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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)

Jester boy, I got my education in the United States Marine Corps, other than that I am high school educated, and can almost put a sentence together properly, Do yourself a favor and preview before you post. Incidentally, what are you goin' to do with that Ph.d? May want to brush up on your Chinese, and don't take any wooden yen. - Ha For further information, please refer to "Infowars" with Professor Alexander Jones. P.S. Rothbard and Friedman - fags. - Ha, On a serious note, when you go as far as you can in this world with your Ph.d, You may want to check out God's Book, by far the most accurate, (impossible to prove wrong) but more importantly, may help you get beyond this world and all it's superficiality. -Formerly known as "eyes to see and ears to hear" - verse from Book of Matthew,where Yeshua HaMashiach, quotes the Prophet Yesha'Yahu - speakin' of books and authors. Good Luck Jester, and quit accepting paper notes from the king, put in a request for gold coin. -Ha
Sep 3, 2009 at 8:53 PM | Unregistered Commentereducated jarhead
God has to love a jarhead... And you put a sentence together quite nicely. And you are right, the "intellectual elite" got us here.

The true answer is in Samuel...

Baruch BeShem Adonai Yeshua.
Sep 3, 2009 at 10:13 PM | Unregistered CommenterS. Gompers
Dear oh dear....A simple yes or no to the question would have suffice. Inspector General of the Federal Reserve.....She appeared very nervous. Is she clueless or perhaps she is under gag order.......... profoundly troubling. Kudos to Mr. Grayson for keeping his frustration under control.

Mr. Bush bashing is not going stop any time soon. He is a badly misunderstood president. A friend & neighbour from North of the border, I got my fair amount of bashing and insults for defending him and owe no apologies to anyone for continuing to do so.

Thank you, great videos and forum. I will forward your link to friends and families.
Sep 6, 2009 at 4:11 AM | Unregistered CommenterLee
TO ALL OF THOSE WHO ARE INTERESTED IN LEARNING MORE ABOUT THE FED, GO TO THEMONEYMASTERS.COM GET THE DVD AND YOU WILL BE RIVETED TO YOUR TV FOR ABOUT 3 HOURS.
Sep 6, 2009 at 9:07 PM | Unregistered Commenterjoan
Just think who put us in this situation. De regulation in 1992, (lending Quota) 1999 (Gramm-Leach-Bliley Act). John McCain and Barack Obama's presidential campaigns are pointing fingers at each other's political camps over who were the architects of a 1999 banking deregulation bill many cite as reasons for the current financial and mortgage lending mess on Wall Street.

The 1999 Gramm-Leach-Bliley Act broke down barriers between banks, securities firms, mortgage lenders and insurance companies. That deregulation repealed Great Depression-era bank regulations with the approval of former president Bill Clinton. This can be foune at:::
http://www.bizjournals.com/phoenix/stories/2008/09/15/daily81.html
Sep 7, 2009 at 1:03 PM | Unregistered CommenterKen
Do some research on the National Industrial Recovery Act and the National Recovery Administration. Basically, those were FDR's plan to turn the USA hard left towards all out socialism and eventually communism.

Fortunately the US Supreme Court called shenanigans on Roosevelt and declared NIRA and its administration unconstitutional. FDR shifted to Plan B with a huge crop of new government agencies to do the job piecemeal. Most of them are still around, even though they've changed names a time or two.

FDR loved the commies. He sent the outspoken communist Joe Kennedy (Ted Kennedy's father) to England as an ambassador and they sent him right back 'cause all he'd go on about was how much better off the English would be if they'd just copy Stalin's way.
Sep 7, 2009 at 10:25 PM | Unregistered CommenterNIRA
Any questions about how government healthcare will be run???
Sep 7, 2009 at 11:56 PM | Unregistered CommenterSteve from Irving
@ Steve

No questions.
Sep 9, 2009 at 2:41 AM | Registered CommenterDailyBail
Can you imagine a business being run like this? And you liberals want government to run healthcare?
Sep 9, 2009 at 11:33 AM | Unregistered CommenterRick
I think we just need to through the lady in prison and take away everything she has. Send a message that if your not gonna do your job and lose track of trillions of dollars, that there is a consequence. We have too many dumb people in these types of offices though, and a president that has way too many people fooled and believing in him. We haven't had a good president in ages though, so what can you expect. Bad presidents and leaders = Bad times. It's only gonna get worse. We obviously haven't learned that history repeats itself, or the word of God that tells us these things. Than again there is no God right? Well, i guess some people will just have to learn there is a God the hard way.
Sep 9, 2009 at 3:36 PM | Unregistered CommenterLogan
"This didn't start in the Bush Era. This started in the Clinton Administration with the Community Reinvestment Act law he signed in 1999, which created the sub-prime loans. Financial institutions were give government quotas to loan the money to the low-income citizens. If they didn't meet the quotas, then the faced possible government sanctions from the Dept. of Justice aka Janet Reno."

