Tag Archives: TARP

The Truth About TARP: Bernanke Lied To The Public And Perpetrated A Crime

U.S. Code § 1001:     a) Except as otherwise provided in this section, whoever, in any matter within the jurisdiction of the executive, legislative, or judicial branch of the Government of the United States, knowingly and willfully – (1) falsifies, conceals, or covers up by any trick, scheme, or device a material fact; (2) makes any materially false, fictitious, or fraudulent statement or representation; or (3) makes or uses any false writing or document knowing the same to contain any materially false, fictitious, or fraudulent statement or entry; shall be fined under this title, imprisoned not more than 5 years…(18-USC-1001 link)

My colleague and good friend, John Titus has written and produced an absolutely stunning video documenting the fact that Fed Chairman Ben Shalom Bernanke knowingly lied to Congress when he testified to members of Congress in Nancy Pelosi’s office – and then to Congress at-large – that the $700 billion Taxpayer bailout was required to prevent a collapse of the entire economic system and specifically the commercial paper market.

Titus shows with hard evidence directly taken from Fed documents that the “Main Street” commercial paper market or the main street economy was never at risk.  Nancy Pelosi may be a stark-raving lunatic and corrupt to the core (I would suggest that her husband, a commercial real estate magnate benefited from the big bailout of Wall Street), but Bernanke broke the law and he knew he broke the law.    After you watch this 11-minute video, please pass it along to anyone you know who might still care about this country:

Just to be clear here, TARP was a $700 billion transfer of Taxpayer money to the big banks. A large portion of that money was paid out to the Jamie Dimons and Lloyd Blankfeins for their huge bonuses that year. Treasury Secretary Henry Paulson – who should also be in jail – benefited from the TARP bailout because it saved the value of the $200 million in Goldman Sachs stock warrants he still owned.

The economy was never in danger of collapsing. Yes, the Wall Street controlled financial markets might have experienced a brief disruption, but it would have been a useful device to clean up and reform the interminably corrupt Too Big To Fail Banks.

Our country has “crossed the Rubicon.” There’s no turning back. The elitists running what is left ouf our system will take no prisoners. Unfortunately, it looks like my view that we’re headed for war with the world is starting to unfold…U.S. Upset At West’s Lack Of War Prepardness