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« BUSTED: Henry Paulson Declares 'I'm A Capitalist' While Responding To Robert Reich On Bailouts | Main | Coach Bob Knight Reacts To News That Jon Corzine Will Not Face Criminal Charges »
Friday
Aug242012

There Are No Words To Describe The Following Part II

WHO IS KEEPING TRACK OF THE TRILLIONS?

Alan Grayson questions the Inspector General of the Federal Reserve - 05/09/10

 

Circulate Far and Wide.

Our only hope to stop the heist will come from greater awareness.

---

WHO IS KEEPING TRACK OF THE TRILLIONS?

If you're in a hurry, start watching at the 3-minute mark.  At issue is the accounting and oversight for $9 trillion in secret Fed bailouts of Wall Street banks, for which taxpayers are ultimately responsible to the tune of $32,000 for every man, woman and child in this country.  Fed audit, anyone?

 

 

 

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Reader Comments (676)

@businesscoachk

Those are all good points. What I've found encouraging is that alot of people, both those who voted for Obama and those who didn't, are finding common ground on the bailouts, the reckless spending, and the dangerously large deficits. I know I speak for alot of people when I say I don't care whether Bush or Obama, Paulson or Geithner, Greenspan or Bernanke, is most to blame. Right now the Democrats are in power and so criticism must necessarily be directed at them. Some of the comments on this post in particular have been fairly partisan, but I don't think that's necessarily representative of the anti-bailout movment or of many of the "tea parties."

Anyhow, what alternatives are there to a Fed/central bank controlling the money supply?
Jun 9, 2009 at 1:06 PM | Unregistered CommenterJames H
@ readers who think the anti-bailout movement is pro-Republican

Here's a nice little snippet from anti-bailout blogger, Karl Denninger of Niceville, Florida:

"In short, The Republican Party has become the party of fraud and abuse.

That, Mr. Gingrich, is why Republicans lost in November.

If I'm going to get bent over the table I will always choose the guy who tells me up front he's going to do it so I have time to assume the position and get ready for the assault, as opposed to being randomly and repeatedly raped by those who run on a platform of "conservatism" when in fact their policies amount to raw theft and fraud from The American Taxpayer for the benefit of those who generate the largest amount of bribes, er, "campaign contributions."

Go %#@^ yourself (perform an anatomically-impossible act) Mr. Gringrich.

Oh, and don't call me again looking for money. I'll simply repeat what I wrote here, and be none-too-polite about it.

Disclosure: I'm a lifelong Republican but I cannot vote for a party that practices and supports "in your face" theft, fraud, and financial rape."

http://market-ticker.denninger.net/archives/1099-Republican-Irrelevance.html

Like Denninger and alot of other Republicans/conservatives/libertarians, I had hoped Obama would be the lesser of two evils. I'm not sure that hope is justified (personally I'm over it), but bailout politics has clearly gone way beyond squabbles between the D Gang and the R Gang.
Jun 9, 2009 at 1:31 PM | Unregistered CommenterJames H
@JamesH

At this current time I don't know if there is an alternative to the Fed/Central Bank controlling the money supply and monetary policy in general. This battle has been raging in America since the creation of the first national bank. The anti-bank crowd continues to challenge the constitutionality of the bank, but Congress has used and the Supreme Court has upheld the creation of such an extra-governmental resource as allowable under the "necessary and proper" clause. I think continuing this debate is a waste of time and energy.

So, if there is not viable alternative to the agency, what can we do. In the short term we can do what this site and others are already doing. Continue to bring news of the fiscal mismanagement and abuse of the government into the public sphere. We don't have enough of this, and it is not getting out broadly enough yet. I support any efforts to expand this kind of fact based communication. We can also challenge every elected official to adopt fiscal policy positions that reflect a clearly stated commitement to sustainable spending levels that can be funded from current revenues. Since I am a conservative, in my view this means as a commitment to balanced budgets and to further reducing existing tax burdens to stimulate growth in the economy. But even if you take a more liberal approach to both tax and spending issues, it is possible to create policies that do not violate the clear principles of sustainability and economic growth.

