Your taxes paid Eric to crush Buell
"Why would anyone ever want to ride one of those things?"
-Keith Wandell, non-biker CEO of Harley Davidson, looking at a Buell
So Harley Davidson was secretly paid billions of taxdollars to kill sportbikes Made-In-USA, and paid by Uncle Scam to export HD factories to India. Just like Bushobama paid Government Motors billions of taxdollars to export factories to Communist China and Brazil.
Other bailout banksters include General Electric (GE), owner of NBC and MSNBC TV "news", which are now government-owned propaganda, just like the British Broadcasting Corporation (where The Dragonater was a STAR, or a god, on a good day).
Note that the so-called "Federal" Reserve Bank is a private corporation with zero audits allowed, the only corporation in USA allowed that immunity. The so-called "Fed" counterfeits all so-called "US dollar bills" ("Federal" Reserve Debt Notes) out of thin air then bills the US Govt for trillions of taxdollars interest. So to pay off that national govt debt, the so-called "Fed" keeps all IRS income taxes, with zero income taxes going to run the US Govt. There is no law requiring payment of income taxes...
"Not one dime of income taxes goes to support any federal program."
-President Ronald Reagan, right before George Bushes' CIA cousin John Hinkley Jr shot him (released from loonybin by George Bush Jr and Hussein Obama Soetoro)
The Bankster Bailout didn't cost the taxslaves $700-million, not $7-trillion, but over $30-trillion, mostly given to offshore banks, zero accounting to Congress. The best way to rob a bank is to own one...
Fed Created Conflicts in Improvising $3.3 Trillion Financial System Rescue
Bloomberg
The Fed created a bailout of the commercial paper market. A special entity called CPFF LLC, funded by the Fed, bought commercial paper from companies. They included GE, which tapped the facility 12 times for $16.1 billion, the Fed disclosed this week.
Assistance to companies, which also included Toyota Motor Corp. ($4.6 billion), Harley-Davidson Inc. ($2.3 billion) and Verizon Communications Inc. ($1.5 billion), topped out at $348.2 billion on Jan. 21, 2009, according to the Fed.
Commercial Paper
“The AMLF was the single most successful government intervention during the financial crisis,” said Peter Crane, president of Crane Data LLC, a money-fund research firm in Westborough, Massachusetts, in an interview. “In a crisis when you have esoteric corners of the market involved, you have no choice but to go to the experts, and the experts will be self- interested players.”
While the AMLF helped stabilize money funds, they didn’t start buying commercial paper again. That left issuers without their biggest group of customers and unable to roll over short- term debt as it matured. At 5:45 p.m. on Monday, Sept. 15, GE Chief Executive Officer Jeffrey R. Immelt met for half an hour with Treasury Secretary Henry M. Paulson Jr. in the secretary’s office, according to Paulson’s schedule.
An hour and 15 minutes later, Federal Reserve Bank of New York President Timothy F. Geithner convened a staff meeting to focus on “GE issues,” according to his schedule. He and Paulson conferred by phone afterward.
On Oct. 1, Geithner’s schedule noted a tentative conference call with Immelt, who was a board member of the New York Fed, a position he still has today. GE spokesman Gary Sheffer said the company doesn’t see a conflict with Immelt’s membership on the New York Fed’s board. He declined to comment on the content of Immelt’s conversations.
Unintended Consequences
“Any situation where the potential exists for a conflict of interest is concerning,” said Kurt Bardella, spokesman for Representative Darrell Issa, the California Republican who will become chairman of the House Oversight and Government Reform Committee next month. “This really brings into focus one of the unintended consequences of institutionalizing the federal government picking winners and losers while those entities are partaking directly and indirectly in what should be exclusive government functions.”
Conflict Review
“It seems clear that the biggest beneficiaries were the insiders,” said Dean Baker, co-director of the Center for Economic and Policy Research in Washington. “We have a huge pinata here. The question is whether we had insiders deciding who would get the candy or was everyone in the same boat? Think of the people who get upset about the government giving a homeowner some help. Now multiply the sums by about 100 million. We should care.”
Ford, BMW, Toyota Took Secret Government Money
Jalopnik.com
In the depths of the financial collapse, the U.S. Federal Reserve pumped $3.3 trillion into keeping credit moving through the economy. It eventually lent $57.9 billion to the auto industry — including $26.8 billion to Ford, Toyota and BMW.
The Fed on Wednesday was forced to reveal the identity of the companies it aided during the crisis, after contending to Congress that keeping their identities and the details of such lending secret was essential. Much of Wall Street, and corporate giants such as General Electric, Harley Davidson and McDonald's, took advantage of the Fed's help. We've done the math on how the Fed propped up the auto industry.
While Chrysler and General Motors had to go to Congress to beg for cash in 2008, every other automaker's finance arm was having trouble as well. Typically, once they lend money to a buyer, they sell the loan, get the cash upfront, then pump the proceeds back into the business. They also take out short-term loans called commercial paper that keeps the day-to-day business afloat. The crash cut the circuit, raising the chances the automakers couldn't make loans to buyers and keep selling new vehicles.
