TARP - Neil Barofsky Interview

[tstruss912]

"The Titanic can't sink because it's made of steel." That's the level of retards we're dealing with here....it will fail....it will sink.

[SketchyBack]

$5 Trillion. Jesus Fucking Christ.

[michael0156]

We must abolish the Federal Reserve & make those banks repay that part of USA "debt" that was fraudulently created by the Fed

Otherwise we will go the way of Iceland. Their central bank "The Bank of Iceland" went into receivership. The IMF is trying to force the people to pay the central bank's fraudulent ponzi-scheme-derived debt

The IMF is threatens the people with WTO sanctions & credit rating drops. The people of Iceland have voted twice in the last year not to accept the fraudulent debt

[Tounushi]

Jim DeMint...



[hollaboutit]

crimes!

[tumbipanther]

Lmao... Ponzi scheme. Just keep printing that money USofA....

[michael0156]

@tumbipanther The USA Central Bank (The Federal Reserve) prints money. The US government CANNOT. It gave up that constitutionally derived authority in 1913 when it created the Federal Reserve, a private corporation of banks

The Fed LOANS money to us by printing it & buying INTEREST BEARING Treasury Bonds. The Fed doesn't hold the bonds, but sells them to China or Saudis for PURE PROFIT

The Fed must be abolished, ALL debt & interest they created or we paid put back in the American treasury

[RichoRosai]

So basically... I should move my life savings out of America before it plummets again and put it in China and developing markets index funds I guess.

[dragonflychainsaw]

have we buried our heads in the sand?

[kileer7]

Corruption is endemic to American finance. Expect losses, and accumulating debt for the foreseeable future. American Business culture fosters volatility in markets, which will lead to a total loss of confidence in the American economy. Solutions? I look at the physical world as it pertains to human life support: Who gets resources? Why do they get them? How are resources allocated? What are the contemporary needs of the average American? How will they be effected if economic integration is lost?

[kileer7]

@kileer7 By looking for solutions based in the physical world we can avoid political distractions, such as, divide and conquer rhetoric: "Progressives are socialists", "Conservatives are fascists"; the bottom line is that the global economic model, which is enforced by American military projection, is no longer viable. We need a new system.

[conrad152]

Excellent video.

[beornborg1]

As a Progressive I think we should all vote for Republican or Tea Party candidates. This should be done because we need to let them totally destroy this country; otherwise those people who have been spouting "trickle down", "succession", etc. will never learn.

Of course after the Reagan decades you'd think they would have figured out "trickle down" doesn't work. Or when Social Security surpluses don't count ... you'd think they'd learn.

Maybe a total collapse wouldn't make a difference.

[DeletedDelusion]

Brilliant interview.

So sad that the situation is that terrible.

[TheFlameoftheWest]

Great interview

[spaniardmale77]

Let's get ready for the 3rd world sweet peeps. From the moon to a historical elephant shit that asian kids will be studying along with the roman empire in 100 years. U cannot change shit when the people have been made dumber than shit. Any change that comes along like controlling the shit will be stop by retarded debates and dumb cunts.

[Thayer79]

What we need is a way to get people out of they're pop culture; star fucking ways and to pay attention to the country they live in and the policies that are being made. And a way to control disinformation without stepping on freedom. You get the whole nation not only interested in, but KNOWLEDGEABLE about politics and baseline economics then you'd almost have a think tank involving the entire nation.

[spaniardmale77]

@Thayer79 First, kill fox. 2nd, ban any republican from talking. 3rd, take every wall street cunt that had any part in fucking shit up to court and if guilty crucified them. Only way to save the boat. But it will not happen. We will learn this lesson like we all learn shit. The hard way. When we are all on the streets begging for food, killing each other off, and eating dogs and cats..then we might reflect on our society and the world. Until then, start getting a taste for dog and cat.

[Thayer79]

America is fixing to be another tragic history lesson. Except there may not be enough world left to record it for future learning. Almost all the other social, political, and economic ideas have failed. Unchecked capitalism will be next.