The current administration seems to completely ignore those core principles. It may be that they are ignorant of these principles, but I doubt that. It seems more likely that they are fully aware of the principles, but are more interested in an agenda of change that will force a fundamental transformation of our economic system. In short, the Obama administration seems committed to accumulating economic assets under goverment control in such a way that the end result is a managed economy. Since they already control (either directly or through "influence") more economic assets than any other individual or organization in US history, I would say they are well on the way to achieving their goal.

The only immediate counter to this massive power grab is for intelligent members of the public to take the government to task in the courts. I applaud the state of Indiana for leading the way in this. Their law suit forcing at least a pause in the Chrysler bankruptcy/bailout has raised the issue of the government's right to impose its will on the economy without regard to law. My hope is that the administration's planned bankruptcy will be declared unconstituional (because it is unconstitutional).

Which brings this post around full circle. All of those folks who want to attack the FED as unconstitutional would do well to shift their focus (even if just for the current emergency) to an attack on this administration's ongoing effort to consolidate power by acquiring control over private sector financial assets. There is no provision in the Constitution and no precedent for this kind of activity. In fact, the Supreme Court has held at several points that the government oversteps its bounds when it attempts to nationalize or control the actions of private companies. FDR learned this lesson the hard way. Seems to me like its time for BHO to learn it as well.
Jun 9, 2009 at 3:55 PM | Unregistered Commenterbusinesscoachk
And we used to have such a beautiful country..united, independent, offering untold horizons for those willing to work for it. Sad, sad...
Jun 9, 2009 at 7:35 PM | Unregistered CommenterMarilyn McCarver
And we used to have such a beautiful country..united, independent, offering untold horizons for those willing to work for it. Sad, sad...
Jun 9, 2009 at 7:36 PM | Unregistered CommenterMarilyn McCarver
Well you know who put these idiots in critical positions and it wasn't me. Here is another example of stupidity thats par with the current government. Anybody with half a brain could have done a better job than Elizibath Coleman. I don't know who that idiot was behind giving her promps, maybe he or it might be a she should be in charge. Coleman doesn't have any idea whats going on, she doesn't know what,who, when where or how to investigate this problem. First she has to determine what the problem is. I have no idea what she was attempting to explain.
I do know that nothing has been done to determine what happened to 9 trillion bucks. I want the truth. The big corprations are lripping off the system and just laughing their asses off.
Jun 10, 2009 at 12:09 AM | Unregistered CommenterCecil R Rice
@businesscoachk

I agree 100%. Arguing the constitutionality of almost anything is a lost cause these days. Tactically, the way to go is to attack the Fed's lack of transparency and how its actions have privileged certain players over others. If HR 1207 passes, I just hope that the Fed's partiality is obvious enough that it will piss people off, or at least piss off Congress, and that this will at least delay any ongoing bailouts. The real goal would be repeal and reform, but then we have the D Gang in power and they really seem to like having that power, no matter who it screws and no matter who it favors.