That's true... and Bush wouldn't dare try and stop it.
As usual, the Democrats (Barney Frank especially) would call Bush a racist who hates black people who are 'helped' by these loans. So, Repubs were too afraid to touch it. They had no spine, but I can understand why.

So... fear of being called a racist by Democrats stopped any reform of the mortgage market which was started by Democrats.
And yet, some fools still blame Bush for this. LOL!

Like this recession? Blame Barney Frank, Bill Clinton and those who use race to keep this scam going.
Sep 10, 2009 at 12:03 PM | Unregistered Commenterster
She's a blooming idiot! I'd love her job, and make the money she does!
Sep 10, 2009 at 3:44 PM | Unregistered CommenterMary
There is an old song by the REM that I would like to hear about now...

That's great, it starts with an earthquake, birds and snakes, an aeroplane -
Lenny Bruce is not afraid. Eye of a hurricane, listen to yourself churn -
world serves its own needs, regardless of your own needs. Feed it up a knock,
speed, grunt no, strength no. Ladder structure clatter with fear of height,
down height. Wire in a fire, represent the seven games in a government for
hire and a combat site. Left her, wasn't coming in a hurry with the furies
breathing down your neck. Team by team reporters baffled, trump, tethered
crop. Look at that low plane! Fine then. Uh oh, overflow, population,
common group, but it'll do. Save yourself, serve yourself. World serves its
own needs, listen to your heart bleed. Tell me with the rapture and the
reverent in the right - right. You vitriolic, patriotic, slam, fight, bright
light, feeling pretty psyched.

It's the end of the world as we know it.
It's the end of the world as we know it.
It's the end of the world as we know it and I feel fine.

Six o'clock - TV hour. Don't get caught in foreign tower. Slash and burn,
return, listen to yourself churn. Lock him in uniform and book burning,
blood letting. Every motive escalate. Automotive incinerate. Light a candle,
light a motive. Step down, step down. Watch a heel crush, crush. Uh oh,
this means no fear - cavalier. Renegade and steer clear! A tournament,
a tournament, a tournament of lies. Offer me solutions, offer me alternatives
and I decline.

It's the end of the world as we know it.
It's the end of the world as we know it.
It's the end of the world as we know it and I feel fine.

The other night I tripped a nice continental drift divide. Mount St. Edelite.
Leonard Bernstein. Leonid Breshnev, Lenny Bruce and Lester Bangs.
Birthday party, cheesecake, jelly bean, boom! You symbiotic, patriotic,
slam, but neck, right? Right.

It's the end of the world as we know it.
It's the end of the world as we know it.
It's the end of the world as we know it and I feel fine...fine...
Sep 10, 2009 at 8:25 PM | Unregistered CommenterLeprakawn
Younger bloggers with limited historical perspectives, may not appreciate that our current economic woes have little to do with party affiliation or political ideology. It's about human greed, sloth, and lust for power resulting in decades of steadily escalating fraud, waste, and abuse. We find this in government. We find this in the private sector. We find this in the military. We find this in the media. We find this in our justice system. And it's killing the freedoms that define us as Americans.