That's where the Fed stepped in. In normal circumstances, the Fed only lends money to banks, leaving the decisions about who should get credit to them. But when the financial markets started to collapse in late 2008, the Fed set up several programs to lend money directly to corporations, a highly unusual step.
According to the data, from October 2008 through June 2009 the fed bought $45.1 billion in commercial paper from the credit arms of four automakers - Ford, BMW, Chrysler and Toyota - along with GMAC (the former General Motors credit arm). Of those, Ford sold the most, with $15.9 billion.
The Fed also lent $13 billion to investors who bought bonds backed by loans to new car buyers from automakers and banks. The Fed made clear that while investors got the loans, the move was meant to keep the lenders in business; the credit arms of Ford, Chrysler, Nissan, Volkswagen, Honda and Hyundai all benefited directly.
Ford spokeswoman Christin Baker said the two programs "addressed systemic failure in the credit markets, and that neither program was designed for a particular company, or even a particular industry." Ford Credit has disclosed through SEC filings and conference calls with media and investors that it was taking part in both programs.
BMW told Bloomberg that the Fed lending "supported our financial profile and offered us an additional funding source, especially at times when the money markets and capital markets did not function properly and efficiently."
According to the Fed, the commercial paper loans have been paid in full, while some $2 billion remains outstanding on loans for bond investors.
The secrecy surrounding the details of the loans only masked how much aid corporate America and Wall Street needed. While General Motors and Chrysler took the brunt of the blowback for relying on government handouts, the reveal of the Fed numbers show that a far bigger slice of the U.S. auto industry needed help.
With credit markets largely frozen amid nervousness by investors throughout the system at the time, Harley sold commercial paper - a form of short-term loan - to the Fed 33 times over five months between late 2008 and early 2009 for a total of more than $2.3 billion. The money was used primarily by Harley's lending unit, which provides retail loans for motorcycle buyers and wholesale loans to Harley dealers, said company spokesman Bob Klein.
"It was an available source when a lot of other sources were frozen or hard to come by," said Klein.
Klein noted that there never was more than $1.35 billion in debt outstanding to the Fed at one time because Harley's borrowing included rollovers and refinancing as paper matured.
Area banks, Harley-Davidson took help from Fed
When the Federal Reserve unleashed a barrage of programs in 2008 to try to prevent the collapse of the financial system, a handful of Wisconsin firms - mostly banks, but the state's perhaps best-known company as well - opted in.
Data released last week on more than 21,000 loans and other transactions the Fed made during the financial crisis shows at least nine state financial institutions - including Wisconsin's two biggest banks - and Milwaukee motorcycle maker Harley-Davidson Inc. used some of the emergency measures.
The records indicate Wisconsin companies borrowed a total of more than $41 billion through the Fed's special programs from 2008 through early 2010, a fraction of the total $3.3 trillion in credit issued in the United States and beyond by the Fed as it sought to prevent widespread financial calamity.
Dictator Obama's Secretary of War Vinnie Da Chin Panetta and the Pentagram Joints Chief Of Operation Northwoods testified to Congress yesterday that Obama takes his orders to invade from United Nations and NATO, not Congress.
This is the equivalent ot Caesar crossing the Rubicon with his military to invade Rome under martial law, resulting in civil war, and 5 years later every member of the Roman Senate stabbing Caesar in the back...literally on the Ides Of March (next week...).
http://en.wikipedia.org/wiki/Julius_Caesar
http://en.wikipedia.org/wiki/Crossing_the_rubicon
ATICLES OF IMPEACHMENT RESOLUTION 2012
H.CON.RES.107 -- Expressing the sense of Congress that the use of offensive military force by a President without prior and clear authorization of an Act of Congress constitutes an impeachable high... (Introduced in House - IH)
HCON 107 IH
112th CONGRESS
2d Session
H. CON. RES. 107
Expressing the sense of Congress that the use of offensive military force by a President without prior and clear authorization of an Act of Congress constitutes an impeachable high crime and misdemeanor under article II, section 4 of the Constitution.
IN THE HOUSE OF REPRESENTATIVES
March 7, 2012
Mr. JONES submitted the following concurrent resolution; which was referred to the Committee on the Judiciary
CONCURRENT RESOLUTION
Expressing the sense of Congress that the use of offensive military force by a President without prior and clear authorization of an Act of Congress constitutes an impeachable high crime and misdemeanor under article II, section 4 of the Constitution.
Whereas the cornerstone of the Republic is honoring Congress's exclusive power to declare war under article I, section 8, clause 11 of the Constitution: Now, therefore, be it
Resolved by the House of Representatives (the Senate concurring), That it is the sense of Congress that, except in response to an actual or imminent attack against the territory of the United States, the use of offensive military force by a President without prior and clear authorization of an Act of Congress violates Congress's exclusive power to declare war under article I, section 8, clause 11 of the Constitution and therefore constitutes an impeachable high crime and misdemeanor under article II, section 4 of the Constitution.
