Tuesday, March 24, 2009

Greed in the Obama Administration Treasury Department

While America has been focused on Wall Street greed, the Obama administration has been fighting its own personal demons of greed.

"Frank Brosens, a hedge-fund manager and big Democratic donor, was considered the top contender to run the Treasury's Troubled Asset Relief Program." Treasury's Top Candidate to Run TARP Drops Out, The Wall Street Journal.

After reviewing the TARP plan, the Taconic Capital hedge fund co-founder dropped out of running for the treasury job so that his hedge fund can take a prime position in the auctions to acquire billions of dollars of tax payer matching funds. Special consideration from the Treasury Department and administration will guarantee obscene profits for Taconic Capital.

Not only is this move greedy, it flies in the face of patriotism. Wouldn't you think that the well-being of millions of Americans would override Democratic greed?

Taconic Capital should not be eligible for the TARP plan after this greedy outrage, but the administration's greed does not stop there.

After learning that Chris Dodd specifically added the amendment to give bonuses to AIG, we have now found out "Chris Dodd's Wife Also Paid by AIG".

Personally that is enough greed for me, but it keeps on coming...

Fifty billion of the Spendulous package is targeted directly for Al Gore's Alliance for Climate Protection green investments. At the cost of scientific reality and the US economy (CO2 Rules: The Anti-Stimulus) the administration is blatantly lining the pockets of its contributors.

Maxine Waters under scrutiny for bank ties as her husband is supposed to be on the board of a bank that was given $12 million in immediate bailout money. OneUnited Bank of Massachusetts, whom the Waters are shareholders, apparently did not have to go through the regular channels and was awarded money when they showed up for a congressional hearing.

"Treasury officials told the newspapers that Waters didn't tell them her husband, Sidney Williams, served on the bank's board of directors and has owned at least $250,000 in stock in the institution.

The bank, then considered to be in a precarious condition, received $12 million in December from the Troubled Asset Relief Program (TARP), which was intended for healthy banks" according to Fox News. Barney Frank is also reported to be advocating this bank.

After spending $160 million on the inauguration, I suppose the rest is just par for the course...

Stand up with us against this outrage at http://www.doodooecon.com./ Grab a t-shirt and let everyone know what you think about this literally unbelievable Obama administration!




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