Two Sets Of Books: A Felony For Everyone But Timmy

http://market-ticker.org/akcs-www?post=170317

Timmy is like a woman,
He has two sets of dishes
His everyday
And his good china for company.
The problem is book keeping records are not like china.
Anyone who looks must be able to see the everyday transaction
Monthly reports, quarterly reports as well as the yearly reports.
But Timmy is using two sets of books and that's called FRAUD, and it comes with a prison sentence.
Timmy takes no money from the United States.
That's right NO PAYCHECK.
He is not part of a government entity.
So no natural immunity there, can serve as his excuse.
In other words
Timmy's ass should be grass
And deserves a good cutting.
And this dude is running the country WHY?




Found in a 338-page release from SIGTARP (which, incidentally, is about as nasty a piece written about a Treasury Secretary by another government body as I've ever read - and is worth reading, if you can find the time for it) comes the following:

"While SIGTARP offers no opinion on the appropriateness or accuracy of the valuation contained in the Retrospective, we believe that the Retrospective fails to meet basic transparency standards by failing to disclose: (1) that the new lower estimate followed a change in the methodology that Treasury had previously used to calculate expected losses on its AIG investment; and (2) that Treasury would be required by its auditors to use the older, and presumably less favorable, methodology in the official audited financial statements."

Oh really Turbo? Let me put this one in English for you.

In the civilian world it is illegal to present one set of books to your investors, and another to the IRS. That's called tax fraud and, if you're a publicly-traded company, securities fraud. It exposes you to a nice date with Bubba at the Graybar Motel, and it should.

But government does this sort of thing all the time. It also allows firms it controls to do this. Remember the infamous "GM" claims that "it had paid back all of the taxpayer money"? Well sure, technically - but they did so by borrowing other money - from the taxpayers! Only in Government is taking a $20 from your left pocket and putting it in your right pocket "paying off a loan."

In the rest of the world we call this what it is: A scam.

Then there's the view on HAMP. Treasury argues that every single modification (including trials) is a success, making the claim that "every single person who is in a temporary modification is getting a significant benefit."

This is a bald lie. For those who are in temporary modifications but either fall out of

Treasury Shields Citigroup as Deletions Undercut Disclosure

http://www.bloomberg.com/news/2010-10-25/u-s-treasury-shielding-of-citigroup-with-deletions-make-foia-meaningless.html

The cover up of fraud and embezzlement is actually considered and accepted a "Trade Secret" by the Treasury.
What I want to know is:
How long will it be before we see the evidence of vigilante justice being meted out, by the betrayed taxpayers, of the United States?
With every day's new attempt by the various government entities to sugar coat the wide spread racketeering that the investment banks subject this country to, the odds of such an act, are being brought clearly into focus.
It's only a matter of time, and that time, is clearly growing short.



The late Bloomberg News reporter Mark Pittman asked the U.S. Treasury in January 2009 to identify $301 billion of securities owned by Citigroup Inc. that the government had agreed to guarantee. He made the request on the grounds that taxpayers ought to know how their money was being used.

More than 20 months later, after saying at least five times that a response was imminent, Treasury officials responded with 560 pages of printed-out e-mails -- none of which Pittman requested. They were so heavily redacted that most of what’s left are everyday messages such as “Did you just try to call me?” and “Monday will be a busy day!”

None of the documents answers Pittman’s request for “records sufficient to show the names of the relevant securities” or the dates and terms of the guarantees. Even so, the U.S. government considers the collection of e-mails a partial response to an official request under the federal Freedom of Information Act, or FOIA. The Justice Department in July cited an increase in such responses as evidence that “more information is being released” under the law.

GOP continues effort to thwart EU bailouts

http://thehill.com/blogs/on-the-money/801-economy/96571-gop-continues-its-effort-to-thwart-eu-bailouts

Don't hold your breath on that position is all I can say Cathy. I guess you didn't look at pg 159 or 160.

You wanna see the details behind Bank America's (BAC) exposure to Europe and the emerging markets? If you do, "turn" to page 159 & 160.
http://www.minyanville.com/businessmarkets/articles/todd-harrison-finance-markets-wall-street/5/7/2010/id/28187?camp=syndication&from=yahoo


Rep. Cathy McMorris Rodgers (R-Wash), vice chair of the House Republican Conference, on Thursday said the Dow losing approximately 348 points should signal the Obama administration that the Greece bailout will not help to restore the market.

"The market downturn supports the argument of bailout opponents that investors don't have confidence that the Greek bailout deal will work," she said in prepared remarks.