Coup D’etat: Pentagon & Obama Declare Congress Ceremonial
Defense Secretary Leon Panetta’s testimony asserting that the United Nations and NATO have supreme authority over the actions of the United States military, words which effectively declare Congress a ceremonial relic, have prompted Congressman Walter Jones to introduce a resolution that re-affirms such behavior as an “impeachable high crime and misdemeanor” under the Constitution.
During a Senate Armed Services Committee hearing yesterday, Panetta and Joint Chiefs of Staff Chairman Gen. Martin Dempsey brazenly admitted that their authority comes not from the U.S. Constitution, but that the United States is subservient to and takes its marching orders from the United Nations and NATO, international bodies over which the American people have no democratic influence.
Panetta was asked by Senator Jeff Sessions, “We spend our time worrying about the U.N., the Arab League, NATO and too little time, in my opinion, worrying about the elected representatives of the United States. As you go forward, will you consult with the United States Congress?”
The Defense Secretary responded “You know, our goal would be to seek international permission. And we would come to the Congress and inform you and determine how best to approach this, whether or not we would want to get permission from the Congress.”
Despite Sessions’ repeated efforts to get Panetta to acknowledge that the United States Congress is supreme to the likes of NATO and the UN, Panetta exalted the power of international bodies over the US legislative branch.
“I’m really baffled by the idea that somehow an international assembly provides a legal basis for the United States military to be deployed in combat,” Sessions said. “I don’t believe it’s close to being correct. They provide no legal authority. The only legal authority that’s required to deploy the United States military is of the Congress and the president and the law and the Constitution.”
In an effort to re-affirm the fact that “the use of offensive military force by a President without prior and clear authorization of an Act of Congress constitutes an impeachable high crime and misdemeanor under article II, section 4 of the Constitution,” Republican Congressman Walter Jones has introduced a resolution in the House of Representatives.
Pentagon Launches Desperate Damage Control Over Shocking Panetta Testimony
The Pentagon is engaging in damage control after shocking testimony yesterday by Defense Secretary Leon Panetta at a Senate Armed Services Committee congressional hearing during which it was confirmed that the U.S. government is now completely beholden to international power structures and that the legislative branch is a worthless relic.
During the hearing yesterday Panetta and Joint Chiefs of Staff Chairman Gen. Martin Dempsey brazenly admitted that their authority comes not from the U.S. Constitution, but that the United States is subservient to and takes its marching orders from the United Nations and NATO, international bodies over which the American people have no democratic influence.
Panetta was asked by Senator Jeff Sessions, “We spend our time worrying about the U.N., the Arab League, NATO and too little time, in my opinion, worrying about the elected representatives of the United States. As you go forward, will you consult with the United States Congress?”
The Defense Secretary responded “You know, our goal would be to seek international permission. And we would come to the Congress and inform you and determine how best to approach this, whether or not we would want to get permission from the Congress.”
Despite Sessions’ repeated efforts to get Panetta to acknowledge that the United States Congress is supreme to the likes of NATO and the UN, Panetta exalted the power of international bodies over the US legislative branch.
“I’m really baffled by the idea that somehow an international assembly provides a legal basis for the United States military to be deployed in combat,” Sessions said. “I don’t believe it’s close to being correct. They provide no legal authority. The only legal authority that’s required to deploy the United States military is of the Congress and the president and the law and the Constitution.”
Panetta’s assertion that he would seek “international permission” before ‘informing’ Congress about the actions of the US military provoked a firestorm of controversy, prompting the Pentagon to engage in damage control by claiming Panetta’s comments were misinterpreted.
“He was re-emphasizing the need for an international mandate. We are not ceding U.S. decision-making authority to some foreign body,” a defense official told CNN.
However, this is not the first time that the authority of international bodies has been framed as being superior to the US Congress and the Constitution.
In June last year, President Obama arrogantly expressed his hostility to the rule of law when he dismissed the need to get congressional authorization to commit the United States to a military intervention in Libya, churlishly dismissing criticism and remarking, “I don’t even have to get to the Constitutional question.”
Obama tried to legitimize his failure to obtain Congressional approval for military involvement by sending a letter to Speaker of the House John Boehner in which he said the military assault was “authorized by the United Nations (U.N.) Security Council.”
Panetta’s testimony that the US looks to obtain “international permission” before it acts, allied with Obama citing the UN as the supreme authority while trashing the power of Congress, prove that the United States has ceded control over its own affairs to unelected international bureaucrats, just as the countries of the European Union have done likewise.
Attorney General Eric Holder, the top “legal” voice of the US regime, argued to Northwestern University law students that the US Constitution is no limit to the regime dictatorially assassinating Americans. This follows regime arguments to seize and “disappear” any person in opposition to regime dictates as “terrorist supporters,” and extracting their confessions with controlled drowning (euphemistically “waterboarding”), found by all US and international courts as torture. The regime’s followers in Congress voted for legislation (2006 Military Commissions Act, 2012 NDAA) that these dictates are consistent with the US Constitution.
http://www.washingtonsblog.com/2012/03/attorney-general-holder-degrades-us-to-fascist-assassination-nation-99-response.html
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