Brad Sherman: Recycling TARP Funds Is Illegal

In consideration of the previous story, we felt it wise to consider again the prescient thoughts of California Congressman Brad Sherman (D-CA) who tells Geithner in no uncertain terms that "recycling TARP funds is illegal" under current law.

-----------

PLEASE email, facebook, re-tweet, share and take our stories with you when you leave.  Our only weapon against the madness is GREATER AWARENESS.  Just by sending this story to a few friends, you'll be contributing to the formation of an aggressive, educated voter base that understands the economic peril of our failed debt, deficit and spending policies.  Thank you.

-----------

Watch  (don't click unless you're coming from the email newsletter or RSS)

-----------

See also:

The Sherminator Annihilates Mark Haines and Erin Burnett

Get Our Videos Delivered By Email:

Subscribe to The Daily Bail by Email,  RSS  or Twitter

Comments

[Sell Short]

DailyBail,
Like the Author section. LOL! Keep up your work!

[Ain't Bullshittin']

Just because I feel your pain DB...I understand these bailouts better than Golf. How can a small ball that is NOT moving be so hard to put on a green?

[DailyBail]

How can a small ball that is NOT moving be so hard to put on a green?

Ah the eternal question. For me playing golf with my friends a few times per week helps me forget about bailouts, the markets, trading, etc. Plus I'm extremely competitive so it's a blast to talk shit for four hours to people I've known for decades.

The game will never be conquered but I will not give up trying.

[Ain't Bullshittin']

One absolute FACT in GOLF...."The harder you hit it...the MORE it misbehaves"....Author Unknown but one smart fellow....AB

[James H]

AB,

The problem isn't how to hit a ball that's not moving, it's how to get it stop rolling in the right place ;-)

[James H]

Add Bob Corker (R-TN) to the bailout heroes list. In a Senate hearing, he just called Geithner out on the supposed "lack of authority" to resolve companies like AIG. Corker said Geithner's claim was BS and that if he wanted to get resolution authority he could get it "right quick" -- if he wanted it. Instead, Corker, said, they've used AIG as a "honey pot" for their counterparties, and "there's something else driving" Treasury's actions. Ya think?

Bailout hero, Jim Bunning (R-KY) asked Geithner straight out if he or anyone else from Treasury or the Administration threatened or coerced Chrysler's bondholders and creditors in any way. Geithner's answer?

1. [ Pause for 8 full seconds]
2. "Uhhhhhhhhh...." [cocks head like the RCA dog]
3. [begins next sentence with: ] "Uhh, I belieeeeve...uhhh"

They did it. Geithner knows it. He's covering his ass. Otherwise, the answer would be "No" -- without the deer-in-th-headlights pause, without cocking his head like the RCA dog, without saying "uhhhhhhhhh".

Looks like the useful idiots (Congress) are coming over to our side. This is good.

[James H]

Geithner just asked by one of the Satanors (ht Ain't Bullshittin') whether any money gotten back from TARP would be returned to the General Fund or whether it would be recycled. Geithner's answer? Both! WTF? Wait till the Sherminator gets wind of this. (Why don't we all write him right now!)

[DailyBail]

I'm watching and looking for good video clips.

[DailyBail]

Go to the 9 minute mark of this video for comments from Senator Corker about giving Geithner 'one-off' authority to renegotiate CDS contracts with AIG counterparties.

http://www.cnbc.com/id/15840232?video=1128947286&play=1

[DailyBail]

The problem isn't how to hit a ball that's not moving, it's how to get it stop rolling in the right place ;-)

Indeed.

In this clip, the Senator Menendez from New Jersey asks point blank if Getihner will be asking for more bailout funds.

http://www.cnbc.com/id/15840232?video=1128920645&play=1

[DailyBail]

Just heard Geithner's answer at the 4:30 mark. No shocker, here. "No plans currently. Can't say for the future."

[DailyBail]

Senator Shelby on the problems with the Fed. This is good stuff. Part of the Geithner testimony this morning.

http://www.cnbc.com/id/15840232?video=1128913543&play=1

After listening to Shelby, go to the 12 minute mark for the Bunning questions about AIG payouts at par. Good stuff.

[James H]

Ok, Geithner only paused for a couple of seconds, but it felt like 8 full seconds. He still responded "Uhhhh...I belieeeeve....uhhh"

Translation: "I gots ta take da fif' on dis one, Senator."

[Ain't Bullshittin']

Just get used to the FACT that these bailouts are a BLANK CHECK. You cannot overdraw the account because the account holder OWNS the PRINTING PRESS.