Any ideas on why the bank bondholders have been treated with kid gloves? I'm not naive enough to expect the powers that be to care about little ol' me, Joe Q Taxpayer, but still I'm curious why the bondholders haven't been allowed to lose a single penny? I suspect that it's China whining and screaming about the bonds they hold (Treasury market?), but maybe it's because the banks hold each other's debt and Geithner is just scared to death that one of his friends would have to go under. I would just LOVE for some enterprising young reporter to ask Obama, who says he doesn't "stand with" the Chrysler bondholders (i.e. "vultures") and yet he bends over backwards to protect Citi's bondholders. What would he say? What could he say? Too bad that your average "superstar" reporter doesn't have a clue about any of this.
Jun 10, 2009 at 12:14 AM | Unregistered CommenterJames H
Sorry, I didn't actually complete my sentence. That enterprising young reporter (Dylan Ratigan?) should ask Obama why he "stands with" the bank bondholders and would rather screw the taxpayer than have those bondholders convert a single penny to equity. It's possible that Obama wouldn't understand the question, but it would still make me immensely happy to hear it asked. What are you waiting for, Dylan? Tell that fine young President how cool you think he is and get him on the show. Then show those DC reporters who's the man. (Ahem... that's you, Dylan Ratigan. Not the POTUS.)
Jun 10, 2009 at 12:46 AM | Unregistered CommenterJames H
This is an idiotic red herring complicated by an IG who won't let folks see inside the process. Amazingly, no one understands this lady is the IG of and for the institution, not the SS guarding the world from the evil leader OF the institution. IG's exist at the leave of the head of the agency, the magic question has always been, what happens if the head guy is a crook is always answered, that's the next IG up the stairs at the top of the chain. Why? Because that is the end of the job to examine those at the very top of the agency you're hired to be IG. The top of the chain is supposed to be inviolate.

The answer is, see the next institution above. Why this lady doesn't say that is, it strokes the ego to let everybody think she's supposed to rat on senior leadership gone amuck.

That's never been an "INSIDE" agency's agenda. That's for the appointing authority's to ferret out, that's why there are subpeonas and grand juries.
Jun 10, 2009 at 1:18 AM | Unregistered Commenteryourdeadmeat69
@James @ Coach K

Excellent posts. I have been working on and off on a post for about week. It's called '10 questions for Tim Geithner.'

I should probably make it so that we can all arrive at the questions together as a group and tehn we can send them by registered mail to Geithner at Treasury as well as to several members of the financial press who might get the shot to interview him. My problem is that as currently written, it has about 25 questions.

But question #1 is what James mentioned. The bank bondholders versus taxpayers question. It's the question that Liesman never asks Geithner. Hell, no one has ever asked Geithner that question publicly. At least to my knowledge, and I think I've seen every Geithner interview since January.
Jun 10, 2009 at 2:30 AM | Registered CommenterDailyBail
Says Daily Bail: "I think I've seen every Geithner interview since January."

You are one sick individual, DB. But one day karma will catch up with you and it will treat you well. Keep up the good work.
Jun 10, 2009 at 2:54 AM | Unregistered CommenterJames H
Actually, it was ex-president peanut (Carter) who started the CRA (Community Reinvestment Act) and Clinton put it on steroids. Giving loans to those whose only income was Welfare (which actually shows a LACK of income), or who otherwise had no business trying to buy a house. Another failure of "Multiculturalism."

Indeed, the Fed is run by multinational banks, and are no more "federal" than Federal Express. Do the math on this, folks: the Treasury prints money at a cost of about 7 cents per bill, no matter what denomination it is.... $1, $5, $20, $100 ... all the same cost. Then we give it to the fed, who loans it to us at face value and charges us interest on the loan. How do we pay the interest?.... by the future productivity of our kids and grand-kids.

To "John Demo" ..... if so many people are "racists", then how did Barrack Hussein get elected? Here are some facts that might confuse you, but they are facts:

"It should come as no surprise that Dr. Martin Luther King, Jr. was a Republican. In that era, almost all black Americans were Republicans. Why? From its founding in 1854 as the anti-slavery party until today, the Republican Party has championed freedom and civil rights for blacks. And as one pundit so succinctly stated, the Democrat Party is as it always has been, the party of the four S's: slavery, secession, segregation and now socialism.

It was the Democrats who fought to keep blacks in slavery and passed the discriminatory Black Codes and Jim Crow laws. The Democrats started the Ku Klux Klan to lynch and terrorize blacks. The Democrats fought to prevent the passage of every civil rights law beginning with the civil rights laws of the 1860s, and continuing with the civil rights laws of the 1950s and 1960s.

