Federal Reserve Chairman Ben S. Bernanke and former Treasury Secretary Henry M. Paulson Jr. misled the public about the financial weakness of Bank of America and other early recipients of the government's $700 billion Wall Street bailout, creating "unrealistic expectations" about the companies and damaging the program's credibility, according to a report by the program's independent watchdog.
The Washington Times: Bernanke, Paulson misled public on bailouts
LIES, LIES, LIES
"At this juncture, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained." March 28th, 2007. See more - Ben Bernanke's Lies
Why are we still listening to this Bernanke?
"We've got strong financial institutions . . . Our markets are the envy of the world. They're resilient, they're...innovative, they're flexible. I think we move very quickly to address situations in this country, and, as I said, our financial institutions are strong." March 16th, 2008. See more - Henry Paulson's Lies
McCotter: Republicans Oppose the Paulson Splurge
So, Paulson lied? He’s misled America from Day One.
Before we get to the new TARP IG revelations of Hank Paulson’s deceit on the health of financial institutions, let’s take a trip down bank bailout memory lane. He’s been misleading America from Day One.
"Both parties in Washington are about to screw us over on an unprecedented scale. They are threatening us with fiscal apocalypse if we don’t fork over $700 billion to Treasury Secretary Henry Paulson and allow him to dole it out to whomever he chooses in whatever amount he chooses — without public input or recourse. They are rushing like mad to cram this Mother of All Bailouts down our throats in the next 72-96 hours. And right there in the text of the proposal is this naked power grab: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
This revelations about Hank Paulson's lies will completely blow you away, if you allow time for yourself to read it thoroughly.
EXCLUSIVE: Paulson misled America from Day One
These two partners in crime are the greatest jokes in the history of human civilization. Too much damage was, and still is, being done by them. The final stage of the financial apocalypse is about to set in the near future.
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