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Heat On Fed Picks Up As Darrell Issa Demands Full Production Of All AIG-Related Records
The $182 billion bail out that just won't quit. In a latter just released, Darrell Issa, true to his promise, continues hounding Bernanke. "In light of your professed commitments and your apparent
desire to cooperate with this committee’s investigation, I am
writing to request that you voluntarily produce to this
committee all records and communications in the possession of
the Federal Reserve referring or relating to all decision to extend credit or other funding to AIG, the decision to pay AIG's counterparties at par, and the disclosure of information related to counterparty payments."
Issa has asked that Bernanke deliver all requested documents no later than 5:00 pm on Tuesday, March 2. This gives the Federal Reserve about 10 working days to comb through at least a million pages. We wish them all the best, as we eagerly anticipate the production of the the much desired by Zero Hedge financial analysis prepared by Morgan Stanley, discussing the AIG bankruptcy option in February of 2009.
In addition, in a parallel letter to Edolphus Towns, Issa says: "it is imperative that the Committee obtain all information in the possession of the Federal Reserve Board of Governors and the Treasury Department related to the AIG bailout, including the decision to pay AIG's counterparties at par and subsequent efforts to prevent disclosure of information related to the payments. Senator Jim Bunning, who is familiar with documents in the possession of the Board of Governors, publicly stated that the Board of Governors is in possession of documents that show troubling details about Chairman Bernanke's role in the AIG bailout. As I wrote to you on January 26, 2010, my office has received information from a whistleblower that confirms Senator Bunning's public statements. We now know from several sources that both the Federal Reserve and the Treasury Department are in possession of documents that are essential to inform the Committee's investigation."
Full Issa letter to Bernanke below (link) and to Towns (link).
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The roof, the roof, the roof is on fire...
OMG that's funny shit man!
LOL!!!!
This is the funniest goddamn website I have been on in quite a while. It seems nearly every poster, except Leo, has that Matt Taibbi type of fucking hilarious, irreverant hyperbolic style that allows you to laugh when you really want to just burn down the neighborhood and turn your own car over in the driveway.
Kudos Zerohedgers, you're my therapy.
Someone find me Kolivakis or whatever his name is, I demand the right to his lunch money. WHERE ARE YOU LEO, YOU CAN'T HIDE FOREVER.
Give Issa an A+ for staying on the Fed. But they will shit and shuffle around , of course, knowing full well that even if it went to the Supreme Court the Fed independence gig will be held sacred. The deck is stacked all the way up the chain....... in the interest of world economic security, of course.
I sure dream that David could down Goliath with a slingshot. However, Issa needs a lot more Critters to step into the fray.......all of whom are much, much more financially challenged than he.
Where is Ron Paul in all this? Is he actively working with Issa, or pursuing an indepedent but congruent course in this matter?
Notice that Towns, the Committee Chairman from NY , didn't sign this letter. He lets the Ranking Minority Member Issa do it. Part of the game to make it look like somebody's on the job on this pesky Government Oversight committee that does jack shit anyway. Also throws a bone to the minority grenade throwers.
When push comes to shove, this sham committee of Critters will fold like a lawn chair. Issa's the only one with any balls.
Towns is also hiding in his foxhole throughout all of this because it's come to light that he was a Friend of Angelo, or some similar favored customer of the subprime sleaze.
RP, besides the Fed Audit HR1207/S604, has also written a new bill for legalizing alternative currency (read: money other than USD being legal for wide usage). There is more, see RP's site for more info www.ronpaul.com
Hopefully not vomiting from his plutonium laced oatmeal breakfast, I hope.
Never try to outfox a rich Lebanese whose Viper company
demanded, STEP AWAY FROM THE CAR.
If he, Ron Paul and the Wolf keep up pressure for government
accountability, with any luck they may get somewhere
before the Fed folds and the Treasury fails from the toxic
debt mess they created and can't all pawn off on broken
taxpayers like Joe Pilot...
http://www.jubileeprosperity.com/
+1, that's why it's imperative that everyone hammer their representatives with emails regarding this and demanding that action be taken, we won't sit idly by while this type of crap continues.
D.C. crapital
So, could this mean purgery for Ben regarding his "I had no ... direct .... involvement" comment if it's released?
