-totem-pole/payroll public servants, including most of the Congressional Black Caucus said “by me,” and voted down the first shakedown demand, but, the guy who said, “let’s screw the debate and work this thing out, was what, shacked up in the one quaint little cottage in America on the last remote stretch of beach Verizon hasn’t gotten around to establishing cell service for?  “A-yuh, we got no reception he-uh, Senatuh.  WiFi, ya say?  Might wanna check the General Stowah.”

On September 9, Lehman started to tank, their buyout plans fell through, and a buncha meetings took place at the New York Fed about their fate, with everybody but Lehman, like this one on Sept, 13:

An official from the Federal Reserve Bank of New York said participants include Treasury Secretary Henry Paulson, Timothy Geithner, president of the Federal Reserve Bank of New York, and Securities and Exchange Commission Chairman Christopher Cox. The New York Fed official asked not to be named due to the sensitivity of the talks.

Participants in today’s discussions at the offices of the New York Fed also include executives from Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup and Merrill Lynch. Representatives for Lehman Brothers were not present during the discussions.

Hmmm…Lehamn was unrepresented, but  an official from the New York Fed who doesn’t want to be named, was?  Geithner was named, he was President, Jamie Dimon of JP Morgan Chase was there, he was on the Board of Governors of the New York Fed …lesseee, who else could it have been in a big, high-level plotting strategy session three days before this press release about the $85 billion they had been authorized by Treasury to loan to AIG came out?  Jeffrey Immelt of GE/MSNBO, now one of the ObaMassah’s economic advisors, maybe?  Indra Nooyi, the Pepsi lady, perhaps?  Or, coulda been the Columbia University guy, Lee Bollinger, or the AFL-CIO guy, Dennis Hughes.

Who knows?  And, it couldn’t reeeaaalllyyy matter that MSNBO had this to say on Sept. 22:

Obama, the Democratic nominee, does not rule out retaining Mr. Paulson, a Republican. The two have spoken almost daily since Treasury put the mortgage giants Fannie Mae and Freddie Mac into government conservatorships two weeks ago, and Mr. Obama speaks highly of Mr. Paulson. ‘Getting a new person to start juggling those balls is going to be tricky,’ Mr. Obama said in an interview aboard his campaign plane Saturday. ‘Regardless of who wins the election, the issue of transition to the next administration is going to be very important. And it’s going to have to be executed with a spirit of bipartisanship and cooperation.’”

”But Obama advisers say it is more likely that he would pick someone new. The names bandied about before the financial crisis remain among the main prospects now, they say, though the turmoil has altered the calculations about each person. They include Timothy F. Geithner, 47 and a protégé of one of President Bill Clinton’s Treasury secretaries, Robert E. Rubin. As president of the New York Federal Reserve, Mr. Geithner has had a supporting role in managing the crisis. Also mentioned are two Clinton cabinet veterans: Laura Tyson, 61, former chairwoman of both the White House National Economic Council and the Council of Economic Advisers, and Lawrence H. Summers, 53, Treasury secretary for Mr. Clinton’s final year and a half. Both are economists and have been part of the core of advisers Mr. Obama has been consulting lately, along with Mr. Rubin and Paul A. Volcker, a former Federal Reserve chairman.”

Probably just a coinky-dinky that so many players at the time of the whole Lehman/AIG/TARP machinations ended up in the ObaCircle.  It was Bush’s Paulson who was holding the gun to the Banksters’ heads after all, wasn’t it?  Judicial Watch is just being snarky when they talk about some kinda coverup:

“These documents show our government exercising unrestrained power over the private sector. Despite promises of transparency, the Obama administration tried to cover up the very existence of these smoking-gun documents. And the cover-up continues, as the Obama administration protects Timothy Geithner by withholding a key document about his role in this infamous bankers meeting,” stated Judicial Watch President Tom Fitton.

