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How Bernanke Lied To Congress To Pass The Bailout


Bernanke's attempts to conceal his lies about TARP were ultimately undone in federal court, but no one in the media noticed.

By John Titus

More than six years after Congress passed TARP, the image of the stupendous $700 billion bailout swooping down like Mighty Mouse in his little pinstripe cape and green visor to save the day for everyone--not just Wall Street--has been bludgeoned into America's consciousness so relentlessly that it's almost above challenge.

Almost, but not quite.

According to a brand new video produced by a longtime dailybail.com correpsondent, what's been propping up this dubious cartoon version of history isn't any actual evidence--there isn't a shred of that--but rather a concerted media campaign hyping TARP as a success to the general public, facts be damned.

The black and white evidence of what was actually going on back in September 2008 reveals a much different reality than Mighty TARP Mouse promoters have had it all along.

In fact, Main Street's credit markets were functioning so smoothly throughout the crisis that it's impossible to tell from the data that any crisis was occurring at all. The media's entire campaign of a meltdown was based not on any evidence but rather on panic brought on by stock prices that were plummeting into the teeth of Wall Street's bonus season.

Today, the success of the media's pro-TARP campaign can be measured by the absence of any voice challenging the orthodox view of the TARP panic, with a particular void in the visual media challenging Mighty TARP Mouse.

On TV, any "debates" that address bailouts--and what must be done to avoid them in the future--proceed on the assumption, rarely mentioned and never questioned, that the 2008 bailout was essential to the well being of Main Street in the first place.

Levitating above these illusory debates is Mighty TARP Mouse Himself, so secure in His own Holiness that even idly wondering aloud if he's bullshit is regarded as an act of heresy.

Even movies that are carefully marketed as renegade challengers of the status quo in fact grovel before the Mighty Rodent--exactly like the herd these films purport to incite. Michael Moore's Caplitalism: A Love Story (2009) and Charles Ferguson's Oscar-winning Inside Job (2010) both offer up their personal sacrifices of the truth, overlooking the wealth of pubicly available data that expose Mighty TARP Mouse as a laughable fraud.

In the place of genuine journalism in America, we have a cartoon-worshipping caste system. Mainstream media's job at the top is to hand down bullet points on a given topic to "alternative" media outlets, which make meek adjustments and--if those are deemed acceptable--fob off minor variants of the orginal story memos onto the Starbucks crowd, which is too busy patting itself on the back to sniff out this colossal con job. Beneath this shameful dung heap lie the foulest and most disreputable outcasts--facts and evidence--which are unfit for Nirvana--the coveted iPhone screen.

Image courtesy of WilliamBanzai7

The result of all this is a belief system that frequently finds zero support from any evidence. Far from being seen for what he is, namely, a way to dupe Congress into forcing the public pay Wall Street bonuses that year, Mighty TARP Mouse is a sacrosanct religious icon in American intellectual life. This is purely the product of media myth repetition in a zombie monotone that would turn the most devout prayer-chanting church acolytes green with envy.

Coming from a culture that prides itself on rationality, scientific inquiry, and evidence, the blind and unflinching faith in Mighty TARP Mouse is odd to say the least, and speaks to very deep denial about what the media's real function is. Jesus H. Christ, at least there's some evidence of, well, Jesus.

It is in this pititful wasteland that a new video has just arrived attacking the $700 billion Mighty TARP Mouse with a ferocity that is at once truculent, downright rude, and refreshing, which is to say, with facts and figures.

Based on years of tireless research right here at dailybail.com, which since its inception in 2009 has defiantly pointed to mountains of evidence that the uniformyly pro-bailout media (yes, that means you too, Glenn Beck; you changed your mind only after TARP passed) is no different than the zealous flat-earth clerics of the Middle Ages, the video uses documents from the U.S. Federal Reserve to pick apart Mighty TARP Mouse so thoroughly that not even a carcass is left; even the Mouse's bones turn out to have been holograms.

Yet even the video's clinical carving apart of Mighty TARP Mouse, as efficient as it is--the entire video is 11 minutes long--doesn't represent the real achievement here.

That distinction belongs to the fate of Mighty TARP Mouse's creator, one Mr. Benjamin Bernanke, whose motives for pushing the false bailout image onto the public are fully revealed and downright shocking.

It's the road less traveled that the video takes--through the Fed's own documents and its legal efforts to conceal its bailout efforts on behalf of global megabanks--that's such an eye-opener. Shouldn't this road of hard evidence be paved by now?


Using a timeline of events, the video reveals that then-Chairman of the Federal Reserve Ben Bernanke "knew he was lying to Congress when he told them" that Main Street needed a bailout to avoid imminent collapse.

The video documents the fact that at the same time Bernanke was telling Congress that Main Street was in dire straits, he was in fact secretly planning an even bigger bailout than TARP, one that altogether excluded Main Street. Moreover, Mr. Bernanke gets impaled on the Fed's own research, which shows that Main Street markets were immune from the panic on Wall Street.

What's more telling yet is that the Fed waited to announce its own bailout, called the "Commercial Paper Funding Facility," until 4 days after TARP narrowly passed Congress amid Main Street fury.

As the video points out, had the Fed tipped its hand that it was about to unleash its $800 billion CPFF facility before TARP passed--a facility that excluded Main Street by design and included foreign megabanks instead--Congress might have started asking Bernanke questions about whose bacon Mighty TARP Mouse was really saving.

What is more, after the CPFF disbursements had been made across the globe, Mr. Bernanke refused to answer exactly that question. Instead, he concealed the fact that most of the $800 billion went to foreigners. Bernanke and the Fed then took their fight for concealment of names and numbers all the way to the U.S. Supreme Court, ultimately losing to a lone and determined reporter from Bloomberg named Mark Pittman.

