Posted on 08/30/2017 5:06:29 PM PDT by Libloather
RALEIGH, N.C. — The North Carolina Housing Finance Agency misused federal money meant to help homeowners rework their mortgages after the recession, according to a government watchdog.
The Office of the Special Inspector General for the Troubled Asset Relief Program, commonly known as TARP, found more than $3 million in wasteful spending from the program's "Hardest Hit Fund" in housing agencies nationwide, including more than $107,000 in North Carolina, officials said.
The N.C. Housing Finance Agency disputes the findings but has already begun paying the money back, executive director Scott Farmer said Wednesday.
(Excerpt) Read more at wral.com ...
Oh, I'm pretty sure it's allowed somewhere in the fine print. Otherwise, they wouldn't have done it!
Government handout recipient privilege.
How are they “paying it back?” More tax money?
Cue Claude Raines
I was outraged when the TARP was up for debate to begin with for this very reason. There was no oversight or restrictions on how this money was used. It was just a blank check, because “we have to do something”.
Yeah, really, whose money goes to “paying it back”?? Oh, right, taxpayers again! Well maybe state and local vs. federal, but it’s usually the public getting reamed by the bastards.
Well, it begins!
Only $600 billion of waste yet to be found!
As Barky said, “I guess that there were not that many shovel ready jobs.”
Almost a trillion down the tubes. And now Trump wants another trillion!
So...go after all these criminals ! Is accountability so “then”?
Don’t hold your breath waiting for judicial reckoning. The current governor was the attorney general while this was going on.
TARP was supposed to be supervised. It was the last quarter of the GWB Admin. The Dems were in control of the House and Senate. The Stimulus, under the Obama Admin had absolutely NO OVERSIGHT. TARP finds were supposed to be paid back! Stimulus was nearly a trillion dollars of FREE MONEY TO OBAMA SUPPORTERS. All on the taxpayer ‘dime’. MR TRUMP, DRAIN THE SEWER!
I think IGs should be able to indict public employees with mandatory prosecution required by DAs.
The price tag for the Wall Street bailout is popularly put at $787 billion—---the actual size of TARP--the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside untraceable money to bail out financial firms and inject money into the markets.
To get a sense of the size of the real $14 trillion bailout, see MJ chart at web site. A guide to the pieces of the puzzle includes massive untraceable Treasury Department bailout programs.
Money Market Mutual Fund: In September 2008, the Treasury controlled by Obama/Emanuel announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury controlled by Obama/Emanuel made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid.
Government-sponsored enterprise (GSE) stock purchase: The Treasury controlled by Obama/Emanuel bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets."
GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury controlled by Obama/Emanuel may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion ---SNIP---.
LONG READ---go to web site to read more and checkout the shocking financial charts.
SOURCE http://motherjones.com/politics/2009/12/behind-real-size-bailout
cont
Pres Trump needs to ask Treasury officials what exactly Rahm Emanuel and Obama were doing there.
PAUSE TO REFLECT--- As taxpayers were being gulled by the TARP fraud, Obama had tight control of Treasury and spent trillions of tax dollars. Obama calculatedly placed his then-COS Rahm Emanuel in a dual role.......in the WH and at Treasury. Obama had a stranglehold on Treasury via COS Rahm Emanuel's dual role
STROLL DOWN MEMORY LANE Soon as they occupied the WH, Obama and the Chi/cons (a) took control of the US Census; Obama placed his COS Rahm Emanuel in control of the US Dept of the Treasury (including the conservative-suppressing IRS). Read on.
==========================================
THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move.
When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09
More here: http://online.wsj.com/article/SB124113406528875137.html
And Gomer Pyle.
It's time for the "[And] [So] It Begins" drinking game! Every time someone posts the neverending, pearl-clutching, hand-wringing, fainting couch
"[And] [So] It Begins"
- we take a drink!!
And so it begins....
And So It Begins.....
And so It begins
And so It begins
And So It Begins....
And so it begins
And so it begins.
And so it begins...
And so it begins.
And so it begins...
So it begins...
And so it begins.
And so it begins:
And so it begins.
So it begins,
So it begins.
And so it begins
and so it begins.....
And so it begins.
and so it begins.
And so it begins
And so it Begins….
A Romney we can respect (So it begins)
And So It Begins (Dollar Warnings)
And So It Begins! (And so it begins)
And so it begins....
(And So It Begins)
And so it begins again.....
School Is Renamed For Obama (And so it begins...)
So it begins.
And so it begins.
And so, it begins.....
And So It Begins...
And so it begins!
And so it begins.
And so it begins.
(so it begins...)
And so it begins.
And So It Begins.
And so it begins:
And so it begins...
And so it begins....
And So It Begins
(So it begins)
And so it begins?....
and so it begins.
So it begins.
And so it begins......
And so it begins..............................
So it begins.
And so it begins.
So it begins.
And so it begins.
So it begins.
It Begins…
So it begins.
It begins.
It begins.
and so it begins......
and so it begins......
It Begins"
And so it begins.
And so It begins…
"It Begins Again"
It Begins...
IT BEGINS: Ryan Releases Presidential Ad
It Begins...
It begins: In wake of California...
It Begins...Trump-Haters...
It Begins Again:...
So it begins.
It begins.
It begins:Facebook...
It begins.
And so it begins...
And so it begins.
...And So It Begins
It Begins…
And so it begins...
And so it begins ...
And so it begins.
And so it begins.
It Begins… Seizure
And so it begins...
And so it begins ...
And so it begins.
And so it begins.
And so it begins.
....and so it begins...
And so it begins.
And so it begins...
And it begins .....
And so it begins.
And so it begins.
So it begins,
...and the ominous ‘So It Begins’
And so it begins.
And so it begins ...
And so it begins...
It Begins: Illegal Immigrants ...
And so it begins ...
It Begins – Trump Administration ...
It begins!
IT BEGINS
and so it begins ...
It begins.
...it begins.
So it begins
And so it begins........... again
And so it begins.
It begins.
And it begins......
and so it begins.
And so it begins
It Begins! Ten Kushner Scandals..
And so it begins...
And so, it begins...
And so it begins...
And so it begins. Again.
So it begins.
So it begins. Sharia cometh..
And so it begins - Russia withdraws...
It begins!
IT BEGINS: Merkel’s Migrants..
And...so it begins.
And so it begins.
So it Begins:
And so it begins ...
Well, it begins!
While this list is not complete, it demonstrates the fun you and your family can have at home while kissing your own butts goodbye!!
So bottoms up everyone!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.