Some have suggested revolution. Maybe that's the only way out, but I would ask you to consider carefully whom you wish to target. It ain't that easy; civil war never is.
Sep 11, 2009 at 3:59 PM | Unregistered CommenterProtoplasm
Lets see; empty our savings through outright theft and inflation, trash Social Security, steal our 401k's and IRA's and demand we support this stuff! Like HELL I will! These jerks need to be held accountable. Criminal charges, prison and executions are in order. This will only stop when the penalty is great enough to get their attention. If you think execution is a bit over the top consider this. How many million lives have they ruined? How many lives will it cost if what they are doing ultimately causes the complete economic and structural collapse of the entire country? The incompetence and outright criminal behavior is absolutely mind boggling. This is exactly why historically Democracies only last about 200 years. Steal from the producers and give to the lazy criminal thieves. To HELL with them all! I QUIT!
Sep 12, 2009 at 10:30 AM | Unregistered CommenterMCM
This stuff is being sent to me daily and anyone who even gives an opinion other than maybe if george Washington was alive today the streets of washington would be lined up with all the hangings for treason. i am sorry.anyone stealing our tax dollars while they pretend to be representing us is treason. these people have done more damage to the american people since 9/11 than any terriost could possible do. i am a war veteran wrong war, wrong people but sooner or later we all have to stand up and be accounted for. If you have a sex offender in your neighborhood you would be deservable upset but yet we are killing thousands of innocent people everyday and it seems like no one cares. the gov has cancelled out the cost of living raises for the next 2 years to SS people while they are handing out trillions and no one seems to know where its going. the right to bear arms is in our constitution just for a situation like this were to arise. The only way this situation could possible be fixed would be to clean house using whatever means and start over or our children and grandchildren will have to pay the price. TALK IS CHEAP PEOPLE WAKE UP AND SMELL THE ROSES BEFORE THEY TAKE THEM TO. I was trained at 20 years of age that i am an american and we do and take what we want and carry a gun for anyone that has a problem with what we do. Our military taught me that. what bothers me more than anything is that these are just a bunch of punks hiding behind there titles, stealing our life and it only goes on because we allow it. IT'S OUR TAX DOLLARS AT WORK
Sep 14, 2009 at 5:24 PM | Unregistered CommenterJohn
interesting comments from most of you...enjoyed reading everything...
Sep 15, 2009 at 12:34 AM | Registered CommenterDailyBail
What I found interesting was the aide behind her feeding her answers when she got into her corners!
Sep 17, 2009 at 4:23 PM | Unregistered CommenterCMTN
Ther is so much money floating around in the government that nobody knows where the fuck it is.All I know is that we are not getting any of it. Where does all the unclaimed lotto money go? Gee wiz I think some new government official needs a bigger car or new furiture in his office or lets send our family to Hawaii and i will right it off as a buisness expence.The government is so fucking crooked that alot of them just haven't been caught yet.
Sep 17, 2009 at 5:30 PM | Unregistered Commenter"super D"
Stereotypical product of the modern feminist movement -- Ms., avoid responsibility at all costs (pun intended), evade answering anything honestly and by all means, talk with one's hands. And this is progress? I don't think so.
Sep 17, 2009 at 9:59 PM | Unregistered CommenterNC-RM
Who is the whispering woman in the back? Maybe she has the answers?
Sep 18, 2009 at 10:31 AM | Unregistered Commenterinfocyde
'disgusted' - just because YOU wish to label someone a racist because they want to KNOW FOR A FACT that the man that is sitting in the Oval Office 100% has the right to sit there, does not make them so. That is a standard, and seriously? lacks originality, mantra by liberals.

WE THE PEOPLE have a RIGHT and a DUTY to SEE proof. Since there are questions (and DO NOT post some lame ass link to BHO's sites that support him - specifically the ones owned by Annenburg) regarding his TRUE nationality and IF he is a LEGAL US citizen, than he has the DUTY to provide it. The simplicity of what it takes to prove it and make it ALL go away is what would be his downfall, therefore, he does not.

I - as an American - am disgusted by YOUR behavior and tactics to tell ANYONE that they do NOT have a right to know WHO he is. His background is NOT sterile .. and quite the opposite. His 'acquaintances' - yanno, the people that he HANGS OUT WITH? - are all crooks, in some shape or fashion. His relationship with ACORN is proof of his lack of morality. His ethics are seriously lacking. The proof is ALL out there, on many videos of HIM actually saying that he is BRINGING ACORN WITH HIM TO THE WHITE HOUSE - for 'all of their help and support on his run to the WH' - go look it up in YouTube. His lies back and forth about his relationship are more proof he KNOWS they are crooked, after all, he trained them. Was an atty for them, suing Citibank on ACORNS behalf for ONE example to FORCE banks to GIVE LOANS TO POOR PEOPLE WHO COULD NOT AFFORD THEM. Do not talk about BHO as if he is some great person. He is a disgrace to all that made this country great and he laughs at our founding fathers. But why wouldnt he? they are HIS founding fathers, being a british subject as he is.
Sep 18, 2009 at 10:37 AM | Unregistered CommenterTC
Amazing, keep printing the money, give it away but don't keep track to who?? - the whole thing stinks like this CHange!
Sep 18, 2009 at 11:59 AM | Unregistered CommenterLiz
Dear lord - this woman is CLUELESS to the issues Rep Grayson was asking! You are the INSPECTOR GENERAL for gods sake!!

What we NEED is an INDEPENDENT audit of the Fed by someone who knows what-the-hell they are doing. Hell I would be happy if (democrat) Rep Grayson did it!
Sep 18, 2009 at 7:08 PM | Unregistered CommenterJon-In-CA
It is very easy to find where the money went, Most of the TARP went to foriegn banks holding the CDOS and CDS written by Bear and Citi and Merril lynch etc. The OFF balance sheet issues the guy was grilling her about is also EASY to find CNBC listed them back in November 2008 http://www.cnbc.com/id/27719011. This a a tempest in a teapot. You people should be GLAD the fed did what they did, Had they not the entire world financial system would have collapsed. OH YES, the Letters of Credit were not being issued by banks all around the world. That means NO SHIPPING, which means NO TRADE which means NO GROCERIES, NO FUEL, NO JOBS for anyone anywhere in the world. We would have had an apocolyptic upheaval bigger than anything in human history and civilization would have been set back to the Iron age. Before you get all in a hissy fit, realise what we were looking at in September 2008. You are still eating, you should be glad. If you really want to be mad at somebody be mad at the bankers who are STILL writing CDOs and CDSs to the tune of ONE QUADRILLION DOLLARS still lurking out there to put the world in a collapse situation AGAIN. Check out the Bank of International Selltements (in Basel Switzerland) website if you dont believe me.
Sep 20, 2009 at 11:53 AM | Unregistered CommenterHeidi Hanson
For all of the people commenting on this video saying that this is not her job, read this...