Rodgers and House Republican Conference Chairman Mike Pence (R-Ind.) also sent a letter to Vice President Joseph Biden urging him to oppose a potential bailout of Spain, which appears to be teetering toward financial crisis.

"Should Spain request a bailout from the IMF, we urge you to make it clear that the U.S. will oppose such a bailout, and do all in its power as the IMF's leading contributor to reject putting American money further at risk," they wrote. "The U.S. did not implement the policies that have caused Spain's debt issue and the U.S. taxpayer should not be put at risk to bail them out."

The lawmakers have already sent a letter to Treasury Secretary Timothy Geithner calling on him to oppose the $145 billion bailout of Greece, as well as future European bailouts.

Barofsky Says Criminal Charges Possible in Alleged AIG Coverup

http://www.bloomberg.com/apps/news?pid=20601109&sid=aVHMZwNcj2B0&pos=10

No lol that smell wasn't from Hank crappin in his pants back then, but there is a big possibility that it could be from Timmy crappin in his now.


Neil Barofsky was unpacking boxes in December 2008 when the stench of sewage wafted through the hallways at the 168-year-old Main Treasury Building. The space assigned to him as head of the Office of the Special Inspector General for the Troubled Asset Relief Program, or SIGTARP, was shoehorned into the basement, three floors below U.S. Treasury Secretary Henry Paulson’s offices.

Timmy, AIG, and the NYFED

http://biggovernment.com/fgaffney/2010/02/10/federal-reserve-bank-of-new-york-subpoenaed-in-aig-fraud-case/

It's time to pay attention kids, our country deserves the truth

Here’s the latest in the question of the New York Fed, Treasury Secretary Tim Geithner and the AIG bailout, as we’ve covered here at Big Government before (here and here). Last year, Iraq war vet Kevin Murray brought a lawsuit against the Treasury Department and Ben Bernanke (Murray vs. Geithner, et al) for its acquisition of AIG– a scheme that made the US taxpayer the world’s largest provider of Shariah-compliant insurance products. Lawyers David Yerushalmi and The Thomas More Law Center’s Robert Muise found, in the course of discovery, that that was just the tip of the iceberg.
AIG, NYFED


Yerushalmi and Muise quickly realized that, in acquiring 77.9% of AIG, the New York Fed may have set up an illegal trust, with the knowledge that what they were to do was illegal. Tuesday, Murray’s attorneys issued a subpoena for the Federal Reserve Bank of New York.

Here’s the latest update from David Yerushalmi:

Now that the court has allowed us to amend the complaint to add additional bad acts by the government (done and filed today) and at the same time rejected the government’s efforts to stay discovery and to end run to the Sixth Circuit Court of Appeals, and while we await the court’s ruling on our motion to force Secretary Geithner to sit for a 3-hr deposition, we have today sent out for service the following Subpoena for the Federal Reserve Bank of New York.

This deposition will effectively allow us to learn the government’s rationale (however lame) of the How and Why of the invalid and illegal trust used to gain control over AIG.

We are expecting a battle over this one because the real skeletons of this deal are here at the NY Fed where at the time (Sept-Dec 08) Secretary Geithner served as the president and de facto Treasury Secretary, having been tapped by Obama as the new administration awaited the inauguration in Jan 2010. To understand this, read through the attachments (Notice of Service of Subpoena Commanding Deposition Testimony and the Production of Documents, Electronically Stored Information, or Tangible Things) at the substantive information we are seeking. The rest, as they say, is just commentary.

In the meantime, America awaits a ruling on whether Treasury Secretary Geithner will have to tell “the truth, the whole truth and nothing but the truth” in a three-hour deposition.

Here are the questions from the subpoena:

Who was paidoff in the AIG bailout

http://www.huffingtonpost.com/2010/01/27/revealed-see-who-was-paid_n_438933.html

It wasn't just Goldman this little present was given to.
But by and large Goldman made out like a bandit

A key question at the heart of the controversial bailout of AIG is just how much money the government lost. The Federal Reserve and Treasury Department have worked to keep that number secret and to conceal who was on the winning end.

An unredacted document obtained by the Huffington Post list the damage in detail. Goldman Sachs alone, for instance, got $14 billion in government money for assets worth $6 billion at the time -- a de facto $8 billion subsidy, courtesy of taxpayers.

The list was produced as part of a congressional investigation led by the House Oversight and Government Reform Committee into the federal bailout of AIG.

The Federal Reserve Bank of New York, then led by now-Treasury Secretary Tim Geithner, purchased a slew of souring assets from the world's biggest banks for 100 cents on the dollar in November and December 2008. A scathing report by a government watchdog