Dear Repp. Issa
Do you know who you are fucking with? Better men then you have been killed for fucking with us. I expect a full apology for your impudence on March 1, public self flagellation will gain my favor.
XOXO
"Helicopter" Ben Bernanke
Remember Congressman George Hansen that went after the IRS in the '80's. He went to Federal Prison on trumped up charges and suffered at the hands of the machine!
Diesel Therapy just to start
http://www.constitution.org/ghansen/conghansen.htm
If your congress critter is on the committee, get on them to join Issa:
Democrats
Chairman, Edolphus Towns, New York
Rep. Paul E. Kanjorski, Pennsylvania
Rep. Carolyn B. Maloney, New York
Rep. Elijah E. Cummings, Maryland
Rep. Dennis J. Kucinich, Ohio
Rep. John F. Tierney, Massachusetts
Rep. Wm. Lacy Clay, Missouri
Rep. Diane E. Watson, California
Rep. Stephen F. Lynch, Massachusetts
Rep. Jim Cooper, Tennessee
Rep. Gerald E. Connolly, Virginia
Rep. Mike Quigley, Illinois
Rep. Marcy Kaptur, Ohio
Rep. Eleanor Holmes Norton, District of Columbia
Rep. Patrick Kennedy, Rhode Island
Rep. Danny Davis, Illinois
Rep. Chris Van Hollen, Maryland
Rep. Henry Cuellar, Texas
Rep. Paul W. Hodes, New Hampshire
Rep. Christopher S. Murphy, Connecticut
Rep. Peter Welch, Vermont
Rep. Bill Foster, Illinois
Rep. Jackie Speier, California
Rep. Steve Driehaus, Ohio
Rep. Judy Chu, California
Republicans
Rep. Darrell Issa, California, Ranking Minority Member
Rep. Dan Burton, Indiana
Rep. John L. Mica, Florida
Rep. Mark E. Souder, Indiana
Rep. John J. Duncan, Jr., Tennessee
Rep. Michael Turner, Ohio
Rep. Lynn A. Westmoreland, Georgia
Rep. Patrick T. McHenry, North Carolina
Rep. Brian Bilbray, California
Rep. Jim Jordan, Ohio
Rep. Jeff Flake, Arizona
Rep. Jeff Fortenberry, Nebraska
Rep. Jason Chaffetz, Utah
Rep. Aaron Schock, Illinois
Rep. Blaine Luetkemeyer, Missouri
Rep. Anh "Joseph" Cao, Louisiana
http://oversight.house.gov/
ED: Just as Rep. Ron Brown was about to blow the whistle on the Clinton government, he was killed in a mysterious plane crash... or so the government said, until an autopsy showed that he had apparently been first shot in the head. This is one reason why Congress is so afraid to actually do anything significant to clean up government. It also accounts for the confidentiality of this letter. As George Hansen well knows, the shadowy power players behind the scenes are dangerous psychopaths. ]
http://www.constitution.org/ghansen/conghansen.htm
and shall we mention bill colby and vincent foster?
of course we shall....
http://www.pythiapress.com/wartales/colby.htm
excellent article on colby's demise...
Bubbles Ben may just fly his privately owned Cessna into the Capital bldg in protest.
I feel like I'm in a Dickens novel...Edolphus, Issa and Bunning..."The Tale of Two Cities"...Viva Revolution!!!
Issa is my hero.
The Fed's copy of that letter has a long stinky brown streak on the front of it. We all know that Ben uses such requests for toilet paper.
Who are we kidding here? The sound of silence from the Fed will continue long after March 2. There's no reason to get excited until a subpoena is issued.
No, he saves copies of the Constitution for that.
That's quite a congressional lineup.
Kanjorski, Cooper, Flake.
All three just got back from the tattoo parlor where they had
"I Heart Blankfein"
"Mom and Dimon"
"Born to Raise TARP"
tattooed on their asses.
This is good news. The wheels grind on. Hard work, behind the scenes, connecting the dots. That is the only way to clean out this mess. And, yes, have no doubt that it is dangerous work.
Why must they address him as the Honorable Ben Bernanke? If he was really honorable, he would have drove a sword in his gut months ago.
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