http://www.federalreserve.gov/oig/

If you honestly believe this is not her job, you deserve to be beaten along with Elizabeth Coleman and every other government official stealing straight out of the hands of American citizens.
Sep 21, 2009 at 9:47 AM | Unregistered CommenterUnbelievable
Sorry SM and Nick, but you're both morons. The Inspector General is tasked with oversight of the audit process of the Board of Governers, not with controlling their audits. That politician, obviously, is a grand-standing idiot trying to make a name for himself by bullying from the pulpit. Kindly do the community a service and educate yourself before you comment.
Sep 21, 2009 at 1:36 PM | Unregistered CommenterPJ
Norton,
Your comment made me laugh only because I too have a warped sense of humor. The amount of corruption we are dealing with at this point is unbelievable. No one knows what the hell their doing and frankly don't care! How can these people even live with themselves? Only completely GODLESS politicians could do this to our country. I am afraid for our future youth that they will be so entrapped by this debt. And. I did not vote for this corrupt man and his "Motley Crew"! Not that the prior adminstration was so perfect. Still, what Obama and Congress is doing with Health care, Cap and Trade WILL RUIN OUR COUNTY AS WE KNOW IT! Ask the English what happened to their country when they did this. They are taxed like crazy for everything, even owning a tv. It is all about government control. Where are the jobs people? There will be no jobs created other than government jobs. WATCH AND SEE! Do you really think our president gives a crud about you and your healthcare? Please. It is all about votes and his plan for a New World Order. Watch him cozy up with Russia, Crazy Chavez, Mr. Crazy Iran. Oh yeah, he'll have his little pen and notebook in case there is something he's missed. In Peru the government took over starting with healthcare and then the people started to speak out. One by one her relatives started dissapearing. She said to me she hears Obama using that same language that their government used on them. Wake up people. Why do you think people are speaking out!
Sep 21, 2009 at 9:35 PM | Unregistered CommenterMay
Important note here, these are your boy Obama's people doing this, all within the last 8 months. These are not GOP people, it's your goddamn democrats stealing our money. Got that assholes?
Sep 22, 2009 at 3:25 PM | Unregistered CommenterJames
all we need to know is who appointed her.
Sep 22, 2009 at 5:56 PM | Unregistered Commenterjbone
Can we all say liar !
Sep 22, 2009 at 8:16 PM | Unregistered CommenterProof enough
Hey futuregasm, are you smoking one of those joints? Are you an idiot?

This is pretty clear - the FED needs to be audited by someone!!!!!!!!

I'm with Sonic Ninja Kitty.....what the (*&^^$$@%%&*^&+(*_(**(^^$# is going on
Sep 22, 2009 at 8:20 PM | Unregistered Commenterwyattnev
@Heidi who wrote:

This a a tempest in a teapot. You people should be GLAD the fed did what they did, Had they not the entire world financial system would have collapsed. OH YES, the Letters of Credit were not being issued by banks all around the world. That means NO SHIPPING, which means NO TRADE which means NO GROCERIES, NO FUEL, NO JOBS for anyone anywhere in the world. We would have had an apocolyptic upheaval bigger than anything in human history and civilization would have been set back to the Iron age. Before you get all in a hissy fit, realise what we were looking at in September 2008. You are still eating, you should be glad. If you really want to be mad at somebody be mad at the bankers who are STILL writing CDOs and CDSs to the tune of ONE QUADRILLION DOLLARS still lurking out there to put the world in a collapse situation AGAIN. Check out the Bank of International Selltements (in Basel Switzerland) website if you dont believe me.

********************

You are half-right...the second half...the first part of your thesis is sheer nonsense...

Fear mongering about calamity doesn't work around here...we are not susceptible...go peddle your nonsense elsewhere...

