Bank Bailout Documents

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For anyone that's interested in skimming through this stuff.

Bigtime insight into the bailout bull$hit. In the Talking Points pdf document, it says:

To encourage wide participation, the program is designed to provide an attractive source of capital, on identical terms to all qualifying financial instituions. We plan to announce the program tomorrow - and - that your nine firms will be the intitial participants. We will state clearly that you are healthy institutions, participating in order to help the US economy.
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Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it forced the Obama administration to release documents about the October 13, 2008, Treasury Department meeting that coerced major banks to allow the government to take $250 billion equity stakes. Among the other news, the documents confirm former Treasury Secretary Hank Paulson told the CEOs of nine major banks that they had no choice but to allow the government to take equity stakes in their institutions. The documents show Obama Treasury Secretary Tim Geithner, FDIC Chairman Shelia Blair, and Fed Chairman Ben Bernanke co-hosted the meeting with Paulson.

Judicial Watch filed a Freedom of Information Act (FOIA) request about the bankers meeting on October 16, 2008. After months of stonewalling, a FOIA lawsuit was filed against the Obama Treasury Department on January 27, 2009. Incredibly, on February 4, Treasury responded it had no documents about the historic meeting. Pressure from Judicial Watch forced Treasury to reevaluate its response, which resulted in this document release last month. Included in the new documents are:

Read on, very important stuff:

http://tinyurl.com/oucuuz

http://www.judicialwatch.org/files/documents/2009/TreasuryDocsPart1.pdf

http://www.judicialwatch.org/files/documents/2009/TreasuryDocsPart2.pdf

http://www.judicialwatch.org/files/documents/2009/TreasuryDocsPart3.pdf

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"CEO Talking Points" used by former Treasury Secretary Hank Paulson confirming that the nine bank CEOs present at the October 13 meeting had no choice but to accede to the government's demands for equity stakes and the resulting government control. The talking points emphasize that "if a capital infusion is not appealing, you should be aware your regulator will require it in any circumstance." Suggested edits of the "talking points" by Tim Geithner, then-New York Fed President, were withheld by the Obama Treasury Department.

http://www.judicialwatch.org/files/documents/2009/Treasury-CEO-TalkingPoints.pdf

"Major Financial Institution Participation Commitments" signed by the nine bankers on October 13. The CEOs not only hand wrote their institution's names but also hand wrote multi-billion dollar amounts of "preferred shares" to be issued to the government.

http://www.judicialwatch.org/files/documents/2009/Treasury-ParticipationCommitment.pdf


Email documenting that, on the very day of the meeting, the Chief of Staff to the Treasury Secretary and other top Treasury staff did not know the names of any of the banks that would be in attendance.

http://www.judicialwatch.org/files/documents/2009/Treasury-Point3.pdf


Email showing Treasury officials wanted to use the Secret Service to help keep the press away from the CEOs arriving at the meeting.

http://www.judicialwatch.org/files/documents/2009/Treasury-Point4.pdf


Email showing a public relations effort, run in part out of the Bush White House, to tamp down public concerns about "nationalizing the banks."
Email showing that Paulson was able to brief Barack Obama about the bankers meeting almost immediately, but could not reach Senator John McCain.

http://www.judicialwatch.org/files/documents/2009/Treasury-Point5.pdf