Why, I’m even willing to bet that Bank of America’s Kenneth Lewis was lying through his teeth when he told Congress that Henry Paulson made him buy Merrill Lynch and keep quiet about the details at the Sept 15 follow-up meeting after Lehman crashed.  And all those meetings between Paulson, Geithner, etc., and the banksters were as clear-cut, above board, and beyond reproach as it was reported at the time.  This New York Times correction of a Sept. 27 article detailing Goldman Sachs’ CEO LLoyd  Blankfien’s attendance at the Sept. 15 meeting where Lehman Brothers and AIG’s futures were decided, proves that:

Because of an editing error, an article on Sunday about the financial problems of American International Group referred incorrectly to the timing and participants at meetings at the New York Federal Reserve between Saturday, Sept. 13, and Monday, Sept. 15. Although there were indeed meetings that weekend, there was also a separate meeting on Monday to discuss financial aid for A.I.G. Lloyd C. Blankfein, the chief executive of Goldman Sachs, was the only Wall Street chief executive who attended the Monday meeting, not the only chief executive who attended weekend meetings. Also, Henry M. Paulson Jr., the Treasury secretary, did not lead or attend the Monday meeting. (Both Mr. Blankfein and Mr. Paulson did attend the weekend meetings.)

There is absolutely no reason (fingers inserted in ears, singing lalalalalalaaaa) to believe that any of these guys were in on anything all along, just like news reports suggested at the time.  From the October 14, New York Times:

The executives did not have an inkling of Mr. Paulson’s plans. Some speculated that he would brief them about the government’s latest bailout program, or perhaps sound them out about a voluntary initiative. No one expected him to present his plan as an ultimatum.

See, so, these guys, who examine whether Barack Obama deliberately scuttled the original bailout vote in order to put lipstick on his own flu fly pig and shake it at the sheeple on the campaign trail like he cocked his legs for those horny chick reporters who thought him lookum so much goodum, they promptly forgot just why they there in the first place, are just haters:

The defeat of the bailout deal in the House yesterday afternoon and subsequent largest single-day points selloff of the Dow Jones index has put a white hot focus on the bailout as the single most important issue in the campaign. The stakes for Obama and McCain could not be higher as the candidate who is perceived by moderate, centrist swing voters as fashioning a solution will probably seize the inside track to the presidency. An interesting question to independent, centrist observers is whether Obama’s campaign did or did not intentionally scuttle yesterday’s bailout vote in order to deny McCain credit for fostering the bipartisan package. Some evidence supports both theories. It cannot seriously be contended that McCain scuttled the package as he suspended his campaign to push the deal and limited campaigning through the weekend to focus on pushing House GOP members to vote for the bailout.

And, those people who say JP Morgan Chase, the company that always seems to be in the mix, but not in the red, snookered Lehman and set them up for the fall, are obviously delusional.  Just because Jamie Dimon has known Barack Obama since Chicago when he was turning the dog Bank One into a show pony he could ride back to New York and the NY Fed board and the JP Morgan Chase CEO job doesn’t mean he’s in cahoots with the Obites, saying one thing in public and doing sumpin’ sumpin’ else in private.  Sure Jamie was at the March Business Roundtable conference where Obie let it slip that he had to “talk to Jamie” about stuff, but, there’d have to be at least one more meeting than that.

MR. PARSONS: So take it down to our industry, the banking business. At its core, it’s a very simple business: It takes funds from depositors and other providers of funding, and then it makes those funds available in the credit markets. And that’s how businesses grow, when people buy homes, and send their kids to college, buy cars, and all that sort of stuff.

THE PRESIDENT: Can I just say, Dick, it hasn’t been that simple lately. (Laughter.) But I get your theory, though.

MR. PARSONS: I said at its core.

THE PRESIDENT: All right, I’ll talk to Jamie. Maybe that’s — (laughter.)

Wouldn’t there?

http://www.youtube.com/watch?v=9fD1kfUKFlM