This was and remains the greatest heist in the history of the world...and statements like yours only help to perpetuate the nonsense...
Sep 23, 2009 at 1:21 AM | Registered CommenterDailyBail
1:39 = A deer caught in the headlights ... it says it all !
Sep 23, 2009 at 10:01 AM | Unregistered CommenterGls.
Now this is change we can belive in.
Sep 27, 2009 at 10:16 AM | Unregistered Commenterpeter
Our government is going to the dogs. Make sure she doesn't get into office again.
Sep 29, 2009 at 10:02 AM | Unregistered CommenterRuth
Go back 8 yrs GOP'ers....you had the house and senate, you trusted the Cowboy & Shooter Cheney and a 2 to 3 trillion surplus handed to YOU from Clinton. You had it all....and spent like drunken sailors. Don't cry now, YOur such f*cking terrible managers and can't see What you've done. This is Why you lost the Election...go ahead and Cry....I'm laughing my rear off....9 Billion a month for 7 yrs...for a Lost war...mmm Where is the Cowboy now...retired...YOU got what you deserve. The scandals and the chimp has cost us Billions...you idiots. You will never learn. Get your head out of where the sun doesn't shine...admit your mistakes, then and only then...or just bring back Palin...yes, she is perfect for the cause.
Sep 29, 2009 at 9:52 PM | Unregistered Commenterckkk
All I can say is "I did not vote for this adminstration". God help us all.
Oct 1, 2009 at 5:03 PM | Unregistered CommenterNawang
ARTICLE ONE, SECTION 8 OF THE UNITED STATES CONSTITUTION AUTHORIZES THE CONGRESS "TO COIN MONEY AND REGULATE THE VALUE THEREOF." THERE HAS BEEN NO AMENDMENT TO THE CONSTITUTION THAT TRANSFERS THAT AUTHORITY TO ANY OTHER BRANCH OF GOVERNMENT OR ANY FREE INTERPRISE CORPORATION. CONSEQUENTLY THE FEDERAL RESERVE NOT BEING A PART OF OUR CONSTITUTIONAL GOVERNMENT IS UNEQUIVOCALLY UNCONSTITUTIONAL AND MUST BE DECLARED NULL AND VOID.

MEANWHILE WE MUST GET THE BALL ROLLING BY SUPPORTING RON PAUL'S BILL HR 1207. FEDERAL RESERVE TRANSPARENCY ACT.

WWll Veteran Tom Flournoy
Oct 2, 2009 at 12:22 AM | Unregistered CommenterTom Flournoy
I agree, this video is remarkably terrible; whatever happened after (or what did not happen!) leads our imaginations to think and fear the worst. However, I wish to speak about a side-bar I have noticed. If we are to bring about a unified front in favor of our free society, we all need to understand what we look like to others when we call each other names.

I do realize that this venue is a great place to "Dis" others and their acts, and that it is an appropriate place to vent. I get that. I am really making my comment to the times when we are talking to people directly, trying to persuade them to think about our view. When we are always "Dissing" we get into the habit of it, then we may be unable to speak well, armed with facts when the time really counts.

Because the older gentleman was frightened about what Obama and congress are doing, does not make him a racist. He is expressing his fear for our country's future, not making a comment about the color of the president's skin. There is a HUGE difference. Many are afraid to speak ill of Obama because others may call them raciists. I really believe all of our difficulties today are not because of Obama's skin anymore than his shoe size. Daily, in these conversations we have in public, bad names are used out of understandable frustration, but doing so reduces what we say to elementary/speak. (My apologies to all school kids). We must become more articulate and grown up about how we attempt to spread our message. Using "bad words" in public only confirms what people on the left want to think of us - that we are just full of c. and know nothing. Yes, almost everyone uses bad language on both sides, of course this is true. But the stronger side of any fight usually becomes the more confident and dignified.

If we all spoke with confidence and dignity when discussing other points of view, we stand taller, and sound more adult. Usually, this kind of presentation is quietly observed as being the Better Side. Swear all you need at your good buddies to let off the steam, but present yourself as knowledgeable and purposeful rather than as a whinning, cussing know-nothing. It is much more effective. We do not need to preach to each other as much as we need to preach to the left. However, they may not listen because of HOW we say our piece.

Use of articulate language is very powerful. Look where it got Obama.

No Bad Talk
Oct 5, 2009 at 4:55 PM | Unregistered CommenterNo Bad Talk
OMG, no ones steering the boat... AGAIN!!! What a crock. Bless his heart, Congressman Grayson is our own (Democrat) story teller. I do not know her party affiliation, but this Inspector General was blindsided by something she has no control over, or should. Inspector Generals are quite common in government; every department seems to have one. They do not do investigations and such on their 'own' volition. In this case, they would only perform an audit if directed to do so by the executives running the Fed. They have nothing to do with day to day operations and in this case, the question(s) for her were inappropriate. Why should she know where the money is at this point? It's information she does not need to know. I don't know why our government and elected officials seem to be more inured with exposing gotchas than actually doing the work of the people. He was the one who recently called the Republican Health Program is to "die quickly". I find that inappropriate and personally think he should be called to task for those remarks. Anyway, I've seen this before and it didn't impress me then. This method of attack makes things 'look' worse than they are, and in most cases, no problem at all. The average citizen knows nothing of how this system works and are being herded by a skillful talker into thinking something is askew in 'your' government, in an attempt to make their party look better or the oppositions party to look like demons. How appropriate: The sky isn't falling, it's an acorn.
Oct 5, 2009 at 5:20 PM | Unregistered CommenterDavid L. Kriner
OBAMA TSUNAMI
I accept praisetiques not critiques
Any response is appreciated if one uses facts-numbers.
Blarney Blabber generalizations are not read.
“Conservative” ideology gave us the current “Great” Recession the same as the “Great” Depression.
Free the Freak Market Gamblers. Bet on anything.
Rich gets ultra rich trickles down to Middle Class.
From 1946 to Reagan was Great Middle Class Years.
Each percentile increased almost evenly, percent, and economists called it the Picket Fence distribution.
Reagan policies began upward shift.
It became a Step Ladder distribution. Each step gained a little but top step (10%) went into orbit.
Huge Tax Cuts for top (60%)