During the civil rights era of the 1960s, Dr. King was fighting the Democrats who stood in the school house doors, turned skin-burning fire hoses on blacks and let loose vicious dogs. It was Republican President Dwight Eisenhower who pushed to pass the Civil Rights Act of 1957 and sent troops to Arkansas to desegregate schools. President Eisenhower also appointed Chief Justice Earl Warren to the U.S. Supreme Court, which resulted in the 1954 Brown v. Board of Education decision ending school segregation. Much is made of Democrat President Harry Truman's issuing an Executive Order in 1948 to desegregate the military. Not mentioned is the fact that it was Eisenhower who actually took action to effectively end segregation in the military."

Google "Martin Luther King was a republican" by Frances Rice. It was Republicans who started the NAACP, by the way.

As for racism, BHO is only 6% Black, and the rest Arab.

One only has to look into a bit of history, and you will find that Barrack is doing the same failed policies of FDR, only on steroids. The only other comparison would be to Mussolini's politics and policies. I firmly believe that the only reason that BHO is still around is because then Biden would be president.. which MIGHT actually be worse.
Jun 10, 2009 at 10:37 AM | Unregistered CommenterZappafan1
To clear the fog, here is an small explanation of the controversy created by the video; i.e., who answers to whom and what the duties are. As you will see, the Fed answers to NO ONE - not Congress and not the President - and actually is "owned, through stock issuance, by private member banks". And if that is the case, the power of the Fed is grounded on Wall Street . . . ain't that special???!!!!!

THE FEDERAL RESERVE SYSTEM:

Money issuing power - United States Congressman Dennis Kucinich, at the 2005 Monetary Reform Conference[153], raised the question of why the Federal Reserve should have the power to issue the United States' currency. Kucinich has also questioned the idea that the Federal Reserve should be independent. He suggested that it should be "accountable" instead.

Private Ownership - Section 5 of the Federal Reserve Act of 1913 states that the Federal Reserve Banks are owned, through stock issuance, by private member banks.[154] The issue of private ownership has been one of controversy for numerous reasons.

Dennis Kucinich has repeatedly stated, "The Federal Reserve is no more federal than Federal Express"[155][156] Kucinich also stated that "we need to have public control over this if we're going to have public policies in the public interest."[157]

One of the first criticisms of the private nature of the Federal Reserve system was Charles August Lindbergh who criticized the problem of private banks working against the best interests of the citizens: "The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money."[158]

Board of Governors:

The seven-member Board of Governors is the main governing body of the Federal Reserve System. It is charged with overseeing the 12 District Reserve Banks and with helping implement national monetary policy. Governors are appointed by the President of the United States and confirmed by the Senate one on January 31 of every even-numbered year, for staggered, 14-year terms.[25]

By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country," and as stipulated in the Banking Act of 1935, the Chairman and Vice Chairman of the Board are one of seven members of the Board of Governors who are appointed by the President from among the sitting Governors.[45][46]

As an independent federal government agency,[47] the Board of Governors does not receive funding from Congress, and the terms of the seven members of the Board span multiple presidential and congressional terms. Once a member of the Board of Governors is appointed by the president, he or she functions mostly independently.

The Board is required to make an annual report of operations to the Speaker of the U.S. House of Representatives.[48] It also supervises and regulates the operations of the Federal Reserve Banks, and US banking system in general.

