Barofsky says TARP ‘Almost Certainly’ Will Bring Losses to US Taxpayer

November 13th, 2009 by stacyherbert

Stacy Summary:  Fraud is the system.

“When I first took office, I can’t tell you how many times I’d be having a sit-down and warning about potential fraud in the program and I would hear a response basically saying, ‘Oh, they’re bankers, and they wouldn’t put their reputations at risk by committing fraud,’” he said.

Tags:   · · 20 Comments

20 responses so far ↓

  • Dedo
    Nov 13, 2009 at 3:30 am

    Yep,..you know it!

  • PatrickEA
    Nov 13, 2009 at 3:33 am

    the people get what they deserve.

  • Dedo
    Nov 13, 2009 at 3:33 am

    The system will always be managed for the benefit of the PTB, it always has been regardless of folks preconceptions,.even our words have been manipulated to guide our thoughts and actions,..go figure!
    http://www.transparent.com/esperanto/2009/03/25/the-worlds-most-expressive-language/

  • Mother earth
    Nov 13, 2009 at 3:44 am

    @Phil

    This guy can hardly read..Is this the only way to qunch an insatiable appetite for M&S?

    Imho it is a way to remain distant from reality, by being surprised about news, looking at it quantly (like the don’t panic guy). The truth is we all could be a hell of al lot more wealthy if we just decided to kick the frikin genocidal confukers out.

  • Phil
    Nov 13, 2009 at 3:55 am

    @Mother …”This guy can hardly read..Is this the only way to qunch an insatiable appetite for M&S?”

    I find his voice very relaxing … and enables me to eat/drink my croissant and coffee at the same time .
    ;-)

    Also, he provides of course a good service to those people that have problems with their eyesight … OAPs for example, of which I am not yet one.

    As to distancing oneself from reality ; I thought that was the FED’s privilege … not ours.

  • AM
    Nov 13, 2009 at 4:00 am

    when was the time bankers had a good reputation? when the financed hitler? or when they decided to create a monopoly on printing money and ask interest (on base of a countries (peoples) own reserves/savings)? or when they engineered an collapse?
    Quite interesting how they stick with the 700 billion number; how come the state debt is 23 trillion then? ok the first 8 were on bush his account, yet i think the damage is already done; nothing to get from goldman sachs all the money went in to the black hole of debt nor from the FED. Would be a nice switch and bait to blame auditing the fed (first pass it) for collapse of (trust in) the dollar. But what a genius comment that in the biggest robbery in history the “victims” (there were some people overlending, but 99% to blame on the banks) are likely not to see all their money back. He must have a glass ball.

  • Mother earth
    Nov 13, 2009 at 4:05 am

    @Phil

    That was what I though (relaxing voice)…So you offer some content in a apealing voice, and after a while people get hooked on the voice. Recognize a pattern? ;-)

  • Bonn
    Nov 13, 2009 at 4:12 am

    @ PatrickEA
    the people get what they deserve.

    P thats not a fair thing to say . Just as the way you trust the waiter in a Dinner not to put poison in your food.
    Common these people deserve to go to Jail.The Wall Street Criminals . Try robbing 20 $ from a store, You’ll probably get Shot or Land up in a Gay Prison.

  • Bonn
    Nov 13, 2009 at 4:13 am

    No Offence to Gays
    But i guess 70 % of us are straight dunno the actual figures dont really care too

  • Bill Stewart
    Nov 13, 2009 at 4:27 am

    An Australian or NZ documentary on Iceland that you need to see, and it is up to date:

    http://www.youtube.com/watch?v=r7InlN2x08Q

  • Phil
    Nov 13, 2009 at 4:34 am

    @Mother … did you get out of the wrong side of the bed this morning ?
    ;-)

  • frances snoot
    Nov 13, 2009 at 5:59 am

    @Phil:
    “Mo-ne-ta-ry ea-sing has bin a mun-e-tary fai-lure…”

    He could use a bar-bor.

  • Justget Itright
    Nov 13, 2009 at 7:23 am

    Massive amounts of US people need to demand clawbacks from beneficiaries of tarp. Call your reps, and scream for clawbacks!

  • frances snoot
    Nov 13, 2009 at 7:31 am

    “The EU leaders will also tackle another highly controversial issue – how to share the costs of paying for developing nations to adapt to climate change. The European Commission, the EU’s executive arm, recommends the bloc pay more than $22 billion a year to poorer countries. Aid groups say Europe should pay more.
    Either way, less wealthy EU members, like Poland, want richer ones, like Germany, to pay more.”

    http://www.voanews.com/english/2009-10-29-voa8.cfm

  • frances snoot
    Nov 13, 2009 at 7:34 am

    “It’ll be a critical summit, from the point of keeping the EU together, keeping consensus that the EU should maintain leadership on this issue,” said Brady. “That will involve keeping countries happy with the division of labor as regards carbon trading, as regards how much they want to hold back their own industrial development, even though they say – particularly many of the EU’s new countries – that they were poor for a long time, no different than the Chinese, that they have a right to develop their economy, that it is the rich countries in Europe that are more responsible for climate change than they are and they should get special treatment in any kind of EU position.”

    You mean the carbon credit system will LIMIT INDUSTRIAL DEVELOPMENT in countries for which the fat cats wish to see no development? What about China? Is Copenhagen about trade and industrial hegemony or ecology?

  • Ingvend Storrs
    Nov 13, 2009 at 12:06 pm

    Oh that’s just bureaucrat-blather-speak for a total ass poking amounting to Trillions (US). Whenever a dipsh*t political-hack-monkey-turd tells you that you’re in for a real ass poking in $$$, just add three (3) zeros in front of the decimal (comma for Euro-pukes) for the actual amount.

  • Ingvend Storrs
    Nov 13, 2009 at 12:12 pm

    @Mother Earth

    Dear Mother Earth,

    Do you really, in your wildest dreams, imagine that anyone, here, gives a tinker’s rotten what you look like? I can see you standing in front of the mirror just now, in adoration of your form. Try a cartoon avatar or a corporate logo, anything but your silly mug.

  • frances snoot
    Nov 13, 2009 at 12:40 pm

    @Ingvend:
    Perhaps it is not MotherEarth but only someone he aspires to be.

  • frances snoot
    Nov 13, 2009 at 12:41 pm

    “Oh that’s just bureaucrat-blather-speak for a total ass poking amounting to Trillions (US). Whenever a dipsh*t political-hack-monkey-turd tells you that you’re in for a real ass poking in $$$, just add three (3) zeros in front of the decimal (comma for Euro-pukes) for the actual amount.”

    Those two sentences are a keeper.