TARP Inspector: Bailout Could Cost $23.7 TRILLION

U.S. Rescue May Reach $23.7 Trillion, Barofsky Says: http://davidkretzmann.com/forums/index.php?topic=291.0

H.R. 1207 and S.604: http://davidkretzmann.com/research/hr1207.php

"What America has succeeded in creating is not an economy impervious to shocks, but merely one which enables their consequences to be postponed to a later date." -- Peter Schiff

"July 20 (Bloomberg) -- U.S. taxpayers may be on the hook for as much as $23.7 trillion to bolster the economy and bail out financial companies, said Neil Barofsky, special inspector general for the Treasurys Troubled Asset Relief Program.

The Treasurys $700 billion bank-investment program represents a fraction of all federal support to resuscitate the U.S. financial system, including $6.8 trillion in aid offered by the Federal Reserve, Barofsky said in a report released today. "

http://www.DavidKretzmann.com

Category:

News & Politics

Tags:

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• relief
• program
• tarp
• george
• bush
• john
• mccain
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• suspension
• bipartisan
• stimulus
• bailout
• neil
• barofsky
• inspector
• general
• federal
• reserve
• trillions
• panic
• of
• 1907
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• barack
• obama

[DavidKretzmann]

The links I provided are the exact article I mention with Barofsky's quotes and interview. I provide the links to the articles on my website so people have an area to discuss and debate the article and video. The words within the links I provided are not mine, merely a place where people can get a summary of Barofsky's statements and H.R. 1207.

[thegermanandre]

U prove ur claims very well, cuz u refer to ur very own homepage. Well, nice noob. Too many idiots talk too much about things they really dont understand. Pointless nonsense.

[DavidKretzmann]

The sources at my website don't provide the information? What do you feel I don't understand? I'm fine with you disagreeing with my statements, but attack with facts, not insults.

[Spurgeon123]

Americans are deceived into believing that they have rights or a voice in the scheme of things. The illusion can be stripped away with one false flag or pandemic. America is currently a police state with huge electronic surveillance and tracking schemes with GPS and unlimited budgets for the defense dept and homeland security to protect the govt from Americans, not terrorists. Don't look under the bed or you won't sleep at night, its best to believe the illusion at times than see the reality

[wunderbeast]

You're such an alarmist and a paranoid conspiracy theorist...is what I would say if I were a blind automaton who depends on cable TV for news. Great post, and thank goodness for critical thinkers like you.

[SK3Nives]

ok, ty.

[SK3Nives]

h.r. 1207 has 276 co-sponsors 7/27/09. If they get to 280 it can be passed even under suspension.

How many congress man are there total?

[thegermanandre]

its a fact that u dont have sources. Watch the Don't Panic vidz from Mike, if u dont know him. And watch his blog feveriam.blogspot.

Search for feveriam on youtube. I watched his vidz by coincidence, but he always refers to twelegraph etc.

[SteveBKNY]

This is good news... the only way to get rid of govt is for it to go broke.. Mad Max 2013!!!!

[jahan07]

Otherwise it is like Enron telling buy its stock, and shoving it down people's throats, but it won't agree to an audit.

[jahan07]

Power corrupts, so absolute power corrupts absolutely.

I am personally not that against Fed being independent, as long as individuals impacted by Fed are also allowed to be independent, which is not the case i.e.

1) People can choose to use a different currency, gold or other monetary unit for exchange of goods or services

2) People can choose not to partcipate in income tax a portion of which goes to pay of loans issued by fed and the interest on it.