Wednesday, December 10, 2008

Neel Kashkari Defends Bailout Financial Scam

Neel Kashkari the secretary for financial stability today told a committee that he had not formed any requirements for the institutions receiving bailout money. This further speaks to my suspicion that the bailout was just a reason for the Fed and government to defraud the American tax payer. Mr Kashkari at times rolled his eyes and looked annoyed when accepting questions from the committee.
According to some of the comments made during the hearing. AIG execs received bonus payments of thirty million dollars. Mr. Kashkari felt his organization had performed their tasks responsibly. Currently there are no regulations binding recipients of bailout money. Mr Kashkari believes it is unreasonable to expect these institutions will not filter the bailout funds to their subsidiaries. If the institutions are allowed to funnel the bailout funds to subsidiaries the funds can be paid out in bonuses, stock buybacks, or for acquisitions.
At this time Mr Kashkari claims the Fed has not discussed the request of the additional three hundred and fifty billion dollars. However, I am almost certain they have discussed the additional funds and have already assigned them.
Mr. Kashkari has wasted the first three hundred and fifty billion dollars and I am not willing to allow him to funnel an additional amount to his Wall Street buddies.

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