13 January 2009

FOX News to Fed: Where's My Money

So, Paulson, Where's My $700 Billion Dollars

While it was pretty easy to file for a TARP claim from Uncle Sucker, no one knows where the billions of taxpayer dollars went that Paulson doled out. FOX News filed a FOIA request last November and they have yet to hear back. We fielded a few FOIA requests at my last job in Iraq, and you're pretty much obligated to take care of them unless the information the requester is seeking is classified. Not sure if the TARP funds went to fund secret CIA ninjas at The Octagon, but the Fed never got back with FOX, and they are pissed. From Yahoo Finance (by way of Malkin):
FOX Business Network (FBN) filed a lawsuit against the Board of Governors of the Federal Reserve System (the “Fed”) over its failure to release information requested under the Freedom of Information Act (FOIA), announced Kevin Magee, Executive Vice President, FOX News.

The initial request to the Fed, filed on November 10, 2008, sought the identification of the financial institutions receiving funds and an accounting of the collateral provided by these financial institutions between August 2007 and November 2008. In a second FOIA request, filed on November 18, 2008, FBN sought expedited processing and requested a list of financial institutions that have received lending from the Fed’s programs, the amounts borrowed and collateral pledged by each institution for the months of September and October of 2008, as well as the amount of collateral held by the Fed by close of business on November 14, 2008.

In making the announcement Magee said, “As a news organization, we believe in the public’s right to know and will continue in our quest to hold the government accountable for their actions on the allocation of the bailout funds.
Damn media. Why would the public want to know how the first $350 Billion dollars in an extremely controversial program was spent?

Obama plans to use the next $350 Billion for "ammunition" during his administration. That's a pretty expensive bullet.


Darren M said...

I know you asked facetiously why the public would want to know where the money went, but yeah, I wanna' fucking know. I wanna' fucking know since my ass is going to have to pay part of the taxes on it for the next kazillion years. Since I'll be worm food before it's paid back, my kids kids kids kids will still be paying for it.

It should have been a simple answer for the feds, but since it's not, I smell shit.

Sholom said...

Unlike your unit, the "Fed" is under no obligation to fill out a FOIA request, as the Federal Reserve is a private bank.

cathcatz said...

nice to see fox news finally doing some digging.

too bad they could dig on the lead up to the war in iraq.

olgreydog7 said...

And what would they have found Cath? That there were 4 independent sources confirming the intel, that a multitude of other nations had the same intel? What they wouldn't have found is that Saddam was putting out false info on just how advanced the programs were in order to stage a semi-cold war with Iran. :rolleyes:

Somehow I think the money is going to end up like the funding in Real Genius

LegallyBlonde said...

Old dog,

Maybe they would have found out that one of the main sources for the intel, "Curveball" was a drunken pathalogical liar. Or how about the fact that the weapons inspector where on the ground and were finding out that the WMD did NOT exist.

The so-called other nations that you believe had the same intel did -- b/c they got it from us! As the British have said -- the U.S. "sexed" up the facts to fit their agenda. Worked like a charm.

Anonymous said...

olgreydog7 said...

And what would they have found Cath? That there were 4 independent sources confirming the intel, that a multitude of other nations had the same intel?

Name them.

Wek said...

The fuckers! All of 'em. I lost $200 at Tampa Downs race track a few weeks back and I was pissed the hell off at myself for being an over-betting jackass. These azzholes are going to really hate being in hell when I come down to join them and really work them over.

LT Nixon said...

Not sure how this thread became U.S. intelligence failures of yesteryear, but okay!

cathcatz said...

its actually ON topic, LT, it's about faux snooze... finally doing some journalism that's real.

since they've sat on their collective brains for the past 8 years, and didn't do any investigating unless it involved the disappearance of a cute blond girl, or the tragic death of a train wreck starlett.

olgreydog7 said...

Mr Dog, you know that I can't do that. It's not public domain

LegallyBlonde, yea, and the Playboys that I hid from my parents didn't exist cause they didn't find them either. That's some naive thinking there. What I do know is, and this is a HUGE failure on BushCo, there was a vast amount of fissile material removed from Iraq in 2007. I think it was buried somewhere on page 26 in the fine print though. The WMD may not have existed, but the capability to produce them sure as hell did. There was definitely an intent to produce and distribute. The Germans didn't bomb Pearl Harbor, but we kicked their ass too. Was that wrong? Why was kicking Saddam's ass wrong? Cause he murdered Kurds and Arabs instead of Jews?