TARP - a $700 billion funding provision designed to rescue the banking industry, a funding source that has seen anywhere between 9 and 24 trillion (no one knows for certain; could be much more) pass through its authority. I doubt that Obama knew anything about this, initially, but 90% of this excess was on "his watch." The real issue, here, is the potential use of TARP funding by Obama in the funding of ACORN and General Motors loan payback.
There is the question of why Fannie and Freddie were excluded from the Frank/Dodd financial regulatory bill. It is not that there is fraud, necessarily, in this case. Rather, our question is this: what in the world is going on and why has the Administration refused to delve into this question? Understand that on Christmas Eve, 2009, the Democrat Super Congress gave Obama access to the Fannie/Freddie funds without the need to account for his use of those funds. Therein is the problem.
The 2009 Stimulus and the fact that 73.4% of all its expended monies went to Democrat districts as opposed to Republican.
The takeover of General Motors and the fact that $54 billion was given to that company's union for the purpose of refreshing its retirement and benefits fund. (What are they going to do when Obama is gone ???!!)
The General Motors payback scheme in which $11 billion was paid back to the "people" out of TARP funding. None of the payback came from GM profits because, at the time, there was no profit. You should know that on April 7 of 2010, GM reported a $3.4 billion loss for the fourth quarter of 2009 and fourteen days later, April 21, repaid $8.1 billion in "loans" from the United States and Canada.
The Chrysler bail-out, something we do not hear much about, was more about the bail-out of the foreign company, Fiat, than Chrysler.
The Fiat purchase of Chrysler this past July at a cost of 1.3 billion dollars to the taxpayers of this country. That's is a scandal.
The destruction of teacher and police retirement funds embedded in the primary bond holdings of management firms with GM and Chrysler. These retirement funds were paid 40 cents on the dollar for their "investments," a total that did not return their original funding totals - all as Obama and Company orchestrated the union paybacks we know as the "GM and Chrysler bail-outs."
Solyndra (a solar panel manufacturing company) and the nefarious lending practices of the Obama Administration . . . . . . . giving loans of 535 million dollars to this start up company [almost immediately] after the Bush Administration had put the project's funding on hold. The company went into bankruptcy just weeks ago after the lending agreement was illegally changed to protect private investors, individuals who once "bundled" campaign money for Obama's election in 2008. There are emails traced back to the White House (Joe Biden) that demonstrate an approving knowledge of these shenanigans.
Note: the reader will appreciate this article from a Chicago reporter: Obama's Solyndra scandal reeks of the Chicago Way
Fast and Furious - the gun running scandal that promises to be as "big" as the Solyndra scandal. Two AFT agents have been killed with weapons belonging to the 2,200 guns and rifles sold to Mexican gangsters within the last two years. The guns had no tracking devices attached to them and, to this day, hundreds of them are still "missing." This scandal goes into the Department of Justice and has great potential as a scandal.
Gibson Guitar: the DOJ has confiscated more than a million dollars worth of wood inventories from this company and is threatening "closure." The owner of Gidson is a Republican donor and the "illegal inventory" is the very same material used by every other guitar manufacturing company in this country -- every one of them.
General Shelton's testimony concerning a company called "Light Squared." All testimony from military personnel is vetted by the Pentagon, the DOJ and the White House. Turns out that during this vetting process, the Obama Administration wanted General Shelton to make statements that he believed to be untrue. He refused and has testified to this fact during this past week.
The expense of "green money" coming out of the '09 Stimulus is being reviewed. Solyndra is not the only company receiving Federal funding before going broke. Evergreen Solar, Spectra Watt, Mountain Plaza Inc, and Olson Mills are all green companies that have or are going into bankruptcy. "Green" jobs, to date, are costing the American taxpayer $5 million for each job.
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