Huge tax increase on Middle Class. Payroll Tax Increase largest in history. 50% tax on social security checks. 5-cent tax on gas.
Enormous increase in military spending to enrich backers in California and rich shareholders in defense industries
Reagan increased Spending buy 80%. Debt by 170%

Do not try usual conservative spin—“it was congress”.
Reagan 8 budgets spent more than prior 50 years.
He submitted 8 for over 7000b. 1930-1980 spent 6066b—congress returned 8 budgets to Reagan with fewer dollars in total than he had submitted to it.
Go ahead try usual conservative spin—“real” inflation adjusted dollars—no work senor—
From 1948 to 1989 Reagan spent 2.7 dollars in 8 for each “real” dollar spent in other 32 years. Comprehendez amigo? Factoids hurt? Si!

Try usual Heritage spin—Reagan tax cuts paid their way—huh! From 1983 to 1989 federal revenues increased from 599b to 990b. 391b increase. Correct. But-Reagan tax cuts were income tax cuts therefore it seems logical you measure income tax revenue increase.
319b increase. 201b was increase in payroll tax revenue from Reagan huge increase in it.
50b in excise tax increase partial from gas tax. 251b of 391b. Durn! That leaves 140b increase in income tax revenues. My math professor Dr. Hook taught me 140 “in” is smaller than 750 “out”. Factoids are miserable things.
In 1980--86% of employees had Health Insurance-In 2008---31%.
Bush/Cheney did more damage than Reagan.
Increased Spending by 118% and Debt by 100%
Cut Taxes for top 2.7% or four times the amount for bottom 80%.
His 1700B in tax cuts were in 5000b he borrowed

Bush/Cheney led us into two awful Slaughteramas. Hundreds of thousands were killed. Tens of thousands of little children were maimed for life. Tens of thousands of wives lost their meal tickets. What is wrong with Americans?
Ever know a so-called Christian pastor or congregation in America to pray and weep for those people? I WEEP. Millions of tears shed, justly, for the Holocaust. None here.

Bush had worst record since Depression on Job creation. He got 3000 net new jobs per month. Disgusting when compared to records of 218,000 by Carter and 237,000 by Clinton.
The world warned not to invade a destitute unarmed Iraq.
Bush sr. said do not do it.
Leadership of each major religion in America said do not do it. Exception was Southern Baptist.
Polls in major nations said do not do it. Exceptions were Israel-Poland-Australia.
Cheney was heard to tell Rumsfeld the day after 2001 inauguration “prepare to invade Iraq”. Equipment was moved into Kuwait far ahead of Bush “Cheerful” announcement on invasion. It was Bush fulfilling his statement to his biographer ”I will need a war to be a successful president”.
Wall Street was allowed unrestricted gambling. It was unproductive. No jobs were created. It was simply the Rich betting money against other Rich money to get richer. Las Vegas type gambling.
AIG covered any bet. Texas gambler bet on Housing crash and won 1 billion. AIG paid him out of 185B supplied by our taxes. Goldman Sachs loss was paid by AIG out of our taxes.
The Housing Industry sustained our GDP growth but wasted capital-labor-materials in constructing homes to large-too expensive for the middle class incomes. Federal Reserve increased the Total money supply by 4000 Billion in five years which was twice the increase over the prior ten years.

Greenspan gave Clinton a 6.5% Interest Rate and immediately gave Bush a 1%. The increase in money supply and very low interest rate encouraged banks to borrow max and encouraged developers to build build build.
Local Banks were permitted to trade with Wall Street Gamblers. Courtesy Phil Gramn, Republican Congress and Clinton. 1999 elimination of Glass-Steagall.
Shades of S & L in 1981. Remove local ownership. Rich pals of Milken come and get it vaults are wide open. Government assures you no loss.