[michael0156]

Summers became president of Harvard in 2001 sponsored by Professor Shleifer (a friend). Shleifer & Harvard were indicted by DOJ in 2000 for a scam Shleifer ran in the early 90s when he led a Harvard team, with $50 million in govt funding, to create a Russian stock market. Shleifer's father, wife & a friend helped scam the Russians

Harvard (under president Summers) & Shleifer settled for $28 mil (Shleifer - $2 mil)

Summers got Harvard into derivatives for a loss of $1 billion so far

[spaniardmale77]

@michael0156 They are fucking cunts. But he went to Harvard...oooh. Not impress with a university who looses a billion due to its retardedness and then rewards the "professor" greedy cunts. Same with wall street pure pieces of shit that ruined the economy getting rewarded. Stupid cunts. No flowery debate, no differences of opinion, no people of higher minds having civil discourse....pure stupid greedy cunts. Period.

[michael0156]

The Federal Reserve is a private corp of banks created in 1913 & should be abolished

Originally chartered to CONTROL money printing The Fed now LOANS money to us by buying treasuries & selling them to other countries

Debt created in this way is unconstitutional. The Fed should be the payer of those treasuries & reimburse us for any bonds purchased in this way, sold to other countries/banks (or merely held by The Fed) & redeemed by the Treasury Dept

Most our "debt" would disappear

[michael0156]

google - Brooksley Born Greenspan & you will see that derivatives caused the economic collapse & banks' need for bailing

"Derivatives" is a big word for "gambling". Clinton allowed banks & other financial institutions to gamble by signing the Republican bill "Commodity Futures Modernization Act". Greenspan crippled Born to ensure the CFMA passed

Derivatives contracts call for 100s of billions of cash collateral in certain conditions, which collapsed institutions & dried up housing bubble cash

[Mar2623]

5 Trillion dollars ...... where could we find all that paper to print that ?

[Roeshamboe05]

Great interview. Very disappointing conversation but still a really good interview.

[damlurker]

its a Tarp...

[pinochska]

@damlurker you fuckin copycat

[wuezili]

Yet, another YT interview that has me wanting to blow my brains out. I love being well-informed.

[rahanonu]

scary

[BeingNobody1956]

damn, i didnt read the title clearly.  i thought i was going to see Cenk destroy that idiot neil boortz

[deathreaver3356]

its amazing how far we have come as a society and it pisses me off to think that we may very likely be brought down by these greedy incompetent fuckwit middlemen part of me wants to see the crash happen and watch as these cunts look on in horror as their world crumbles around them

[aaronsande]

"It's like a double-edged sword". No, it was already a double edged sword. Now you're telling us it's more like a pyramidal katana of death. Great.

[MrGnarus]

Toxic mortgages are not assets. the federal reserve has no assets.

They have plenty of assholes.

End the Federal Reserve.

[MrGnarus]

So let me get this clear, we( the government) are giving money to banks for free. The banks are then LOANING this money to the government at interest. The banks are keeping the money difference. We (the government) are using this loan to repay prior loans while continuing to run a deficit.

This is appears to look like money funneling and laundering at the same time.

[theoriginalKland]

@MrGnarus Pretty much, except for one detail. It's the Fed. that is giving them the money, not the government. The Federal Reserve is a privately run institution.

[muminrz]

We need to spread the word and select right people

[weslenforever]

Whatever the banks paid back, they did by raising our interest rates, adding dozens of new fees and losing our investments. We paid that bill at least twice.

[sosoman]

so the united states government have money to give to foigein banks but not to low income school in this ountry? that's a god damn shame

[wulf8121]

wow... that was depressing. It would be nice if Cenk would not only talk about the problems but devoted a good amount of time towards addressing possible solutions.

[TOTCD]

Great interview reality is scary.

[Salvysahagun]

answer - Glass Steagal.

I'm against regulations on the private sector but when the private sector is using public sector money that changes everything.

[xXRazorSharp101Xx]

Bill O'reilly should get some interview tips from Cenk.

[Sheeeeeenful]

great interview

[kazooga1234]

that was an extremely ha bisky interview

[BUCEnGAR]

Wow, great work Cenk.

This is the type of journalism that should be going on in the mainstream media.

It's unfortunate that I can only see this type of reporting on The Young Turks, while "real" news is doing pieces on orphaned puppies or brutal murderers because it garners more ratings.

[CognosSquare]

This is a fantastic interview. If you see one damn program about the economy this week. This is it.

[xxCesarxxOJxx]

it's a tarp!!!

[therealcharismatron]

Late to the party.

[squippy117]

first :D