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US Representative Barney Frank (D-Mass),House Financial Services Committee chair, helped author the bill that enabled OneUnited Bank and low-performing banks like it to get taxpayers bailout funds. But yesterday he appeared to distance himself from the troubled bank. “I never told any regulator I wanted OneUnited or any other bank to get TARP money," he said, adding, “At no point have I ever suggested any withholding of full regulatory scrutiny."

EASY QUESTION FOR BWANEY If there was no withholding of full regulatory scrutiny, which of these regs screwed-over taxpayers?

TITLE I—TROUBLED ASSETS RELIEF PROGRAM (required 'Congressional Oversight' sections listed)
Sec. 101. Purchases of troubled assets.
Sec. 102. Insurance of troubled assets.
Sec. 103. Considerations.
Sec. 104. Financial Stability Oversight Board.
Sec. 105. Reports.
Sec. 107. Contracting procedures.
Sec. 108. Conflicts of interest.
Sec. 111. Executive compensation and corporate governance.
Sec. 116. Oversight and audits.
Sec. 118. Funding.
Sec. 119. Judicial review and related matters.
Sec. 121. Special Inspector General for the Troubled Asset Relief Program.
Sec. 125. Congressional Oversight Panel.
Sec. 127. Cooperation with the FBI.
Sec. 129. Disclosures on exercise of loan authority.

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NOTEWORTHY OneUnited has made only one quarterly dividend payment on its TARP funds, because it’s still struggling financially. The bank lost $283,000 in the second quarter and set no money aside for loan losses, even though its nonperforming loans continue to grow.

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NOW HEAR THIS FWANKIE In HR 1424, there are enough rules, regs and CONGRESSIONAL OVERSIGHT REQUIRED that not one Thin Dime should have been 'misspent.'

The $700B TARP Bailout is now being called, "A MASTERFUL DECEIT." Congress' phony outrage is a puzzlement. The fact is you people flagrantly violated the law by throwing tax dollars at this abominable bank....that had connections. You people screwed-over the taxpayers.

Ergo, by extorting tax dollars for OneUnited Bank, Bwaney and Waters can be charged with several felonies.

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