Membership is generally limited to one term. However, if someone is appointed to serve the remainder of another member's uncompleted term, he or she may be reappointed to serve an additional 14-year term.[49] Conversely, a governor may serve the remainder of another governor's term even after he or she has completed a full term. The law provides for the removal of a member of the Board by the President "for cause."[49]
The current members of the Board of Governors are:
Ben Bernanke, Chairman
Donald Kohn, Vice-Chairman
Kevin Warsh
Elizabeth A. Duke
Daniel Tarullo
Vacancy*
Vacancy*
Jun 10, 2009 at 10:53 AM | Unregistered CommenterSlick
My O' My…And I thought making an elephant disappear was something....Everybody pointing fingers and shouting for some ones head. How sad. But you know what else is sad? All the money we spend on public and private education in this country, to raise so many "intelligent" individuals, yet we find ourselves and our country in this present situation. What the hell have we learned? Are we teaching the wrong things? As long as individuals believe someone with more money is better than someone with less money, we got a problem, it's called greed. If we're going to cap CEO salaries, Doctor salaries, I suggest we cap all lawyers while we're at it. You know, a trifecta box for the working taxpayer. And how about capping an elected individual's government service time, (Something less than 14 years) and get rid of these lifetime politicians. Government spending is out of control and has been for sometime. The lack of a "Paper" trail on all spending is irresponsible. Their inability to re-direct existing funds from outdated agencies, instead of growing them, is irresponsible. The fact that we continually elect them in irresponsible.
Jun 10, 2009 at 12:05 PM | Unregistered CommenterJay
I'm also against the bail outs. I own my own business. I know if you get in the way of "the survival of the fittest" then the unfit weight down the fit. I have read some finger pointing regarding both parties and current and past Presidents. I think our problems are with our congress. We the people are not being represented. My solution is not to stop paying taxes, only to make a point and cause more financial havoc, but to NOT vote in the next election for the current elected congressman. We should give this country a real CHANGE and vote for the other guy no matter what party he or she belongs to. This will make a real statement and might do some real good. We can't keep putting the same person back in his nice little office playing politician any longer. Thomas Jefferson would scream if he knew how long Ted Kennedy has been in office, and others. Pres. Obama says to change, let’s get going and change congress at the next election.
Jun 10, 2009 at 1:33 PM | Unregistered CommenterAmerican
This is a very disturbing video...This is great journalism in just posting this video...But what do we really expect from the Federal Government??
Jun 10, 2009 at 2:44 PM | Unregistered CommenterThe Intelligence Report Media Group
Jay, good luck on capping ANYTHING of the politicians' that the politicians control. It would be politicians who would have to do it; yeah, that'll happen.

And to whoever said that those politicians aren't dumb, you are only partially correct. There can't be half a dozen of them who could ever hold a job in the private sector (unless it would be as a lobbyist, lobbying their government cohorts for a greater share of taxpayers' money), they're not that smart. But they are smart like the raccoons who live in my city's sewers: they'll do whatever it takes to survive. The big difference there is that the raccoons will work for their living and won't take more than they need. The politicians will do whatever it takes to keep their donors donating (e.g., save Big Union at the expense of individual secured Chrysler bondholders), PLUS whatever it takes to make themselves wealthy.

They realize that there are American citizens out here working to produce goods and services, but these citizens' value is only that which the politicians can steal.

This video only illustrates that Big Government is so big that NO ONE knows what's happening with our money--at any level. And the sheeple are only hoping that it will grow even bigger and take care of our medical needs. Maybe they can do as good a job with that as they're doing with our financial system.

Perhaps someone might get their congressional representative to propose that the government run Chrysler and GM for a couple of years and see how that works out. If the companies thrive under Big Government direction, perhaps then they can tackle our "broken" medical system.
Jun 10, 2009 at 3:06 PM | Unregistered CommenterMinnie
Nice idea, American. The problem is, although Republicans might agree with you, the Democrats mostly seem to think everything is going just fine. That includes the dumb ones AND the intelligent ones who only watch NPR. Yup, it's all good.

So if Republicans vote for the other guy, even if he's a Democrat and the Democrats vote for the guys who are doing just fine...well, don't EVER think it can't get worse.
Jun 10, 2009 at 3:10 PM | Unregistered CommenterMinnie
All of you people being linked to this story need to see some of our recent stuff. We cover these types of stories all day every day. We have built a pretty decent-sized archive of bailout stories in teh past 4 months. About 350 articles and tens of thousands of links.

And thanks so much for visiting our site and helping to spread the word. Keep coming back. We'll keep posting the most outrageous abuses front and center each and every day as we cover the greatest heist in the history of our nation.

