Proof in Feds forced healthy banks to take bailout - is there a hidden agenda? (unemployment, illegal)

[vec101]

The proof is now in that the Feds forced banks to take the bailout money - even healthy banks which did not need the money.

Hmmm, pattern or coincidence in events? Let's see:

Can you imagine -- you have a profitable business, the Feds come in and tell you that you HAVE to take money from them, then the Feds start controlling your business. You do things right, others in your industry do them wrong, yet the Feds in essence seize control of your company.

The media created a feeding frenzy pitting US citizens against financial institutions. Result - most citizens support the Fed's hand in the banks.

Geithner recently announced plans to create a "Fed Supercop" to oversee all financial institutions, executive pay, etc.

Here's the zinger....
Couple months ago at the G20 Summit, these world leaders (including Obama) agreed to establish a Financial Stability Board which will set up regulations and oversee all systemically important financial institutions, instruments and markets. It also includes regulation of executive pay and corporate social responsibility.

Let's see, world leaders have been wanting for years to set up a board to oversee all (including US) financial institutions, US Feds get control of even healthy US financial institutions, citizens support the Fed involvement, US Feds announce plans of a Supercop to oversee financial institutions.

Coincidence or a pattern here?

Wake up America.

The Judicial Watch website has links to the documents.

Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it forced the Obama administration to release documents about the October 13, 2008, Treasury Department meeting that coerced major banks to allow the government to take $250 billion equity stakes. Among the other news, the documents confirm former Treasury Secretary Hank Paulson told the CEOs of nine major banks that they had no choice but to allow the government to take equity stakes in their institutions. Judicial Watch Forces Release of Bank Bailout Documents | Judicial Watch

"These documents show our government exercising unrestrained power over the private sector," said Judicial Watch President Tom Fitton in a statement. Documents: Paulson forced 9 bank CEOs into bailout - News Wires - CNBC.com (http://www.cnbc.com/id/30742580 - broken link)

Paulson wanted healthy institutions that did not necessarily need capital to participate in the program first, to remove any stigma that might be associated with a bailout. First nine banks were forced to take bailouts - The Boston Globe

Documents: Paulson forced banks into bailout - Economy in Turmoil- msnbc.com and other sources on the net

Judicial Watch Forces Release of Bank Bailout Documents
Documents Detail Historic Treasury/Bankers Meeting – but Geithner Input on Key Document Withheld from the Public
Judicial Watch Forces Release of Bank Bailout Documents | Judicial Watch

For more info on the G20 Summit, see thread titled Obama gives other countries power to regulate US financial institutions.

[Sagran]

Are you saying that Bush and Obama are in a conspiracy and working towards the same goal?

[GregW]

Considering that the privately operated financial institutions paid thousands of CEO's billions of dollars to run the system into the ground, I cannot see where a publicly controlled financial watchdog is inappropriate. Capitalism has always does best when it has been strictly regulated and the speculators suppressed. This is a good idea because an individual small investor simply cannot trust the private sector financiers to do anything but steal the money.

[vec101]

"Are you saying that Bush and Obama are in a conspiracy" - No.

" and working towards the same goal?" :
The US is NOT run by one man - we do not live in a dictatorship.
As much as we would like to think all things end or begin with one President, they do not.
As stated, from what I have read, most leaders of the G20 have been wanting this for years and years.

BTW:
I have read that at the G20 summit last year, Bush declined to enter into an agreement to establish such a board with the G20.
You did not see me pointing fingers at Obama about this.

[vec101]

Originally Posted by GregW

Considering that the privately operated financial institutions paid thousands of CEO's billions of dollars to run the system into the ground, I cannot see where a publicly controlled financial watchdog is inappropriate. Capitalism has always does best when it has been strictly regulated and the speculators suppressed. This is a good idea because an individual small investor simply cannot trust the private sector financiers to do anything but steal the money.

Any thoughts on not just the US overseeing our financial institutions but a group of foreign leaders also having a hand in setting regs and establishing oversight of US financial institutions?

[sanrene]

Obama and his thugs are also making it difficult for those institutions to pay back bailout money. Why is that?

[cleanhouse]

Originally Posted by Sagran

Are you saying that Bush and Obama are in a conspiracy and working towards the same goal?

Are they in a conspiracy- No

Were / Are they working toward the same goal- YES- To get as much power in Washington as possible.

[BigHouse9]

It is so obvious that government intervention is what got us into this mess in the first place with their regulations, now all banks will report to the overlord. Really makes you think and shows how power placed in one a single entity is a very bad thing. Especially when that one entity, in this case the federal government, is so clueless.

[cleanhouse]

Originally Posted by BigHouse9

It is so obvious that government intervention is what got us into this mess in the first place with their regulations, now all banks will report to the overlord. Really makes you think and shows how power placed in one a single entity is a very bad thing. Especially when that one entity, in this case the federal government, is so clueless.

When the results of these actions (which may or maynot be illegal) come to fruition there are going to be some scary times in America. When Small business collapses and unemployment reaches 14-16% the Governmant will have to deal with the American people. The Sheep are happy the government is stepping in now because they are scared of financial disaster but they will see the real disaster has not shown up yet.

[GregW]

vec101 - I do not think that, at the highest levels, there is an American finance system. It has been taken over by an international financial system operating with out any effective regulation. We have lost our sovereignty in these matters. We are now a modest part of the world wide trade in money. New York is just one of several equally large international finance centers. I think it would be better to have some say in deciding our financial fate than none at all.