Monday, November 10, 2008

The United States Government is Lying to the American People About the $700 Billion Bailout II

Back on the 23rd of October, in a post I titled The United States Government is Lying to the American People About the $700 Billion Bailout, I noted just how “transparent” the U.S government is being in regards to the $700 billion bailout fiasco.  Meaning that the U.S. government is lying, obfuscating, and generally burying the truth in regards to this matter in the deepest, darkest hole they can.

Today, the lying, obfuscating and burying of the truth continues marching onward.

Fed Defies Transparency Aim in Refusal to Identify Bank Loans

Full scale nationalization of the financial industry will soon be upon us and the voices of reason, decrying this travesty, will be drowned out by the hordes drumming on the cannibal pot in anticipation of the chicken drop.

Posted by John Venlet on 11/10 at 09:06 AM
(0) Comments • (0) Trackbacks • Permalink

Thursday, October 23, 2008

The United States Government is Lying to the American People About the $700 Billion Bailout

Reading the title to this post many individuals may laugh and say, “Well, that’s nothing new,” and in essence, they would be correct.  The American people have been lied to on many occasions, heck, even now, the candidates running for the office of President are lying to you, though they may believe what they are saying.

But the boldface lies being told to the American people now, about the $700 billion bailout of the financial industry, should set your teeth on edge.  Case in point, the following statement from a U.S. Department of Treasury press release (hp1199) wherein Neel Kashkari, the Interim Assistant Secretary for Financial Stability, is addressing the Institute of International Bankers.

Treasury is committed to an open and transparent program with appropriate oversight. We look forward to continuing to work with the Oversight Board, the Inspector General, the Comptroller General, and the Congress as we set up and execute this program. Transparency will not only give the American people comfort in our execution, it will give the markets confidence in what form our action will take. (bold by ed.)

Pay particular attention to the United States government’s alleged commitment to a “transparent program,” and the “comfort” us poor American people will take in the “transparency” of the execution of this $700 billion bailout.

Okay.  Now, let’s take a look at how transparent these goings on are.  The Bank of New York Mellon has contracted with the United States government to act as a financial agent.  Fine.  Well, here’s a copy of the bank’s contract with the United States government (pdf format) directly from the U.S. Treasury’s website.  Now, scroll down to Exhibit B - Compensation of this contract (page 25 of 28 pages) and take a look at how much of your money the United States government is going to pay The Bank of New York Mellon.

What, you can’t tell?  Oh, the United States government blacked it out?!  Tell me, is that transparent?  Are you being comforted by this?

Via Billy Beck.

Posted by John Venlet on 10/23 at 03:46 PM
(0) Comments • (0) Trackbacks • Permalink
Page 1 of 1 pages