Thanks again, Steve


Here are some of our recent posts.

http://dailybail.com/home/james-grant-on-the-feds-im-balance-sheet-insolvency-rules.html

http://dailybail.com/home/whalen-regulators-banking-a-deal-with-the-devil-truth-bomb-c.html

http://dailybail.com/home/elizabeth-warren-on-bank-stress-tests-deja-vu-all-over-again.html

http://dailybail.com/home/matt-taibbi-eviscerates-henry-paulson-and-the-wsjs-evan-newm.html
Jun 10, 2009 at 5:27 PM | Registered CommenterDailyBail
Clueless - just like her boss and her bosses boss!
Jun 10, 2009 at 5:55 PM | Unregistered CommenterBill
Jun 11, 2009 at 9:29 AM | Unregistered CommenterHROLLER
Not only is this woman ignorant of the operations of he agency, she seems to either be oblivious are unaware of the fact that the Federal Reserve System is:

1. Not authorized by the Constitution despite the fact that is was created by the Congress.
2. Not authorized by the Constitution to provide debt notes in place of the money that Congress is mandated to coin, and which Congress is supposed to establish the value of.
3. That the Federal Reserve has no authority to use taxpayers money, or to inflate the money supply in order to save a private business.
4. That inflating the money supply is theft.
Jun 11, 2009 at 1:54 PM | Unregistered CommenterGreg Butko
Actually, the only thing that really stuns me is how long it has taken for others to open their eyes to the situation. I forget who said it but there is a very apropos statement that responds to this kind of situation:

*/The best way for "Evil" to win is for good men(and women) everywhere to do nothing."/*

In years past, a good many people have called me "negative" or some such, some worse than that. However, I have either known, or suspected, as much from our government. Politicians are not trying to be elected so they can do the most good for the most in this nation; they are politicians whose ultimate goal is to see that they are re-elected. Corporate "managers" are in business not to truly serve up something good to the majority of the people; they are in business to see that they and their ilk retain control of the financial markets. Have you ever noticed that the more money a person makes, the easier it is to get away with whatever illegal action they are doing. The "little guy" who robs a bank or a store. . . and the burglar who burgles a few homes. . .both receive major time behind bars; but the ones who steal in the millions and hundreds of millions are off virtually scott-free. Frankly, it has made me sick at heart for many years now to see how the rich and powerful have absconded with varying percentages of public assets. It gives great and obvious truth to the statement that "our government is the best one can buy."

I have no idea when or how the revolution will be coming. But, until there is such a revolution, the common man and woman of this country will continue to be taken advantage of by the corporate vultures and the "career politicians."
Jun 11, 2009 at 4:34 PM | Unregistered CommenterLeslie Thomas
Wow! Just simply wow!
Jun 11, 2009 at 5:24 PM | Unregistered Commenterkanashiinohato
Christians are criticized. Muslims are placed on a pedestal and billions of mine and your tax money is being funneled to idiots that couldn't make a go of it the first time around. What makes the Fed Govt think anything is going to be different. Wake up US.
Jun 11, 2009 at 6:45 PM | Unregistered CommenterSharon Reynolds
Many business people work their butts off trying to do good. Often, in return for working 18-hour days and 7- day weeks, they become wealthy. Teddy Kennedy inherited his money, John Kerry married his. And Bernie Madoff will probably NOT get off scot free.

Don't become like Obama & the Dems and color all "rich" people as evil and greedy. They're mostly looking at their rich Dem buddies and projecting their characteristics to the wealthy who actually gave many honest days' work for their wealth.
Jun 12, 2009 at 12:22 AM | Unregistered CommenterMinnie
Interesting. Semi-wonkish.

