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i'll believe an Inspector General over Obama any day | by scleroplex
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i'll believe an Inspector General over Obama any day

the IG's book ->


"From his first day on the job, his efforts to protect against fraud and to hold the big banks accountable for how they spent taxpayer money were met with outright hostility from the Treasury officials in charge of the bailouts.


Barofsky discloses how, in serving the interests of the banks, Treasury Secretary Timothy Geithner and his team worked with Wall Street executives to design programs that would funnel vast amounts of taxpayer money to their firms and would have allowed them to game the markets and make huge profits with almost no risk and no accountability, while repeatedly fighting Barofsky’s efforts to put the necessary fraud protections in place.


His investigations also uncovered abject mismanagement of the bailout of insurance giant AIG and Geithner’s decision to allow the payment of millions of dollars in bonuses—including $7,700 to a kitchen worker and $7,000 to a mail room assistant—and that the Obama administration’s “TARP czar” lobbied for the executives to retain their high pay.


Providing stark details about how, meanwhile, the interests of homeowners and the broader public were betrayed, Barofsky recounts how Geithner and his team steadfastly failed to fix glaring flaws in the Obama administration’s homeowner relief program pointed out by Barofsky and other bailout watchdogs, rejecting anti-fraud measures, which unleashed a wave of abuses by mortgage providers against homeowners, even causing some who would not have lost their homes otherwise to go into foreclosure.


Ultimately only a small fraction (just $1.4 billion at the time he stepped down) of the $50 billion allocated to help homeowners was spent, while the funds expended to prop up the financial system—as Barofsky discloses—totaled $4.7 trillion."


Obama in reality looks like this. And before liars pop up and say it was just Geithner's fault, know clearly in the American system it is the President who handpicks his cabinet and Obama picked Geithner knowingly. And has stuck by him knowingly.


People should also read Confidence Men by Ron Suskind, another book that is a great service to the nation -


"Predictably, Barofsky, a life-long Democrat and 2008 Obama supporter, has now become a Prime Enemy of Democratic partisans and banker-loyal, establishment-protecting, status-quo-perpetuating apparatchiks."


"When Barofsky left his job as IG in 2011, a cowardly Obama official — naturally allowed by a Washington Post reporter to hide behind a shield of anonymity — maligned him as being desperate for media attention and “consistently wrong about a lot of big things” (without specifying any of those things). In an interview this week with Charlie Rose, Geithner pronounced himself “deeply offended” at Barofsky’s claims (without actually refuting them or claiming they are inaccurate)."


"[A]s usual, anyone who criticizes Obama — even life-long Democrats and those who supported him in 2008 — must harbor secret, malicious motives."


All Good Progressives must now collectively condemn the traitor.


"After all, if you don’t like that Barack Obama possesses the unilateral ability to decide who lives or dies, imagine how insufferable that power would be in the hands of the former Massachusetts governor. Instead of laughing with the president as he jokes about drone striking the Jonas Brothers, we would probably be stuck listening to an awkward Romney make dated quips about offing the Allman Brothers."


“Jonas brothers are here, they’re out there somewhere. Sasha and Malia are huge fans, but boys, don’t get any ideas. Two words for you: Predator drones. You will never see it coming. You think I’m joking?” — President Obama, 2010

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Taken on July 26, 2012