A feeding frenzy took place on home mortgages, which were sold via securities as high grade investments to unsuspecting investors around the world. Refinancing was a major part of the frenzy. Speculators took part. As of January 2008 twenty-three percent of foreclosures were on homes purchased by Speculators. Some purchased entire developments.
Assumption was correct from history. Homes always increase in value. Always.
History can be wrong..
From 1980 to 2008 was a disaster period for working people. A bonanza for Gamblers on Wall Street And CEOs.
Why did not CEO’s increase income of employees? In one year they made 550 times the average pay of workers. Remember the good old middle class years when it was 40 times? It is irrefutable that 1981 to 2008 was Enrich the Rich Ditch the rest.
SINCE 1980 HERE IS A BRIEF-DISGUSTING
20 YEARS=3 SO CALLED CONSERVATIVE PRESIDENTS
18 YEARS=SO CALLED CONSERVATIVE SENATE
12 YEARS=SO CALLED CONSERVATIVE HOUSE
6 YEARS=TOTAL GOVERNMENT CONTROL BY SO CALLED CONSERVATIVES
2 TERRIBLE ILLEGAL WARS
TRANSFER OF JOBS TO CHINA AS WE COVERED OUR OVER-SPENDING BY THEIR LOANS
LOSS OF OUR JOB PRODUCING MANUFACTURING BASE--
HERE ARE THE RESULTS--SAD
600B SPENDING TO 4000B
1000B OF DEBT TO 11,000 +
23M NET NEW JOBS
12 YEARS OF CARTER + CLINTON GOT 33M
8 YEARS OF THE MOST SCURRILOUS ADMINISTRATION IN HISTORY PER HAYNES JOHNSON IN --PRESIDENT REAGAN=SLEEPWALKING THROUGH HISTORY
138 CHARGED WITH CRIMES WAS MORE THAN GRAND TOTAL SINCE 1900
MOST OF THEM WERE CHARGED IN CRIMES INVOLVING MONEY.
THE NUMBERS ARE AVAILABLE. THE HISTORY IS VERY CLEAR.
THE GREAT MIDDLE CLASS GOT THE GREAT BIG SHAFTING.
THE STRUGGLING RICH BECAME THE ULTRA-RICH
SMASHED WALL STREET
SMASHED ECONOMY
SMASHED HOUSING
SMASHED CHILDRENS FUTURE WITH DEBT
SMASHED WORKERS INCOME
SMASHED AMERICAS REPUTATION WORLDWIDE
STARTED THE DECLINE OF THE AMERICAN EMPIRE LIKE ROME-SPAIN-HOLLAND-BRITAIN
DEMOCRATS HISTORY OF BUILDING GOOD THINGS FOR ALL AMERICANS
CONSERVATIVE HISTORY OF FIGHTING THOSE GOOD THINGS
WHY DO YOU SEND CONSERVATIVES BACK TO WASHINGTON?
I AM OLD AND UGLY AND I APPROVED THIS MESSAGE OF DELIVERANCE
FROM CONSERVATIVE FALSEHOODS
I ASK ONLY IF I AM WRONG GIVE ME FACTS AND I WILL CORRECT.
I ERR BUT I DO NOT WRITE WITH INTENT TO DECEIVE
8-26-09 USA TODAY—CBO AND CEA PROJECT DEFICITS OF 9 TRILLION OVER NEXT TEN YEARS. REPUBLICANS, PER USUAL, JUMP ON OBAMA CASE.
REP. BOEHNER “TODAY’S REPORTS CONFIRM WHAT THE WHITE HOUSE HAS BEEN TRYING TO HIDE.
THE DEMOCRATS OUT-OF–CONTROL SPENDING BINGE IS BURYING OUR CHILDREN AND GRANDCHILDREN UNDER A MOUNTAIN OF UNSUSTAINABLE DEBT”.
This is so stupid it is a good laugh. He took us on a Spend-Borrow binge from 1000B of debt to 11,000B. He took us on a spend binge from 600B to 4000B.
These guys have one simple trait—deceive—distract from truth—attack attack
Yes! No question. It is going to take much Spend-Tax-Borrow for years to correct the mess created in prior twenty years of conservative control.
How easy the people forget the Balanced Budgets=Surpluses under Clinton and 8 good years.
WOW—8 YEARS=5000B + INCREASE IN DEBT UNDER BOEHNER-BUSH
1830B IN CLINTON LAST YEAR OF SPENDING TO 4000B UNDER BUSH LAST YEAR OF SPENDING
SPENDERS + DEBTORS + LIARS = CONSERVATIVES
ONE MAJOR TRUTH—IF A CONSERVATIVE LEADER SAYS IT --IT IS PART TRUE.
NEVER TRUST A CONSERVATIVE IN WASHINGTON. NEVER. NEVER. NEVER.
If I err give me facts I will correct. cswinney2@triad.rr.com
Political historian since 1991 on Reagan-Clinton-Bush II
Author=-Lifeaholic-Workaholic to Lifeaholic Success
Author-unpublished---ALL AMERICAN PARTY-How Democrats created a Great Middle Class and Conservatives are determined to destroy it
Oct 7, 2009 at 10:38 AM | Unregistered Commenterclarence swinney
Yes, I think oversight of the Fed is terrible. However, the bailout started under the Bush administion last Fall. Hundreds of billions were handed out under the Bush administration with little or no accountability demanded for all that money.