The Fed Might Have Painted Itself into a Corner

http://mises.org/story/3518
Jun 12, 2009 at 2:50 AM | Registered CommenterDailyBail
Was trolling around youtube for revolution and found a few gems this evening from Peter Schiff. He delivered the keynote "Why The Meltdown Should Have Surprised No One" in March at the Austrian Scholars Conference sponsored by Mises. The above clip is a very funny 3-minute excerpt discussing our national debt, Obama and the Chinese. I never knew Schiff had a sense of humor, but he's proven otherwise recently. After the jump, we have another short excerpt plus the whole enchilada which runs about an hour.


http://dailybail.com/home/peter-schiff-of-course-were-not-going-to-pay-back-the-chines.html
Jun 12, 2009 at 5:25 AM | Registered CommenterDailyBail
Jun 12, 2009 at 5:42 AM | Registered CommenterDailyBail
....audit the fed
Jun 12, 2009 at 7:02 AM | Unregistered CommenterMyKisa
This is not news. This is status quo.
Jun 12, 2009 at 10:39 AM | Unregistered Commenterdj
SPUPIDITY - time to rid ourselves of ONE BIG ASS MISTAKE AMERICA - Impeach him for trying to Socialize America. Can't we find his REAL Birth Certificate? What's wrong is that Kenya is in on the Conspriacy!!!!
Jun 12, 2009 at 12:44 PM | Unregistered CommenterDan
W O W WE'RE FUCT!!!!
Jun 12, 2009 at 3:39 PM | Unregistered CommenterWichita
He is doing some grand standing but she really isn't answering the questions presented to her.......who is in charge of knowing where all the trillions went and why isn't there a time limit on when we need the info plus we shouldn't give a penny out to corporations and when they can't pay we should make them work it off for free (manual labor never hurt anyone.
Jun 12, 2009 at 5:12 PM | Unregistered Commentermaru
Shame on you for asking these questions. Keep it up and there will be serious consequences from the WHITE HOUSE. Oh by the way you can now purchase " Where's the Birth Certificate " bumper sticker's at Worldnetdaily.com, since the 2 largest billboard company's want no part of this program. SEE serious consequences above.
Jun 12, 2009 at 9:34 PM | Unregistered CommenterJack Brewer
This is horrifying. Is there no accountability with the 12 Trillion of Obama spending as well? How can this inept woman possibly begin an investigation without knowing WHO received the money. That is just insane!!!!!! I fear for the socialism that Obama is bringing, the debt, and the lack of personal accountability and responsibility in Washington. Obama is fucking up our country. Bush was bad..Obama is much much worse. I don't think he can be given a pass much longer because he is a good looking black man. We should all be color blind, right. That means we have to call a failure a failure and stop worshiping a president who despite his education is an inexperienced crook! No more excuses for the most irresponsible spending in world history. 12 Trillion in 5 months..and on what...he has flooded the market and hyper inflation is coming! Too much money has flooded the economy and will be chasing too few goods. Watch out for the VAT taxes he wants to pass. They will raise every single good in this country 8-15 %..food, clothes, everything. 12 Trillion dollars...fucker..he has over-reached and is ruining the country!!!
Jun 13, 2009 at 11:48 AM | Unregistered CommenterPundit
This woman is nothing more then the continuing effort to completely destroy America as a 'Free and Independent' nation in the world. No longer will Am,erica allowed to sit all by itself, where freedom and that kind of thing is ours. The Bush family, monsters I often correctly refer to as 'Hitlers', were part of it. They brought in the New World Order. Bush said, remove all borders to America. Completely. Soon you will see in America, the 'North American Union', the 'NAU'. Just as you see in Europe, the EU. Soon to be joined by England, who has been conquered. By America and Saudi Arabial.
Jun 13, 2009 at 1:56 PM | Unregistered CommenterGabriel Sties
I am tired of all the hate , I pray for this country each morning I feel like I am back in the old south 100 years ago . SO he is black I feel he is doing the best He can .why dont we stand Behind him and hellp him as much as we can . Bush made us a laughing stock all over the world , And Bill Clinton left office and we were in the black . and we put him down on ever trun he made and, There were other Men in our past that was just as bad as he was . JUSt watch the history Chn,, and see all the things that was done by other men that was our president, I was 12 years old but I know Roosevelt Died in Warm spirng Ga with his mistriss at his side, And all my years I feel he was the best , Carter was a good Man and Look what we did do him making fun of him , oh well this is enough I pray for all of you Betty
Jun 13, 2009 at 5:02 PM | Unregistered CommenterBetty Neeley
More bla - bla - bla from DC. "Yes we can" bla bla, we got what we deserved when we elected this con for President along with all the cons in CON-gress. They are all great at stating the pollution but you never hear a real solution, just bla bla.Their is only one way to clean up this mess, revert back to the original frame work of the constitution, eliminate everything and anything attached to it since the beginning. Have all of congress resign and start fresh. Cancell all social programs, quit lending or giving money to foreign countries in need, get all our money back from the thieves on wall street - auto mfg. - banks - let em fold and once again start from scratch. We need to take care of ourselves before we can take care of anyone else. But we won't, why you ask? Because we Americans have lost our desire, our drive to succeed, we would much rather have our asses wiped for us then wipe our own. Oh and by the way put this inspector general in guantanamo I hear they have vacancies.
Jun 13, 2009 at 5:40 PM | Unregistered CommenterSteve
Nick, thanks for clarifying her role for futuregasm, obviously he did not hear her comments about what her role is!!