[Ken]

Kucinich Resolution to End the War
Dennis Kucinich
December 10, 2009
Congressman Dennis Kucinich is circulating two “privileged resolutions” to trigger votes to end the wars in Afghanistan and Pakistan.

Congressman Kucinich, in a written release, earlier today stated:

“Today, I will begin circulating two privileged resolutions which will trigger debate and votes on a timely withdrawal of U.S. troops from Afghanistan and Pakistan.”
“Article I, Section 8 of the Constitution of the United States makes it Congress’ responsibility to determine whether or not we go to war or stay at war. Consistent with Article I, Section 8, the privileged resolutions will involve the War Powers Resolution of 1973. I ask for your support of these resolutions, which will be introduced in the House in January.”

“Yesterday, with the U.S. Secretary of Defense at his side, the President of Afghanistan declared that his country’s security forces will need financial and training assistance from the United States for the next 15-20 years.”

“We cannot afford these wars. We cannot afford the loss of lives. We cannot afford the cost to taxpayers. We cannot afford to fail to exercise our constitutional right to end the wars.”

“Please sign onto the privileged resolutions to end the wars and to bring our troops home.”

“Stand up for our troops. Stand up for the truth. Stand up for the Constitution and Congress’ responsibility.”
http://www.youtube.com/watch?v=1G2uDdAQwMk&feature=player_embedded

[Ken]

How Does The White House Keep The Ponzi Scheme Going? (UPDATED)
http://logisticsmonster.com/category/impeach-obama/

BRAIN FOOD FOR THOSE WHO GIVE A DAMN

It's time we drew a line in the sand.

If ever there was a time to revolt ... "It's now."
That's what our founding fathers recommend when all else fails.
We no longer have a government. We now have a club of
indictable, murderous, establishment criminals.

[Ken]

Statement Introducing the Free Competition in Currency Act
Ron Paul | December 9, 2009

Madame Speaker, I rise to introduce the Free Competition in Currency Act of 2009. Currency, or money, is what allows civilization to flourish. In the absence of money, barter is the name of the game; if the farmer needs shoes, he must trade his eggs and milk to the cobbler and hope that the cobbler needs eggs and milk. Money makes the transaction process far easier. Rather than having to search for someone with reciprocal wants, the farmer can exchange his milk and eggs for an agreed-upon medium of exchange with which he can then purchase shoes.

This medium of exchange should satisfy certain properties: it should be durable, that is to say, it does not wear out easily; it should be portable, that is, easily carried; it should be divisible into units usable for every-day transactions; it should be recognizable and uniform, so that one unit of money has the same properties as every other unit; it should be scarce, in the economic sense, so that the extant supply does not satisfy the wants of everyone demanding it; it should be stable, so that the value of its purchasing power does not fluctuate wildly; and it should be reproducible, so that enough units of money can be created to satisfy the needs of exchange.

[Ken]

USA Dollar destruction TNT bomb today: Very poor reception of Bond Auction today

TORA TORA TORA Warning now

USA bamboozled generation get ready for DEPRESSION CYCLE launch in 2010

MASSIVE LAYOFFS begin end of Jan2010...........

OBAMA and His CRIMINAL FINANCIAL TERRORISTS Advisors sealed our USA Republic Fate

[Ken]

“"The liberties of our country, the freedoms of our civil Constitution are worth defending at all hazards; it is our duty to defend them against all attacks. We have received them as a fair inheritance from our worthy ancestors. They purchased them for us with toil and danger and expense of treasure and blood. It will bring a mark of everlasting infamy on the present generation – enlightened as it is – if we should suffer them to be wrested from us by violence without a struggle, or to be cheated out of them by the artifices of designing men." -Samuel Adams”

Bloodless coup to overthrow the Obama/Pelosi/Reid troika. If this juggernaut is not stopped at the ballot box, however; the path to secession movements or other action may fall into place. I fervently pray this does not happen. But I see no way out but a violent civil revolt will unfold.

[Ken]

Kucinich: Afghan War is a Racket!
http://www.youtube.com/watch?v=D-AaZTqIHp8&feature=player_embedded#

[Ken]

So awesome!! The Ron Paul Revolution has no boundaries! The ideas of liberty are not limited to one country. It is for the entire world to embrace, but only if people so choose to. Thank you Norway for the support for liberty and your excellent Metal music!

Videos: Norwegian Ron Paul Supporters Protest Obama "Peace Prize"
http://www.youtube.com/watch?v=4VbOVXdAiqU&feature=player_embedded

Ron Paul: War-monger Obama should have returned Nobel Award
http://www.youtube.com/watch?v=e3zp33tYrlE&feature=player_embedded

[DailyBail]

interesting links...