Then Obama comes in and inherits that shithole. He at least has done some things in terms of accountbility, like pointing out the huge bonuses and vacations these CEO's and their staffs have been taking with our taxpayer money. But yes, plenty more needs to be done. It is a mess.

How selective a memory a person must have to imply that this was Obama's baby. The bailout started under the Bush administration, as the gentleman mentioned several times "since last September (2008)". None of this would even have been necessary had not the Republicans made legal extremely shady, and at best, unwise, lending and investing practices.
Oct 8, 2009 at 12:38 AM | Unregistered CommenterGpj
It's pretty obvious that the Inspector General does not have any control over this entity. Not knowing where $10 trillion money went to of who are the recipients of this outrageous amount intensifies my need to say that this stupid bitch needs to go. Her evasive answers to the congressman demonstrate the typical "criminal attitude". Directly or indirectly, voluntarily or involuntarily, she is the responsible head of this mess that will last an eternity and my kids and grandkids will have to swallow what this bitch didn't control.
She states to the congressman that a review is happening to determing facts.. The congressman asks if any investigation has been done, which it is a totally different thing. She cannot get it that a review is not an investigation. Her feet are so deep in her on shit that she has failed to detect FIRST that balance sheets were worse than a 18 year old party-boy checkbook. Where are all the incopentents that have made her also fail?
Somebody wrote about this article, it's not a big thing to lose $10 trillion but it is a big deal if someone smokes a joint. In a country where most of our liberties have been jeopardize by Islamic extremists, corrupt politicians, anti-western sentiment organizations, and a socialist tainted government, we are focusing on small pictures rather than what is affecting us as a nation.
Does anybody remember any president that gets involved in petty things such as Obama getting involved with a dispute between a white cop and a black citizen? Does anybody recalls any president that orders the US Postal Office to produce a stamp in memories of Muslim people? Only in America! the very top leader of the nation has no control of his own department leaders, and the Inspector General shall be one of the most important and critical office to be on top.
We are the ones to blame. We choose Obama. This Muslim socialist must go. The Inspector General must also go. Unfortunately, we will still getting slammed with this $10 trillion that nobody responds or knows where the money went.
Oct 9, 2009 at 8:24 AM | Unregistered CommenterVictor G.
Don't blame Bush you damned democratic morons, this is on Obamas shoulders; change? Yow change, going to break the country. THANK YOU OBAMA AND ALL YOU OTHER WORTHLESS DEMOCRATS.
Oct 10, 2009 at 4:26 PM | Unregistered CommenterKaren Wade
We're going to self destruct. First a massive civil war in this country, which will spread all over the World. WW 3 will begin and the human race will almost completely terminate itslef. Maybe a few stragglers left here and there who will be demoralized and useless. Gorillas, having been almost completely protected from harm in the Congo deep jungles, nuclear fallout or otherwise, will emerge as the next apex race. They have the ultimate, perfect social structure with the males dominant, culminating with the Silverback who leads his troop. All members of the troop look to the dominant Silverback for all aspects of leadership and protection. There is absolutely NO feminism in gorilla culture- females know their place. Thru the ages (at least 1000 years) as long as Gorilla society maintains this and the Silverbacks keep thier status, they will never experience the destructive, debilitating effects of feminism on thier society. Over the couple of hundred years after WW 3, the gorillas population will grow and they will expand over all continents, learning metalurgy, navigation, language, mathematics, etc. However they will learn FAST since the remnants of human civilization will be left behind. Silverbacks probably will even discover and mate with some of the left over female human stragglers, creating the Ubergorilla- super smart AND super strong (the average Silverback has the strength of at least 8 human males and can easily flip over cars). Knowing the history of the human race, the Ubergorillas will avoid most of our pitfalls and probably find some other means than money to exchange goods & services- perhaps female labor as a commodity. Vive la Gorilla! Heil Ubergorilla!
Oct 13, 2009 at 6:06 PM | Unregistered CommenterGene
Who was in power September 2008 when they started to gave some of this money out?
Oct 13, 2009 at 7:58 PM | Unregistered CommenterBeaurocraticism
The problem is, no one can just stand up and tell this airhead, "YOU'RE FIRED!"
This is such a tangled web of lies, cover-ups, falsehoods and back room atta girl/boy back slapping
we will never get to the bottom of it.

quickly loosing hope for this country...
Oct 15, 2009 at 7:22 PM | Unregistered Commenterpatonthebak

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