Somehow the media missed out on this very real and very poignant David vs. Goliath story.

The video's timeline ties all of these events together in a scathing expose of Mr. Bernanke's false representations to Congress, as well as his motives for making them. The video leaves no doubt that Mr. Bernanke cared for Main Street only insofar as he could use it as a character in his fictional tale of danger that he was selling to Congress.

And Lo! The Immaculate Conception of Almighty TARP Mouse came to pass.



The video, "Ben Bernanke's Sovereign Deception," is available in full HD on youtube and was produced by John Titus, a patent litigator in the federal courts and a longtime conributor to dailybail.com


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Reader Comments (84)

Morning Skin. Got a really bad feeling about all of this shit.
Aug 3, 2015 at 10:33 AM | Unregistered Commenterjohn
John, Eff it. I am somewhat taken aback that that stuff hasn't hit the fan yet. Just waiting for the acorns to fall and harvest them. Hickory nuts are getting ready and I have to be quick, the deer up here are many. They just wail away on the corn and soy beans, but when the hickory nuts fall, all things come to a halt and they haunt those trees like you wouldn't believe. The wild blue berries were delicious this year as were the black berrys and the mulberry trees were plentiful earlier. Splitting wood now and getting ready for winter cause you know just how great these long summer days are with the full moon, that winter aint far behind. Hang in there.
Aug 3, 2015 at 11:35 AM | Unregistered Commenterskinflint
This'll get you arrested in Russia. Wonder if one could get away with this in DC?
Aug 3, 2015 at 5:12 PM | Unregistered Commenterskinflint
Aug 7, 2015 at 12:40 PM | Unregistered Commenterskinflint
Rainman gets 14 years. This after cooperating with prosecutors and admitting his bosses knew he had been rigging libor rates.
Former IMF official steps down as Greece's statistics department after being accused of rigging the numbers against his own countrymen. Jesus, how can it get worse for these people.
Aug 10, 2015 at 10:00 AM | Unregistered Commenterskinflint
Rail traffic down 6.5 per cent from a year ago in July. Damn.
Aug 10, 2015 at 11:05 AM | Unregistered Commenterskinflint
Another drop in rail traffic. The hits just keep coming. There is also a glut in crude traffic. This kind of shit leads to wars and all the rest of it. WTH?
Aug 23, 2015 at 1:39 PM | Unregistered Commenterskinflint
So these Chinese find this guy who duped them, man handle him, throw him into a car and take him to the police station whereupon the police let him go without charges. They have to start putting fluoride in these people's water. Jesus , next thing you know, they will start busting the place up and then where would they be?
Aug 24, 2015 at 7:56 AM | Unregistered Commenterskinflint
A lot of 'folks" just lost $20K in the last week in their retirement funds managed by the "Pro's" who follow the bankster party line (Cramer-ism)… I have an acquaintance who predicted this correction and I hope he fucking smoked em…(I would bet he did too), Then hopefully starts his own hedge fund that allows commoners like us to invest...
Aug 25, 2015 at 8:36 PM | Unregistered Commenterjohn
Here is the latest from Cheyenne:

Fed Audit Shocker: They Come from Planet Klepto

Sep 20, 2015 at 12:39 PM | Unregistered Commenterjohn
Hey John, Hope all is well. The clip with Yves. She does a good job explaining this stuff, but I find her to be too progressive. They post articles about how the printing of dollars is no big deal. I think it is problematic as pointed out here Cheyenne's piece. I don't know how Black, Krugman et al can square away with this since really this is one of the core problems with the continued mess we are in.
Sep 24, 2015 at 10:16 PM | Unregistered Commenterskinflint
Your a little late with this Ben you piece of establishment crap.

Oct 5, 2015 at 1:15 PM | Unregistered CommenterSagebrush
Sage, I couldn't believe my ears either, what a retard.
Oct 5, 2015 at 3:40 PM | Unregistered Commenterjohn
He knew what he was doing every step of the way john, when the peasants finally wake up and revolt, this slimy bastard's neck should be one of the first to go under the ax.

Oct 8, 2015 at 8:03 PM | Unregistered CommenterSagebrush
Unbelievable. They won't stop until we are thrust back into the Stone Age.
Oct 27, 2015 at 6:44 AM | Unregistered Commenterskinflint
I haven't seen anything about this. A modern day miracle.
Nov 13, 2015 at 8:59 PM | Unregistered Commenterskinflint
Happy Thanksgiving everybody. This here is hilarious. Check out the name of the law firm on this one.
Nov 26, 2015 at 7:49 PM | Unregistered Commenterskinflint
I finally take a look at this thread. I removed all of the spam. There were 33 total comments deleted. This comment section is an amazing piece of work.
Apr 4, 2016 at 5:40 AM | Registered CommenterDailyBail
My first submission to TopDocumentaryFilms.com just got accepted and posted.


About a week ago, almost on a lark, I submitted "Veneer of Justice" (budget: $0.00) to a full-bore documentary film site. One of my beefs with a lot of films about the financial crisis is that they leave viewers angry at mere concepts--greed, capitalism, government interference, the revolving door; the list is all too familiar by now. "Veneer" provides some real faces to punch out. Kudos to TDF posting it.

Now if it can just get some DB ratings love, heh heh...
Apr 16, 2016 at 9:05 PM | Unregistered CommenterCheyenne

The honor is well deserved.

Apr 18, 2016 at 10:16 AM | Registered CommenterDailyBail
Recall of Legislators and the Removal of Members of Congress from Office

Jan 14, 2017 at 12:25 PM | Unregistered Commenterjohn

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