The fact is there is no oversight for the money the FED has distributed, As for grandstanding, I'm happy that someone pointed this out!!
Jun 13, 2009 at 8:52 PM | Unregistered CommenterDocHowie
The woman is an absolute moron and should be water boarded.............
Jun 13, 2009 at 9:31 PM | Unregistered CommenterZorro
Along with her idiot staff............Buffons all of them........Fire them all
Jun 13, 2009 at 9:34 PM | Unregistered CommenterZorro
All - a must read on the Federal Reserve: "The Creature from Jekyll Island". Once you've completed it, you will not be surprised by this 5 minute embarrassment.
Jun 14, 2009 at 12:53 PM | Unregistered Commentersharijune
Bravo, 'disgusted'! You're right....why should everyone do stupid things? After all, we have Obama and his cohorts doing enough of that for everyone else in the whole country!
Jun 14, 2009 at 1:16 PM | Unregistered Commentercommoncents
Stupid is as stupid does, Forrest Gump. We ask for the problems that exist by continuing to reelect the same old thinkers. Kick me once, your fault, kick me twice, my fault. As evident by the present group, they are more concerned about reelection than actually doing the best thing for this country. Once elected they should drop the Dem and Rep Title and be concerned doing the best for the country.
Jun 14, 2009 at 2:21 PM | Unregistered CommenterJim Haddock
I love how so many people use issues like this to try and win the "superior political party debate," when the issue itself is so damn frightening and REAL. It's like a bunch of morons sitting around in a sinking ship debating over who punched the hole in the hull. PLUG THE DAMN HOLE.

The bottom line is that it doesn't matter if you're a conservative or a liberal, this situation is ridiculous. Regardless of your political stance or who you voted for back in 1996, the solution itself needs to be corrected. So where do we go from here? If we were an intelligent society, we would band together and fix it. Sadly, I fear we're not capable of doing something so sound and logic. Let the political pissing contest continue....
Jun 15, 2009 at 11:55 AM | Unregistered Commenterjc in co
What a sad state of affairs!! This goes back to Bill Clinton's "wonder" years. Where o" where has the money gone?
As the story continues, where is an account of where all the Stimulas money has or will go? Did you'll think we really
would see any more of that in our pockets??
Jun 15, 2009 at 7:07 PM | Unregistered CommenterElaine
To the person who called everyone who disagrees with Obama racist. You must work for the DNC or the White House. Can you tell me why it's racist to disagree with Obama? I see that reply quite often when the faithful have nothing else to say.
It looks like he'll be a one term president, thank goodness.
The man is a liar and his followers are fools. Then again, it's still a free country...until the "One" does away with elections for the national good of course.
Jun 15, 2009 at 8:15 PM | Unregistered CommenterFormer Democrat
Are you serious?
Jun 15, 2009 at 9:38 PM | Unregistered Commenternatalie

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