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Location: St. Louis, Missouri, United States

Friday, August 26, 2011

Malfeasance on an Epic Scale

Timothy Birdnow

Wall Street and foreign firms received 1.2 TRILLION dollars in taxpayer money as part of the bailout, an amount hidden from the public, according to this Bloomberg article.

I will not excerpt any parts of this shocking article because I would have to post the entire piece. A large number of foreign firms received money from the U.S., including Belgium's largest bank Dexia SA (DEXB), and the Royal Bank of Scotland. Why was America giving money to foreign banks?

What we gave to our own was criminal, nay, sinful. We were sold down the road by those we trusted to run our affairs. In any private business those responsible would be headed for a long slumber at a penitentiary. It's malfeasance. It's embezzlement. It's misappropriation of funds. It is every bit as bad as what was done by Ken Lay at Enron. The government simply blew this money and then lied about it to the stockholders of the U.s. At least Lay was trying to shore up confidence in his company. This was simply a giant giveaway.

There should be an inquiry in Congress. There should be indictments. There should be prison sentences. This will show us whether the GOP House is really serious about cleaning up the mess in Washington or whether it will be business as usual. It appears to be the latter.

Hat tip; Conservative HQ

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